PMET.TO · 2023-02-05 12:00:00

Patriot Extends Strike Length of CV5 Pegmatite by 400 m in First Series of Holes from its 2023 Drill Campaign, Corvette Property, Quebec, Canada

Drill Results

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

Patriot Extends Strike Length of CV5 Pegmatite by 400 m in First Series of Holes from its

2023 Drill Campaign, Corvette Property, Quebec, Canada

February 5, 2023 – Vancouver, BC, Canada February 6, 2023 – Sydney, Australia

Highlights

• Extension of the CV5 Pegmatite eastwardly by at least 400 m through the first four (4) drill holes of the 2023

drill campaign (CV23-105, 106, 107, and 108)

o Geological logged, near-continuous1, spodumene-bearing pegmatite intersections from the main

body (moving eastwardly from CV22-093) ranging from of approximately 54 m to 132 m in width

(core length).

o Drill holes immediately on strike of high-grade Nova Zone.

• Step-out drilling westwardly, along strike of CV22-074, to begin shortly.

• Spodumene pegmatite has been traced continuously by drilling (at ~ 50-100 m spacing) over a lateral

distance of at least 2.6 km (CV22-074 to CV23-108), remaining open along strike at both ends and to depth

along most of its length.

• Core samples from first three (3) drill holes have arrived at the analytical lab (SGS).

• Four (4) core drilling rigs currently active at site with a fifth to be collared shortly.

• As of January 30th, 2023, a total of eight (8) drill holes (~3,400 m) have been completed this year at the CV5

Pegmatite.

o A minimum of 20,000 m is targeted to be completed over the January through April period.

Blair Way, Company President, CEO and Director, comments: “We are off to a great start with drilling at

the CV5 Pegmatite in 2023. We are collaring at wide step-outs of 100 m on this first series of holes to the

east and have now extended the principal spodumene pegmatite body at least another 400 m (drill hole

CV22-093 to CV23-108), based on geological logging of drill core. With four (4) drill rigs now active on

site, and earlier than anticipated, we will continue to advance aggressively as we look ahead to an initial

mineral resource estimate targeted for the first half of 2023.”

Patriot Battery Metals Inc. (the “Company” or “Patriot”) ( TSX-V: PMET) (ASX: PMT) ( OTCQX: PMETF)

(FSE: R9GA) is pleased to provide an update on the 2023 drill campaign currently underway at its wholly owned

Corvette Property (the “Property”), located in the James Bay Region of Quebec. The winter phase of the drill campaign

is focused on the CV5 Pegmatite, located approximately 13.5 km south of the regional and all -weather Trans-Taiga

Road and powerline infrastructure and is currently accessible by winter road.

The Company is pleased to report that the first eight (8) drill holes, as reported herein (CV23-105 through 112) have

intersected various widths of spodumene pegmatite , ranging from approximately 8 m to 132 m (core length), and

therefore have extended the strike length of the CV5 Pegmatite body a n additional 400 m along strike eastwardly

(Figures 1 and 2). Based on drill holes completed through January 30th, 2023, the CV5 Pegmatite has now been traced

continuously by drilling (at 50-100 m spacing) over a lateral distance of at least 2.6 km (CV22-074 to CV23-108),

remaining open along strike at both ends and to depth along most of its length.

Drill holes CV23 -105 and 106 were collared immediately on str ike eastwardly of the high- grade Nova Zone

intersected in drill hole CV22-093 (52.2 m at 3.34% Li2O, including 15.0 m of 5.10% Li 2O – see news release dated

January 30th, 2023), at a distance of approximately 90 m and 200 m, respectively, and returned near -continuous1

pegmatite intersections of approximately 84 and 132 m (core length), respectively. The two holes were collared at the

same orientation as CV23-093 and indicate the pegmatite has widened at this location and depth along strike. The

pegmatite continued to be intersected in drill holes CV23- 107 and 108, a further 100 m and 200 m along strike,

respectively, with widths of approximately 65 m and 54 m (core length), respectively. The pegmatite remains to be

tested further at depth along this 400 m of new strike length. Core assays have not yet been received for any of the

holes completed to date in 2023.

The Company intends to continue stepping out along strike eastwardly towards the CV4 Pegmatite cluster, which is

now within approximately 2.0 km of the easternmost drill hole reported herein from CV5 (CV23-108) (Figure 2).

Additionally, spodumene pegmatite is inferred to be present under cover along this corridor based on a boulder field

located approximately 1 km down ice (Figure 2) . Based on the angularity and size of the boulders, they are not

interpreted to have been sourced from the CV4 Pegmatite cluster and therefore, may indi cate a source under the

shallow glacial lake, along strike of the current drilling at CV5.

