QUEBEC CITY, Jan. 31, 2019 (GLOBE NEWSWIRE) — Nemaska Lithium Inc. (the “Corporation”) (TSX: NMX) (OTCQX: NMKEF) (Frankfurt : N0T) announces that construction work at the Whabouchi mine will resume on February 5, 2019. Mine construction activities were put on hold this morning following a fire in the cafeteria of the Nemiscau workcamp, a facility owned and operated by an outside contractor that is located approximately 15 km away from the Nemaska Lithium mine site.
Nemaska Lithium has located an alternate cafeteria facility which is approximately 1 km from the existing lodging facility that will be opened to accommodate Nemaksa Lithium’s employees until mid-March, when the Whabouchi mine site workcamp currently under construction will be opened.
“We are very grateful for the rapid action of our local partners, who will be lending us the cafeteria of their nearby facility. Thanks to their responsiveness, we will be able to quickly get back to constructing the mine with minimal to no delays,” said Guy Bourassa, President and CEO of Nemaska Lithium.
“While we are relieved that this unfortunate incident was settled promptly, we are very touched by the impact of the fire on the Cree community of Nemaska,” added Mr. Bourassa. “The cafeteria was a very popular social venue for the local community, and we are sensitive to this loss which, we hope, will only be for a short time.”
At this time a small work crew remains on site to continue the construction of the Whabouchi workcamp. They are housed through VPC, a contractor of Nemaska Lithium.
About Nemaska Lithium
Nemaska Lithium Inc. is a developing chemical company whose activities will be vertically integrated, from spodumene mining to the commercialization of high-purity lithium hydroxide and lithium carbonate. These lithium salts are mainly destined for the fast-growing lithium-ion battery market, which is driven by the increasing demand for electric vehicles and energy storage worldwide. With its products and processes, the Corporation intends to facilitate access to green energy, for the benefit of humanity.
The Corporation will be operating the Whabouchi mine in Québec, Canada, one of the richest lithium spodumene deposits in the world, both in volume and grade. The spodumene concentrate produced at the Whabouchi mine will be processed at the Shawinigan plant using a unique membrane electrolysis process for which the Corporation holds several patents.
The Corporation is a member of the S&P/TSX SmallCap Index, S&P/TSX Global Mining Index, S&P/TSX Global Base Metals Index, S&P/TSX Equal Weight Global Base Metals Index, and the MSCI Canada Small Cap Index. For more information, visit www.nemaskalithium.com or twitter.com/Nemaska Lithium.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release constitute “forward-looking information” and “forward-looking statements” within the meaning of certain securities laws and are based on expectations and projections as of the date of this press release.
Forward-looking statements contained in this press release include, without limitation, those related to (i) the resumption of construction at the Whabouchi mine on February 5, 2019, (ii) the accommodation of Nemaksa Lithium’s employees until mid-March, (iii) the opening of the Whabouchi mine site workcamp around mid-March, (iv) the expectation of minimal to no delays in the construction, and (v) generally, the above “About Nemaska Lithium” paragraph which essentially describes the Corporation’s outlook. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Whabouchi mine and/or the electrochemical plant in Shawinigan will be commissioned and will begin production, as future events could differ materially what is currently anticipated by the Corporation.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. Readers are cautioned not to place undue reliance on these forward-looking statements as a number of important risk factors and future events could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements. All of the forward-looking statements made in this press release are qualified by these cautionary statements and those made in our other filings with the securities regulators of Canada including, but not limited to, the cautionary statements made in the “Risk Factors” section of the Corporation’s Annual Information Form dated October 10, 2018, and the “Risk Exposure and Management” section of the Corporation’s quarterly Management Discussion & Analysis. The Corporation cautions that the foregoing list of factors that may affect future results is not exhaustive, and new, unforeseeable risks may arise from time to time. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Further information regarding Nemaska Lithium is available in the SEDAR database (www.sedar.com) and on the Corporation’s website at: www.nemaskalithium.com.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Victor Cantore
Investor Relations
514 831-3809
victor.cantore@nemaskalithium.com
Wanda Cutler
Investor Relations
416 303-6460
wanda.cutler@nemaskalithium.com
Fanny-Ève Tapp
Media Relations
C. 514-442-0445
fanny-eve.tapp@nemaskalithium.com