Patriot Files PEA Technical Report for the Shaakichiuwaanaan Project
Page | 1
September 12, 2024 – Vancouver, BC,
Canada
September 13, 2024 – Sydney, Australia
Patriot Files PEA Technical Report for the Shaakichiuwaanaan
Project
Patriot Battery Metals Inc. (“Patriot” or the “ Company”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA), is pleased to announce that it has filed a National Instrument
43-101 Preliminary Economic Assessment Technical Report for its Shaakichiuwaanaan Project.
The report titled “ NI 43- 101 Technical Report, Preliminary Economic Assessment for the
Shaakichiuwaanaan Project, James Bay Region, Québec, Canada” with an Issue Date of September 12,
2024, and Effective Date of August 21, 2024 (the "Technical Report"), was prepared in accordance
with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101”). Under
NI 43-101, issuers must file a technical report within 45 days of the date of initial disclosure of, among
other things, a new or materially changed mineral res ource estimate or results of a preliminary
economic assessment (“PEA”). The Technical Report is available for review on both SEDAR+
(www.sedarplus.ca) and the Company’s website (www.patriotbatterymetals.com).
The Technical Report supports the news release dated August 21, 2024, announcing the results of
the PEA, titled “PEA Highlights Shaakichiuwaanaan Project as a Potential North American Lithium
Raw Materials Supply Base”, as well as the news release dated August 5, 2024, announcing the results
of the Mineral Resource Estimate titled “Significant Mineral Resource Upgrade at Shaakichiuwaanaan
Lithium Project to Underpin Impending PEA”. These releases are available on the Company’s website
and under its profile at www.sedarplus.ca and www.asx.com.au. There are no material differences
between the Technical Report and the information disclosed in the news releases dated August 5,
2024, and August 21, 2024.
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 Québec, Canada, which is accessible year-round by all-season road
and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral Resource 1,
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. Additionally, the Shaakichiuwaanaan
Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well
as significant areas of prospective trend that remain to be assessed.
1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li 2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt at
1.31% Li2O and 147 ppm Ta 2O5 ppm Inferred) is reported at a cut -off grade of 0.40% Li 2O (open pit), 0.60% Li 2O (underground
CV5), and 0.80% Li2O (underground CV13) with an Effective Date August 21, 2024 (through drill hole CV24-526). Mineral Resources
are not Mineral Reserves as they do not have demonstrated economic viability.
Page | 2
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.sedarplus.ca and www.asx.com.au, for available
exploration data.
This news release has been approved by the Board of Directors.
“KEN BRINSDEN”
Kenneth Brinsden, President, CEO, & Managing Director
Brad Seward
Vice President, Investor Relations
T: +61 400 199 471
Olivier Caza-Lapointe
Head, Investor Relations – North America
T: +1 (514) 913-5264
QUALIFIED/COMPETENT PERSON
The technical information in this news release is based on, and fairly represents, information from
the Technical Report reviewed and approved 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 is 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
in the form and context in which it appears.
COMPETENT PERSON STATEMENT (ASX LISTING RULE 5.22)
The Mineral Resource Estimate in this release was reported by the Company in accordance with ASX
Listing Rule 5.8 on August 5, 2024. The Company confirms it is not aware of any new information or
data that materially affects the information included in the announcement and that all material
assumptions and technical parameters underpinning the estimates in the announcement continue to
apply and have not materially changed. The Company confirms that the form and context in which
the competent person’s findings are presented have not been materially modified from the original
market announcement.