Mr. Kenneth Brinsden reports

PATRIOT MAINTAINS EXPLORATION & DEVELOPMENT MOMENTUM AT CORVETTE WITH EXTENSIVE SUMMER-FALL WORKPLAN

Patriot Battery Metals Inc. has provided an update on the 2024 summer-fall exploration and development programs at its 100-per-cent-owned Corvette property located in the Eeyou Istchee James Bay region of Quebec. The project, which hosts 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.

This multipronged and multidrill-rig fieldwork program has been designed to support the continued exploration and development of the Corvette project. Work is anticipated to include stepout drilling at the recently discovered Vega zone at the CV13 pegmatite and infill drilling at the CV5 pegmatite, as well as surface mapping and prospecting.

Additionally, significant environmental baseline data collection will continue to build on previous years in support of an environmental and social impact assessment submission for the project, which is on schedule for September, 2025.

Summer-fall exploration program under way

CV13 pegmatite (Vega zone)

The 2024 summer-fall exploration program has commenced with two drill rigs testing the recently discovered Vega zone at the CV13 pegmatite (see news release dated June 10, 2024). The objective of the program is to further expand and delineate the recently discovered high-grade mineralization at Vega. Approximately 10,000 metres of drilling is under consideration this summer-fall, targeting the CV13 spodumene pegmatite and immediate corridor toward the CV5 spodumene pegmatite.

Because the Vega zone was discovered in the final days of the 2024 winter program, only limited follow-up drilling has been completed. Results to date include 34.4 m at 2.90 per cent Li2O (CV24-470), and 33.4 m at 2.40 per cent Li2O, including 1.7 m at 7.01 per cent Li2O (CV24-507). The high-grade mineralization is relatively flat lying to shallow dipping, and remains open in multiple directions, with the results of multiple stepout holes remaining to be reported.

CV5 pegmatite

Infill drilling at the CV5 pegmatite is scheduled to resume in early July and will continue through late September. Several drill rigs will be deployed to support an increase in MRE confidence from the inferred category to the indicated category. This drilling will target inferred blocks as categorized in the pending MRE update, with the ultimate objective of delineating a coherent body of indicated mineral resource blocks to underpin a feasibility study scheduled for the second half of 2025.

The company anticipates adding an additional rig in August to undertake geomechanical drilling at CV5 to support advanced open-pit design. These drill holes will be completed at various orientations proximal to CV5 and the conceptual pit, and will target specific host rock types and structure, with optical and acoustic televiewer data to also be collected.

Additionally, several fences of drilling are planned across the conceptual open pit to test for mineralized pegmatite where waste rock has been modelled due to a lack of drill data.

In addition to the resource drilling, an expansive hydrogeological and geotechnical drill program commenced on site in early June. The program includes approximately 56 drill holes of various size (NQ, HQ, PQ and six inches), design and depth.

The geotechnical drilling will test rock and overburden characteristics at various proposed infrastructure locations to support the development of the project. This includes areas for the proposed mine camp, waste rock piles, process plant and other ancillary infrastructure.

The hydrogeological drill program will include the installation of monitoring wells and downhole equipment, as well as packer testing, within the conceptual open pit and other proposed infrastructure locations. Additionally, three large-diameter drill holes will be completed (two six inches and one PQ) in the CV5 area to conduct long-duration pumping tests for operational water supply and pit dewatering design. The data will further refine the preliminary hydrogeological model for CV5 developed in 2023.

An updated MRE for the Corvette project, incorporating all drilling through April, 2024, is scheduled for release in August, 2024. This update will include both the CV5 and CV13 spodumene pegmatites underpinning a consolidated mineral resource statement for the Corvette project.

Surface exploration began in late May, and will include detailed geological mapping at CV5 and CV13, in addition to channel sampling of pegmatite outcrop. Channel samples may effectively approximate a horizontal drill hole, thereby further constraining the geological model at surface with robust sample data.

Baseline environmental data collection to support the ESIA

To facilitate the completion of the environment and social impact assessment, due for submission to the regulators in September, 2025, the company is continuing baseline environmental data gathering at the Corvette project throughout the year.

Baseline environment data collection is being completed in partnership with local first nations. Key areas of focus include vegetation, wildlife and fish. Field studies are designed to meet the project guidelines issued by the government of Quebec in April, 2024. Reports on the fieldwork will be completed in June, 2025, and will inform the placement of project infrastructure, the assessment of potential impacts and the development of environmental mitigation measures.

Shaakichiuwaanaan exploration camp phase 1 completed

The company has completed the first phase of its 100-per-cent-owned exploration camp at Corvette, with a capacity of 80 persons, which supported the majority of its activities over the recently completed winter program. This camp is currently being expanded to facilitate accommodation for up to 150 persons and is anticipated to be operational later in the year.

Additional utility infrastructure is being installed over the coming months to ensure that this camp can be the sole operational centre for all activities at the Corvette project. The camp area includes provision for accommodation, office facilities, a workshop for contractors and a core processing building inclusive of on-site core storage.

The new Shaakichiuwaanaan camp is located closer to site than the previously utilized privately owned camp (Mirage outfitters camp), significantly reducing exploration costs and ensuring year-round accommodation for the Patriot Battery team to ensure seamless operations at the Corvette project.

In response to a request from the tallyman and the community of Chisasibi, Patriot Battery is pleased to name the camp Shaakichiuwaanaan. The name means climbing a hill or mountain, three of which are prevalent in the project area.

For reference, all of these project areas, including the camp, drilling (inclusive of CV13 and all other known surface spodumene outcrops at Corvette) and planned infrastructure development areas, all currently fall within trapline CH39 on the traditional territory of the Cree First Nation of Chisasibi only.

On June 1, the Patriot Battery board, executives, site workers and members of the Cree community shared a special celebration, including building a sabtuan (long teepee) and sharing traditional food at the Shaakichiuwaanaan camp. The elders and members of the tallyman's family travelled by helicopter with Patriot Battery team members to offer tobacco at the lake located near CV5.

All-season road operational

The company is pleased to announce that the CV5 pegmatite is road accessible year-round through the successful connection of CV5 to Shaakichiuwaanaan camp at KM-270 of the Trans-Taiga Road. The company continues to undertake maintenance (and some improvement works) on the approximately 20-kilometre all-season gravel road, which allows for access through to the southwest side of the CV5 deposit.

The construction of the all-season road to CV5 is a significant milestone for the company, especially when coupled with Shaakichiuwaanaan camp. This infrastructure has facilitated, and will continue to facilitate, significant cost savings in exploration by reducing dependency on helicopters for the movement of personnel, equipment and logistical support, as well as dramatically reducing distances to travel from staging to site (Shaakichiuwaanaan camp versus Mirage lodge).

The realization of these cost savings has already had a significant positive impact on the exploration cost (measured by a dollar-per-metre metric) since the camp became operational in January, 2024.

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 kilometres 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 parts per million tantalum oxide 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. This is the largest lithium pegmatite resource in the Americas based on contained LCE.

We seek Safe Harbor.