High-grade mineralised intercepts including 100.5 m at 1.62% Li₂O from in-fill drilling at the cornerstone CV5 Deposit, plus extensive geotechnical and hydrogeological drill programs completed supporting the Feasibility Study

Highlights

• Extensive in-fill drilling program successfully completed at the cornerstone CV5 Spodumene Pegmatite Deposit to support the ongoing Feasibility Study.
  • No further in-fill drilling is anticipated to achieve the primary objective of upgrading Inferred Mineral Resources to the Indicated category.
• Record 65,384 m drilled during summer/fall program, for a total of 128,052 m during calendar 2024, further de-risking and advancing the Project.
• Wide, well-mineralized, and high-grade pegmatite intercepts from in-fill drilling at CV5.
  • 124.5 m at 1.25% Li₂O, including 16.5 m at 2.32% Li₂O (CV24-613).
  • 100.5 m at 1.62% Li₂O, including 55.5 m at 2.01% Li₂O (CV24-651).
  • 77.3 m at 1.66% Li₂O, including 17.5 m at 2.16% Li₂O (CV24-639).
  • 67.2 m at 1.18% Li₂O, and 25.8 m at 2.65% Li₂O, including 17.6 m at 3.30% Li₂O (CV24-661).
  • 55.1 m at 1.31% Li₂O, including 9.5 m at 2.07% Li₂O (CV24-609).
  • 44.3 m at 1.47% Li₂O and 58.1 m at 1.21% Li₂O (CV24-591).
  • 48.5 m at 1.85% Li₂O, including 8.5 m at 4.86% Li₂O (CV24-616).
• Expansive geotechnical and hydrogeological drill campaigns also now largely complete at CV5 and at proposed infrastructure development sites – 70 holes (1,514 m) completed as part of the summer-fall program.
• Core assay results are reported in this announcement for 64 in-fill drill holes (22,408 m) at CV5 and 70 geotechnical & hydrogeological drill holes (1,514 m) to support CV5 development and the ongoing Feasibility Study.
  • Results for 98 drill holes (31,513 m) remain to be reported from CV5 – 90 in-fill (29,754 m) and 8 geomechanical (1,759 m).
  • Results for 33 drill holes (9,950 m) remain to be reported from CV13 – focused on extensions of the high-grade Vega Zone.
• Delivery of Feasibility Study and maiden Ore Reserve Estimate for the CV5 Spodumene Pegmatite remains on schedule for Q3-2025.

Darren L. Smith, Patriot Executive and Vice President of Exploration, comments: “We are extremely pleased with the considerable amount of work completed and results to date from our 2024 summer-fall drill program, which focused on advancing the CV5 Spodumene Pegmatite to Feasibility. The team has done a phenomenal job executing the program efficiently and cost effectively, delivering high-quality datasets that have exceeded our expectations in many regards. The successful completion of the 2024 drill programs at the cornerstone CV5 Spodumene Pegmatite marks a very significant milestone for the Project, laying the foundations for the Feasibility Study and maiden Ore Reserve Estimate, which remains on schedule for Q3-2025.

“With the bulk of the in-fill and development drilling now behind us, the team is focusing on other key workstreams and objectives to advance the Project through development. We are looking forward to a pivotal year ahead in 2025,” added Mr. Smith.

Patriot Battery Metals Inc. (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the completion of its 2024 summer-fall drill programs and reporting of the first batch of core assay results for in-fill holes at the CV5 Spodumene Pegmatite, which forms part of the Company’s wholly owned Shaakichiuwaanaan Property, located in the Eeyou Istchee James Bay region of Quebec.

The Shaakichiuwaanaan Property hosts a consolidated Mineral Resource Estimate of 80.1 Mt at 1.44% Li₂O Indicated and 62.5 Mt at 1.31% Li₂O Inferred¹. The CV5 Spodumene Pegmatite is accessible year-round by all-season road and is situated approximately 14 km from a major hydroelectric powerline corridor.

The focus of the 2024 summer-fall drill program at Shaakichiuwaanaan was to collect all remaining drill data required to support a Feasibility Study for the CV5 Spodumene Pegmatite, scheduled for completion in Q3-2025. This included:

• Significant in-fill drilling at CV5 to underpin a Mineral Resource update (focused on converting Inferred Resources to Indicated Resources) to underpin a maiden Ore Reserve Estimate, which will be declared as part of the Feasibility Study.
• Expansive geotechnical and hydrogeological drilling at CV5, and areas of proposed infrastructure in support of development.
• Geomechanical drilling targeting various areas of the anticipated open-pit and underground development at CV5.

