Patriot Provides Progress Update on the Feasibility Study at the Shaakichiuwaanaan Property
Patriot Battery Metals Inc.
Suite 700 - 838 W. Hastings Street, Vancouver, BC, Canada, V6C 0A6
www.patriotbatterymetals.com TSX: PMET / ASX: PMT / OTC: PMETF / FSE: R9GA
Patriot Provides Progress Update on the Feasibility Study at
the Shaakichiuwaanaan Property
March 18, 2025 – Vancouver, BC, Canada
March 19, 2025 – Sydney, Australia
Highlights
• Feasibility Study progressing to plan with a target September 2025 completion
date.
• Updated Block model for the CV5 Pegmatite has been completed and handed over to
the FS team using the extensive resource development/infill drilling program from 2024
and inclusive of the high-grade Nova Zone (see news release dated February 27, 2025).
• FS will support the Company’s ESIA submission which is also expected to be finalized and
submitted in September 2025.
• FS is expected to closely resemble the scope proposed in the previously published PEA ,
inclusive of utilizing Dense Media Separation (“ DMS”) only processing and staged
production growth.
• Strong cash position post the V olkswagen/PowerCo strategic investment and offtake
agreement supports continued project progress through the FS and ongoing environmental
approvals.
Ken Brinsden, Patriot CEO and President, comments: “Building on the significant progress
achieved over the last 3 years at Shaakichiuwaanaan, the team is well advanced in 2025 with
multiple parallel workstreams underway around resource development, environmental studies and
documentation, and the Feasibility Study.”
“With the support of our key strategic shareholders VW, the C ompany has been unwavering in
progressing the project as quickly and efficiently as possible, ensuring the Project’s preeminent
position among North American lithium development proposals,” added Mr. Brinsden.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT)
(OTCQX: PMETF) (FSE: R9GA) is pleased to provide a progress update on the Feasibility
Study (“FS”) on the Company’s wholly owned Shaakichiuwaanaan Property (the “Property” or
“Project”), located in the Eeyou Istchee James Bay region of Quebec.
The Shaakichiuwaanaan Property hosts a consolidated Mineral Resource Estimate 1 (“MRE”) of
80.1 Mt at 1.44% Li 2O Indicated and 62.5 Mt at 1.31% Li 2O Inferred. The CV5 Spodumene
Pegmatite, which forms the bulk of the MRE , is accessible year-round by all -season road and is
1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li2O and 163 ppm Ta2O5 Indicated, and 62.5 Mt
at 1.31% Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade of 0.40% Li2O (open-pit), 0.60% Li2O (underground
CV5), an d 0.80% Li2O (underground CV13) with an Effective Date of August 21, 2024 (through drill hole CV24- 526). Mineral
Resources are not Mineral Reserves as they do not have demonstrated economic viability.
situated approximately 14 km from a major hydroelectric powerline corridor. The CV13 Pegmatite
is located <3 km along geological trend from the CV5 Pegmatite, which hosts additional lithium
and tantalum resources, as well as a recently discovered zone of cesium mineralisation (see news
release dated March 2, 2025).
The FS on the Shaakichiuwaanaan Project’s CV5 Pegmatite commenced in September 2024. G
Mining Services of Montreal, Quebec has been selected to be the Project Integrator of the NI 43-
101 Report with associated work on the FS to be completed by the following consultants:
• G Mining Services: ~70% of the total FS engineering work including mine design;
• Primero Americas: DMS Plant design;
• AtkinsRealis: Waste & Water Management design;
• Vision Geochemistry: Geochemistry program design & site-wide water modeling; and
• Paterson & Cooke: Pastefill Plant design.
• BBA Engineering: Geology
The FS was launched following a comprehensive Preliminary Economic Assessment (“PEA”) Study
completed by the Company in August 2024 (see news release dated August 21, 2024) . Prior to
commencing the FS, various work program s were undertaken which included significant field,
desktop, and lab work. Trade-off studies were also completed by the integrated team to align on
the best mine development pathway forward for the FS.
Following this work, it was determined that the FS will be progressed to closely resemble the
scope proposed within the previously published PEA , inclusive of staged production growth. The
FS continues with the DMS only process methodology, based on the excellent recovery
characteristics demonstrated through the previously reported metallurgical testwork of 2023 and
2024. DMS only processing simplifies construction, commissioning and ongoing operations, and
lowers cost when compared to the addition of flotation recovery techniques.
Work continues to determine the optimum schedule for underground mining, including access to
the high-grade Nova Zone.
The high-grade Nova Zone has been traced in multiple drill holes over a strike length of at least
1,100 metres, with geological modelling supporting a continuous spodumene mineralized zone of
variable thickness at grades well in excess of 2% Li 2O, occurring between vertical depths of
approximately 125 to 325 metres.
The updated and finalized block model for the CV5 Pegmatite, has now been completed by BBA
Engineering (the Qualified Person (‘QP’) for geology and the Mineral Resource model), and has
been handed over to G Mining (Project Integrator and QP for the upcoming Mineral Reserve).
