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Patriot Battery Metals Inc
Symbol PMET
Shares Issued 137,146,586
Close 2024-07-02 C$ 5.20
Market Cap C$ 713,162,247
Recent Sedar Documents

Patriot Battery COO Way resigns

2024-07-02 18:45 ET - News Release

Mr. Kenneth Brinsden reports

BLAIR WAY TO RETIRE FROM HIS ROLE AS CHIEF OPERATING OFFICER

Blair Way has retired from his role as chief operating officer of Patriot Battery Metals Inc., effective June 30. Mr. Way will continue to serve on the Patriot board as a non-executive director and provide advisory services on a consulting basis over the coming months, ensuring a smooth transition for site and studies works.

Patriot's president and chief executive officer, Ken Brinsden, expressed his appreciation for Blair's involvement in the company to date: "On behalf of the board and management team, I would like to extend our gratitude and best wishes to Blair on his retirement from executive duties. His contribution cannot be understated, having led Patriot Battery Metals through its formation and the extraordinary Corvette lithium discovery, through the unprecedented challenges of the pandemic and external market conditions over the past four years. Blair's tireless efforts and leadership have been instrumental in the success of the company to date, growing from a sub $10-million market cap in late 2020 to now being one of the leading lithium raw materials development projects globally.

"We thank him for his exceptional contribution to Patriot's growth and development, wishing him and his family all the best for the future," Mr. Brinsden added.

Mr. Way said: "It has been a privilege to have had a hand in PMET's remarkable journey over the last four years and, as a director and significant shareholder, I look forward to the continued success of the company as it transitions from explorer to producer under Ken's experienced leadership."

Further building on the commitment to grow capacity in Canada and Quebec, the company is also pleased to announce the appointment of John Drapack to the role of director, studies, and Cathryn Moffett to the role of director, environment. Mr. Drapack has over 30 years of experience as a mining and mineral process engineer, including the project management of extensive underground and open pit study and development initiatives. Mr. Drapack will be instrumental in the progress of the company's upcoming PEA/scoping study, and the continuing feasibility study which is targeted for completion in the September quarter of 2025. Ms. Moffett has over 15 years experience in environmental and social impact assessments including numerous mining projects requiring fish compensation and offset plans. Ms. Moffett will be critical to the oversight of the ESIA which is on track for completion immediately following the feasibility study.

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.

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.

This news release has been approved by the Board of Directors.

We seek Safe Harbor.

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