Patriot Battery Metals Inc. announced results from its 2023 surface exploration campaign at the Corvette Property. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred, is situated central to the Property, approximately 13.5 km south of the regional and all?weather Trans-Taiga Road and powerline infrastructure.

The 2023 surface exploration program at Corvette included ground geophysics, geological mapping, channel sampling, and regional prospecting. The program was completed sporadically over the summer-fall field season due to the unprecedented wildfires in the province, which significantly reduced the program's scope. Despite the disruptions, the 2023 surface exploration at Corvette continued to build upon prior success, highlighted by the discovery of a new spodumene pegmatite occurrence, herein termed "CV14", located southwest along the same magnetic trend as the CV9 and CV10 spodumene pegmatite clusters.

Grab sample assays from the principal pegmatite outcrop (approximately 33 m x 9 m), comprised of spodumene hosted in a smoky-quartz and feldspar groundmass, include 0.94% Li2O and 0.86% Li2O. Collectively, CV14 forms part of an approximate 3.6 km long prospective spodumene pegmatite trend extending through CV10, and to the CV9 Spodumene Pegmatite. This discovery at CV14 highlights a local trend of growing significance and prospectivity, and requires additional prospecting and mapping.

Additionally, approximately 450 m up-ice to the northeast of CV14 a mineralized pegmatite boulder was discovered (0.53% Li2O). Based on interpreted glacial ice direction in the area, it may suggest the potential for a yet to be discovered lithium pegmatite to be present to the north-northeast of the primary CV9-CV10-CV14 trend. Limited surface exploration has been completed in this area to date.

A total of 474 surface rock grab/chip samples were collected over the course of the 2023 prospecting program. In addition to the discovery of the CV14 spodumene pegmatite occurrence (outcrop), a plethora of spodumene mineralized pegmatite boulders were discovered south of the CV5 Spodumene Pegmatite with 29 boulders, dominantly subangular and 1-3 m in size, assaying between 0.49% Li2O to 3.22% Li2O. Interpretation of glacial ice movement over the Property indicates that, although many of these boulders are undoubtedly sourced from the principal CV5 Pegmatite body, a significant number indicate spodumene pegmatite(s) is present near-surface immediately south of CV5, and along strike eastwardly of the principal CV5 pegmatite body towards CV4, where it remains open.

Other mineralized boulders on the property also suggest undiscovered spodumene pegmatite to the north of the primary CV Lithium Trend. These include a large (2 m x 2 m) mineralized boulder (1.00% Li2O) discovered in 2019 to the north of the CV5?13 corridor, suggesting potential for yet to be discovered spodumene pegmatite north of CV5. Also, two mineralized boulders (2.20% and 2.69% Li2O), discovered in 2021, located northeast of the CV8 Spodumene Pegmatite suggest potential for yet to be discovered spodumene pegmatite northeast of CV12 and north of CV13.

A tightly spaced (50 m) ground magnetic survey over the CV5 through CV13 corridor was also completed in 2023. The data has further resolved local geological trends along the corridor and will provide strong guidance as drilling advances through this area. There is a distinct lack of outcrop over the corridor due to glacial till cover, further highlighting the value of the magnetic dataset to assist in understanding the local structure and trends which can be used as a general proxy to interpret pegmatite location.

At CV13, the surface channeling campaign, which began in 2022, continued in 2023 with 147 m of channel sampling completed. Results in 2023 include 13.4 m at 1.22% Li2O, 6.4 m at 1.44% Li2O, 5.4 m at 1.93% Li2O, and 16.7 m at 0.80% Li2O, including 8.1 m at 1.36% Li2O. A peak sample of 6.43% Li2O (over 0.5 m) was also collected.

Of the 147 m of channel sampling completed in 2023 at CV13, a total of 139 m consisted of pegmatite and collectively averaged 0.51% Li2O and 120 ppm Ta2O5. The channel sampling data, which effectively approximates a horizontal drill hole, will help constrain the geological model for CV13 ahead of a maiden mineral resource estimate scheduled for third quarter of 2024. The 2023 surface work also included initial prospecting over approximately 1/3 of the Property's Corvette East claim block.

Although a significant amount of pegmatite was discovered in this area of the Property, no spodumene pegmatite was identified. However, multiple samples returned anomalous pathfinder geochemistry, including low K/Rb ratios indicating evolved and highly fractionated pegmatites are present. The area remains of high interest for continued surface exploration with a significant number of LiDAR derived targets remaining to be prospected.

The 2024 surface exploration campaign is currently being designed; however, is anticipated to include: Follow-up of the CV14 Spodumene Pegmatite discovery with targeted prospecting traverses and mapping, as well as channel sampling. Follow-up of the multiple boulder fields indicating yet to be discovered spodumene pegmatite. Additional detailed geological mapping of the CV5 Spodumene Pegmatite to further constrain the geological model at surface.

Continued channel sampling of the CV5 and CV13 pegmatites to constrain the geological model near surface and support an indicated mineral resource classification. A Quality Assurance /Quality Control protocol following industry best practices was incorporated into the program and included insertion of quartz blanks and certified reference materials into sample batches submitted to the laboratory. All surface samples collected were shipped to SGS Canada's laboratory in Val-d'Or, QC, for sample preparation (code PRP89 special) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns.

The pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC, where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50). Management cautions that prospecting surface rock samples and associated assays, as discussed herein, are selective by nature and represent a point location, and therefore may not necessarily be fully representative of the mineralized horizon sampled.