Mr. Blair Way reports

PATRIOT DRILLS 127.7 M AT 1.78% LI2O AND 95.3 M AT 1.62% LI2O AT THE CV5 PEGMATITE, CORVETTE PROPERTY, QUEBEC, CANADA

Patriot Battery Metals Inc. has released core assays for the next series of drill holes completed as part of the 2023 winter drill program, which recently concluded at its wholly owned Corvette property, located in the Eeyou Istchee James Bay region of Quebec. The winter phase of the 2023 drill campaign was focused on the CV5 pegmatite, located approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure.

Blair Way, company president and chief executive officer, comments: "The final assay results for the recently completed winter drill hole program continue to come in, with 12 holes now remaining to be reported. Results continue to impress as we position for the release of our initial mineral resource estimate at CV5."

Core assays, for the drill holes reported herein, cover the CV5 pegmatite's recently defined eastward extension (see news releases dated Feb. 5 and March 23, 2023), the high-grade Nova zone (see news release dated May 16, 2023) and the recently defined westward extension (see news release dated May 1, 2023).

Drill hole CV23-148 targeted the Nova zone and returned a wide and high-grade intercept of 95.3 metres at 1.62 per cent Li2O (lithium oxide), including 47.6 m at 2.09 per cent Li2O or 4.1 m at 4.44 per cent Li2O. The high-grade result affirms the interpretation that the Nova zone extends continuously over a strike length of at least 1.1 kilometres -- from drill holes CV23-132 to 108. Strong grades and widths were returned in drilling over the recently defined westward extension, highlighted by drill hole CV23-160A, which returned 127.7 m at 1.78 per cent Li2O, including 50.1 m at 2.43 per cent Li2O. Other drill holes in this area, with assays reported herein, include CV23-172 (13.2 m at 1.14 per cent Li2O, and 15.7 m at 0.94 per cent Li2O), CV23-182 (14.8 m at 1.06 per cent Li2O) and CV23-187 (14.1 m at 1.19 per cent Li2O). Additionally, drill hole CV23-174, located proximal to the westward extension, returned a strong intercept of 44.2 m at 0.99 per cent Li2O, including 15.3 m at 2.58 per cent Li2O.

Drill core sample assays for two holes remain to be reported over the westward extension area of the CV5 pegmatite. This includes a continuous 93 m interval of dominantly spodumene-bearing pegmatite in the most westerly drill hole completed through the end of the winter program (CV23-184), and a continuous 139 m interval of dominantly spodumene-bearing pegmatite in the final drill hole of the 2023 winter program (CV23-190).

Assay results for holes reported herein over the far eastern portion of CV5, as is currently defined, returned variable grades and widths of lithium mineralized pegmatite. Results include 51.2 m at 0.59 per cent Li2O, including 10.1 m at 0.87 per cent Li2O and 9.3 m at 0.91 per cent Li2O (CV23-154), and 27.5 m at 0.40 per cent Li2O, including 3.2 m at 2.22 per cent Li2O (CV23-156). Internal fractionation commonly leads to lower-grade pegmatite being immediately adjacent to higher-grade pegmatite. Considering the wide and continuous widths of pegmatite in these holes (CV23-154 and 156), at 49.9 m and 27.5 m, respectively, the grades returned are very encouraging with respect to the potential for additional and proximal higher-grade zones to be present. The pegmatite in this area remains open up dip, down dip and along strike eastwardly.

Through the 2023 winter drill program, the CV5 pegmatite has been traced continuously by drilling (at approximately 50 to 150 m spacing) as a principally continuous spodumene-mineralized body over a lateral distance of at least 3.7 km and remains open along strike at both ends and to depth along most of its length.

The company remains on target for a July, 2023, announcement for the initial mineral resource estimate at CV5, which will include all drill holes completed through April 17, 2023 (that is, the recently completed winter drill program). The timing of the announcement remains dependent on timely receipt of the final outstanding core sample assays from the laboratory, as well as final database and model validation.

Core assay results remain to be reported for 12 drill holes completed during the winter program, with all drill core samples having arrived at the analytical lab (SGS). Drill holes locations are available from the company's website as well as the news release dated May 16, 2023.

Quality assurance/quality control (QA/QC)

A quality assurance/quality control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter core duplicates, at a rate of approximately 5 per cent. Additionally, analyses of pulp-split and coarse-split sample duplicates were completed to assess analytical precision at different stages of the laboratory preparation process, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.

All core samples collected were shipped to SGS Canada's laboratory in Val d'Or, Que., for standard sample preparation (code PRP89) which includes drying at 105 degrees C, crush to 75 per cent passing two millimetres, riffle split 250 grams and pulverize 85 per cent passing 75 microns. The pulps were shipped by air to SGS Canada's laboratory in Burnaby, B.C., where the samples were homogenized and subsequently analyzed for multielement (including lithium and tantalum) using sodium peroxide fusion with inductively coupled plasma atomic emission spectroscopy/mass spectrometry finish (codes GE_ICP91A50 and GE_IMS91A50).

About the CV lithium trend

The CV lithium trend is an emerging spodumene pegmatite district discovered by the company in 2017 and spans more than 25 km across the Corvette property. The core area includes an approximate 3.7 km long spodumene pegmatite (the CV5 pegmatite) and multiple proximal secondary spodumene pegmatite lenses.

To date, six distinct clusters of lithium pegmatite have been discovered across the Corvette property -- CV5 pegmatite and associated lenses, CV4, CV8-12, CV9, CV10 and CV13. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite outcrop subsurface. Further, the high number of well-mineralized pegmatites along the trend indicates a strong potential for a series of relatively closely spaced/stacked, subparallel and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.

Qualified/competent person

The information in this news release that relates to exploration results for the Corvette property is based on, and fairly represents, information compiled by Darren L. Smith, MSc, PGeo, who is a qualified person as defined by National Instrument 43-101, and member in good standing with the Ordre des Geologues du Quebec (geologist permit No. 1968) and with the Association of Professional Engineers and Geoscientists of Alberta (member No. 87868). Mr. Smith has reviewed and approved the technical information in this news release.

Mr. Smith is vice-president of exploration for Patriot Battery Metals and a senior geologist and project manager with Dahrouge Geological Consulting Ltd. Mr. Smith holds common shares and options in the company.

Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration and to the activities being undertaken to qualify as a competent person as described by the JORC code, 2012. Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.

About Patriot Battery Metals Inc.

Patriot Battery Metals is a hard-rock lithium exploration company focused on advancing its district-scale, 100-per-cent-owned Corvette property located in the Eeyou Istchee James Bay region of Quebec, Canada. The Corvette property is one of the largest and highest-grade hard-rock lithium projects being explored, with over 50 kilometres of strike length over a 214-square-kilometre land package and over 70 lithium-bearing pegmatite outcrops identified to date.

The Corvette property is situated proximal to the all-weather Trans Taiga Road and Hydro-Quebec power line infrastructure in the Eeyou Istchee James Bay region of Quebec. The property hosts significant lithium potential highlighted by the CV5 pegmatite, which has been traced by drilling over a strike length of at least 3.7 km with spodumene pegmatite encountered as deep as 425 m vertical depth.

We seek Safe Harbor.