Mr. Darren Smith reports

PATRIOT EXPANDS LAND POSITION ON THE CORVETTE TREND

Patriot Battery Metals Inc. has entered into a definitive agreement to increase its land position at its Corvette property through the acquisition from Azimut Exploration Inc. of a 100-per-cent interest in a proximal claim block termed JBN-57, which comprises 39 claims (1,995 hectares) located on trend with the Corvette property. The Corvette property, which is 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 (MRE) of 109.2 million tonnes at 1.42 per cent Li2O (lithium oxide) inferred, 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, comments: "The acquisition is an excellent addition to our Corvette landholdings. The claim block overlies a prospective structural corridor and regional contact along geological trend of the CV5 spodumene pegmatite. We look forward to including this new ground in our 2024 summer fieldwork programs."

The JBN57 claim block is situated immediately adjacent to the north of the company's eastern claim block at Corvette. The JBN57 claims cover a local structural corridor and regionally mapped northern contact of the greenstone belt that hosts the CV5 spodumene pegmatite. The company believes there is a strong lithium-cesium-tantalum pegmatite exploration potential over the new claim block and is a very complementary addition to the Corvette property.

Terms of the acquisition

Pursuant to a property purchase agreement between the company and Azimut, Patriot has agreed to acquire a 100-per-cent interest in the claim block for the following consideration:

• An aggregate cash payment of $500,000 to be paid to Azimut upon closing of the acquisition;
• An aggregate of 150,000 common shares in the capital of the company to be issued to Azimut upon closing.

As additional consideration for the acquisition, the company will grant to Azimut a 2-per-cent net smelter return royalty interest in the future minerals produced from the claim block.

The completion of the acquisition is subject to the approval of the Toronto Stock Exchange (the TSX). The Patriot shares to be issued on closing will be subject to a hold period expiring four months and one day following closing. No finder's fees or commissions were paid in connection with the acquisition.

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 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, 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 Mr. 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.