Patriot Announces Best Drill Intercept to Date – 1.65% Li2O over 159.7 m, including 4.12% Li2O over 9.0 m – at the Corvette Property, Quebec
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com TSX-V: PMET / OTC: PMETF / FSE: R9GA
Patriot Announces Best Drill Intercept to Date – 1.65% Li2O over
159.7 m, including 4.12% Li2O over 9.0 m – at the Corvette
Property, Quebec
August 31, 2022 – Vancouver, BC, Canada
Highlights
Significant Intercepts:
• Best lithium intercept returned to date in drilling at Corvette, located at the east-end of the current drill
area
o 1.65% Li2O and 193 ppm Ta2O5 over 159.7 m (from 131.8 m downhole) , including 4.12% Li2O
and 162 ppm Ta2O5 over 9.0 m (CV22-042)
o 2.13% Li2O and 163 ppm Ta2O5 over 86.2 m (from 244.4 m downhole) , including 3.07% Li2O
and 265 ppm Ta2O5 over 18.0 m (CV22-044)
• Continued strong lithium grades over wide intervals returned over western portion of drill area ,
between the CV5 and CV6 spodumene pegmatite outcrops
o 1.42% Li2O and 106 ppm Ta2O5 over 59.3 m (from 214.0 m downhole), including 2.06% Li2O and
141 ppm Ta2O5 over 7.2 m (CV22-038)
o 1.68% Li2O and 91 ppm Ta2O5 over 22.7 m (from 319.4 m downhole), including 3.13% Li2O and
75 ppm Ta2O5 over 7.0 m (CV22-043)
Drill Program Update:
• Drill hole s CV22-063 and 066, with 39.9 m and 113.4 m core length intercept s of spodumene -bearing
pegmatite, respectively, have extended the strike length of the principal lithium pegmatite to at least
2,000 m, as tested by drilling, spanning laterally from drill hole CF21-004 through CV22-063/066
• As of August 24 th, 2022, a total of 15,497 m over fifty-three (53) holes have now been completed over the
2022 drill campaign – 4,345 m over 20 holes in the winter program, and 11,152 m over thirty-three (33) holes
in the summer program.
o Nineteen (19) drill holes currently en route to or in process at the analytical lab
Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA)
is pleased to announce core assay results for an additional six (6) drill holes (CV22-037, 038, 039, 042, 043, and 044)
completed as part of the summer phase of the 2022 drill campa ign at its wholly owned Corvette Property (the
“Property”), located in the James Bay Region of Quebec. The target drill area – at the CV Lithium Trend – is located
approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.
The Company is pleased to announce some of the strongest lithium mineralized intervals of the drill campaign to
date at Corvette, including the strongest based on a lithium grade-times-width metric – CV22-042. This drill hole
returned a continuous pegmatite interval (core length) of 159.7 m grading 1.65% Li2O, including 9.0 m of 4 .12%
Li2O, and was completed as follow-up along strike eastwardly of the 2.22% Li 2O over 70.1 m intercept in drill hole
CV22-017 (see news release dated May 24, 2022) (Figures 1 and 2). Additionally, drill hole CV22-044 was completed
as a step-back to CV22-017 to test the high-grade zone at depth and returned 86.2 m grading 2.13% Li2O, including
18.0 m of 3.07% Li2O (Figure 3). Collectively, both drill holes ( CV22-042 and 044) have extended the high-grade
lithium zone – first intersected in CV22-017 – along strike and to depth, respectively.
Ken Brinsden, Non-Executive Chairman and Director, comments: “The scope of lithium mineralization at Corvette is
incredible, with further strong intercepts from the summer program continuing to demonstrate the scale and grade of
the mineralized envelope. Remaining open to the east, west , and to depth, in addition to the numerous other lithium
pegmatite targets on the Property, the Corvette Project remains highly prospective beyond what we have found to
date. Corvette is one of the world’s great lithium raw materials discoveries with full credit to the team as we continue
to realize its potential.”
