126.3 m at 1.66% Li2O and 16.1 m at 5.02% Li2O in First Batch of 2024 Drill Results from CV5 at Corvette

126.3 m at 1.66% Li2O and 16.1 m at 5.02% Li2O in First Batch of 2024 Drill Results from CV5 at Corvette

May 1, 2024 Sydney, Australia

Highlights

  • Strong lithium mineralization over wide intervals from infill drilling at CV5.
    • 126.3 m at 1.66% Li 2 O , including 54.9 m at 2.50% Li 2 O (CV24-374).
    • 100.8 m at 1.97% Li 2 O , including 69.8 m at 2.52% Li 2 O (CV24-392).
    • 90.2 m at 1.29% Li 2 O and 48.5 m at 1. 25% Li 2 O (CV24-377).
    • 94.9 m at 1.10% Li 2 O , including 26.1 m at 2.16% Li 2 O (CV24-378).
    • 70.1 m at 2.44% Li 2 O , including 46.9 m at 3.53% Li 2 O or 16.1 m at 5.02% Li 2 O (CV24-401A).
  • Focus of 2024 winter drilling at CV5 was to support an upgrade in mineral resource confidence, from the inferred category to the indicated category.
  • Core assay results are reported herein for 34 drill holes completed at CV5 in 2024.
  • The 2024 winter drill program (now complete), totaled 62,518 m (166 holes) , including 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13, of which 46,933 m (132 holes) remain to be reported.
  • An updated mineral resource estimate scheduled for Q3 2024 will focus on upgrading the resource category at CV5 and include a maiden resource at CV13, incorporating all drilling completed through to April 2024 .

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce core assay results for drill holes completed in 2024 at the CV5 Spodumene Pegmatite. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec . The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42% Li 2 O inferred 1 , is situated approximately 13.5 km south of the regional and all–weather Trans-Taiga Road and powerline infrastructure.

Darren L. Smith , Vice President of Exploration for the Company, comments: "The 2024 resource infill drilling at CV5 advanced very well over the recently completed winter program, with the first batch of assays producing some stellar results. The team has done a phenomenal job, and all remaining core samples are now at the lab for processing. We are now focused on refining the pegmatite geological model and domaining through integration of the core assay data as it comes in.

"The Company remains on schedule for a Q3 2024 update to the June 2023 maiden mineral resource estimate, which will include both the CV5 and CV13 spodumene pegmatites," added Mr. Smith.

Figure 1: Drill holes completed at the CV5 Spodumene Pegmatite through April 2024. (CNW Group/Patriot Battery Metals Inc)

Drill results for 34 drill holes, completed during the recently completed 2024 winter drill program at the CV5 Spodumene Pegmatite, are reported herein (Figure 1). Highlights include:

  • 126.3 m at 1.66% Li 2 O , including 54.9 m at 2.50% Li 2 O (CV24-374).
  • 100.8 m at 1.97% Li 2 O , including 69.8 m at 2.52% Li 2 O (CV24-392).
  • 90.2 m at 1.29% Li 2 O and 48.5 m at 1. 25% Li 2 O (CV24-377).
  • 94.9 m at 1.10% Li 2 O , including 26.1 m at 2.16% Li 2 O (CV24-378).
  • 70.1 m at 2.44% Li 2 O , including 46.9 m at 3.53% Li 2 O or 16.1 m at 5.02% Li 2 O (CV24-401A).

The 2024 winter drill program at CV5 focused on resource infill and covered ~3.9 km of the total 4.6 km pegmatite strike length defined to date. The primary objective of the infill drilling is to improve the confidence of the geological model at CV5 to support an upgrade of mineral resources from the inferred category to the indicated category. This includes the delineation of a coherent body of indicated mineral resources to support advanced development and pending economic studies at CV5.

The drill hole results announced herein continue to demonstrate strong grades and continuity of spodumene pegmatite at CV5. In particular, drill hole CV24-374 returned a significantly wider interval of pegmatite than initially modelled based on the June 2023 MRE – 126.3 m (at 1.66% Li 2 O) intercept versus an expected 86 m intercept, as predicted by the June 2023 MRE's geological model. This additional metreage was also returned from outside of the conceptual pit constraint used in the June 2023 MRE and indicates an area of potential resource growth along strike at this depth in this area (Figure 2).

