Patriot Provides Progress Update on the Feasibility Study at the Shaakichiuwaanaan Property

March 18, 2025

Highlights

• Feasibility Study progressing to plan with a target September 2025 completion date.
• Updated Block model for the CV5 Pegmatite has been completed and handed over to the FS team using the extensive resource development/infill drilling program from 2024 and inclusive of the high-grade Nova Zone (see news release dated February 27, 2025).
• FS will support the Company’s ESIA submission which is also expected to be finalized and submitted in September 2025.
• FS is expected to closely resemble the scope proposed in the previously published PEA, inclusive ofutilizing Dense Media Separation (“DMS”) only processing and staged production growth.
• Strong cash position post the Volkswagen/PowerCo strategic investment and offtake agreement supports continued project progress through the FS and ongoing environmental approvals.

Ken Brinsden, Patriot CEO and President, comments: “Building on the significant progress achieved over the last 3 years at Shaakichiuwaanaan, the team is well advanced in 2025 with multiple parallel workstreams underway around resource development, environmental studies and documentation, and the Feasibility Study.”

“With the support of our key strategic shareholders VW, the Company has been unwavering in progressing the project as quickly and efficiently as possible, ensuring the Project’s preeminent position among North American lithium development proposals,” added Mr. Brinsden.

Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide a progress update on the Feasibility Study (“FS”) on the Company’s wholly owned Shaakichiuwaanaan Property (the “Property” or “Project”), located in the Eeyou Istchee James Bay region of Quebec.

The Shaakichiuwaanaan Property hosts a consolidated Mineral Resource Estimate[1] (“MRE”) of 80.1 Mt at 1.44% Li₂O Indicated and 62.5 Mt at 1.31% Li₂O Inferred. The CV5 Spodumene Pegmatite, which forms the bulk of the MRE, is accessible year-round by all-season road and is situated approximately 14 km from a major hydroelectric powerline corridor. The CV13 Pegmatite is located <3 km along geological trend from the CV5 Pegmatite, which hosts additional lithium and tantalum resources, as well as a recently discovered zone of cesium mineralisation (see news release dated March 2, 2025).

The FS on the Shaakichiuwaanaan Project’s CV5 Pegmatite commenced in September 2024. G Mining Services of Montreal, Quebec has been selected to be the Project Integrator of the NI 43-101 Report with associated work on the FS to be completed by the following consultants:

• G Mining Services: ~70% of the total FS engineering work including mine design;
• Primero Americas: DMS Plant design;
• AtkinsRealis: Waste & Water Management design;
• Vision Geochemistry: Geochemistry program design & site-wide water modeling; and
• Paterson & Cooke: Pastefill Plant design.
• BBA Engineering: Geology

The FS was launched following a comprehensive Preliminary Economic Assessment (“PEA”) Study completed by the Company in August 2024 (see news release dated August 21, 2024).  Prior to commencing the FS, various work programs were undertaken which included significant field, desktop, and lab work. Trade-off studies were also completed by the integrated team to align on the best mine development pathway forward for the FS.

Following this work, it was determined that the FS will be progressed to closely resemble the scope proposed within the previously published PEA, inclusive of staged production growth. The FS continues with the DMS only process methodology, based on the excellent recovery characteristics demonstrated through the previously reported metallurgical testwork of 2023 and 2024. DMS only processing simplifies construction, commissioning and ongoing operations, and lowers cost when compared to the addition of flotation recovery techniques.

Work continues to determine the optimum schedule for underground mining, including access to the high-grade Nova Zone.

The high-grade Nova Zone has been traced in multiple drill holes over a strike length of at least 1,100 metres, with geological modelling supporting a continuous spodumene mineralized zone of variable thickness at grades well in excess of 2% Li₂O, occurring between vertical depths of approximately 125 to 325 metres.

The updated and finalized block model for the CV5 Pegmatite, has now been completed by BBA Engineering (the Qualified Person (‘QP’) for geology and the Mineral Resource model), and has been handed over to G Mining (Project Integrator and QP for the upcoming Mineral Reserve).

Handover of the updated block model has now allowed work to commence on the final mine design for the FS based on the Indicated Resources contained within. The open pit and underground mine design teams are now fully engaged and completing the final mine design, along with all the other supporting consultants on their FS deliverables. The FS team is expected to remain on schedule to deliver the NI 43-101 Final Report in September 2025.

Figure 1: Shaakichiuwaanaan Exploration Camp

Figure 2: A portion of the all-season road (~20 km in length) built by the Company, extending from the all-season Trans-Taiga Road to the CV5 Spodumene Pegmatite.

Qualified/Competent Person

The information in this news release that relates to exploration results for the Shaakichiuwaanaan Property is based on, and fairly represents, information compiled by Mr. Darren L. Smith, M.Sc., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 01968), and with the Association of Professional Engineers and Geoscientists of Alberta (member number 87868). Mr. Smith has reviewed and approved the technical information in this news release.

Mr. Smith is an Executive and Vice President of Exploration for Patriot Battery Metals Inc. and holds common shares and options in the Company.

Mr. Smith has sufficient experience, which is relevant to the style of mineralization, type of deposit under consideration, and to the activities being undertaken to qualify as a Competent Person as described by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr. Smith consents to the inclusion in this news release of the matters based on his information in the form and context in which it appears.

About Patriot Battery Metals Inc.

Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette) located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and is proximal to regional powerline infrastructure. The Shaakichiuwaanaan Mineral Resource¹, which includes the CV5 & CV13 spodumene pegmatites, totals 80.1 Mt at 1.44% Li₂O Indicated, and 62.5 Mt at 1.31% Li₂O Inferred, and ranks as the largest lithium pegmatite resource in the Americas, and the 8^th largest lithium pegmatite resource in the world.

A Preliminary Economic Assessment (“PEA”) was announced for the CV5 Pegmatite August 21, 2024, and highlights it as a potential North American lithium raw materials powerhouse. The PEA outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation (“DMS”) only process flowsheet.

¹ Shaakichiuwaanaan (CV5 & CV13) Mineral Resource Estimate (80.1 Mt at 1.44% Li₂O and 163 ppm Ta₂O₅Indicated, and 62.5 Mt at 1.31% Li₂O and 147 ppm Ta₂O₅ ppm Inferred) is reported at a cut-off grade of 0.40% Li₂O (open-pit), 0.60% Li₂O (underground CV5), and 0.80% Li₂O (underground CV13) with an Effective Date of August 21, 2024 (through drill hole CV24-526). Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability.

For further information, please contact us at info@patriotbatterymetals.com or by calling +1 (604) 279-8709, or visit www.patriotbatterymetals.com. Please also refer to the Company’s continuous disclosure filings, available under its profile at www.sedarplus.ca and www.asx.com.au, for available exploration data.

This news release has been approved by the Board of Directors.

“KEN BRINSDEN”

Kenneth Brinsden, President, CEO, & Managing Director

Olivier Caza-Lapointe
Head, Investor Relations
T: +1 (514) 913-5264
E: ocazalapointe@patriotbatterymetals.com

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