Guyana Frontier Mining Corp. announced that it has entered into an asset purchase agreementwith Patriot Lithium Limited ("Patriot") dated effective October 30, 2023 with respect to the acquisition by Patriot from Guyana of certain mineral claims located in North-West Ontario (the "Transaction"). Pursuant to the terms of Agreement, Patriot will acquire Guyana's legal and beneficial right, title and 73% interest in and to 257 mining claims compromising approximately 50km2 of contiguous claims (the "Favourable Lake Claims"), together with Guyana's right, title or interest in all information and all know-how respecting the Favourable Lake Claims (the "Technical Information").

As consideration for the acquisition of Favourable Lake Claims and Technical Information, Patriot will issue 3,379,630 common shares in the capital stock of Patriot (each a "Patriot Share"). In addition to the consideration payable to Guyana pursuant to the terms of the Agreement, Guyana has entered into a Net Smelter Returns Royalty Agreement (the "Royalty Agreement") with Patriot. In connection with the Royalty Agreement, Patriot has granted Guyana a 1.46% net smelter returns royalty from the sale of all products from the naturally occurring metallic and non-metallic minerals that are mined produced or recovered from the Favourable Lake Claims by Patriot, which are not covered by existing royalties (the "Royalty").

Patriot, may, at any time, by making a cash purchase of C$730,000 to Guyana to reduce the Royalty from 1.46% to 0.73%.