Mr. Simon Cheng reports

PATTERSON METALS ANNOUNCES ACQUISITION OF PENDLETON LAKE EXPLORATION CORP.

Patterson Metals Corp. has entered into an agreement, dated March 10, 2025, to acquire all of the issued and outstanding shares of Pendleton Lake Exploration Corp., a privately held company which holds the rights to acquire the Pendleton Lake uranium project, located in the prolific Athabasca basin.

The Pendleton Lake uranium project covers an area of approximately 415 hectares on the southeastern lip of the Athabasca basin. Since the early seventies, the project has been subject to multiple exploration programs, including airborne geophysical and prospecting programs. The principal exploration targets at Pendleton Lake are two radioactive boulder trains. In 1972, Canadian Occidental Petroleum Ltd. discovered several radioactive boulders 200 metres east of Pendleton Lake. The highest samples taken graded 7.17 per cent triuranium octoxide and 5.97 per cent U3O8. In 1980, Marine Oil Corp. examined a radioactive boulder train which extended for several kilometres on the eastern shore of Pendleton Lake. Multiple radioactive samples were taken, with the highest sample grading 1.01 per cent U3O8 and containing anomalous values for vanadium, barium and lead (Jean Descarraux, PhD, 1980).

Under the terms of the acquisition, the company will acquire all the shares of Pendleton Lake in exchange for the issuance of 500,000 common shares to the existing shareholder of Pendleton Lake. Pendleton Lake holds the right to acquire the Pendleton Lake uranium project, subject to a 1-per-cent royalty on net smelter returns, by completing a series of exploration expenditures totalling $500,000. The expenditures must be incurred within five years, with at least $100,000 of the expenditures incurred in the first two years.

The company is at arm's length from the vendor and Pendleton Lake. No finders' fees or commissions are payable by the company in connection with the acquisition. Completion of the acquisition remains subject to the approval of the TSX Venture Exchange and the satisfaction of customary closing deliveries.

"We are excited to move forward with the acquisition of Pendleton Lake as we continue to build a world-class portfolio of exploration-stage uranium projects," said Simon Cheng, president of the company. "The Pendleton Lake uranium project, with its historical high-grade samples and strategic location in the Athabasca basin, represents a significant opportunity for our company and our shareholders as we advance our exploration efforts in this globally renowned uranium district."

Qualified person

Dr. Peter Born, PGeo, is the designated qualified person as defined by National Instrument 43-101, and is responsible for, and has approved, the technical information contained in this release.

About Patterson Metals Corp.

Patterson Metals is a mineral exploration company with a focus on uranium. It creates value for its shareholders by engaging in promising mineral exploration opportunities. Its main goal is the advancement of various projects from discovery all the way to production. This vertically integrated strategy allows the company to achieve exceptional shareholder value through the entire life cycle of the mining process.

Patterson Metals owns the Carter Lake uranium project, which spans over 691 hectares on the western flank of the Athabasca basin, strategically positioned within the Carter Lake corridor, a substantial structural feature that runs parallel to the renowned Patterson Lake corridor -- home to mineralization control points for NexGen's Rook 1 deposit and Fission Uranium's PLS deposit.

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