Mr. Guy Bourassa reports

NEMASKA LITHIUM ANNOUNCES BOUGHT DEAL PUBLIC OFFERING OF COMMON SHARES AND PROVIDES PROJECT UPDATE

Nemaska Lithium Inc. has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc., under which the underwriters have agreed to purchase on a bought deal basis 47.62 million common shares of the corporation at a price of $1.05 per share for gross proceeds of $50-million. The shares will be offered in all provinces and territories of Canada pursuant to a short form prospectus to be filed by Nemaska Lithium, as well as in the United States under applicable registration statement exemptions and such other jurisdictions as may be agreed to by Nemaska Lithium on a private placement basis.

The corporation has also granted the underwriters an overallotment option to purchase up to that number of additional shares equal to 15 per cent of the shares purchased pursuant to the offering, exercisable in whole or in part at any time up to 30 days after and including the closing date of the offering.

The corporation intends to use the net proceeds of the offering for continuing development of the Whabouchi lithium mine, the Whabouchi spodumene concentrator and the Shawinigan hydrometallurgical plant (collectively, the lithium project), including for engineering work, infrastructure construction, down payments for the order of long lead items and general working capital purposes.

The offering is expected to close on or about June 29, 2017, and is subject to the receipt of all necessary regulatory approvals including, but not limited to, the approval of the Toronto Stock Exchange, and subject to certain other conditions.

Update on the lithium project debt financing

Nemaska Lithium has also been actively engaged in discussions with prospective lenders regarding terms and conditions of the project debt financing to finance the lithium project, and has recently begun the due diligence phase of the process with certain parties. The corporation is confident to enter into an agreement with the lenders by the end of Q3 2017.

Update on continuing discussions with Ressources Quebec

The government of Quebec, Nemaska Lithium's largest shareholder through Ressources Quebec's holding of 29.4 million shares, remains highly supportive of Nemaska Lithium and the lithium project. Nemaska Lithium and Ressources Quebec remain in continuing discussions regarding a potential future capital investment in the corporation to further support the realization of the project. To date, no agreement has been reached between the parties, and Nemaska Lithium will continue to evaluate its financing alternatives with a view of maximizing shareholder value.

Update on overall project progress

Guy Bourassa, president and chief executive officer of Nemaska Lithium, commented: "The offering will put Nemaska Lithium on strong financial footing to continue development work associated with the lithium project. This financing will allow Nemaska Lithium to make further progress in building the required facilities at the Whabouchi site and the commercial hydrometallurgical plant at the Shawinigan site, which will allow Nemaska Lithium to stay on target to initiate commercial-scale production by Q1 2019. Eventually, as Nemaska Lithium becomes an emerging low-cost producer in the global lithium marketplace, it will be ideally positioned to capitalize on the advantageous lithium market demand dynamics that we expect in the near and medium term.

"We are also encouraged by the ongoing discussions regarding the project debt financing. These developments, coupled with the ongoing support received from Ressources Quebec and other key shareholders, have reiterated what management and the board have known all along -- that Nemaska Lithium is poised to become a leading player in the global lithium market."

About Nemaska Lithium Inc.

Nemaska Lithium intends to become a lithium hydroxide and lithium carbonate supplier to the emerging lithium battery market that is largely driven by electric vehicles, cellphones, tablets and other consumer products. The corporation is developing in Quebec one of the most important spodumene lithium hard-rock deposits in the world, both in volume and grade. The spodumene concentrate produced at Nemaska Lithium's Whabouchi mine will be shipped to the corporation's lithium compound processing plant to be completed in Shawinigan, Que. This plant will transform spodumene concentrate into high-purity lithium hydroxide and carbonate using the proprietary methods developed by the corporation.

We seek Safe Harbor.