Handover of the updated block model has now allowed work to commence on the final mine
design for the FS based on the Indicated Resources contained within. The open pit and
underground mine design teams are now fully engaged and completing the final mine design, along
with all the other supporting c onsultants on their FS deliverables. The FS team is expected to
remain on schedule to deliver the NI 43-101 Final Report in September 2025.
Figure 1: Shaakichiuwaanaan Exploration Camp
Figure 2: A portion of the a ll-season road (~20 km in length) built by the Company, extending
from the all-season Trans-Taiga Road to the CV5 Spodumene Pegmatite.
Qualified/Competent Person
The information in this news release that relates to exploration results for the Shaakichiuwaanaan
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 – 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 has reviewed and approved the technical information
in this news release.
Mr. Smith is an Executive and 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 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 Shaakichiuwaanaan Property (formerly known as Corvette) located in
the Eeyou Istchee James Bay region of Quebec, Canada, which is acce ssible year-round by all -
season road and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral
Resource1, 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 8th largest lithium pegmatite resource in the world.
A Preliminary Economic Assessment (“PEA”) was announced for the CV5 Pegmatite August 21,
2024, and highlights it as a potential North American lithium raw materials powerhouse. The PEA
outlines the potential for a competitive and globally significant high-grade lithium project targeting
up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation (“DMS ”) only
process flowsheet.
1 Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li 2O and 163 ppm Ta 2O5
Indicated, and 62.5 Mt at 1.31% Li2O and 147 ppm Ta2O5 ppm Inferred) is reported at a cut-off grade of 0.40%
Li2O (open-pit), 0.60% Li 2O (underground CV5), and 0.80% Li 2O (underground CV13) with an Effective Date of
August 21, 2024 (through drill hole CV24 -526). Mineral Resources are not Mineral Reserves as they do not have
demonstrated economic viability.
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
Olivier Caza-Lapointe
Head, Investor Relations
T: +1 (514) 913-5264
Disclaimer for Forward-looking Information
This news release contains “forward-looking information” or “forward-looking statements” within
the meaning of applicable securities laws and other statements that are not historical facts.
Forward-looking statements are included to provide information abo ut management’s current
expectations and plans that allow investors and others to have a better understanding of the
Company’s business plans and financial performance and condition.
All statements, other than statements of historical fact s included in this news release, regarding
the Company’s strategy, future operations, technical assessments, prospects, plans and objectives
of management are forward -looking statements that involve risks and uncertainties. Forward -
looking statements are ty pically identified by words such as “ progressing to plan ”, “ target”,
“expected”, “will”, “growth”, “ongoing”, “underway”, “remain on schedule” and similar words or
expressions. Forward-looking statements in this release include, but are not limited to, statements
on the timing for the completion of the Feasibility Study and of the NI 43-101 Report.
Forward-looking information is based upon certain assumptions and other important factors that,
if untrue, could cause the actual results, performance or achievements of the Company to be
materially different from future results, performance or achievement s expressed or implied by
such information or statements. There can be no assurance that such information or statements
will prove to be accurate. Key assumptions upon which the Company’s forward- looking
information is based include, without limitation, th at proposed exploration and mineral resource
estimate work on the Property will continue as expected, the accuracy of reserve and resource
estimates, the classification of resources between inferred and the assumptions on which the
reserve and resource est imates are based, long -term demand for spodumene supply, and that
exploration and development results continue to support management’s current plans for
Property development and expectations for the Project.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which
may have been used. Forward-looking statements are also subject to risks and uncertainties facing
the Company’s business, any of which could have a materia l adverse effect on the Company’s
business, financial condition, results of operations and growth prospects. Some of the risks the
Company faces and the uncertainties that could cause actual results to differ materially from those
expressed in the forward-looking statements include, among others, the ability to execute on plans
relating to the Company’s Project, including the timing thereof. In addition, readers are directed
to carefully review the detailed risk discussion in the Company’s most recent Annual Information
Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a
fuller understanding of the risks and uncertainties that affect the Company’s business and
operations.
Although the Company believes its expectations are based upon reasonable assumptions and has
attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward -looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such information. As such, these risks are
not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties
materialize, actual results may vary materially from those anticipated in the forward -looking
statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-
looking statements, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are presented for the purpose of assisting investors
in understanding the Company’s business plans, financial performance and condition and may not
be appropriate for other purposes.
The forward- looking statements contained herein are made only as of the date hereof. The
Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except to the extent required
by applicable law. The Company qualifies all of its forward-looking statements by these cautionary
statements.
Competent Person Statement (ASX Listing Rule)
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 that, as of the date of this
announcement, it is not aware of any new information or data verified by the competent person
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 Compa ny confirms that, as at the date of this
announcement, the form and context in which the competent person’s findings are presented have
not been materially modified from the original market announcement.
The production target referred to in this release was reported by the Company in accordance
with ASX Listing Rule 5.16 on August 21, 2024. The Company confirms that, as of the date of this
announcement, all material assumptions and technical parameters underpi nning the production
target in the original announcement continue to apply and have not materially changed.