Patriot Battery Metals Inc. announced it has earned its second 25% interest in the FCI Property, taking the Company to a 50% ownership as part of an Option Agreement (the “Agreement”) with O3 Mining Inc. (“O3 Mining”) to earn up to a 75% interest. The FCI Property is comprised of two neighboring claim blocks (FCI East and FCI West), for a combined total of 111 claims (5,688 ha), which are situated contiguous to the Company's wholly owned Corvette claim block, located in the James Bay Region of Quebec, proximal to regional hydro-electric and road infrastructure. Collectively, the Corvette-FCI Property (the “Property”) is comprised of 367 contiguous claims totalling 18,795 ha.

The Corvette-FCI Property is situated within the Guyer Group (wacke, iron formation, komatiite, tuffs, amphibolite) of the greater La Grande Greenstone Belt, which trends east-west through the region, approximately 6 to 18 km south of the Trans-Taiga Road and power line corridor. The Property hosts a highly prospective CV Lithium Trend (spodumene pegmatite), spanning a distance of over 25 km, as well as the Golden Gap Trend (gold), and the Maven Trend (copper-gold-silver). In fall 2021, the Company completed its inaugural drill program on the Property targeting the CV and Maven trends, with the first drill hole (CV21-001) – targeting the CV5-6 pegmatites – returning a 146.8 m interval of near continuous pegmatite, assaying 0.93% Li2O and 114 ppm Ta2O5, including1.09% Li2O and 108 ppm Ta2O5 over 73.0 m, and 1.04% Li2O and 145 ppm Ta2O5 over 54.6 m (see news release dated November 29th, 2021).

This interval returned numerous samples over 2.0% Li2O, including a peak assay of 4.16% Li2O and 233 ppm Ta2O5 over 1.01 m. Assays remain to be received for the remaining drill holes from the program (CV21-002 through CV21-014). The Company is in close contact with the lab in order to expedite final results as soon as possible; however, the laboratories in the industry continue to be constrained, which has dramatically impacted turn-around times. Drill holes CF21-002, 003, and 004 each intersected wide intervals of pegmatite containing varying amounts of spodumene mineralization (assays pending), ranging from 59.1 m to 126.5 m core length.

Collectively, the grades returned to date at surface and from CF21-001, coupled with the wide widths of spodumene pegmatite observed in core over several drill holes along strike, emphasize the size of the mineralizing system and indicate the Company has tapped into a mineralized body of potentially considerable significance.