PMET.TO · 2022-06-23 12:00:00

Patriot Announces Best Drill Intercept to Date – 1.22% Li2O over 152.8 m – at the Corvette Property, Quebec

Drill Results

Patriot Battery Metals Inc.

Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6

www.patriotbatterymetals.com CSE: PMET / OTC: PMETF / FSE: R9GA

Patriot Announces Best Drill Intercept to Date – 1.22% Li2O over

152.8 m – at the Corvette Property, Quebec

June 23, 2022 – Vancouver, BC, Canada

Highlights

• Best lithium intercept to date returned from final suite of drill holes reported from the winter phase of the

2022 drill campaign

o 1.22% Li2O and 138 ppm Ta2O5 over 152.8 m, including 1.51% Li2O and 100 ppm Ta2O5 over

66.0 m (CV22-030)

o 1.45% Li2O and 1 77 ppm Ta2O5 over 84.0 m, including 3 .62% Li2O and 200 ppm Ta2O5 over

9.0 m (CV22-028)

o 0.95% Li2O and 158 ppm Ta2O5 over 31.6 m, including 2.90% Li2O and 356 ppm Ta2O5 over 5.4 m

(CV22-029)

• As a result of the w inter drill program, lithium mineralized pegmatite has been traced in drill hole over

a strike length of approximately 1.4 km and remains open in all directions

o Drilling confirms lithium pegmatite continues beneath and across the shallow glacial lake extending

from the CV5 Pegmatite outcrop in the west, to the CV1 Pegmatite outcrop in the east – thus

achieving the programs primary objective

• The summer/ fall phase of the 2022 drill campaign has commenced with two (2) drill rigs currently

operating on site at the CV5-1 pegmatite corridor, with seven (7) holes over 2,207 metres completed to date,

and a third rig scheduled to arrive in July

Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTC QB: PMETF) (FSE: R9GA) is

pleased to announce the final set of core assay results from the winter phase of its 2022 drill campa ign at the

Company’s wholly owned Corvette Property (the “Property”). The Property is located proximal to the regional and

all-weather Trans-Taiga Road and powerline infrastructure, within the James Bay Region of Quebec.

Darren L. Smith, P.Geo. and Vice President of Exploration for the Company, comments: “ The winter phase of our

2022 drill campaign has exceeded all expectations. The program has extended lithium mineralized pegmatite over a

strike length of at least 1.4 km, remaining open in all directions, and appears to be widening with depth. The scale of

this discovery continues to expand and is highlighted by a single mineralized pegmatite body of significant thickness

and length that has been defined to date. The exploration team has carried out this program with an incredible work

ethic. Having just returned from site, the dedication to the operations is palpable. I am very excited for what the

summer/fall drilling has in store for us as well as for the surface exploration to be completed over areas of the Property

that have never been assessed for lithium”.

Blair Way, Company President, CEO and Director, comments: “With assays now announced for these final four drill

holes of our winter program – which continue to emphasize the considerable potential of this discovery – we are

looking forward to aggressively advancing with additional drilling and surface work through the summer and into the

fall. The results to date continue to impress, and I look forward to unlocking the remarkable potential of our Corvette

Property and continue to build significant shareholder value in the process.”

Core assay results are announced herein for the remaining four (4) drill holes to be reported from the 2022 winter drill

program – CV22-028, 029, 030, and 034. The results include some of the strongest drill intersections to date, including

1.22% Li2O and 138 ppm Ta 2O5 over 152.8 m (CV22-030) and 1.45% Li 2O and 177 ppm Ta 2O5 over 84.0 m

(CV22-028). Drill holes CV22 -030 and CV22- 028 were collared approximately 700 m apart and are interpreted to

have intersected the same pegmatite body based on geological modelling. The strong grades and wide intercepts

returned in two (2) drill holes 700 m apart, within the same pegmatite body, demonstrate the scale of the mineralized

system. A summary of lithium (and tantalum) intercepts for the four (4) drill holes reported herein is presented in

Table 1 and Figures 2 and 3. Drill hole locations are presented in Figure 1. Two cross-sections are presented in Figure

4 and select drill core photos are presented in Figures 5 and 6.

