Patriot Achieves 6% Li2O Spodumene Concentrate Grade in Preliminary HLS Metallurgical Testwork on the CV13 Pegmatite Indicating Potential for Joint Processing with CV5

July 4, 2023 – Vancouver, BC, Canada July 5, 2023 – Sydney, Australia

Highlights

• Heavy Liquid Separation (“HLS”) testwork on five (5) core sample composites from the CV13 Pegmatite cluster indicate that a simple Dense Media Separation (“DMS”) process flowsheet is applicable.
• HLS testwork followed by magnetic separation produced 6+% Li2O spodumene concentrates at overall lithium recoveries exceeding 70%.
  • Strong recoveries at both low, moderate, and high feed grades.
• Fe2O3 content of ~0.60% in final spodumene concentrate following magnetic separation on HLS concentrate.
• Results provide a strong indication that material from both the CV13 Pegmatite and CV5 Pegmatite may be processed jointly using the same design criteria and flowsheet (i.e., processed at the same plant).

Mineral Process Consultant and Project Steering Group member, Brett Grosvenor, comments: “The results of this HLS testwork at CV13 are very positive and indicate strongly that joint processing with CV5 Pegmatite material is practical and viable. From a Project development, risk mitigation, and flowsheet perspective, it is difficult to ask for a better result.”

Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the results of preliminary Heavy Liquid Separation (“HLS”) testwork on CV13 Pegmatite core samples. The CV13 Pegmatite cluster is located approximately 3.8 km along geological trend westwardly of the CV5 Pegmatite cluster (Figure 1), where drilling has defined a large and continuous spodumene mineralized body (see news release dated June 14, 2023).

The primary objective of the HLS test program on CV13 is to assess the liberation and recovery characteristics of spodumene at different locations along the collective ~2.2-km trend that defines the cluster. HLS testing is a cost-effective way to rapidly assess the applicability of larger scale Dense Media Separation (“DMS”) processing, which is more reflective of an operating and continuous process, and the preferred method of spodumene pegmatite processing. Further, the data will allow for an initial assessment on the potential for joint processing with CV5 Pegmatite

Patriot Battery Metals Inc.

Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6 www.patriotbatterymetals.com TSX-V: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA material using the same design criteria and flowsheet (i.e., the same process plant). Prior HLS and DMS testwork completed on the CV5 Pegmatite demonstrates that a simple DMS only flowsheet is applicable (see news releases dated August 4, 2022, and December 19, 2022).

The benefits of DMS (± magnetic separation) compared to alternative recovery methods (i.e., flotation) are considerable and include relatively lower CAPEX and OPEX, reduced reagent needs, coarser product and tailings, quicker operational start-up, and overall, less technical risk. A DMS circuit also only requires a typically coarse crush size compared to a smaller crush size (or grinding), which results in reduced power consumption and less equipment.

The HLS test program on CV13 Pegmatite material utilized five (5), ~8-10 m, NQ-size, quartercore composite samples collected from drill holes CV22-077, 082, 084, 085, 092, and 103 across the western, central, and eastern portions of the collective ~2.2-km trend that defines the cluster (Figure 2). This included four (4) samples from the upper pegmatite body, and one (1) sample from the lower pegmatite body. The test program was completed by SGS Canada Inc. at their facility in Lakefield, ON, where the prior testwork for the Project was also completed.

Head grades for the composites ranged from 0.84% to 1.42% Li2O, averaging 1.14% Li2O, and included varied amounts of mica and tourmaline to further assess their impact on the process. The sample composites were crushed to -9.5 mm (-3/8”) – a coarse crush size – with the fine fraction (-0.85 mm) screened out, and followed by HLS tests at six (6) different cut points (2.65, 2.70, 2.80, 2.85, 2.90, and 2.95). Magnetic separation was also completed on the concentrate to assess any lingering iron mineral rejection (e.g., amphibole, mica). It should be noted that magnetic separation was only applied to some samples in order to reduce iron grades in the final concentrate. The requirement for magnetic separation to be included in the flowsheet will continue to be assessed further as the project progresses.

The Company is pleased to report that the testwork has returned very positive results with lithium recoveries ranging from 67% to 77% at an interpolated spodumene concentrate grade of 6.00% Li2O. Recoveries also remained strong on the lower grade samples, which is a testament to the coarse-grained nature of the spodumene making it more amenable to liberation. Collectively, the preliminary HLS results strongly indicate that a DMS only operation at CV13 is applicable. Further, the results support a joint processing approach for the CV5 and CV13 pegmatites, whereby both could be processed at reasonable recovery in the same process plant. Such a scenario is optimal and reduces site infrastructure footprints and needs in the event of joint development.

To date, the metallurgical data collected from the CV5 and CV13 pegmatites is highly encouraging and demonstrates that a DMS only flowsheet is applicable at both clusters. Further, the data suggests that both pegmatites could be jointly crushed and feed the same process plant, while maintaining reasonably high recoveries into a marketable spodumene concentrate of +5.5% Li2O. As a next step, the Company intends to collect a sizable and representative, composite drill core sample over the summer-fall of 2023 in order to feed a DMS pilot plant.