Drill results for 64 in-fill drill holes at the CV5 Spodumene Pegmatite are reported in this announcement (Figure 1). Results continue to demonstrate that high grades and large spodumene crystal sizes are consistently present along the 4.6 km mineralized pegmatite strike length defined to date (Figure 2 and Figure 3).

The in-fill drill program at CV5 was completed in early October and targeted Inferred classified blocks within the current Mineral Resource (see news release dated August 5, 2024), which are anticipated to be included in the Feasibility Study mine plan.

Additionally, optical and acoustic televiewer data was collected in more than 20 holes at CV5 during the program to capture oriented structural data to support geological modelling and mine design. The various datasets collected are currently undergoing final validation and are being incorporated into an updated pegmatite and host rock geological model.

The Company and its geological consultants are working closely to finalize this geological model over the next few weeks as the program’s final assays are received, which will then advance towards a classified block model (Indicated / Inferred) to underpin Feasibility mine design.

From the summer-fall program, results for a total of 98 drill holes (31,513 m) remain to be reported from CV5 – 90 in-fill (29,754 m) and 8 geomechanical (1,759 m). Additionally, results for a total of 33 drill holes (9,950 m) remain to be reported from CV13 – focused on the high-grade Vega Zone (Figure 5) (see news release dated July 7, 2024). Core sample assays for drill holes reported herein are presented in Table 1 for all pegmatite intersections >2 m. Drill-hole locations and attributes are presented in Table 2.

In addition to the in-fill drilling at CV5, a large component of the summer-fall program comprised an expansive geotechnical and hydrogeological drill program at CV5 and areas of proposed infrastructure in support of development and the ongoing Feasibility Study. This included locations for the proposed process plant, mining camp, stockpiles, waste rock and tailings management facilities, as well as the envisioned open-pit and underground development areas of the CV5 Spodumene Pegmatite (Figure 4).

The objective of the hydrogeological drilling is to characterize the shallow and deep groundwater flow regime over the Project area. The objective of the geotechnical drilling is to characterize the overburden and immediate bedrock contacts to support infrastructure build design. Often both hydrogeological and geotechnical data is collected from the same drill hole. No mineralized pegmatite intervals were encountered in these holes, as was expected due to their typically very shallow nature (average depth of 22 m) and regional locations (see news release dated October 27, 2024, for additional program details).

A collective 70 drill holes were completed as part of the summer-fall geotechnical and hydrogeological program, all reported in this announcement. Location and attribute information for the geotechnical and hydrogeological drill holes are presented in Table 3.

Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite.

Quality Assurance / Quality Control

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches at a rate of approximately 5% each. Additionally, analysis of pulp-split sample duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.

All core samples collected were shipped to SGS Canada’s laboratory in Val-d’Or, QC, or Radisson, QC, for sample preparation (code PRP90 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).

Qualified/Competent Person

The information in this news release that relates to exploration results for the Shaakichiuwaanaan Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.

Mr. Smith is an Executive and Vice President of Exploration for Patriot Battery Metals Inc. 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 JORC 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 Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette) located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral Resource¹, which includes the CV5 & CV13 spodumene pegmatites, totals 80.1 Mt at 1.44% Li₂O Indicated, and 62.5 Mt at 1.31% Li₂O Inferred, and ranks as the largest lithium pegmatite resource in the Americas, and the 8^th largest lithium pegmatite resource in the world.

A Preliminary Economic Assessment was announced for the CV5 Pegmatite August 21, 2024, and highlights it as a potential North American Lithium Raw Materials Powerhouse. The PEA outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation (“DMS) only process flowsheet.

Figure 1: Drill holes completed to date at CV5 with result highlights in this announcement. (CNW Group/Patriot Battery Metals Inc.)

Figure 2: Very high-grade spodumene pegmatite interval with very large spodumene crystals from the western area of CV5 (drill hole CV24-616), located approximately 2 km west of the high-grade Nova Zone. The core grades 4.76% Li2O over 8.5 m (286.9 m to 295.4 m). (CNW Group/Patriot Battery Metals Inc.)

Figure 3: Very large, near inclusion free, spodumene crystals in quartz pegmatite at CV5 from drill-hole CV24-627 (depth of 166.5 m). (CNW Group/Patriot Battery Metals Inc.)

Figure 4: Geotechnical and hydrogeological drill holes completed in support of CV5 development. (CNW Group/Patriot Battery Metals Inc.)

Figure 5: Drill holes completed during 2024 at the CV5 and CV13 spodumene pegmatites. (CNW Group/Patriot Battery Metals Inc.)

Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite. (CNW Group/Patriot Battery Metals Inc.)

Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite. (CNW Group/Patriot Battery Metals Inc.)

Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite. (CNW Group/Patriot Battery Metals Inc.)