Mr. Kenneth Brinsden reports

PATRIOT DISCOVERS NEW SPODUMENE-PEGMATITE OCCURRENCE (CV14) AT CORVETTE, QUEBEC, CANADA

Patriot Battery Metals Inc. has released results from its 2023 surface exploration campaign 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 Li2O inferred, is situated central to the property, approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure.

The 2023 surface exploration program at Corvette included ground geophysics, geological mapping, channel sampling and regional prospecting. The program was completed sporadically over the summer-fall field season due to the unprecedented wildfires in the province, which significantly reduced the program's scope.

Despite the disruptions, the 2023 surface exploration at Corvette continued to build upon prior success, highlighted by the discovery of a new spodumene pegmatite occurrence, herein termed CV14, located southwest along the same magnetic trend as the CV9 and CV10 spodumene pegmatite clusters. Grab sample assays from the principal pegmatite outcrop (approximately 33 metres by nine metres), composed of spodumene hosted in a smoky-quartz and feldspar ground mass, include 0.94 per cent lithium oxide and 0.86 per cent Li2O. Collectively, CV14 forms part of an approximately 3.6-kilometre-long prospective spodumene pegmatite trend extending through CV10 and to the CV9 spodumene pegmatite. This discovery at CV14 highlights a local trend of growing significance and prospectivity, and requires additional prospecting and mapping.

Additionally, approximately 450 metres up ice to the northeast of CV14, a mineralized pegmatite boulder was discovered (0.53 per cent Li2O). Based on interpreted glacial ice direction in the area, it may suggest the potential for a yet-to-be-discovered lithium pegmatite to be present to the north-northeast of the primary CV9-CV10-CV14 trend. Limited surface exploration has been completed in this area to date.

A total of 474 surface rock grab/chip samples were collected over the course of the 2023 prospecting program. In addition to the discovery of the CV14 spodumene pegmatite occurrence (outcrop), a plethora of spodumene mineralized pegmatite boulders was discovered south of the CV5 spodumene pegmatite with 29 boulders, dominantly subangular and one to three metres in size, assaying between 0.49 per cent Li2O to 3.22 per cent Li2O. Interpretation of glacial ice movement over the property indicates that, although many of these boulders are undoubtedly sourced from the principal CV5 pegmatite body, a significant number indicates spodumene pegmatite(s) is present near surface immediately south of CV5 and along strike eastwardly of the principal CV5 pegmatite body toward CV4, where it remains open.

Other mineralized boulders on the property also suggest undiscovered spodumene pegmatite to the north of the primary CV lithium trend. These include a large (two m by two m) mineralized boulder (1.00 per cent Li2O) discovered in 2019 to the north of the CV5-13 corridor, suggesting potential for a yet-to-be-discovered spodumene pegmatite north of CV5. Also, two mineralized boulders (2.20 per cent and 2.69 per cent Li2O), discovered in 2021, located northeast of the CV8 spodumene pegmatite, suggest potential for a yet-to-be-discovered spodumene pegmatite northeast of CV12 and north of CV13.

A tightly spaced (50 m) ground magnetic survey over the CV5 through CV13 corridor was also completed in 2023. The data have further resolved local geological trends along the corridor and will provide strong guidance as drilling advances through this area. There is a distinct lack of outcrop over the corridor due to glacial till cover, further highlighting the value of the magnetic data set to assist in understanding the local structure and trends, which can be used as a general proxy to interpret pegmatite location.

At CV13, the surface channelling campaign, which began in 2022, continued in 2023, with 147 m of channel sampling completed. Results in 2023 include 13.4 m at 1.22 per cent Li2O, 6.4 m at 1.44 per cent Li2O, 5.4 m at 1.93 per cent Li2O and 16.7 m at 0.80 per cent Li2O, including 8.1 m at 1.36 per cent Li2O. A peak sample of 6.43 per cent Li2O (over 0.5 m) was also collected. Of the 147 m of channel sampling completed in 2023 at CV13, a total of 139 m consisted of pegmatite and collectively averaged 0.51 per cent Li2O and 120 parts per million tantalum pentoxide. The channel sampling data, which effectively approximate a horizontal drill hole, will help constrain the geological model for CV13 ahead of a maiden mineral resource estimate scheduled for third quarter 2024.

The 2023 surface work also included initial prospecting over approximately one-third of the property's Corvette East claim block. Although a significant amount of pegmatite was discovered in this area of the property, no spodumene pegmatite was identified. However, multiple samples returned anomalous pathfinder geochemistry, including low potassium/rubidium ratios, indicating evolved and highly fractionated pegmatites are present. The area remains of high interest for continued surface exploration with a significant number of lidar derived targets remaining to be prospected.

The 2024 surface exploration campaign is currently being designed; however, it is anticipated to include:

• Follow-up of the CV14 spodumene pegmatite discovery with targeted prospecting traverses and mapping, as well as channel sampling;
• Follow-up of the multiple boulder fields, indicating yet-to-be-discovered spodumene pegmatite;
• Additional detailed geological mapping of the CV5 spodumene pegmatite to further constrain the geological model at surface;
• Continued channel sampling of the CV5 and CV13 pegmatites to constrain the geological model near surface and support an indicated mineral resource classification.

Quality assurance/quality control

A quality assurance/quality control protocol following industry best practices was incorporated into the program, and included insertion of quartz blanks and certified reference materials into sample batches submitted to the laboratory.

All surface 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 C, 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 ICP-AES/MS finish (codes GE-ICP91A50 and GE-IMS91A50).

Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.

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 approximately 4.4-kilometre-long CV5 spodumene pegmatite, which hosts a maiden mineral resource estimate of 109.2 million tonnes at 1.42 per cent Li2O inferred.

To date, eight distinct clusters of lithium pegmatite have been discovered across the Corvette property: CV4, CV5, CV8, CV9, CV10, CV12, CV13 and the recently discovered CV14. Given the proximity of some pegmatite outcrops to one 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 a 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, 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 Joint Ore Reserves Committee 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 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 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 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 remains to be assessed.

We seek Safe Harbor.