Drill holes CV22-042 and 044 highlight the high- grade nature of the lithium pegmatite located at the eastern end of
the drill area, proximal to the CV1 Pegmatite outcrop. Over the 159.7 m (1.65% Li2O) pegmatite intercept in drill hole
CV22-042, a total of twenty -eight (28) samples, with intervals ranging from 1.0 m to 1.15 m, assayed greater than
3.0% Li2O, seven (7) over 4.0% Li 2O, and four (4) over 5.0% Li 2O, to a peak of 6.74% Li 2O over 1.15 m . With
respect to drill hole CV22-044, over its 86.2 m (2.13% Li2O) pegmatite intercept, a total of twenty-seven (27) samples
assayed greater than 3.0% Li2O, eight (8) over 4.0% Li2O, to a peak of 5.83% Li2O, over individual sample intervals
of 0.9 m to 1.23 m.
Additionally, drill hole s CV22-063 and 066, targeting the principal pegmatite approximately 1 00 m along strike of
the high -grade intersection in CV22 -042, have returned spodumene -bearing pegmatite intercept s (core length) of
39.9 m and 113.4 m, respectively, and are currently being processed at site. Th ese drill holes (CV22-063 and 066 )
have extended the strike length of the principal spodumene-bearing pegmatite body to at least 2,000 m, as tested
by drilling, spanning laterally from drill hole CF21-004 through CV22-063/066 (Figure 1). The principal spodumene-
bearing pegmatite body remains open at both ends along strike, and at depth.
Drill holes CV22-038 and 043 were completed as step-outs westwardly from the CV5 Pegmatite outcrop towards the
CV6 Pegmatite outcrop (Figure 1). Both drill holes returned strong lithium mineralization over a wide and continuous
pegmatite interval, assaying 1.42% Li 2O over 59.3 m, including 2.06% Li 2O over 7.2 m (CV22-038), and
1.68% Li2O over 22.7 m, including 3.13% Li2O over 7.0 m (CV22-043). A total of four (4) samples assayed greater
than 4% Li2O in drill hole CV22-043, to a peak of 5.49% Li2O over 1.0 m. Lithium mineralization is characterized by
large spodumene crystals hosted within a typical quartz-feldspar pegmatite with accessory muscovite and is typical of
the primary mineralization style observed in drill core from the central and eastern portions of the overall pegmatite
body(s) (Figures 4 and 5).
Drill holes CV22-038 and 043 are the westernmost drill holes completed to date from 2022 in which core assays have
been received and are situated approximately 1.7 km along strike of the eastern most drill holes with assays received
to date, highlighted by CV22-042 (1.65% Li2O over 159.7 m). The strong lithium grades encountered in CV22-038
(1.42% Li2O over 59.3 m) and 043 (1.68% Li2O over 22.7 m), coupled with similar mineralogy and textures in
distal drill holes located along strike (e.g., CV22-017, 028, 030, 042, and 043), confirm that the high-grade nature
of the lithium mineralization is present at significant lateral distance along the principal pegmatite body and
collectively emphasize the considerable size of the system.
As of August 24th, 2022, a total of 15,497 m (53 holes) have been completed over the 2022 drill campaign, including
11,152 m (33 holes) as part of the summer program – drill holes CV22-035 through 067. Core assay results are
announced herein for drill holes CV22-037, 038, 039, 042, 043, and 044. A summary of the summer program’s lithium
(and tantalum) intercepts for which core analysis has been reported, including the six (6) drill holes reported herein,
is presented in Table 1 and drill hole locations in Figure 1. Select core photos are presented in Figures 2, 3, 4, and 5.
A summary of the 2021 and 2022 winter drill results may be found on the Company’s website.
