Mr. Kenneth Brinsden reports

PATRIOT FILES FINAL BASE SHELF PROSPECTUS

Patriot Battery Metals Inc. has obtained a receipt for a final short form base shelf prospectus, further to its filing of a preliminary short form base shelf prospectus, previously announced on July 11, 2024. Both documents have been filed with the securities regulatory authorities in each of the provinces of Canada.

In Canada, the use of a base shelf prospectus is customary practice as it allows companies to undergo applicable Canadian regulatory review process before commencing any offer of securities. Importantly, and generally speaking, securities issued under a shelf prospectus supplement filed under a base shelf prospectus are not subject to a four-month mandatory hold period in Canada. As there are only limited scenarios where Australian Securities Exchange applies hold periods for issues of securities, for dual Toronto Stock Exchange-ASX-listed Canadian issuers, filing a base shelf prospectus (which is effective for a period of 25 months from the date it becomes final) broadly facilitates alignment for issues of shares across the ASX and TSX.

The company has no immediate plans to issue securities under the base shelf prospectus, and may never issue any securities under this prospectus. The terms of any security offer will be made subject to applicable securities laws and depending on the final structure and size of any security offer, the company may require shareholder approval under the ASX listing rules.

Patriot has filed this base shelf prospectus in order to provide the company with greater financial flexibility going forward (and broadly facilitating alignment for the process to issue shares on the TSX to that provided on the ASX), but has not entered into any agreements or arrangements to authorize or offer any securities at this time.

As previously announced, the base shelf prospectus will allow the company to offer and issue common shares, preferred shares, debt securities, warrants, subscription receipts, units or any combination thereof for up to an aggregate offering price of $250-million during the next 25-month period. The specific terms of any offering of securities under the base shelf prospectus, including the use of proceeds from any offering, will be set forth in a shelf prospectus supplement which will be filed with the applicable Canadian securities regulatory authorities.

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 million tonnes at 1.42 per cent lithium oxide inferred (1), reported on July 31, 2023, 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. This is the largest lithium pegmatite resource in the Americas based on contained LCE.

We seek Safe Harbor.