Patriot Battery Metals Inc. announced analytical results for CV22-017, the first hole completed by Rig #2 during the winter/spring drill program at the Company's wholly owned Corvette Property (the "Property"). Drill hole CV22-017 was designed to test the CV1 Pegmatite outcrop's mineralization at depth and is the first drill hole to test the target, located approximately 1.1 km northeast of and on trend with the CV5 Pegmatite (Figure 1). The drill hole was collared over lake ice from the outcrop's northside at an orientation of 158°/45°, with an end-of-hole depth of 344.7 m. The drill hole encountered pegmatite deeper than anticipated based on interpreted orientation of the CV1 Pegmatite at the time, and returned the widest high-grade lithium mineralized interval to date at 3.01% Li2O over 40.7 m within a wider zone of 2.22% Li2O over 70.1 m. The strong lithium grades were also accompanied by strong tantalum grades of 160 ppm and 147 ppm Ta2O5, respectively.

In addition to returning the widest high-grade lithium mineralized interval to date from the Property - 3.01% Li2O over 40.7 m within a wider zone of 2.22% Li2O over 70.1 m - drill hole CV22-017 also returned the higher grade of lithium to date from an individual core sample at 6.35% Li2O over 0.92 m. This equates to a spodumene content in the sample of approximately 80%. Further, drill hole CV22-017 returned nine (9) samples >4% Li2O and four (4) samples >5% Li2O further demonstrating the high-grade potential the CV5-1 Pegmatite corridor has. The drill hole also returned five (5) core samples assaying >400 ppm Ta2O5 to a peak of 1,120 ppm Ta2O5 (2.07% Li2O) over 1.0 m. Geological modelling indicates the mineralized intercept in hole CV21-017 (70.1 m) is part of the main pegmatite body trending through the pegmatite corridor, which connects to the CV5 Pegmatite to the west.

Based on geophysical, surface, and drill data collected to date, the CV1 outcrop may represent a splay off the main pegmatite body at depth, or a second sub-parallel trending body marked by a fault offset between. Additional drilling is required to refine the geological model in this area, and the extent of this high-grade zone, and will be a high priority for the summer/fall phase of drilling. The CV4 lithium pegmatite outcrops - three (3) outcrops with recent sample assays ranging from 0.28-2.00% Li2O - are located approximately 2.8 km along trend of the CV1 Pegmatite outcrop, which was targeted with drill hole CV22-017.

The current geological model and results of hole CV22-017 suggest a strong potential along this corridor through to CV4 and will be an additional focus of drill exploration in 2022 as a potential extension eastward along this trend of the mineralized pegmatite and high-grade zone is tested. The drill collar for hole CV22-017 is located approximately 900 m along trend of drill hole CV22-018 and is the easternmost drill hole with assays reported to date. When coupled with the 2021 drill holes, a total of nine (9) drill holes, over along an approximate 1,800 m trend, have reported strong grades of lithium-tantalum mineralization.

Core assay results for an additional fifteen (15) drill holes over this trend completed as part of the winter/spring program remain to be reported. The Company is using SGS Canada (Lakefield, ON, and Burnaby, BC, facilities) as their primary analytical lab with all samples from the program having arrived at the lab. The Company will continue its fully funded 2022 drill campaign June 1st, with an additional 15,000 m of NQ coring planned over the summer/fall period.

This drilling will focus on continued land-based infill and step-out holes around CV5-6 and CV1-2, as well as testing new regional targets. The Company has secured a third drill rig for June/July, as well as a barge to allow for continued delineation of the mineralized pegmatite beneath the shallow lake between the CV5 and CV1 pegmatites, and potential extensions eastward. The addition of the third rig will enable increased coring production and drill exploration of spodumene pegmatite elsewhere at the Property.

The surface component of the 2022 drill program will commence in mid-June with detailed outcrop mapping proximal to the known spodumene pegmatite outcrops present across the Property (CV1 through CV12). This data will help with local structural interpretation and allow for refined drill hole targeting. Additionally, the new claim blocks of the Property recently acquired by the Company (Felix, Deca-Goose, and Corvette East) will be prospected for lithium pegmatite.

Historically, pegmatite outcrops have been documented over these claim blocks; however, the large majority have not been assessed for lithium mineralization, representing more than 25 km of prospective trend. The Company notes that it has developed a COVID Management Plan for the program and will carry out its field programs while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.