Table 1: Mineralized drill intercept summary for drill holes completed as part of the 2022 summer program
Drill holes CV22 -037 and 039 were completed at a tighter spacing – 50 m compared to the t ypical 100 m – at the
eastern portion of the current drill area , targeting pegmatite at shallow depths . The objectives of the se two (2) drill
holes were to further the understanding of the CV1 Pegmatite outcrop and local geology near -surface at this location
and to ascertain its relationship with the principal pegmatite body at depth. The drill holes returned relatively wide
pegmatite intercepts with variable levels of mineralization ; 0.41% Li2O and 129 ppm Ta 2O5 over 52.0 m, including
1.49% Li2O and 169 ppm Ta2O5 over 5.2 m (CV22-037), and 0.56% Li2O and 158 ppm Ta2O5 over 40.5 m, including
1.55% Li2O and 179 ppm Ta2O5 over 10.8 m (CV22-039). Lithium pegmatites are commonly zoned, and although
less mineralized than adjacent holes where assays have been received, both drill holes demonstrat e high-grade
potential with 3.95% Li2O over 0.5 m (CV22-037) and 3.34% Li2O over 1 m (CV22-039). Both CV22-037 and 039
overlie the high-grade lithium zone intersected in drill holes CV22- 017 and 044, which is interpreted to extend east -
west and begin at moderate depth (~100 m vertical depth).
Target Land /
Water Hole ID From
(m)
To
(m)
Interval
(m)
Li2O
(%)
Ta2O5
(ppm)
Total Depth
(m)
Azimuth
(°)
Dip
(°)
Date
Reported
CV22-035 0.8 3.3 2.5(4) 0.62 155
126.1 223.0 96.9 1.25 118
incl. 185.5 212.5 27.0 2.53 130
or 202.5 212.5 10.0 3.29 177
CV22-036 176.5 183.8 7.3 2.00 167
193.1 211.3 18.2 0.17 105
232.7 238.1 5.4 1.35 63
260.6 287.6 27.0 1.38 99
CV22-037 35.6 46.1 10.6 0.63 177
incl. 40.0 44.2 4.2 1.21 232
145.2 197.2 52.0 0.41 129
incl. 149.8 155.0 5.2 1.49 169
214.0 273.3 59.3 1.42 106
234.8 242.0 7.2 2.06 141
CV22-039 30.4 39.2 8.8 0.97 134
138.0 178.5 40.5 0.56 158
incl. 141.0 151.8 10.8 1.55 244
Land CV22-040 403.8 158 -45 Pending
Land CV22-041 295.9 158 -45 Pending
CV22-042 54.8 59.8 5.1 0.67 340
131.8 291.5 159.7 1.65 193
incl. 238.5 275.5 37.0 3.04 209
or 249.5 258.5 9.0 4.12 162
CV22-043 201.5 206.3 4.8 0.40 216
258.6 262.2 3.7 1.57 62
319.4 342.2 22.7 1.68 91
incl. 327.5 334.5 7.0 3.13 75
CV22-044 136.0 142.7 6.7 1.89 91
244.4 330.7 86.2 2.13 163
incl. 308.5 326.5 18.0 3.07 265
(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.
(3) Azimuths and dips presented are those 'planned' and may vary off collar and downhole; (4) Collared in lithium pegmatite
(5) Core assays are pending for drill holes CV22-040, 041, and 045 through 067
28-Jul-2022
Land 334.8 158 -45
CV5-1
Corridor
Land 281.0 158 -45
Land 414.5 158 -45
31-Aug-2022
28-Jul-2022
Land 311.0 158 -45 31-Aug-2022
Land CV22-038 316.8 158 -45
31-Aug-2022
Land 256.9 158 -45 31-Aug-2022
Core assays pending
Core assays pending
Land 393.0 158 -65
31-Aug-2022
Land
513.6 158 -59 31-Aug-2022
Additionally, the drill data received from CV22- 037 and 039 provide a strong indication that the CV1 Pegmatite
outcrop represents the surface expression of separate pegmatite body trending sub -parallel and in close proximity to
the principal pegmatite body (Figure 1).
