Mr. Blair Way reports

PATRIOT ACHIEVES 6% LI2O SPODUMENE CONCENTRATE GRADE IN PRELIMINARY HLS METALLURGICAL TESTWORK ON THE CV13 PEGMATITE INDICATING POTENTIAL FOR JOINT PROCESSING WITH CV5

Patriot Battery Metals Inc. has released the results of preliminary heavy liquid separation (HLS) testwork on CV13 pegmatite core samples. The CV13 pegmatite cluster is located approximately 3.8 km along geological trend westwardly of the CV5 pegmatite cluster, where drilling has defined a large and continuous spodumene mineralized body (see news release dated June 14, 2023).

Highlights

• Heavy liquid separation (HLS) testwork on five core sample composites from the CV13 pegmatite cluster indicate that a simple dense media separation (DMS) process flowsheet is applicable.
• HLS testwork followed by magnetic separation produced 6 plus per cent Li2O spodumene concentrates at overall lithium recoveries exceeding 70 per cent.
  • Strong recoveries at both low, moderate and high feed grades.
• Fe2O3 content of about 0.60 per cent in final spodumene concentrate following magnetic separation on HLS concentrate.
• Results provide a strong indication that material from both the CV13 pegmatite and CV5 pegmatite may be processed jointly using the same design criteria and flowsheet (in example, processed at the same plant).

Mineral process consultant and project steering group member Brett Grosvenor comments: "The results of this HLS testwork at CV13 are very positive and indicate strongly that joint processing with CV5 pegmatite material is practical and viable. From a project development, risk mitigation and flowsheet perspective, it is difficult to ask for a better result."

The primary objective of the HLS test program on CV13 is to assess the liberation and recovery characteristics of spodumene at different locations along the collective about 2.2-kilometre trend that defines the cluster. HLS testing is a cost-effective way to rapidly assess the applicability of larger-scale dense media separation (DMS) processing, which is more reflective of an operating and continuous process, and the preferred method of spodumene pegmatite processing. Further, the data will allow for an initial assessment on the potential for joint processing with CV5 pegmatite material using the same design criteria and flowsheet (in example, the same process plant). Prior HLS and DMS testwork completed on the CV5 pegmatite demonstrates that a simple DMS only flowsheet is applicable (see news releases dated Aug. 4, 2022, and Dec. 19, 2022).

The benefits of DMS (plus or minus magnetic separation) compared with alternative recovery methods (in example, flotation) are considerable and include relatively lower capex (capital expenditure) and opex (operating expenditure), reduced reagent needs, coarser product and tailings, quicker operational start-up, and overall, less technical risk. A DMS circuit also only requires a typically coarse crush size compared with a smaller crush size (or grinding), which results in reduced power consumption and less equipment.

The HLS test program on CV13 pegmatite material utilized five, about eight to 10 metres, NQ-size, quarter-core composite samples collected from drill holes CV22-077, 082, 084, 085, 092 and 103 across the western, central and eastern portions of the collective about 2.2 km trend that defines the cluster. This included four samples from the upper pegmatite body, and one sample from the lower pegmatite body. The test program was completed by SGS Canada Inc. at its facility in Lakefield, Ont., where the prior testwork for the project was also completed.

Head grades for the composites ranged from 0.84 per cent to 1.42 per cent Li2O, averaging 1.14 per cent Li2O, and included varied amounts of mica and tourmaline to further assess their impact on the process. The sample composites were crushed to negative 9.5 millimetres (negative three-eighths of an inch) -- a coarse crush size -- with the fine fraction (negative 0.85 mm) screened out, and followed by HLS tests at six different cut points (2.65, 2.70, 2.80, 2.85, 2.90 and 2.95). Magnetic separation was also completed on the concentrate to assess any lingering iron mineral rejection (for example, amphibole, mica). It should be noted that magnetic separation was only applied to some samples in order to reduce iron grades in the final concentrate. The requirement for magnetic separation to be included in the flowsheet will continue to be assessed further as the project progresses.

The company is pleased to report that the testwork has returned very positive results with lithium recoveries ranging from 67 per cent to 77 per cent at an interpolated spodumene concentrate grade of 6.00 per cent Li2O. Recoveries also remained strong on the lower grade samples, which is a testament to the coarse-grained nature of the spodumene making it more amenable to liberation. Collectively, the preliminary HLS results strongly indicate that a DMS only operation at CV13 is applicable. Further, the results support a joint processing approach for the CV5 and CV13 pegmatites, whereby both could be processed at reasonable recovery in the same process plant. Such a scenario is optimal and reduces site infrastructure footprints and needs in the event of joint development.

To date, the metallurgical data collected from the CV5 and CV13 pegmatites are highly encouraging and demonstrates that a DMS only flowsheet is applicable at both clusters. Further, the data suggest that both pegmatites could be jointly crushed and feed the same process plant, while maintaining reasonably high recoveries into a marketable spodumene concentrate of plus 5.5 per cent Li2O. As a next step, the company intends to collect a sizable and representative, composite drill core sample over the summer-fall of 2023 in order to feed a DMS pilot plant.

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.