Patriot Battery Metals Inc. announced additional drill results from the 2023 program completed at the CV13 Spodumene Pegmatite at the Corvette Property. The Corvette Property, is located in the Eeyou Istchee James Bay region of Quebec. The CV13 Spodumene Pegmatite is located approximately 3 km west-southwest of the CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred and is situated approximately 13.5 km south of the regional and allweather Trans-Taiga Road and powerline infrastructure.

Drill results for 22 drill holes completed in 2023 at the CV13 Spodumene Pegmatite are reported herein. These holes primarily target the near-surface and downdip extension of the principal pegmatite body in the apex of the regional host structure, as well as the immediate western limb. Results include: 26.1 m at 1.21% Li2O (CV23-286); 18.3 m at 1.33% Li2O (CV23-249); 19.1 m at 1.00% Li2O (CV23-250), and 16.4 m at 1.51% Li2O (CV23-294).

The drilling continues to trace spodumene pegmatite at CV13 to the west-northwest along geological trend and remains open along strike and downdip in this area. The most westerly drill result reported to date in this area include 19.1 m at 1.00% Li2O (CV23-250), as announced herein. The mineralized pegmatite in this area has a shallow northeasterly dip resulting in pegmatite being traced down dip for over 250 m with minimal drilling, while still only being approximately 100 m vertical depth below surface.

Additionally, the drill results reported herein have extended the previously identified higher-grade zone at the CV13 Spodumene Pegmatite (see news release dated October 18, 2023). Drill hole CV23-271 returned 10.6 m at 1.99% Li2O or 2.5 m at 5.28% Li2O within a wider interval of 15.7 m at 1.52% Li2O. This higher-grade zone now extends northeasterly along the eastern limb of the principal pegmatite for at least 200+ m, is present at shallow depth (typically within 40- 50 m vertical depth) and remains open in several directions.

Results of previously reported drill holes from this zone include 12.7 m at 2.46% Li2O (CV23-191), 8.0 m at 2.86% Li2O (CV23-195), 10.2 m at 2.70% Li2O (CV23-198), 10.7 m at 2.79% Li2O (CV23-200), 14.0 m at 2.14% Li2O (CV22-092), and 7.0 m at 1.98% Li2O (CV22-095). The CV13 Pegmatite is currently interpreted to be characterized by a principal "upper" dyke and a secondary "lower" dyke, as well as several subordinate sub-parallel dykes, and are collectively geologically modelled to be shallowly dipping northerly. The principal dyke (the "upper" dyke), which hosts the higher-grade zone, dips typically between 20-25° and has been traced at depth to at least 300 m down-dip (vertical depth from surface of ~140 m) and remains open.

Additional step-out drilling is planned at the CV13 Spodumene Pegmatite as part of the 2024 winter program currently underway at the Property. This is anticipated to include step-out drilling along strike and downdip of the principal pegmatite body, as well as delineation drilling at the higher-grade zone. Core sample assays for drill holes reported herein are presented in Table 1 for all pegmatite intersections >2 m. For drill holes completed in 2023, results remain to be reported for the CV13 Pegmatite (35 holes), the CV5 Pegmatite (54 holes), and the CV9 Pegmatite (18 holes).

The Company has completed processing of the drill core backlog from the 2023 program with the final samples to arrive on the lab shortly.