Patriot Battery Metals Inc. announced additional drill results from the 2023 program completed at the CV5 Spodumene Pegmatite at the Corvette Property. The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li2O inferred, is situated approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure and is currently accessible by winter road. Drill results for 12 drill holes completed in 2023 at the CV5 Spodumene Pegmatite are reported herein.

These holes primarily target the western extension of CV5 (CV23-236, 243, 248, 259, and 268), as well as resource infill to improve the confidence of the geological model to support an upgrade of mineral resources from the inferred category to the indicated category (CV23-246, 251, and 256). Several holes were also completed over the eastern, near-surface areas of CV5 to test for an up-dip extension of the principal pegmatite body to surface (CV23-244, 252, and 260), as well as a hydrogeology hole (CV23-262) situated immediately south of CV5 and within the conceptual open-pit. Drilling over the western extension was very successful and confirms well-mineralized spodumene pegmatite at CV5 continues along strike westwardly with results including: 34.2 m at 1.06% Li2O, including 14.2 m at 1.83% Li2O (CV23-236), 27.7 m at 1.20% Li2O and 7.2 m at 1.27% Li2O (CV23-243), and 10.2 m at 1.47% Li2O and 6.7 m at 2.27% Li2O (CV23-259).

A geological cross-section of the western extension along drill holes CV23-236 and 243 is presented in Figure 2. These mineralized drill intercepts confirm an extension of the CV5 Pegmatite's strike length to 4.4 km, with results from drill holes completed in 2023 for an additional 0.2 km of highly prospective strike length yet to be reported. Drill holes targeting mineral resource infill also returned significant results highlighted by: An aggregate collective pegmatite interval of 134 m in drill hole CV23-246 ? core assay results of 89.5 m at 1.01% Li2O, 17.9 m at 1.31% Li2O, 19.0 m at 2.56% Li2O, including 11.6 m at 3.25% Li2O, and 7.4 m at 0.82% Li2O.

37.2 m at 1.02% Li2O (CV23-251), and 11.3 m at 1.54% Li2O (CV23-256). Drilling over the eastern areas of CV5 with the objective of tracing the pegmatite to surface, partially outside of the 2023 mineral resource estimate block model, was met with limited success. Drill holes CV23-244, 252, and 260 intersected only minor pegmatite intervals (<2 m) in this area.

Current interpretation indicates the pegmatite may be plunging in this area and variably flares to surface, while remaining open along strike and at depth. The eastern portion of the CV5 Spodumene Pegmatite did not fall within the recent June 2023 maiden mineral resource estimate partially due to lack of drill density. However, the most eastern line of holes completed to date returned a well mineralized interval of 36.0 m at 1.36% Li2O, including 17.0 m at 2.31% Li2O (CV23-165) indicating significant potential remains in this area.

Several drill holes are planned during the ongoing winter 2024 program to further delineate this area. In addition to infill, further step-out drilling is planned at the CV5 Spodumene Pegmatite as part of the 2024 winter program currently underway at the Property. Approximately 3 km of highly prospective geological trend remains to be drill tested between the CV5 and CV13 pegmatites.

For drill holes completed in 2023, results remain to be reported for the CV13 Pegmatite (35 holes), the CV5 Pegmatite (42 holes), and the CV9 Pegmatite (18 holes). The Company has completed the on-site processing of the drill core backlog from the 2023 program with all samples now at the lab.