Mr. Blair Way reports

PATRIOT PROVIDES OPERATIONS UPDATE FOR ITS CORVETTE PROPERTY, QUEBEC, CANADA

Patriot Battery Metals Inc. has provided an operations update on the mineral exploration and development of its Corvette property, host to the CV5 spodumene pegmatite. The CV5 spodumene pegmatite, the eighth-largest lithium pegmatite in the world, is located approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure corridor, and within 50 km of the La-Grande 4 (LG4) hydroelectric dam complex.

The company has resumed its mineral exploration and development programs as of early August, 2023, as the wildfires in the region gradually abate. This includes on-site community engagement, environmental baseline fieldwork, camp construction, road access upgrades, surface exploration and core drilling. It is important to note that the wildfires have delayed the company's on-site activities during the summer months, but fortunately, no equipment or property at the property, campsite and laydown, or the Mirage Lodge has been lost.

The area around the property, including the KM-270 exploration camp construction site, reopened in late July. However, access by road has been limited due to continuing wildfires over 200 km to the west and south of the property. Road closures continue to hinder the camp installation and access road construction progress. A preliminary crew arrived on site by air transport and is utilizing equipment already at the KM-270 exploration camp to advance these construction projects. When conditions permit, mobilization of additional construction personnel and materials will accelerate these activities significantly.

The 100-per-cent-owned exploration camp at KM-270 is anticipated to be operational in November, 2023. This camp will significantly improve the transport efficiency on site by reducing travel time to site and helicopter dependency, as well as allow for more personnel on site to support accelerated mineral exploration and development work. Additionally, as previously announced, the company has received its required permits to allow for the completion of the all-weather exploration access road extending from the all-weather Trans-Taiga Road to CV5. With the road anticipated to be operational for November, the company expects to be able to continue drill exploration activities into December, 2023, at the property, which is approximately six weeks later than would typically be practical during that time of year.

Through the recently completed strategic investment of $109-million from Albemarle Corp. (see news release dated July 31, 2023), the company is well positioned to continue to advance and accelerate its activities on site, including drilling, all-weather road improvements and completion of phase 1 of its exploration camp at KM-270 on the Trans-Taiga Road, directly north of the property.

The 2023 summer-fall exploration includes both a drill and surface exploration program, which commenced at the property in late May. A total of four drill rigs are currently active on site with additional drill rigs planned to arrive on site and commence operations shortly. The multirig drill program is currently focused on further delineation of the CV5 and CV13 pegmatites, and is anticipated to expand this fall to include drill testing at the CV8, CV12 and CV9 spodumene pegmatite clusters. Surface exploration has also resumed, and includes prospecting and rock sampling across a large portion of the remaining 20-plus km of prospective lithium pegmatite trend.

Following the lifting of the restrictions on forestry work, the baseline data collection activities at the property resumed on Aug. 4, 2023. Several teams of biologists are currently collecting data on chiropterans, surface water, fish and fish habitat, vegetation, and wetlands, which will be integrated into the environmental impact study. This fieldwork is anticipated to be completed by late October, 2023.

In addition to the on-site fieldwork, Patriot Battery representatives recently held in-person meetings with leadership and land users in the Cree Nation of Chisasibi to share information on the recently announced maiden mineral resource estimate at CV5 and the strategic investment by Albemarle. It is grateful to the community for its warm welcome despite the devastating hardships that the wildfires have brought to the Eeyou Istchee region and its community.

About Patriot Battery Metals Inc.

Patriot Battery is a hardrock 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, and proximal to regional road and power line infrastructure. The Corvette property hosts the CV5 spodumene pegmatite with a maiden inferred mineral resource estimate of 109.2 million tonnes at 1.42 per cent Li2O and 160 parts per million Ta2O5 (at a cut-off of 0.40 per cent Li2O), and ranks as the largest lithium pegmatite resource in the Americas based on contained LCE and one of the top-10 largest lithium pegmatite resources in the world. Additionally, the Corvette property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of prospective trend that remains to be assessed.

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