In addition to the step-out drilling of the Nova Zone and primary pegmatite body eastwardly, the Company also intends

to continue step- out drilling westwardly from drill hole CV22 -074 (16.9 m at 2.00% Li 2O – see news release dated

January 18th, 2023). The mineralized pegmatite is interpreted to continue for at least another 125 m in this direction

based on a mineralized outcrop present along strike (Figure 1). It is interpreted that the CV5 Pegmatite may extend

under the relatively thin glacial till cover towards the CV13 Pegmatite cluster, situated approximately 4.3 km to the

west-southwest, and is anticipated to be drill tested during the 2023 drill campaign.

The primary objectives of the 2023 drill campaign are to further delineate the extent of the CV5 Pegmatite, as well as

infill drill to improve the geological model to achieve indicated mineral resource confidence to support a future

prefeasibility study. As of January 30th, 2023, a total of eight (8) drill holes (~3,400 m) have been completed this year

at the CV5 Pegmatite, with a minimum of 20,000 m targeted to be completed over the January through April period.

Core samples from first three (3) drill holes (CV23-105, 106, 107) have arrived at the analytical lab (SGS) with core

processing ongoing at site (Figure 3). Four (4) NQ size core drilling rigs are currently active at site with a fifth expected

to collar shortly.

1. May include minor intervals of non-pegmatite and/or non-spodumene bearing pegmatite.

2. Data for drill holes presented herein are based on a combination of preliminary and detailed geological logs and, therefore,

overall is considered to be preliminary in nature as there may be minor variations from the final detailed geological log when

completed.

Table 1: Drill hole attributes with logged pegmatite intersections >2 m

Hole ID From

(m)

Interval

(m)

Li2O

(%)

Ta2O5

(ppm)

Total

Depth

(m)

Azimuth

(°)

Dip

(°) Easting Northing Elevation

(m)

CV23-105 96.7 100.7 4.0 452 158 -65 571828 5931397 377

104.0 114.7 10.7

222.7 306.4 83.7

310.2 321.7 11.5

338.0 357.2 19.2

366.4 386.7 20.3

CV23-106 155.2 161.0 5.8 491 158 -65 571931 5931438 379

274.1 406.3 132.2(5)

CV23-107 195.0 198.4 3.4 428 158 -65 572025 5931470 378

293.2 358.6 65.4

378.0 380.5 2.6

CV23-108 294.7 348.6 54.0 461 158 -65 572118 5931507 376

CV23-109 91.9 94.5 2.6 392 158 -45 571828 5931397 377

164.5 224.6 60.1

CV23-110 125.4 130.9 5.5 431 158 -45 571870 5931439 377

184.4 269.4 85.0

390.1 392.4 2.4

CV23-111 156.1 159.1 3.1 356 158 -45 572025 5931470 378

227.7 235.7 8.0

253.4 262.0 8.6

CV23-112 126.0 131.2 5.2 377 158 -45 571932 5931432 379

205.8 239.6 33.8

Assays pending

(1) All drill holes are NQ core size; (2) All intervals are core length and presented for all pegmatite intervals >2 m. 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 pegmatite; (5) Includes minor intervals of non-pegmatite units; (6) Data for drill holes presented herein are

based on a combination of preliminary and detailed geological logs and, therefore, overall is considered to be preliminary in nature as

there may be minor variations from the final detailed geological log when completed.

Assays pending

Figure 1: Drill hole locations through CV23-112 at the CV5 Pegmatite

Figure 2: CV5 through CV4 pegmatite cluster coordior

Figure 3: Aerial view of several 2023 drill hole collars ( Top); spodumene pegmatite core from 2023 drill campaign

being processed at Project (Bottom)

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 2.6 km long spodumene

pegmatite (the ‘CV5 Pegmatite’) and multiple proximal secondary spodumene pegmatite lenses. This corridor has

returned drill intercepts of 156.9 m at 2.12% Li 2O, including 25.0 m at 5.04% Li 2O or 5.0 m at 6.36% Li 2O

(CV22-083), 159.7 m at 1.65% Li2O (CV22-042), 131.2 m at 1.96% Li 2O (CV22-100), and 52.2 m at 3.34% Li 2O,

including 15.0 m at 5.10% Li2O (CV22-093).

To date, six (6) distinct clusters of lithium pegmatite have been discovered across the Property – CV5 Pegmatite and

associated lenses , CV4, CV8 -12, CV9, CV10, and the recently discovered 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’ sub surface. 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 Nevada Lithium Resources Inc., Vice

President of Exploration and Director for Ophir Gold Corp, 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 un der

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 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 2.6 km long CV5 spodumene pegmatite wi th drill intercepts of 156.9 m at 2.12% Li 2O,

including 25.0 m at 5.04% Li 2O or 5.0 m at 6.36% Li 2O (CV22-083), 159.7 m at 1.65% Li 2O (CV22-042), 131.2 m

at 1.96% Li2O (CV22-100), and 52.2 m at 3.34% Li 2O, including 15.0 m at 5.10% Li 2O (CV22-093). Additionally,

the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 7 m at 10.5 g/t

Au 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 12 m at 4.11 g/t Au and

33.0 g/t Ag, 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.

For further information, please contact us at [email protected] Tel: +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, 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, 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.

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