Additionally, at the far east end of the high-grade Nova Zone , situated between and at a similar depth to drill holes CV23-107 ( 37.1 m at 2.09% Li 2 O, including 3.0 m at 5.43% Li 2 O) and CV23–108 ( 26.6 m at 2.44% Li 2 O, including 5.0 m at 4.30% Li 2 O), hole CV24-401A returned a significantly wider, higher-grade intercept than expected – 46.9 m at 3.53% Li 2 O including 16.1 m at 5.02% Li 2 O within a wider high-grade zone of 70.1 m at 2.44% Li 2 O (Figure 3 and Figure 4).

The 2024 winter drill program, which concluded in mid-April at the Property, totalled 62,518 m (166 holes) 50,961 m (121 holes) at CV5, and 11,557 m (45 holes) at CV13, of which 46,933 m (132 holes) remain to be reported. Core samples for all drill holes completed during the program have now arrived at the laboratory with analytical processing underway. The infill drill program at CV5 is scheduled to resume early summer and continue into the fall of this year.

An updated MRE for the Corvette Project, incorporating drilling through April 2024 , is scheduled for Q3 2024. This MRE update will include both the CV5 and CV13 spodumene pegmatites and a total anticipated metreage of 134,129 m (369 holes) and 29,121 m (133 holes), respectively.

Collectively, through April 2024 , drilling has traced the CV5 Spodumene Pegmatite over a strike length of 4.6 km, which remains open along strike at both ends and to depth over a significant portion of its length.

Core sample assays for drill holes reported herein from the CV5 Spodumene Pegmatite are presented in Table 1 for all pegmatite intersections > 2 m . Drill hole locations and attributes are presented in Table 2.

Figure 2: Geological cross-section of CV5 geological model presenting April 2024 pegmatite interpretation compared to the June 2023 pegmatite interpretation. (CNW Group/Patriot Battery Metals Inc)

Figure 3: High-grade, spodumene pegmatite drill intercept in hole CV24-401A at CV5. Core grades ~5.0% Li2O over interval presented (~320.7 m to 338.3 m) (CNW Group/Patriot Battery Metals Inc)

Figure 4: Large spodumene crystals with minor mafic inclusions in quartz pegmatite, drill hole CV24-401A at 318 m depth in Nova Zone at CV5. (CNW Group/Patriot Battery Metals Inc)

Table 1: Core assay summary for drill holes reported herein at the CV5 Spodumene Pegmatite. (CNW Group/Patriot Battery Metals Inc)

Table 2: Attributes for drill holes reported herein at the CV5 spodumene pegmatite. (CNW Group/Patriot Battery Metals Inc)

1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2 O and 160 ppm Ta 2 O 5 inferred) is reported at a cut-off grade of 0.40% Li 2 O with effective date of June 25, 2023 (through drill hole CV23-190) . Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

Quality Assurance / Quality Control (QAQC)

A Quality Assurance / Quality Control protocol following industry best practices was incorporated into the program and included systematic insertion of quartz blanks and certified reference materials into sample batches at a rate of approximately 5%. Additionally, analysis of pulp-split sample duplicates was completed to assess analytical precision, and external (secondary) laboratory pulp-split duplicates were prepared at the primary lab for subsequent check analysis and validation.

All core samples collected were shipped to SGS Canada's laboratory in Val-d'Or, QC , for sample preparation (code PRP89 special) which includes drying at 105°C, crush to 90% passing 2 mm, riffle split 250 g, and pulverize 85% passing 75 microns. The pulps were shipped by air to SGS Canada's laboratory in Burnaby, BC , where the samples were homogenized and subsequently analyzed for multi-element (including Li and Ta) using sodium peroxide fusion with ICP-AES/MS finish (codes GE_ICP91A50 and GE_IMS91A50).

About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and is interpreted to span more than 50 kilometres across the Corvette Property. The core area includes the approximate 4.6 km long CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2 O inferred 1 .

To date, eight (8) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, and the recently discovered CV14. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite "outcrop" subsurface.

Qualified/Competent Person

The information in this news release that relates to exploration results for the Corvette 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 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.

Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada , and proximal to regional road and powerline infrastructure. The Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2 O inferred 1 and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of prospective trend that remains to be assessed.

1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2 O and 160 ppm Ta 2 O 5 inferred) is reported at a cut-off grade of 0.40% Li 2 O with effective date of June 25, 2023 (through drill hole CV23-190) . Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

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

Disclaimer for Forward-looking Information

This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.