Drill hole CV22-029 was completed at the eastern end of a shallow glacial lake, approximately 700 m east of the CV5

Pegmatite outcrop and 250 m west of the CV1 Pegmatite outcrop (Figure 1). The drill hole confirms that lithium

mineralized pegmatite continues beneath and across the entirety of the lake with an intercept of 0.95% Li2O and 158

ppm Ta2O5 over 31.6 m, including 2.90% Li2O and 356 ppm Ta2O5 over 5.4 m.

Drill hole CV22 -028 was completed as a 50 m step -back to CV22- 027 (0.95% Li2O over 65.7 m, including 1.39%

Li2O over 26.6 m – see news released dated June 13, 2022) and returned a wide and strongly mineralized intercept of

1.45% Li2O and 177 ppm Ta2O5 over 84.0 m, including 3.62% Li2O and 200 ppm Ta2O5 over 9.0 m. The intercept

suggests that the zone of lithium mineralization is widening with depth and increasing in grade at this location

of the trend (Figure 4).

Drill hole CV22-030 targeted the CV5 Pegmatite at depth and was the final drill hole collared on ice during the winter

drill program. The drill hole returned the best lithium intercept to date at Corvette (based on lithium grade x width) at

1.22% Li2O and 138 ppm Ta2O5 over 152.8 m, including 1.51% Li2O and 100 ppm Ta2O5 over 66.0 m. Similar

to other areas tested along the trend, the pegmatite – and corresponding lithium mineralization – is interpreted to be

widening with depth (Figure 4). At this location, the main pegmatite body is estimated to exceed 100 m in thickness.

The final drill hole of the program, CV22-034, was completed on land and targeted the west end of the CV5 Pegmatite

outcrop at depth. The drill hole was paused in spodumene pegmatite – and the drill put on temporary standby – to

respect a regional pause in exploration activities as requested by the local communities to accommodate the goose

hunting season. The drill hole returned a number of pegmatite intercepts, collectively compositing to approximately

40 m of pegmatite, and encountered highly fractured sections indicative of faulting. Mineralized intercepts include

0.82% Li2O over 17.7 m (the largest individual pegmatite intercept) and 1.03% Li2O over 4.0 m. The Company intends

to follow-up with step-out drill holes on either side of CV22 -034 to more accurately constrain the geological model

at this location.

A total of twenty (20) NQ size diamond drill holes (4,345 m) were completed during the winter/spring phase of the

2022 drill campai gn and included seventeen (17) holes collared over ice, and three (3) holes collared over land.

Collectively, the information gained from the winter drill program supports the interpretation of a large, dominantly

spodumene-bearing, pegmatite body of significant continuity, thickness, and length, extending from the CV5

Pegmatite outcrop beneath and across a shallow lake to the south of the CV1 Pegmatite outcrop – a distance of

approximately 1.4 km – and is flanked in several areas by relatively narrow and sub-parallel trending spodumene -

bearing pegmatites. The main pegmatite body has been traced to a vertical depth of at least 180 m (CV22- 030) and

additional pegmatite encountered down to a vertical depth of approximately 265 m – ending in spodumene pegmatite

(CV22-034). Geological modelling is ongoing and being refined with each additional drill hole completed. However,

based on drill holes through CV22- 034, the thickness of the main spodumene -bearing pegmatite body ranges from

approximately 15 to 20 m (typically near surface) to greater than 100 m (at depth beneath the CV5 Pegmatite).

The summer/fall phase of the 2022 drill campaign commenced in early June with two (2) drill rigs and, to date, a total

of seven (7) holes (2,207 m) have been completed from land-based pads. Additionally, the surface exploration program

commenced earlier this week with detailed mapping over the CV5-1 pegmatite corridor, to be followed by prospecting

and mapping over a more than 25 km trend across the Property that has never been assessed for lithium pegmatite .

The Company will provide further details on the progress of these programs as they advance .

