Mr. Kenneth Brinsden reports

PATRIOT EXTENDS STRIKE OF THE CV5 PEGMATITE, DRILLS 34.2 M AT 1.06% LI2O IN STEP-OUT HOLE AND 11.6 M AT 3.25% LI2O IN INFILL HOLE, QUEBEC, CANADA

Patriot Battery Metals Inc. has released additional drill results from the 2023 program completed at the CV5 spodumene pegmatite at the Corvette property. The Corvette property, wholly owned by the company, is located in the Eeyou Istchee James Bay region of Quebec. The CV5 spodumene pegmatite, with a maiden mineral resource estimate of 109.2 million tonnes at 1.42 per cent lithium oxide inferred, is situated approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure and is currently accessible by winter road.

Drill results for 12 drill holes completed in 2023 at the CV5 spodumene pegmatite are reported herein. These holes primarily target the western extension of CV5 (CV23-236, 243, 248, 259 and 268), as well as resource infill to improve the confidence of the geological model to support an upgrade of mineral resources from the inferred category to the indicated category (CV23-246, 251 and 256). Several holes were also completed over the eastern, near-surface areas of CV5 to test for an up-dip extension of the principal pegmatite body to surface (CV23-244, 252 and 260), as well as a hydrogeology hole (CV23-262) situated immediately south of CV5 and within the conceptual open-pit.

Drilling over the western extension was very successful and confirms well-mineralized spodumene pegmatite at CV5 continues along strike westwardly with results including:

• 34.2 metres at 1.06 per cent Li2O, including 14.2 m at 1.83 per cent Li2O (CV23-236);
• 27.7 m at 1.20 per cent Li2O and 7.2 m at 1.27 per cent Li2O (CV23-243);
• 10.2 m at 1.47 per cent Li2O and 6.7 m at 2.27 per cent Li2O (CV23-259).

These mineralized drill intercepts confirm an extension of the CV5 pegmatite's strike length to 4.4 km, with results from drill holes completed in 2023 for an additional 0.2 km of highly prospective strike length yet to be reported.

Drill holes targeting mineral resource infill also returned significant results highlighted by:

• An aggregate collective pegmatite interval of 134 m in drill hole CV23-246 -- core assay results of 89.5 m at 1.01 per cent Li2O, 17.9 m at 1.31 per cent Li2O, 19 m at 2.56 per cent Li2O, including 11.6 m at 3.25 per cent Li2O, and 7.4 m at 0.82 per cent Li2O;
• 37.2 m at 1.02 per cent Li2O (CV23-251);
• 11.3 m at 1.54 per cent Li2O (CV23-256).

Drilling over the eastern areas of CV5 with the objective of tracing the pegmatite to surface, partially outside of the 2023 mineral resource estimate block model, was met with limited success. Drill holes CV23-244, 252 and 260 intersected only minor pegmatite intervals (less than two m) in this area. Current interpretation indicates the pegmatite may be plunging in this area and variably flares to surface, while remaining open along strike and at depth.

The eastern portion of the CV5 spodumene pegmatite did not fall within the recent June, 2023, maiden mineral resource estimate partially due to lack of drill density. However, the most eastern line of holes completed to date returned a well-mineralized interval of 36 m at 1.36 per cent Li2O, including 17 m at 2.31 per cent Li2O (CV23-165) indicating significant potential remains in this area. Several drill holes are planned during the continuing winter 2024 program to further delineate this area.

In addition to infill, further stepout drilling is planned at the CV5 spodumene pegmatite as part of the 2024 winter program currently under way at the property. Approximately three km of highly prospective geological trend remains to be drill tested between the CV5 and CV13 pegmatites.

Core sample assays for drill holes reported herein are presented herein for all pegmatite intersections greater than m. For drill holes completed in 2023, results remain to be reported for the CV13 pegmatite (35 holes), the CV5 pegmatite (42 holes) and the CV9 pegmatite (18 holes). The company has completed the on-site processing of the drill core backlog from the 2023 program with all samples now at the lab.

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 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 sample preparation (code PRP89 special) which includes drying at 105 degrees, crushing to 90 per cent passing two millimetres, riffle splitting 250 grams and pulverizing 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 is interpreted to span more than 50 kilometres across the Corvette property. The core area includes the approximate 4.4 km long CV5 spodumene pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42 per cent Li2O inferred.

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.

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 -- Standards of Disclosure for Mineral Projects, and member in good standing with the Ordre des Geologues du Quebec (geologist permit No. 01968), 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 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 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC code). 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, and proximal to regional road and power line infrastructure. The Corvette property hosts the CV5 spodumene pegmatite with a maiden mineral resource estimate of 109.2 Mt at 1.42 per cent Li2O inferred 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 km of prospective trend that remains to be assessed.

We seek Safe Harbor.