Patriot Battery Metals Inc. announced the discovery of a new high-grade zone at the CV13 Spodumene Pegmatite following its recently completed winter drill program at Corvette. The Corvette Property, wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec. The CV13 Spodumene Pegmatite is located approximately 3 km west-southwest of the CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42% Li2O inferred1 and is situated approximately 13.5 km south of the regional and all weather Trans-Taiga Road and powerline infrastructure.

The focus of the recently completed 2024 winter drilling at the CV13 Spodumene Pegmatite (11,557 m over 45 holes) was step-out holes in support of a maiden MRE, scheduled for third quarter, 2024. These holes predominantly targeted the downdip extension of the principal pegmatite body over the eastern and western arms, as well as further delineation of the eastern arm where the pegmatite has demonstrated a relatively stronger tendency for stacking and thickening. Results for one (1) drill hole, completed during the 2024 winter drill program at the CV13 Spodumene Pegmatite, are reported herein - 34.4 m at 2.90% Li2O, including 21.9 m at 3.58% Li2O (CV24-470) - and is located in the northeastern area of CV13.

The interval demonstrates very high grades over individual samples with 15 samples assaying >3% Li2O, 8 samples >4% Li2O, and 5 sample >5% Li2O, to a peak sample assay of 6.33% Li2O over 0.9 m. Mineralization typically occurs as centimetre to decimetre scale (up to ~1 m), light grey spodumene crystals in a dominantly smoky quartz-felspar pegmatite, with minor tourmaline and mica. The discovery, which is open in multiple directions, was made in follow-up to the wide and moderately mineralized intercept in drill hole CV23-365 (19.7 m at 0.43% Li2O, including 6.3 m at 1.22% Li2O). The pegmatite body is observed to thicken near-surface in this area and, with results of hole CV24-470 now received, has been confirmed to be accompanied by significant grade.

The intercept in CV23-470 starts at approximately 125 m vertical depth from surface, with geological modelling indicating a relatively flat to near-horizontal orientation of the pegmatite body at this location. Although the discovery was made at the tail end of the winter program, multiple follow-up holes were able to be completed prior to a pause in activities over spring- breakup. Each of these follow-up holes intersected pegmatite rock types ranging from 23 to 47 m (core length), confirming significant thickening of the pegmatite in this area; however, assays remain pending for each hole.

Note, the Company makes no assertion as to the presence of lithium- bearing minerals within rock types intercepted in drill hole where core assays have yet to be announced. The drilling results to date in this area, coupled with further interpretation of the Property's magnetic dataset, indicates a potentially wider prospective lithium pegmatite corridor at CV13 compared to prior interpretations. A follow-up drill program focused on further delineation of the new high-grade zone at CV13 will be developed following receipt of the final assay results from the 2024 winter program.

This follow-up drilling is anticipated to target extensions of the CV13 principal pegmatite body and this new high-grade zone to the west, north, and east within this corridor. To date, the CV13 Spodumene Pegmatite, through outcrop and drill hole data, is confirmed to extend over a strike length of at least 2.3 km and remains open at both ends and to depth. The 2024 winter drill program at Corvette totaled 62,518 m (166 holes), including 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13, of which 46,651 m (131 holes) remain to be reported - 35,375 m (87 holes) at CV5, and 11,276 (44 holes) at CV13.

An updated MRE for the Corvette Project, incorporating drilling through April 2024, is scheduled for Third Quarter 2024. This MRE update will include both the CV5 and CV13 spodumene pegmatites and a total anticipated metreage of 134,129 m (369 holes) and 29,121 m (133 holes), respectively. Core sample assays for drill hole CV24-470, as reported herein, from the CV13 Spodumene Pegmatite are presented in Table 1 for all pegmatite intersections >2 m.