Strong grades of tantalum continue to be present in the drilled pegmatite at Corvette, and also continue to be more
prevalent over the eastern areas. In addition to the high- grade lithium in drill holes CV22 -042 and 044, grades of
tantalum include 193 ppm Ta2O5 (1.65% Li2O) over 159.7 m (CV22-042), and 163 ppm Ta2O5 (2.13% Li2O) over
86.2 m (CV22-044). Additionally, the grades of tantalum appear to increase along with the grades of lithium in these
two drill holes – 209 ppm Ta2O5 (3.04% Li2O) over 37.0 m (CV22-042), and 265 ppm Ta2O5 (3.07% Li2O) over
18.0 m (CV22-044). Additionally, drill hole CV22-042 returned 2,570 Ta2O5 (1.29% Li2O) over 1 m, which is the
highest grade of tantalum returned to date at the CV5- 1 pegmatite corridor. Tantalum continues to be a secondary
commodity of strong interest at Corvette and recovery into a marketable concentrate will continue to be explored as
flowsheet development advances.
The summer phase of the 2022 drill campaign began in early June with two diamond drill rigs operating along the
CV5-1 pegmatite corridor . A barge and third drill rig began operating at the site in August and is targeting the
mineralized pegmatite(s) from the overlying shallow lake. In early September, one of the drill rigs is planned to move
to the recently discovered CV13 pegmatite cluster , located approximately 4.3 km on strike to the southwest of the
current drill area, for initial drill testing of that local trend, which extends for more than two (2) km (see news release
dated August 10, 2022).
Figure 1: Drill hole collar locations for holes completed through August 24, 2022, as part of the 2021-2022 drill
campaigns – CF21-001 through 004, and CV22-015 through 067
Figure 2: High-grade lithium drill core from hole CV22-042
Figure 3: High-grade lithium drill core from hole CV22-044
Figure 4: Abundant spodumene mineralization in quartz-feldspar pegmatite in drill hole CV22-038
Figure 5: Spodumene mineralization @ 256.5 m in drill hole CV22-038
Quality Assurance / Quality Control (QAQC)
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, as well as
collection of quarter -core duplicates, at a rate of approximately 5%. Additionally, analysis of pulp- split and course-
split sample duplicates were completed to assess analytical precision at different stages of the laboratory preparation
process, 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 Lakefield, ON, for standard sample
preparation (code PRP89) which includes drying at 105°C, crush to 75% 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 (code GE_ICM91A50).
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 2 km long corridor hosting
numerous spodumene pegmatites, highlighted by the large CV1 and CV5 pegmatite outcrops, and has returned drill
intercepts of 1.65% Li2O and 193 ppm Ta2O5 over 159.7 m (CV22-042), 1.22% Li2O and 138 ppm Ta2O5 over 152.8 m
(CV22-030), 2.13% Li2O and 1 63 ppm Ta2O5 over 86.2 m (CV22-044), and 2.22% Li2O and 147 ppm Ta 2O5 over
70.1 m, including 3.01% Li2O and 160 ppm Ta 2O5 over 40.7 m (CV22-017). Drilling to date indicates a principal
spodumene-bearing pegmatite body of significant size and has been traced by drilling over a distance of at least 2.0 km,
and therefore, is considerably larger than that observed in outcrop. The high number of well -mineralized pegmatites
in this core area of 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 Person
Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the
Ordre des Géologues du Québec , and Qualified Person as defined by National Instrument 43 -101, has reviewed the
technical information in this news release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral
properties containing battery, base, and precious metals.
The Company’s flagship asset is the 100% owned Corvette Property, located proximal to the Trans-Taiga Road and
powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium
potential highlighted by the CV5-1 spodumene pegmatite corridor with drill intercepts of 1. 65% Li2O and 193 ppm
Ta2O5 over 159.7 m (CV22-042), and 2.22% Li 2O and 147 ppm Ta 2O5 over 70.1 m, including 3.01% Li2O and 160
ppm Ta2O5 over 40.7 m (CV22-017). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1
to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au,
and 171 g/t Ag in outcrop.
The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two
prospective gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag
over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75%
Cu.
The Company’s other assets include the Pontax Lithium -Gold Property, QC; and the Hidden Lake Lithium Property,
NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.