Mr. Blair Way reports

PATRIOT IMPLEMENTS NEW OMNIBUS PLAN

Patriot Battery Metals Inc.'s board of directors has approved a new omnibus equity incentive plan (the new plan), which is to replace the company's previous omnibus plan announced on Nov. 2, 2022. The company is engaging experts to assist in the determination of the appropriate remuneration policy to ensure the company is able to attract the best talent to develop the Corvette property.

The new plan is an evergreen rolling plan which allows the company to issue up to a maximum of 10 per cent of the common shares of the company in stock options, performance share units, deferred share units and restricted share units to directors, officers, employees and consultants of the company. Under the Australian Securities Exchange regulations all units issued to directors under the new plan must be shareholder approved. The new floating 10-per-cent plan was adopted by the company to provide incentives to its executives without creating the concerns that the previous proposed 20-per-cent fixed plan generated.

At the next annual general meeting of shareholders on March 3, 2023, the company will ask shareholders to ratify and confirm the adoption of the new plan. The new plan remains subject to the approval of the TSX Venture Exchange and the ASX.

Furthermore, the company has granted an aggregate 750,000 incentive stock options to new management of the company. The options are exercisable at $12.50 per share for a period of three years from the date of grant and subject to vesting over three years. The options have been granted under and are governed by the terms of the company's new plan which is subject to the approval of the shareholders, the TSX Venture Exchange and the ASX.

After considering the grant of the options, the company has allowable room to grant up to 793,996 more awards under the new plan.

About Patriot Battery Metals Inc.

Patriot Battery Metals is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base and precious metals.

The company's flagship asset is the 100-per-cent-owned Corvette property, located proximal to the Trans-Taiga road and power line infrastructural corridor in the James Bay region of Quebec. The land package hosts significant lithium potential highlighted by the 2.2-kilometre-long CV5 spodumene pegmatite with drill intercepts of 159.7 m at 1.65 per cent Li2O and 193 ppm Ta2O5 (CV22-042), and 70.1 m at 2.22 per cent Li2O and 147 ppm Ta2O5, including 40.7 m at 3.01 per cent Li2O and 160 ppm Ta2O5 (CV22-017). Additionally, the property hosts the Golden Gap trend with grab samples of 3.1 to 108.9 g/t (grams per tonne) Au from outcrop and seven m at 10.5 g/t Au in drill hole, and the Maven trend with 8.15 per cent Cu, 1.33 g/t gold and 171 g/t silver in outcrop.

The company also holds 100-per-cent ownership of the Freeman Creek gold property in Idaho, United States, which hosts two prospective gold prospects -- the Gold Dyke prospect with a 2020 drill hole intersection of 12 m at 4.11 g/t Au and 33 g/t Ag, and the Carmen Creek prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag and 9.75 per cent copper.

The company's other assets include the Pontax lithium-gold property, Quebec; and the Hidden Lake lithium property, Northwest Territories, where the company maintains a 40-per-cent interest, as well as several other assets in Canada.

We seek Safe Harbor.