Mr. Ken Brinsden reports

BOARD AND EXECUTIVE UPDATE, KEN BRINSDEN TO TRANSITION TO QUEBEC BASED CEO / PRESIDENT

Patriot Battery Metals Inc.'s board of directors has unanimously agreed to revisions to both the board and company's executive team in support of the further rapid progress of the company's Corvette project.

Highlights:

• Highly experienced mining executive, Ken Brinsden, to transition from non-executive chair to chief executive officer/president/managing director residing in Montreal, Que.;
• Pierre Boivin (Quebec resident) to step into the role of non-executive chair from non-executive director;
• Current CEO/president, Blair Way, to move into the chief operating officer role, retaining his executive board position;
• The board and management changes to come into effect from Jan. 24, 2024;
• The changes have been made with the intention to increase Patriot's senior leadership presence within Quebec, as the company's Corvette project enters and moves through the development phase.

With exploration to date at Corvette demonstrating a scale that is material to the future development of the North American lithium raw materials and chemicals supply chain, the company has decided to further bolster its Quebec presence. The company considers it essential that key leadership be based in Quebec to grow executive and management capacity, and to advance meaningful engagement with key local stakeholders to ensure the best possible opportunities for the timely development of the project.

Mr. Way, COO and director, comments: "The time is right to build out capacity in Quebec in support of the project's development. We are lucky to have someone of Ken's calibre and experience in the lithium industry leading the charge, given that he has done the job before at Pilbara Minerals, taking the company from the development phase to one of the world's biggest lithium producers.

"I want to see the company grow from strength to strength, and I have no doubt that under the leadership of Pierre and Ken, being based in Quebec, and continuity through my role as COO, we have the right recipe."

Mr. Boivin, non-executive chair, said: "When I joined the company as a non-executive director in June, 2023, I was optimistic about the potential in the Corvette project. With the great work that Blair and the team have done and continue to do progressing the project, I continue to be enthused about what taking the Corvette project to the next level will mean for Quebec, and the development of the North American and European lithium supply chains."

Mr. Brinsden, CEO, president and director, said: "Given its location and the scale that has emerged at Corvette, it is clearly one of, if not, the best lithium raw materials development project globally. Since joining Patriot in August, 2022, Corvette's importance to the region has only grown, and it now deserves more attention at the local level. Hence my commitment to move to Quebec, build out the leadership team and engage deeply with key stakeholders that will contribute to the project's success.

"I'd also like to take this opportunity to express my gratitude to Blair and the important contribution he has made so far to the company. From consolidating the impressive land package Patriot currently boasts, raising the initial capital to fund the drill programs, facilitating the investment from Albemarle and driving the discovery of the Americas' largest spodumene lithium deposit, he has been a major asset for the company and will continue to be a positive driving force for Patriot as he takes on the responsibilities of COO."

A summary of the material terms of Mr. Brinsden's executive services agreement is set out on-line.

Grant of plan awards to directors

The company also announces it has entered into agreements to grant an aggregate of 1,348,016 stock options and an aggregate of 20,085 deferred shares units (the DSUs) to certain company directors.

Pursuant to the rules of the Australian Securities Exchange (ASX), the grant of the plan awards is subject to approval by a simple majority of shareholders at the next meeting of the company's shareholders.

The plan awards are governed by the terms of the company's omnibus equity incentive plan approved by shareholders of the company on Sept. 19, 2023.

Further details of the plan awards subject of the proposed grant are set out on-line. A copy of the terms of the omnibus plan is available under the company's profile on SEDAR+.

About Mr. Boivin

Mr. Boivin is a seasoned lawyer with over 40 years of experience in business law, notably in the resources sector. He has practised for almost 25 years at McCarthy Tetrault, and is currently acting as counsel, national leader of the Africa group, Quebec leader of the global metals and mining group, and a member of the strategic advisory group of the firm. Mr. Boivin's knowledge spans across several industries, most notably mining and oil and gas, on both a domestic and international scale.

Mr. Boivin has been repeatedly recognized over the years as a leading Canadian lawyer in various fields and publications, such as Who's Who Legal Canada in the mining sector, in the Canadian Legal Lexpert directory in the mining, energy (electricity), oil and gas, and corporate mid-market sectors, as well as in the Lexpert special editions of leading Canadian lawyers in the fields of global mining, cross-border corporate, infrastructure as well as energy. Acritas Stars and Thompson Reuters have recognized him as a stand-out lawyer, and APL Energies has named him personality of the year in 2019, a career achievement award in the energy sector in Quebec.

Mr. Boivin has served on various profit and non-profit boards of directors over the years, including currently Export Development Canada (EDC), Development Finance Institute Canada Inc. (FinDev Canada) and NSIA Participations (Ivory Coast) as a nominee of the National Bank of Canada. He is also a member of the governance committee of the Canadian Institute of Mining, Metallurgy and Petroleum, is a graduate of the Canadian Institute of Directors, and has received an ESG global competent boards designation.

About Mr. Brinsden

Mr. Brinsden is a mining engineer with approximately 30 years experience in surface and underground mining operations. Mr. Brinsden graduated from the Western Australian School of Mines in 1993. He previously worked for WMC Resources, Normandy, Central Norseman Gold Corp., GoldFields, Iluka Resources, Atlas Iron and Pilbara Minerals in various production, development, management, brownfields/greenfields mine development, executive and board roles.

Mr. Brinsden joined Pilbara Minerals as chief executive officer in January, 2016, and was appointed managing director and CEO in May, 2016. He led the rapid development of Pilbara Minerals through corporate development, financing, project execution and continuing production at Pilgangoora, such that it has become one of the leading lithium development projects globally and facilitated Pilbara's entry into the ASX 100 (subsequently ASX 50). Pilbara Minerals is now an $11-billion (Australian) company producing and selling in excess of 600,000 tonnes of spodumene concentrate annually, with a developing pipeline of vertically integrated production growth options.

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, and proximal to regional road and powerline infrastructure. The Corvette property hosts the CV5 spodumene pegmatite with a maiden mineral resource estimate of 109.2 million tonnes at 1.42 per cent lithium oxide inferred (1), and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (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 kilometres of prospective trend that remain to be assessed.

(1) The CV5 mineral resource estimate (109.2 Mt at 1.42 per cent Li2O and 160 parts per million tantalum pentoxide inferred) is reported at a cut-off grade of 0.40 per cent Li2O with effective date of June 25, 2023 (through drill hole CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

We seek Safe Harbor.