Figure 1: Location of the CV13 Pegmatite cluster relative to the CV5 Pegmatite cluster.

Figure 2: Distribution of composite core samples collected for HLS testwork at the CV13 Pegmatite cluster.

Figure 3: Results from the inaugural drill testing at the CV13 Pegmatite cluster, completed in 2022.

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About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 3.7-km long spodumene pegmatite (the ‘CV5 Pegmatite’) and multiple proximal secondary spodumene pegmatite lenses.

To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV5 Pegmatite and associated lenses, CV4, CV8-12, CV9, CV10, and CV13. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite ‘outcrop’ subsurface. Further, the high number of well-mineralized pegmatites along the trend indicate a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.

Qualified/Competent Person

The information in this news release that relates to exploration results for the Corvette 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, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 1968), 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 Vice President of Exploration for Patriot Battery Metals Inc. and a Senior Geologist and Project Manager with Dahrouge Geological Consulting Ltd. Mr. Smith 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 JORC Code, 2012. 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 Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada. The Corvette Property is one of the largest and highest-grade hard rock lithium projects being explored, with over 50 kilometres of strike length over a 214 square kilometre land package and over 70 lithium bearing pegmatite outcrops identified to date.

The Corvette Property is situated proximal to the all-weather Trans Taiga Road and Hydro-Québec power line infrastructure in the Eeyou Istchee James Bay region of Quebec. The Property hosts significant lithium potential highlighted by the CV5 Pegmatite, which has been traced by drilling over a strike length of at least 3.7 km with spodumene pegmatite encountered as deep as 425 m vertical depth.

For further information, please contact us at [email protected] or by calling +1 (604) 279-8709 or visit www.patriotbatterymetals.com. Please also refer to the Company’s continuous disclosure filings, available under its profile at www.sedar.com and www.asx.com.au, for available exploration data.

This news release has been approved by the Board of Directors,

“BLAIR WAY”

Blair Way, President, CEO, & Director

Disclaimer for Forward-Looking Information

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, including with respect to the ability of the Company to process minerals from its properties as proposed, or at all, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

No securities regulatory authority or stock exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

Appendix 1 – JORC Code 2012 Table 1 information required by ASX Listing Rule 5.7.1

Section 1 – Sampling Techniques and Data

	Criteria	JORC Code explanation	Commentary
Sampling • Nature and quality of sampling (eg cut • Core sampling protocols met or exceeded industry techniques channels, random chips, or specific standard practices. specialised industry standard • The five (5) HLS samples were comprised of saw- measurement tools appropriate to the cut, quarter-core intervals and collected from six minerals under investigation, such as down (6) different holes. hole gamma sondes, or handheld XRF • The HLS samples are collectively considered an instruments, etc). These examples should appropriate test approach to evaluate DMS at the not be taken as limiting the broad meaning greater CV13 Pegmatite cluster as a whole. of sampling. Samples were selected to be as representative as • Include reference to measures taken to practical. ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.
Drilling • Drill type (eg core, reverse circulation, • The samples utilized quarter-core NQ size drill techniques open-hole hammer, rotary air blast, auger, core. Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
Drill sample • Method of recording and assessing core • N/a – metallurgical testing reported in this release. recovery and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.
Logging • Whether core and chip samples have • N/a – metallurgical testing reported in this release. been geologically and geotechnically

	Criteria	JORC Code explanation	Commentary
logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.
Sub- • If core, whether cut or sawn and whether • Core sampling protocols met or exceeded industry sampling quarter, half or all core taken. standard practices. techniques • If non-core, whether riffled, tube sampled, • The five (5) HLS samples were comprised of saw- and sample rotary split, etc and whether sampled wet cut, quarter-core intervals and collected from six preparation or dry. (6) different holes. • For all sample types, the nature, quality • Sample size is considered appropriate for the test and appropriateness of the sample method at lab scale preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.
Quality of • The nature, quality and appropriateness • All core samples collected were shipped to SGS assay data of the assaying and laboratory procedures Canada’s Metallurgical laboratory in Lakefield, ON and used and whether the technique is • SGS (Lakefield) was responsible for selecting the laboratory considered partial or total. appropriate analytical method (NaO2 fusion tests • For geophysical tools, spectrometers, followed by ICP-OES) and ensuring adequate handheld XRF instruments, etc, the QAQC was satisfied, and the Company has relied parameters used in determining the upon such practice. SGS (Lakefield) is a well- analysis including instrument make and established metallurgical and analytical laboratory model, reading times, calibrations factors serving mineral exploration industry and is applied and their derivation, etc. independent of the Company. • Nature of quality control procedures • The assay techniques are considered appropriate adopted (eg standards, blanks, for the nature and type of mineralization present, duplicates, external laboratory checks) and result in a total digestion and assay for the and whether acceptable levels of elements of interest. accuracy (ie lack of bias) and precision have been established.
Verification • The verification of significant intersections • Assays were compiled and verified by SGS of sampling by either independent or alternative Canada, an analytical laboratory that is and company personnel. independent of the Company. assaying • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.

