Mr. Kenneth Brinsden reports

FINAL 2023 DRILL HOLE RESULTS FOR CV5 AT CORVETTE INCLUDING 133.9 M AT 1.21% LI2O AND EXTENDING STRIKE TO 4.6 KM

Patriot Battery Metals Inc. has released the remaining core assay results for drill holes completed in 2023 at the CV5 spodumene pegmatite. 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 (1), is situated approximately 13.5 kilometres south of the regional and all-weather Trans-Taiga Road and power line infrastructure.

Darren L. Smith, vice-president of exploration for the company, commented: "The 2023 drilling at CV5 has more than doubled the spodumene pegmatite's strike from 2.2 km at the end of 2022 to 4.6 km at the end of 2023, and remains open. To put this further into perspective, the maiden mineral resource estimate for CV5 -- announced July, 2023 -- covered only approximately 3.7 km of this strike length and highlights the deposit's growth potential over time. While much work has been done, in many respects, it feels like we are only just beginning to unlock the potential at Corvette."

Drill results for the remaining 42 drill holes completed in 2023 at the CV5 spodumene pegmatite are reported herein. This drilling included both infill holes, as well as holes completed over the western extension of the pegmatite body, discovered subsequent to the June, 2023, MRE. Collectively, through to the end of 2023, drilling has traced the CV5 spodumene pegmatite over a strike length of 4.6 km, which remains open along strike at both ends and to depth. Highlights for the holes reported herein include the following.

Infill drill holes:

• 133.9 metres at 1.21 per cent Li2O, including 41.5 m at 1.52 per cent Li2O;
• 42.2 m at 1.59 per cent Li2O, including 10.1 m at 3.22 per cent Li2O (CV23-298);
• 50.5 m at 1.42 per cent Li2O, including 11.4 m at 3.13 per cent Li2O;
• 38.7 m at 2.06 per cent Li2O, including 15.6 m at 3.26 per cent Li2O (CV23-285);
• 123.5 m at 0.72 per cent Li2O, including 35.5 m at 1.07 per cent Li2O, and 12.9 m at 1.30 per cent Li2O (CV23-272A);
• 76.7 m at 0.69 per cent Li2O, including 34.1 m at 0.98 per cent Li2O (CV23-327).

Drill holes CV23-298 and CV23-285 returned subintervals of very high grade at 10.1 m at 3.22 per cent Li2O and 15.6 m at 3.26 per cent Li2O, respectively. These high-grade intercepts are situated at depth within the central areas of CV5, outside of the Nova zone, and highlight the robustness of the mineralized system.

Western extension:

• 30.5 m at 0.77 per cent Li2O, including 14.2 m at 1.57 per cent Li2O, and 21.0 m at 0.81 per cent Li2O, including 11.0 m at 1.46 per cent Li2O (CV23-283) -- collared in pegmatite;
• 21.3 m at 0.88 per cent Li2O, including 6.4 m at 1.87 per cent Li2O, and 24.9 m at 0.83 per cent Li2O, including 11.1 m at 1.80 per cent Li2O (CV23-295).

Over the western extension at CV5, the principal pegmatite is interpreted to have bifurcated into two subparallel trending bodies, both of which remain mineralized and open to the west and at depth. Additionally, very high-grade intervals continue to be discovered over the extension, including 3.9 m at 3.99 per cent Li2O (CV23-273), as well as in the final and most westerly drill hole completed in 2023 at CV5 (CV23-364), which returned a strong intercept of 13.1 m at 0.91 per cent Li2O, including 4.3 m at 2.22 per cent Li2O. Collectively, the results announced herein continue to demonstrate strong grades and widths of spodumene pegmatite at the western extension, which remains open.

Through 2023, the CV5 and CV13 spodumene pegmatites have been traced by drilling to within approximately 2.9 km of each other. This highly prospective corridor between the two spodumene pegmatites, also coincident with a local structural and magnetic trend, remains to be drill tested.

In 2023, at the Corvette property, the company completed a total of 78,213 m (266 holes), including 58,460 m (168 holes) at CV5, 14,917 m (74 holes) at CV13, 4,071 m (18 holes) at CV9 and 765 m (six holes) at Camp Shaakichiuwaanan.

The 2024 winter drill program, which recently concluded at the property, totalled 62,518 m (166 holes): 50,961 m (121 holes) at CV5 and 11,557 m (45 holes) at CV13. All results for this drilling remain to be reported. A summary update on the program is anticipated to be announced shortly.

Since discovery (fall 2021) through to the recently completed 2024 winter drill program, the company had completed 134,129 m (369 holes) at CV5, of which only 56,461 m (166 holes) were included in the June, 2023, MRE. The majority of the drilling completed since the June, 2023, MRE has been focused on infill rather than resource growth to upgrade the resource category from inferred to indicated at CV5.

An updated MRE for the Corvette project, incorporating drilling through April, 2024, is planned for third quarter 2024. This MRE update will include both the CV5 and CV13 spodumene pegmatites and a total anticipated metreage of 134,129 m (369 holes) and 29,121 m (133 holes), respectively. The primary objective of the Q3 2024 MRE update is to increase confidence in resource category at CV5, from inferred to indicated, to further support development studies under way.

Core sample assays for drill holes reported herein from the CV5 spodumene pegmatite are presented in the attached table for all pegmatite intersections greater than two metres.

(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 an 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. The Corvette property is ranked as the largest lithium pegmatite resource in the Americas based on contained LCE.

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 was 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 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 multielements (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS 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 4.6-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 km of prospective trend that remains 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 an 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. The Corvette property is the largest lithium pegmatite resource in the Americas based on contained LCE.

We seek Safe Harbor.