Patriot Drills 70.1 m of 2.22% Li2O including an interval 40.7 m of 3.01% Li2O in First Drill Hole to Test the CV1 Pegmatite at the East End of the Winter Drilling Corridor at the Corvette Property, Quebec - Seite 2

Drill hole CV22-017 was designed to test the CV1 Pegmatite outcrop’s mineralization at depth and is the first drill hole to test the target, located approximately 1.1 km northeast of and on trend with the CV5 Pegmatite (Figure 1). The drill hole was collared over lake ice from the outcrop’s northside at an orientation of 158°/45°, with an end-of-hole depth of 344.7 m. The drill hole encountered pegmatite deeper than anticipated based on interpreted orientation of the CV1 Pegmatite at the time, and returned the widest high-grade lithium mineralized interval to date at 3.01% Li₂O over 40.7 m within a wider zone of 2.22% Li₂O over 70.1 m. The strong lithium grades were also accompanied by strong tantalum grades of 160 ppm and 147 ppm Ta₂O₅, respectively.

Vice President of Exploration Darren L. Smith comments, “Being able to finally drill the CV5 and CV1 Pegmatites, and test our interpretation of this mineralized system after several years of dedicated mineral exploration, is certainly a highlight of my career. The grades and widths of mineralization continue to exceed expectations and confirm that we have tapped into a very sizable lithium pegmatite system. Seeing the progress of this grassroots discovery that started in 2016 with the CV1 Pegmatite and has since grown into a new and emerging lithium pegmatite district of considerable scale, is truly remarkable. Discoveries such as these are never less than a team effort and I applaud the management team, exploration geologists, and support staff involved that, together, have enabled us to piece the puzzle together and build this shareholder value. I am very excited for the weeks and months ahead, and to have the security of cash on hand to enable us to carry out this aggressive drill campaign throughout 2022.”

A summary of lithium (and tantalum) intercepts for drill hole CV22-017 is presented in Table 1 and Figure 2, and core photos of the mineralized intercept in Figures 3 and 4. Drill hole locations for holes completed as part of the winter program are in Figure 1.

Table 1: Mineralized drill intercept summary for holes completed in 2022 at the CV5-1 Pegmatite corridor
https://www.globenewswire.com/NewsRoom/AttachmentNg/45a39466-1121-4d88 ...

In addition to returning the widest high-grade lithium mineralized interval to date from the Property – 3.01% Li₂O over 40.7 m within a wider zone of 2.22% Li₂O over 70.1 m – drill hole CV22-017 also returned the highest grade of lithium to date from an individual core sample at 6.35% Li₂O over 0.92 m. This equates to a spodumene content in the sample of approximately 80%. Further, drill hole CV22-017 returned nine (9) samples >4% Li₂O and four (4) samples >5% Li₂O further demonstrating the high-grade potential the CV5-1 Pegmatite corridor has. The drill hole also returned five (5) core samples assaying >400 ppm Ta₂O₅ to a peak of 1,120 ppm Ta₂O₅ (2.07% Li₂O) over 1.0 m.