Figure 1: Drill hole collar locations through the 2022 winter drill program

Table 1: Mineralized drill intercept summary for drill holes completed as part of the 2022 winter program

Target Land/Ice Hole ID From

(m)

Interval

(m)

Li2O

(%)

Ta2O5

(ppm)

Total

Depth

(m)

Azimuth

(°)

Dip

(°) Date Reported

CV22-015 27.1 37.0 9.9 0.76 83

incl. 27.1 32.0 4.9 1.14 96

51.5 58.3 6.8 1.22 113

70.6 75.1 4.5 0.99 105

CV22-016 91.0 147.6 56.6 0.85 122

incl. 91.0 120.0 29.0 0.91 127

incl. 134.5 147.6 13.1 1.53 137

195.5 210.0 14.5 0.92 118

CV22-017 165.7 235.8 70.1 2.22 147

incl. 165.7 185.0 19.4 1.57 148

incl. 190.4 231.0 40.7 3.01 160

Ice CV22-018 55.0 80.8 25.8 1.01 100 149.9 158 -45 17-May-2022

CV22-019 110.2 206.0 95.8 0.80 118

incl. 110.2 144.0 33.8 1.17 111

incl. 192.0 204.0 12.0 1.23 103

Ice CV22-020 38.8 47.0 8.3 1.30 143 203.8 338 -45 13-Jun-2022

Ice CV22-021 58.9 60.5 1.6 0.81 241 184.0 158 -45 13-Jun-2022

CV22-022 34.0 37.0 3.0 1.76 115

incl. 51.0 53.8 2.8 1.08 133

Ice CV22-023 119.8 120.6 0.8 0.76 77 285.0 338 -45 13-Jun-2022

Ice CV22-024 45.5 65.8 20.2 1.19 120 156.0 158 -45 13-Jun-2022

CV22-025 24.0 85.3 61.3 1.17 156

incl. 61.9 72.0 10.2 2.76 341

CV22-026 72.8 145.0 72.3 0.70 153

incl. 73.8 103.0 29.3 1.14 156

incl. 118.0 126.0 8.0 1.42 240

CV22-027 40.3 106.0 65.7 0.95 134

incl. 63.9 90.5 26.6 1.39 125

CV22-028 133.0 217.0 84.0 1.45 177

incl. 173.0 217.0 44.0 2.17 187

or 201.0 210.0 9.0 3.62 200

CV22-029 64.4 127.1 62.8 0.61 117

incl. 64.4 95.9 31.6 0.95 158

or 90.5 95.9 5.4 2.90 356

CV22-030 86.4 239.2 152.8 1.22 138

164.0 230.0 66.0 1.51 100

CV22-031 109.0 142.5 33.5 1.25 185

incl. 114.0 119.0 5.0 2.90 384

Land CV22-032 120.6 158 -45 -

CV22-033 20.8 23.9 3.1 0.86 178

133.7 152.0 18.3 1.08 119

incl. 133.7 144.5 10.8 1.51 165

CV22-034 174.5 187.3 12.8 0.66 97

237.3 255.0 17.7 0.82 56

273.2 277.3 4.0 1.03 90

(1) All drill holes are NQ core size; (2) All intervals are core length. True width of intervals is not confirmed. Geological modelling is ongoing.

329.8 158 -55 23-Jun-2022

Land

Ice

CV5-1

Corridor

Land

13-Jun-2022

231.0 158 -45

Hole lost prior to reaching target due to drilling

conditions

13-Jun-2022

261.1 158 -45

13-Jun-2022

13-Jun-2022150.1 158 -45

153.0 158 -45

156.0 N/A -90

158 -45

-45

246.0 158 -45

17-May-2022

25-May-2022

17-May-2022

Ice

252.1 158

Ice

344.7 158

230.9 158 -45

Ice

176.9

291.0 158 -45 23-Jun-2022

165.0 158 -45 23-Jun-2022

258.0 158 -45 23-Jun-2022

Ice

Figure 2: Core sample assay highlights for drill holes CV22-015, 016, 018, 019, 022, 024, 30, and 34

Figure 3: Core sample assay highlights for drill holes CV22-017, 020, 021, 023, 025, 026, 027, 028, 029, 031, and

033

Figure 4: Cross-section of modelled lithium pegmatite

Figure 5: Spodumene mineralized core from drill hole CV22-030

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