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Staff Writer

Patriot Battery Metals Inc. (ASX: PMT) has obtained promising core assays for the next series of drill holes completed as part of the 2023 winter drill programme, which recently concluded at its wholly owned Corvette Property in James Bay region of Quebec.

The winter phase of the 2023 drill campaign was focused on the CV5 Pegmatite, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure.

Core assays, for the drill holes reported cover the CV5 Pegmatite’s recently defined eastward extension the high-grade Nova Zone, and the recently defined westward extension.

Drill hole CV23-148 targeted the Nova Zone and returned a wide and high-grade intercept of 95.3 m at 1.62% Li2O, including 47.6 m at 2.09% Li2O or 4.1 m at 4.44% Li2O. The high-grade result affirms the interpretation that the Nova Zone extends continuously over a strike length of at least 1.1 km – from drill holes CV23-132 to 108.

Strong grades and widths were returned in drilling over the recently defined westward extension, highlighted by drill hole CV23-160A, which returned 127.7 m at 1.78% Li2O, including 50.1 m at 2.43% Li2O. Other drill holes in this area, with assays reported herein, include CV23-172 (13.2 m at 1.14% Li2O, and 15.7 m at 0.94% Li2O), CV23-182 (14.8 m at 1.06% Li2O), and CV23-187 (14.1 m at 1.19% Li2O). Additionally, drill hole CV23-174, located proximal to the westward extension, returned a strong intercept of 44.2 m at 0.99% Li2O, including 15.3 m at 2.58% Li2O.

Drill core sample assays for two (2) holes remain to be reported over the westward extension area of the CV5 Pegmatite. This includes a continuous 93m interval of dominantly spodumene-bearing pegmatite in the most westerly drill hole completed through the end of the winter program (CV23-184), and a continuous 139 m interval of dominantly spodumene-bearing pegmatite in the final drill hole of the 2023 winter program (CV23-190).

Assay results for holes reported herein over the far eastern portion of CV5, as is currently defined, returned variable grades and widths of lithium mineralized pegmatite. Results include 51.2 m at 0.59% Li2O, including 10.1 m at 0.87% Li2O and 9.3 m at 0.91% Li2O (CV23-154), and 27.5 m at 0.40% Li2O, including 3.2 m at 2.22% Li2O (CV23-156). Internal fractionation commonly leads to lower-grade pegmatite being immediately adjacent to higher- grade pegmatite. Considering the wide and continuous widths of pegmatite in these holes (CV23- 154 and 156), at 49.9 m and 27.5 m, respectively, the grades returned are very encouraging with respect to the potential for additional and proximal higher-grade zones to be present. The pegmatite in this area remains open up-dip, down-dip, and along strike eastwardly.

Through the 2023 winter drill programme, the CV5 Pegmatite has been traced continuously by drilling (at approximately 50 to 150 m spacing) as a principally continuous spodumene- mineralized body over a lateral distance of at least 3.7 km and remains open along strike at both ends and to depth along most of its length.

The company remains on target for a July 2023 announcement for the initial mineral resource estimate at CV5, which will include all drill holes completed through April 17, 2023 (i.e., the recently completed winter drill program). The timing of the announcement remains dependent on timely receipt of the final outstanding core sample assays from the laboratory, as well as final database and model validation.

Core assay results remain to be reported for 12 drill holes completed during the winter program, with all drill core samples having arrived at the analytical lab (SGS).

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