Mr. Blair Way reports

PATRIOT PROVIDES DRILL PROGRAM UPDATE AT ITS CORVETTE PROPERTY, QUEBEC, CANADA

Patriot Battery Metals Inc. has provided an update on its drilling activities at its wholly owned Corvette property, located in the Eeyou Istchee James Bay region of Quebec. The property hosts the CV5 spodumene pegmatite (maiden mineral resource of 109.2 million tonnes at 1.42 per cent lithium oxide inferred (1)), one of the largest lithium pegmatites in the world, 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 La-Grande 4 (LG4) hydroelectric dam complex.

Since recommencing exploration at the property in early August, the company has co-ordinated a steady ramp-up of its drilling activities on site. The company has drilled more than 10,000 metres already this summer even with the wildfires. Two drill rigs are focused on 50-to-100-metre-spaced stepouts westward at the CV5 spodumene pegmatite toward CV13, and one rig on continued delineation at the CV13 spodumene pegmatite. A fourth barge-mounted drill rig has commenced drilling over the near-surface eastern areas of CV5. This latter area was not included in the maiden mineral resource estimate's block model (see news release dated July 31, 2023). The company anticipates adding a fifth rig (barge mounted) by month-end to drill areas of CV5 that are difficult to access by land or ice. Another two rigs are scheduled to commence drilling by mid-September with the first being deployed at CV13, and the second for initial drill testing at the CV9 spodumene pegmatite cluster. This will bring the total number of active diamond drill rigs on site to seven with activity focused at the CV5, CV13 and CV9 spodumene pegmatites.

Additionally, the company notes that the National Instrument 43-101 technical report on the CV5 mineral resource estimate is proceeding as scheduled, and will be filed in the first half of September. Due to co-ordination of ramp-up activities on site, coupled with pending completion and filing of the technical report, the announcement of new drill hole results will follow shortly thereafter in September. This is applicable for all 2023 summer drill holes completed to date.

Traffic restrictions caused by local wildfires that have been in place to one extent or another since the end of May, 2023, have been lifted. As of Aug. 24, 2023, all roads in the area, including the Trans-Taiga Road and Billy Diamond Highway, have reopened to traffic.

The company looks forward to resuming its regular program updates, including drill results, following filing of the NI 43-101 technical report on the maiden mineral resource estimate for the CV5 spodumene pegmatite. The CV5 spodumene pegmatite hosts an inferred mineral resource (1) of 109.2 Mt at 1.42 per cent Li2O and 160 parts per million tantalum pentoxide at a cut-off of 0.40 per cent Li2O, which ranks it as the largest lithium pegmatite resource in the Americas (based on contained lithium carbonate equivalent) and the eighth-largest lithium pegmatite mineral resource in the world (see news release dated July 31, 2023).

(1) CV5 mineral resource estimate (109.2 Mt at 1.42 per cent Li2O and 160 ppm Ta2O5 inferred) is reported at a cut-off grade of 0.40 per cent Li2O with effective date of June 25, 2023. Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

About the CV lithium trend

The CV lithium trend is an emerging spodumene pegmatite district discovered by the company in 2017 and is interpreted to span more than 50 kilometres across the Corvette property. The core area includes an approximate 3.7-kilometre-long spodumene pegmatite and multiple proximal secondary spodumene pegmatite lenses.

To date, seven distinct clusters of lithium pegmatite have been discovered across the Corvette property: CV4, CV5, CV8, CV9, CV10, CV12 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 indicate 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 a 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 and 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 Joint Ore Reserves Committee 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 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 estimate1 of 109.2 Mt at 1.42 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 remain to be assessed.

(1) Mineral resources are not mineral reserves as they do not have demonstrated economic viability. The effective date of the mineral resource estimate is June 25, 2023 (through drill hole CV23-190), and the base-case cut-off grade is 0.40 per cent Li2O.

We seek Safe Harbor.