Patriot Battery Metals Drills 0.93% Li2O over 146.8 m, including 1.09% Li2O over 73.0 m, in First Drill Hole at the Corvette-FCI Property, James Bay, QC - Seite 2

The assay results from drill hole CF21-001 are consistent with surface sampling results completed in 2019 and confirm the lithium mineralization extends from surface to significant depth. In addition to the primary mineralized quartz-feldspar pegmatite intersection at CV5, a second interval of pegmatite at depth returned 1.39% Li₂O and 107 ppm Ta₂O₅ over 11.5 m, including 3.11% Li₂O and 125 ppm Ta₂O₅ over 4.1 m and a peak sample assay of 5.43% Li₂O (over 1.0 m). Further, drill holes CF21-002, 003, and 004 each intersected wide intervals of pegmatite containing varying amounts of spodumene mineralization (assays pending), ranging from 59.1 m to 126.5 m core length. Collectively, the grades returned to date at surface and from CF21-001, coupled with the wide widths of spodumene pegmatite observed in core over several drill holes along strike, emphasize the size of the mineralizing system and indicate the Company has tapped into a mineralized body of potentially considerable significance.

The lithium mineralization is also accompanied by moderate to strong tantalum mineralization and includes wide intervals over 100 ppm Ta₂O₅ (Table 1). Depending on the mineralizing system, tantalum may or may not be present in addition to lithium. However, where present it may be recoverable as a by-product using common ‘off the shelf’ mineral processing techniques such as magnetic separation.

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans the FCI West, FCI East, and Corvette claim blocks. The core area includes an approximate 2 km long corridor, which is part of the more than 25-km long CV lithium trend. It consists of numerous spodumene pegmatite occurrences, which include the CV1, CV2, CV3, CV5, CV6, and CV7 pegmatites, highlighted by the CV5 Pegmatite – a large (~220 m long and 20-40 m wide), well-mineralized outcrop with a drill intercept of 146.8 m at 0.93% Li₂O and 114 ppm Ta₂O₅ returned from the first drill hole to test the target. The high number of well-mineralized pegmatites in this core area of the trend indicates 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.