Mr. Blair Way reports

PATRIOT ANNOUNCES FINAL CORE ASSAY RESULTS FROM ITS 2023 WINTER DRILL PROGRAM, INCLUDING 108.0 M AT 2.44% LI2O, AT THE CV5 PEGMATITE, CORVETTE PROPERTY, QUEBEC, CANADA

Patriot Battery Metals Inc. has released core assays for the final set of drill holes completed as part of the 2023 winter drill program 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.

Darren L. Smith, Patriot vice-president of exploration, comments: "These final core assay results from the recently completed winter program continue to outpace the industry norm. The CV5 pegmatite has grown considerably over this program -- from 2.2 km to 3.7 km, drill hole to drill hole -- with some of the highest grades reported to date at CV5, including numerous significant intervals over 5 per cent Li2O [lithium oxide]. As we wait for the wildfire situation in Quebec to abate, the team is steadfast, focused on delivering an initial mineral resource estimate for CV5 in the coming weeks, which will include all drill holes from the 2023 winter program."

Blair Way, company president and chief executive officer, comments: "We are very pleased to have received the last batch of assay results from the winter drill program which means our imminent release of the resource remains on track. I am confident that the upcoming maiden resource will demonstrate the significance of the Corvette discovery to the evolving North American and European lithium raw materials markets."

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 holes CV23-181 and 177 targeted further delineation of the Nova zone with both returning wide and high-grade intercepts -- 108 metres at 2.44 per cent Li2O, including 37.5 m at 3.58 per cent Li2O or 16 m at 4.08 per cent Li2O (CV22-181), and 115.3 m at 1.81 per cent Li2O, including 89.6 m at 2.20 per cent Li2O (CV23-177). The high-grade Nova zone has been traced over a strike length of at least 1.1 km -- from drill holes CV23-132 to 108 -- and includes multiple drill intersections of over five m at greater than 5 per cent Li2O, demonstrating the high-grade tenure of this subset of the Corvette discovery.

As the company works toward extension of the Corvette discovery, core assay results for the most westwardly drill hole completed to date at the CV5 pegmatite -- CV23-184 -- demonstrate high grades and wide widths persist in this direction (78.9 m at 1 per cent Li2O, including 34.8 m at 1.40 per cent Li2O), with mineralization remaining open. The company intends to continue stepout drilling along strike of CV23-184 during the summer-fall drill program. Additionally, drill hole CV23-190, the final hole of the 2023 winter program, also completed over the western areas of CV5, returned strong grades over wide widths -- 139.2 m at 1.26 per cent Li2O, including 18.1 m at 2.02 per cent Li2O and 36.2 m at 1.74 per cent Li2O. This drill hole was completed in the opposite direction (northerly) to the normal drill hole orientation (southerly) at CV5 and demonstrates the near-surface bulbous nature of the pegmatite in this area, where it is interpreted to exceed 100 m true thickness.

Assay results to date over the far eastern portions of CV5 have returned variable grades and widths of lithium mineralized pegmatite (see news release dated June 14, 2023). These 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). However, results of drill hole CV23-165, as reported herein (36 m at 1.36 per cent Li2O, including 17 m at 2.31 per cent Li2O), are very significant and demonstrate the common nature of lithium pegmatites, where high grades may be immediately proximal to low to moderate grades. Further, this drill hole (CV23-165) returned six samples greater than 4 per cent Li2O, and three samples greater than 5 per cent Li2O, including an interval of 2.2 m at 5.02 per cent Li2O. These grades are on par with those typically confined to the Nova zone and outline the considerable potential in this eastward area. Drill hole CV23-165 was completed at the very eastern margins of the CV5 pegmatite drilled to date and highlight the potential for wide widths at strong grade to continue in this direction, where the pegmatite 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 pegmatite body over a lateral distance of at least 3.7 km and remains open along strike at both ends and to depth along a large portion of its length. This marks a 1.5 km extension of the known mineralized pegmatite along strike since the end of 2022 (2.2 km), and 2.9 km since the end of 2021 (0.8 km).

As previously announced, the company is advancing toward an initial mineral resource estimate for the CV5 pegmatite. All core sample assays have now been received from the lab with the drilling data set undergoing final validation and geological model on the final revision. The next steps in the process include geostatistics on the validated database followed by creation of the block model and interpolation of the lithium and tantalum grades, resource classification, determination of an appropriate cut-off grade and pit parameters, and finally constraining the block model with a pit to determine the official mineral resource estimate numbers. At this time, the company anticipates an announcement on the mineral resource estimate in a few weeks time.

Quality assurance/quality control

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, analysis 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, 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 Mr. 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.