Patriot Provides Update on the Summer Drill and Surface Programs at the Corvette Property, Quebec
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 Provides Update on the Summer Drill and Surface Programs
at the Corvette Property, Quebec
June 29, 2022 – Vancouver, BC, Canada
Highlights
• The summer/fall phase of the 2022 drill campaign is well underway with two (2) drill rigs currently
operating on site at the CV5 -1 pegmatite corridor, with nine (9) holes over approximately 3,110 metres
completed to date, and a third rig scheduled to arrive in July
• Spodumene pegmatite has been encountered – over varying widths – in each drill hole completed as
part of the summer/fall program
o The main pegmatite body has now been traced through drilling for an additional 300 m along
strike from the CV5 Pegmatite outcrop towards the CV6 Pegmatite outcrop – for a combined total
strike length of approximately 1.7 km – remaining open in all directions
• Core samples for the first five (5) drill holes have been shipped to the analytical lab, with results expected in
August
• Summary drill hole location, pegmatite intercept, and grade-width tables for the 2022 winter drill program
have been posted to the Company’s website
• Surface work has resulted in the discovery of s everal new spodumene -bearing pegmatite outcrops
situated southwest of the CV5 Pegmatite outcrop, as well as along strike of the CV3 Pegmatite outcrop
o The new discoveries sug gest another subparallel trending spodumene pegmatite may be situated
proximal to the south of the main pegmatite body currently being drill tested
• Management and Board completed a site visit mid-June, visiting the drill area (CV5 and CV1 pegmatites)
and regional pegmatite targets
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: PMETF ) (FSE: R9GA) is
pleased to provide this first update on the summer/fall phase of its 2022 drill campaign 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.
Blair Way, Company President, CEO and Director, comments: “the summer drill program is going exceptionally well,
and we could not be more pleased with the pegmatite intercepts we are seeing downhole. We won’t be providing tables
of the preliminary pegmatite intercepts moving forward, to avoid confusion, so we will focus on providing the lithium
assay results when they are received. The field crews are doing a great job and are having early and significant
success in identifying new spodumene -pegmatite occurrences, as well as extending existing occurrences, thereby
enabling us to prioritize the next steps in exploration.”
The summer phase of the 2022 drill campaign began in early June with two diamond drill rigs currently operating on
site. To date (since the end of the winter drill program) , nine (9) NQ size drill h oles (CV22-035 through 043) have
been completed for a total of approximately 3,111 m (Figure 1). Drill holes CV22-036, 038, 040, and 043 targeted the
interpreted pegmatite extension between the CV5 and CV6 pegmatite outcrops. The Company is pleased to report that
each of these holes has intersected spodumene-bearing pegmatite over varying intervals, thereby extending the main
spodumene-bearing pegmatite body another 300 m along strike to the southwest. Collectively, the main spodumene -
bearing pegmatite body has now been traced through drilling over a strike length of approximately 1.7 km and remains
open in all directions.
Drill holes CV22 -035, 037, 039, 041, and 04 2 targeted the eastern portion of the drill area, proximal to the CV1
Pegmatite outcrop and drill hole CV22 -017 (2.22% Li2O over 70.1 m – see news released dated May 24 th, 2022).
These drill holes were typically more tightly spaced (50 m) compared to the regular 100 m spacing as they were
designed to follow -up on the high- grade intercept in CV22-017 as well as better understand the local geology and
structure in this area. Specifically, the primary objective is to further constrain the interpretation of the CV1 pegmatite
outcrop and associated drill intercepts, which have been interpreted to be a splay off the main pegmatite body or as a
result of faulting . Each of these drill holes has intercepted spodumene -bearing pegmatite over varying intervals ;
however, additional drilling is required to refine the interpretation moving eastwardly and improve the geological
modelling in this area.
The next series of drill holes at Corvette will continue to test the extension of spodumene -bearing pegmatite further
southwest towards the CV6 Pegmatite outcrop and drill hole CF21- 004 (1.13% Li2O over 30.0 m – see news release
dated February 3rd, 2022), as well as test the main spodumene pegmatite body at depth along its approximate 1.7 km
strike length that has been delineated to date. A third drill and barge are set to arrive on site in July and will allow for
continued drill testing below the shallow glacial lake that is overl ying portions of the main spodumene -bearing
pegmatite body.