All statements, other than statements of historical fact included in this news release, regarding the Company's strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such as "plan", "expect", "estimate", "intend", "anticipate", "believe", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this release include, but are not limited to, statements concerning: an upgrade in mineral resource confidence, from the inferred category to the indicated category on the Property, the completion of an updated MRE on the Property, the processing and receipt of all remaining core samples and statements relating to the continuity of spodumene pegmatite at CV5.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include that proposed exploration and mineral resource estimate work on the Property will continue as expected, and that exploration and development results continue to support management's current plans for Property development.

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the ability to execute on plans relating to the Company's Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

Competent Person Statement (ASX Listing Rule 5.22)

The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023 . The Company confirms it is not aware of any new information or data that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.

Appendix 1 – JORC Code 2012 Table 1 (ASX Listing Rule 5.7.1)

Section 1 – Sampling Techniques and Data

Criteria

JORC Code explanation

Commentary

Sampling techniques

  • Nature and quality of sampling (eg cut
    channels, random chips, or specific
    specialized industry standard
    measurement tools appropriate to the
    minerals under investigation, such as
    down hole gammasondes, or handheld
    XRF instruments, etc). These examples
    should not be taken as limiting the
    broad meaning of sampling.

  • Include reference to measures taken to
    ensure sample representivity and the
    appropriate calibration of any
    measurement tools or systems used.

  • Aspects of the determination of
    mineralization that are Material to the
    Public Report.

  • In cases where 'industry standard'
    work has been done this would be
    relatively simple (eg 'reverse
    circulation drilling was used to obtain 1
    m samples from which 3 kg was
    pulverized to produce a 30 g charge for
    fire assay'). In other cases more
    explanation may be required, such as
    where there is coarse gold that has
    inherent sampling problems. Unusual
    commodities or mineralization types
    (eg submarine nodules) may warrant
    disclosure of detailed information.

  • Core sampling protocols meet industry standard
    practices.
  • Core sampling is guided by lithology as determined
    during geological logging (i.e., by a geologist). All
    pegmatite intervals are sampled in their entirety (half
    -core), regardless if spodumene mineralization is noted
    or not (in order to ensure an unbiased sampling
    approach) in addition to ~1 to 3 m of sampling into the
    adjacent host rock (dependent on pegmatite interval
    length) to "bookend" the sampled pegmatite.
  • The minimum individual sample length is typically 0.5 m
    and the maximum sample length is typically 2.0 m.
    Targeted individual pegmatite sample lengths are 1.0 to
    1.5 m.
  • All drill core is oriented to maximum foliation prior to
    logging and sampling and is cut with a core saw into
    half-core pieces, with one half-core collected for assay,
    and the other half-core remaining in the box for
    reference.
  • Core samples collected from drill holes were shipped
    to SGS Canada's laboratory in
    Val-d'Or, QC, for
    sample preparation (code PRP89 special) which
    included drying at 105°C, crush to 90% passing 2 mm,
    riffle split 250 g, and pulverize 85% passing 75 microns.
    Core sample pulps were shipped by air to SGS
    Canada's laboratory in Burnaby, BC, where the
    samples were homogenized and subsequently analyzed
    for multi-element (including Li and Ta) using sodium
    peroxide fusion with ICP-AES/MS finish (codes
    GE_ICP91A50 and GE_IMS91A50).

Drilling techniques

  • Drill type (eg core, reverse circulation,
    open-hole hammer, rotary air blast,
    auger, Bangka, sonic, etc) and details
    (eg core diameter, triple or standard
    tube, depth of diamond tails, face-
    sampling bit or other type, whether
    core is oriented and if so, by what
    method, etc).

  • NQ size core diamond drilling was completed for all
    holes. Core was not oriented.

Drill sample recovery

  • Method of recording and assessing
    core and chip sample recoveries and
    results assessed.

  • Measures taken to maximize sample
    recovery and ensure representative
    nature of the samples.

  • Whether a relationship exists between
    sample recovery and grade and
    whether sample bias may have
    occurred due to preferential loss/gain
    of fine/coarse material.

  • All drill core was geotechnically logged following
    industry standard practices, and include TCR, RQD,
    ISRM, and Q-Method. Core recovery is very good and
    typically exceeds 90%.

