Mr. Darren Smith reports

PATRIOT DRILLS 124.9 M AT 1.72% LI2O AND 35.6 M AT 3.78% LI2O IN FINAL BATCH OF CV5 ASSAYS AHEAD OF Q3 RESOURCE UPDATE

Patriot Battery Metals Inc. has released the final batch of core assay results from the CV5 spodumene pegmatite from its recently completed 2024 winter drill program at Corvette. The 100-per-cent-owned Corvette property 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, 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: "These final holes from our winter program at CV5 continue to impress and demonstrate the scale of mineralization over a significant strike length. With the focus at CV5 on upgrading the confidence of mineral resources from the inferred to indicated categories, we are confident in meaningful conversion in our pending [mineral resource estimate] update, on schedule for [third quarter] 2024."

Core assay results for 67 drill holes, completed during the 2024 winter drill program at the CV5 spodumene pegmatite, are reported in this announcement. These are the final batch of core assay results from CV5 drill holes of the program. Highlights include:

• 124.9 metres at 1.72 per cent lithium oxide, including 13.4 m at 4.04 per cent Li2O (CV24-433);
• 135.7 m at 1.02 per cent Li2O, including 44.7 m at 2.03 per cent Li2O (CV24-410);
• 112.7 m at 1.20 per cent Li2O, including 21.7 m at 1.93 per cent Li2O (CV24-503);
• 116.1 m at 0.91 per cent Li2O, including 11.8 m at 3.01 per cent Li2O (CV24-447);
• 95.1 m at 1.39 per cent Li2O, including 33.3 m at 2.00 per cent Li2O (CV24-409);
• 93.5 m at 1.54 per cent Li2O and 29.2 m at 2.08 per cent Li2O (CV24-386);
• 91.0 m at 1.46 per cent Li2O, including 13.3 m at 3.42 per cent Li2O (CV24-415A);
• 63.7 m at 2.68 per cent Li2O, including 35.6 m at 3.78 per cent Li2O (CV24-404);
• 80.5 m at 1.41 per cent Li2O, including 15.4 m at 2.84 per cent Li2O (CV24-452);
• 64.7 m at 2.15 per cent Li2O and 53.7 m at 1.58 per cent Li2O (CV24-467).

These drill holes tested the majority of the strike length currently defined at CV5, which remains open at both ends, at various depths and orientations.

The 2024 winter drill program at CV5 focused on resource infill and covered approximately 3.9 kilometres of the total 4.6-kilometre pegmatite strike length defined to date. The primary objective of the infill drilling is to improve the confidence of the geological model at CV5 to support an upgrade of mineral resources from the inferred category to the indicated category. This includes the delineation of a coherent body of indicated mineral resources to support advanced development and pending economic studies at CV5.

The program also included six geomechanical holes (with five reported in this announcement), which were completed to support open-pit design at CV5. These holes were completed at various locations and orientations proximal to the margins of the pegmatite and targeted specific host rock types and structure, with optical and acoustics televiewer data also collected. Two of these holes intersected significant intervals of spodumene pegmatite with results including 116.1 m at 0.91 per cent Li2O (CV24-447) and 56.4 m at 1.80 per cent Li2O (CV24-479).

The 2024 winter drill program totalled 62,518 m (166 holes), including 50,961 m (121 holes) at CV5 and 11,557 m (45 holes) at CV13. Core assay results for all drill holes completed at CV5 during the program have been reported. A total of 4,538 m (16 holes) remain to be reported from CV13 and include multiple stepout drill holes targeting the high-grade Vega zone (see news release dated June 10, 2024).

An updated MRE for the Corvette project, incorporating drilling through April, 2024, is scheduled for Q3 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.

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 sample duplicates was completed to assess analytical precision, 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., or Radisson, Que., for sample preparation (code PRP90 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 lithium and tantalum) 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 approximately 4.6-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 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 significant areas 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 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 project is the largest lithium pegmatite resource in the Americas based on contained LCE.

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