Surface Program
The surface exploration program commenced last week with detailed mapping over the CV5-1 pegmatite corridor. To
date, field crews have identified several new spodumene-bearing outcrops located approximately 150 m southwest of
the CV5 Pegmatite outcrop, and approximately 200 m along strike of the CV3 Pegmatite outcrop. The outcrops have
been mapped and samples collected for assay. The discovery highlights the continued blue -sky potential for new
spodumene-bearing pegmatite discoveries on the Property. Specifically, th e location of these newly discovered
pegmatite outcrops suggests another subparallel trending spodumene -bearing pegmatite may be situated south of the
main pegmatite body currently being drill tested. Additionally, the CV3 Pegmatite has not yet been drill tested and is
now mapped to be more extensive than previously understood.
The systematic surface geological mapping is continuing along the CV5-1 pegmatite corridor and will culminate into
a detailed geological map later this summer. The surface mapping will allow for more accurate geological modelling
of the drill area, as well as enable refinement to drill hole targeting. Following completion of the geological mapping
over the primary drill area, surface mapping over the other known lithium pegmatite outcrops areas – principally the
CV8, 9, 10, and 12 pegmatites – will be completed and assist with target ranking. Additionally, the Company intends
to carry out the first documented prospecting, geological mapping, and rock sampling over the more than 25 km of
prospective trend extending across the Property which has never been evaluated for lithium pegmatite.
Corvette Property Site Visit
In mid June, several members of the Company’s Management and Board of Directors came to. The site visit included
Blair Way (President, CEO, and Director ), Darren L. Smith (Vice President of Exploration ), Jon Christian Evensen
(Director), and several senior geologists and managers (including the geological modeller). The Company used the
opportunity to visit the active drill site for each rig (CV22-040 and 041) , both of which began coring spodumene -
bearing pegmatite within a day of arrival to site . The team also visited the large CV5 and CV1 pegmatite outcrops ,
which collectively give a sense of scope to the discovery. Additionally, CV4, CV8, CV9, CV10, and CV12 lithium
pegmatite outcrops were visited which highlighted the scale and potential remaining of the lithium trend yet to be drill
tested. With everyone together and in person, t he Board and Management also took the opportunity to complete a
deep dive into the geological model interpretation and refine the drill hole pattern over key areas of the corridor.
Jon Christian Evensen, Director, comments : “ I was very impressed by the enthusiasm, professionalism and the
commitment to best practice around exploration and safety from the team on site. I congratulate Darren on leading a
world class exploration program as it continues to grow in size and scale . I look forw ard to seeing what the drill
assays and regional surface work will show us about both the corridor between CV -1 and CV -6 and the several
regional outcrops previously known and those announced today as discovered. As the Company focuses on maximizing
value for all stakeholders, I am thrilled with the Company’s decision to publish the summary drill data on the Patriot
website for all our investors to access.”
Some photos of the site visit are presented below.
Figure 1: Drill hole collar locations for holes completed to date as part of the 2021-2022 drill campaign
Photo 1: Spodumene-bearing pegmatite being actively cored in CV22-041 during site visit to drill rig
Photo 2: The team reviewing hole CV22-017 at the core shack during site visit
Photo 3: Board and management at pegmatite outcrop CV10 (left to right - JC Evensen, Patrik Schmidt, Blair Way,
Darren Smith)
About the CV Lithium Trend
The CV Lithium Trend is an e merging 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 1.22% Li2O and 138 ppm Ta2O5 over 152.8 m (CV22-030), 1.45% Li2O and 177 ppm Ta2O5 over 84.0 m
(CV22-028), and 2.22% Li2O and 147 ppm Ta2O5 over 70.1 m, including 3.01% Li2O and 160 ppm Ta2O5 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 1.7 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 Géolo gues 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 Corvette Property, located proximal to the Tran s-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 1.22% Li2O and 138 ppm Ta2O5 over
152.8 m (CV22-030), and 2.22% Li 2O and 147 ppm Ta 2O5 over 70.1 m, including 3.01% Li2O and 160 ppm Ta 2O5
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.
For further information, please contact us at [email protected] Tel: +1 ( 778) 945-2950 , or visit
www.patriotbatterymetals.com.
On Behalf of 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 sim ilar 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 actua l 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 o n 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..