Patriot’s Corvette Project Approvals Process Commences with Submission of the Preliminary Information Statement
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
LEGAL\63309512\1
Patriot’s Corvette Project Approvals Process Commences with
Submission of the Preliminary Information Statement
November 30, 2023 – Vancouver, BC, Canada November 29, 2023 – Sydney, Australia
Highlights
• Patriot has submitted the Preliminary Information Statement for the Corvette Project with
the Provincial Quebec Government, starting the approvals process for the Project.
• In parallel the Federal Government’s ‘Project Description’ has been prepared and is ready
for submission following clarification on next steps for the federal process (as defined by the
Impact Assessment Act), before formerly submitting the document.
Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (ASX: PMT) (OTCQX:
PMETF) (FSE: R9GA) is pleased to announce that it has filed the Preliminary Information Statement
with Québec Government (Ministère de l’Environnement, de la Lutte contre les changements climatiques,
de la Faune et des Parcs or “MELCCFP”) for its wholly owned Corvette Project (the “Project” or the
“Property”). The Preliminary Information Statement report represents over two years’ worth of
concentrated effort delineating the resource and exploration potential combined with and preliminary
environmental study work that will contribute to the proposed projects development. The document is
available at www.patriotbatterymetals.com.
Alix Drapack, Company Vice President of ESG, comments: “Submission of the Preliminary Information
Statement to the MELCCFP represents the first step in the Environmental and Social Impact Assessment
or “ESIA” process. The MELCCFP will forward the file to the Evaluating Committee or “COMEV” a
committee composed of members appointed by the Cree Nation Government, the Government of Québec,
and the Canadian Government . The COMEV will analy ze the documentation presented and will issue
guidelines outlining the scope and nature of the impact study that must be undertaken for the Project.
MELCCFP will revise the guidelines and send them back to Patriot. The next stage for the Company will
be to carry out an impact study that complies with the guidelines issued. In preparation of the ESIA ,
Patriot has already commenced collection of environmental baseline data in the vicinity of the Project
and intends to collect additional data next year . We are continuing to engage with local communities to
seek their input about our activities and plans.”
Blair Way, Company Director, President and CEO, comments: “The team has been diligent, motivated
and working hard for all stakeholders to progress the Corvette Property in a timely manner. To progress
to this point after just over two years worth of work is both a credit to them and the significance of the
discovery. Corvette is an outstanding project which hosts numerous spodumene -bearing pegmatites,
including CV5, one of the pegmatite clusters that was the subject of an initial inferred mineral resource
estimate previously announced.
“Patriot is currently evaluating the Corvette Project as a spodumene lithium open pit mining operation.
In targeting future Corvette Mine production, we also aim to create sustainable value and benefits for
host communities, shareholders and employees. We look forward to consulting with all stakeholders as
the design of the Project evolves”, Mr Way added.
Patriot has also prepared a Project Description that is ready to be filed with the Canadian Government
(Impact Assessment Agency) but due to the recent decision by the Supreme Court of Canada regarding
the Impact Assessment Act, the Company awaits clarification on next steps for the federal process before
formerly submitting the document. It is not expected that this parallel process to Provincial approvals will
affect the progress nor timeline of overall mine approvals.
The Corvette Project is highlighted by t he CV5 Spodumene Pegmatite which hosts a maiden mineral
resource estimate of 109.2 Mt at 1.42% Li2O inferred1 and ranks as the largest lithium pegmatite resource
in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest
lithium pegmatite resources in the world. T he CV5 Spodumene Pegmatite is located approximately 13.5
km south of the regional and all -weather Trans -Taiga Road and powerline infrastructure, and
approximately 50 km from the La-Grande 4 hydroelectric power station in the Eeyou Istchee James Bay
region of Quebec (Figure 1).
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2O and 160 ppm Ta2O5 inferred) is reported
at a cut -off grade of 0.40% Li 2O with effective date of June 25, 2023 (through drill hole CV23- 190).
Mineral resources are not mineral reserves as they do not have demonstrated economic viability.
Figure 1: Corvette Project, CV5 Spodumene Pegmatite, and regional infrastructure
About the CV Lithium Trend
The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017
and is interpreted to span more than 50 kilometres across the Corvette Property. The core area includes
the approximate 4.35 km long CV5 Spodumene Pegmatite, which hosts a maiden mineral resource
estimate of 109.2 Mt at 1.42% Li2O inferred1.
To date, seven (7) distinct clusters of lithium pegmatite have been discovered across the Corvette Property
– CV4, CV5, CV8, CV9, CV10, CV12, and 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” subsurface. 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 - 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 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 Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada,
and proximal to regional road and powerline infrastructure. The Corvette Property hosts the CV5
Spodumene Pegmatite with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred1 and
ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate
equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. Additionally,
the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as
well as more than 20 km of prospective trend that remain to be assessed.
1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2O and 160 ppm Ta2O5 inferred) is reported
at a cut -off grade of 0.40% Li 2O with effective date of June 25, 2023 (through drill hole CV23-190) .
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.
“BLAIR WAY”
Blair Way, President, CEO, & Director
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 about management’s current expectations and plans that allows 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 included in this news release, regarding the Company’s
strategy, future operations, financial position, prospects, plans and objectives of management are forward-looking
statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such
as “plan”, “expect”, “estimate”, “intend”, “anticipate”, “believe”, or variations of such words and phrases or
statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or
be achieved. In particular and without limitation, this news release contains forward-looking statements pertaining
to the Company’s “ESIA” process and its aims with respect to bringing the Corvette Project into production,
including with respect to creating sustainable value and benefits for host communities, shareholders and employees.
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 achievements 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 the total funding requi red to complete the development of the Company’s
Corvette 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 material 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 Corvette Project, including the timing thereof. In addition, readers are
directed to carefully review the detailed risk discussion in the Company’s most rec ent 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 for ward-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 5.22)
The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule
5.8 on July 31, 2023. The Company confirms it is not aware of any new information or data that materially affects
the information included in the previous announcements and that all material assumptions and technical
parameters underpinning the estimates in the previous announcements continue to apply and have not materially
changed.