	Criteria	JORC Code explanation	Commentary
Location of • Accuracy and quality of surveys used to • N/a – metallurgical testing reported in this release. data points locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.
Data • Data spacing for reporting of Exploration • The HLS samples were comprised of ~8-10 m spacing Results. core-length, quarter-core composites at targeted and • Whether the data spacing and distribution locations within the CV13 Pegmatite, which would distribution is sufficient to establish the degree of allow assessment of liberation and recovery geological and grade continuity characteristics at varied depths and locations appropriate for the Mineral Resource and along strike. Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.
Orientation • Whether the orientation of sampling • N/a – metallurgical testing reported in this release. of data in achieves unbiased sampling of possible relation to structures and the extent to which this is geological known, considering the deposit type. structure • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Sample • The measures taken to ensure sample • Samples were collected by consultants to the security security. Company following specific protocols governing sample collection and handling. Core samples were bagged, placed in large supersacs for added security, palleted, and shipped by third party transport to SGS Lakefield, ON, being tracked during shipment. Upon arrival at the laboratory, the samples were cross-referenced with the shipping manifest to confirm all samples were accounted for. At the laboratory, sample bags are evaluated for tampering.
Audits or • The results of any audits or reviews of • N/a – metallurgical testing reported in this release. reviews sampling techniques and data.

Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

	Criteria	JORC Code explanation	Commentary
Mineral • Type, reference name/number, location • The Corvette Property is comprised of 417 claims tenement and ownership including agreements or located in the James Bay Region of Quebec with and land material issues with third parties such as all claims registered to the Company. The

	Criteria	JORC Code explanation	Commentary
tenure joint ventures, partnerships, overriding Property is located approximately 10-15 km south status royalties, native title interests, historical of the Trans-Taiga Road and powerline sites, wilderness or national park and infrastructure corridor. environmental settings. • The Company holds 100% interest in the Property • The security of the tenure held at the time subject to various royalty obligations depending of reporting along with any known on original acquisition agreements. DG Resources impediments to obtaining a licence to Management holds a 2% NSR (no buyback) on 76 operate in the area. claims, D.B.A. Canadian Mining House holds a 2% NSR on 50 claims (half buyback for $2M) and Osisko Gold Royalties holds a sliding scale NSR of 1.5-3.5% on precious metals, and 2% on all other products, over 111 claims. • The Property does not overlap any sensitive environmental areas or parks, or historical sites to the knowledge of the Company. There are no known hinderances to operating at the Property, apart from the goose harvesting season (April 20th to May 20th) where the communities request helicopter flying be completed. • Claim expiry dates range from September 2023 to July 2025.
Exploration done • Acknowledgment and appraisal of • N/a – metallurgical testing reported in this release by other parties exploration by other parties.
Geology • Deposit type, geological setting and • The Property is situated within the Lac Guyer style of mineralisation. Greenstone Belt, considered part of the larger La Grande River Greenstone Belt and is dominated by volcanic rocks metamorphosed to amphibolite facies. The claim block is dominantly underlain by the Guyer Group (basaltic amphibolite, iron formation) and the Corvette Formation (amphibolite of intermediate to mafic volcanics). Several occurrences of ultramafic rocks (peridotite, pyroxenite, komatiite) as well as felsic volcanics (tuffs) are also mapped over areas of the Property. The basaltic amphibolite rocks that trend east-west (generally south dipping) through this region are bordered to the north by the Magin Formation (conglomerate and wacke) and to the south by an assemblage of tonalite, granodiorite, and diorite. Several regional-scale Proterozoic gabbroic dykes also cut through portions of the Property (Lac Spirt Dykes, Senneterre Dykes). • The geologic setting is prospective for gold, silver, base metals, platinum group elements, and lithium over several different deposit styles including orogenic gold (Au), volcanogenic massive sulfide (Cu, Au, Ag), komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and pegmatite (Li,

	Criteria	JORC Code explanation	Commentary
Ta). • Exploration of the Property has outlined three primary mineral exploration trends crossing dominantly east-west over large portions of the Property – Maven Trend (copper, gold, silver), Golden Trend (gold), and CV Trend (lithium, tantalum). Lithium mineralization at the Property is observed to occur within quartz-feldspar pegmatite (LCT Pegmatites), often exposed at surface as high relief ‘whale-back’ landforms. The pegmatite is often very coarse-grained and off-white in appearance, with darker sections commonly composed of mica and smoky quartz, and occasional tourmaline. • The lithium pegmatites at Corvette are LCT Pegmatites. Core assays and ongoing mineralogical studies, coupled with field mineral identification and assays, indicate spodumene as the dominant lithium-bearing mineral on the Property, with no significant petalite, lepidolite, lithium-phosphate minerals, or apatite present. The pegmatites at Corvette also carry significant tantalum values with tantalite indicated to be the mineral phase.
Drill hole • A summary of all information • N/a – metallurgical testing reported in this release. Information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Data aggregation • In reporting Exploration Results, • N/a – metallurgical testing reported in this release. methods weighting averaging techniques, maximum and/or minimum grade