Mr. Ken Brinsden reports

PATRIOT ACHIEVES KEY PERMITTING MILESTONE FOR CORVETTE WITH RECEIPT OF GUIDELINES FROM THE MINISTRY

Patriot Battery Metals Inc. has received its guidelines from the Quebec government (Ministere de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs) for its wholly owned Corvette project located in the Eeyou Istchee James Bay region of Quebec. As per the process, the MELCCFP sought input from the evaluating committee known as COMEV, a committee composed of members appointed by the Cree Nation government, the government of Quebec and the Canadian government. The guidelines received outline the scope and nature of the impact study that must be undertaken for the project.

Ken Brinsden, president and chief executive officer of Patriot Battery, commented: "The guidelines for the Corvette project outline MELCCFP's requirements for the project's environmental and social impact assessment and provide the company with the road map to completing the ESIA. We are eager to continue our baseline data collection, which started in 2022, as we advance the permitting and study phases of Corvette."

Alix Drapack, vice-president of environmental, social and governance, Patriot Battery, commented: "The guidelines from COMEV were clear and consistent with other proposed mining projects of this scale and nature in Eeyou Istchee, and were as expected. We are looking forward to continuing our discussions on the project with the tallyman and his family and the Cree community of Chisasibi."

The company is currently evaluating the Corvette project as a potential hardrock spodumene mining operation. The company is well financed and is carrying out an intensive infill drilling on CV-5 this winter and a regional exploration campaign on the Corvette area during the summer and fall season. An updated National Instrument 43-101 resource estimate on the Corvette project is planned for release in calendar year third quarter 2024. The company commenced collection of environmental baseline data at the project in 2022 and will continue to collect data in accordance with the newly received guidelines. The company will provide regular updates on the progress of the work programs associated with the completion of the ESIA, and submission of the ESIA is anticipated in late 2025.

The Corvette project is highlighted by the CV5 spodumene pegmatite, which hosts 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 and one of the top-10 largest lithium pegmatite resources in the world. The CV5 spodumene pegmatite is located approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure, and approximately 50 kilometres from the La-Grande 4 hydroelectric power station in the Eeyou Istchee James Bay region of Quebec.

(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.

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 Mt at 1.42 per cent Li2O inferred (1).

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 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 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 (1), 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 remain to be assessed.

(1) The 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 (through drill hole CV23-190). Mineral resources are not mineral reserves as they do not have demonstrated economic viability.

We seek Safe Harbor.