Logging

  • Whether core and chip samples have
    been geologically and geotechnically
    logged to a level of detail to support
    appropriate Mineral Resource
    estimation, mining studies and
    metallurgical studies.

  • Whether logging is qualitative or
    quantitative in nature. Core (or
    costean, channel, etc) photography.

  • The total length and percentage of the
    relevant intersections logged.

  • Upon receipt at the core shack, all drill core is pieced
    together, oriented to maximum foliation, metre
    marked, geotechnically logged (including structure),
    alteration logged, geologically logged, and sample
    logged on an individual sample basis. Core box photos
    are also collected of all core drilled, regardless of
    perceived mineralization. Specific gravity
    measurements of pegmatite are also collected at
    systematic intervals for all pegmatite drill core using the
    water immersion method, as well as select host rock
    drill core.
  • The logging is qualitative by nature, and includes
    estimates of spodumene grain size, inclusions, and
    model mineral estimates.
  • These logging practices meet or exceed current
    industry standard practices.

Sub-sampling
techniques and
sample preparation

  • If core, whether cut or sawn and
    whether quarter, half or all core taken.

  • If non-core, whether riffled, tube
    sampled, rotary split, etc and whether
    sampled wet or dry.

  • For all sample types, the nature, quality
    and appropriateness of the sample
    preparation technique.

  • Quality control procedures adopted
    for all sub-sampling stages to maximize
    representivity of samples.

  • Measures taken to ensure that the
    sampling is representative of the in situ
    material collected, including for
    instance results for field
    duplicate/second-half sampling.

  • Whether sample sizes are appropriate
    to the grain size of the material being sampled.

  • Drill core sampling follows industry best practices.
    Drill core was saw-cut with half-core sent for
    geochemical analysis and half-core remaining in the box
    for reference. The same side of the core was sampled
    to maintain representativeness.

  • Sample sizes are appropriate for the material being
    assayed.

  • A Quality Assurance / Quality Control (QAQC)
    protocol following industry best practices was
    incorporated into the program and included systematic
    insertion of quartz blanks and certified reference
    materials (CRMs) into sample batches at a rate of
    approximately 5% each. Additionally, analysis of pulp
    -split duplicates was completed to assess analytical
    precision, and external (secondary) laboratory pulp
    -split duplicates were prepared at the primary lab for
    subsequent check analysis and validation at a secondary
    lab.

  • All protocols employed are considered appropriate for
    the sample type and nature of mineralization and are
    considered the optimal approach for maintaining
    representativeness in sampling.

Quality of assay
data and laboratory
tests

  • The nature, quality and
    appropriateness of the assaying and
    laboratory procedures used and
    whether the technique is considered
    partial or total.

  • For geophysical tools, spectrometers,
    handheld XRF instruments, etc, the
    parameters used in determining the
    analysis including instrument make and
    model, reading times, calibrations
    factors applied and their derivation,
    etc.

  • Nature of quality control procedures
    adopted (eg standards, blanks,
    duplicates, external laboratory checks)
    and whether acceptable levels of
    accuracy (ie lack of bias) and precision
    have been established.

  • Core samples collected from drill holes were shipped
    to SGS Canada's laboratory in
    Val-d'Or, QC, for
    standard sample preparation (code PRP89 special)
    which included drying at 105°C, crush to 90% passing
    2 mm, riffle split 250 g, and pulverize 85% passing 75
    microns. Core sample pulps were shipped by air to SGS
    Canada's laboratory in Burnaby, BC, where the
    samples were homogenized and subsequently analyzed
    for multi-element (including Li and Ta) using sodium
    peroxide fusion with ICP-AES/MS finish (codes
    GE_ICP91A50 and GE_IMS91A50).

  • The Company relies on both its internal QAQC
    protocols (systematic use of blanks, certified reference
    materials, and external checks), as well as the
    laboratory's internal QAQC.

  • All protocols employed are considered appropriate for
    the sample type and nature of mineralization and are
    considered the optimal approach for maintaining
    representativeness in sampling.

Verification of
sampling and
assaying

  • The verification of significant
    intersections by either independent
    or alternative company personnel.
  • The use of twinned holes.
  • Documentation of primary data, data
    entry procedures, data verification,
    data storage (physical and electronic)
    protocols.
  • Discuss any adjustment to assay data.

  • Intervals are reviewed and compiled by the VP
    Exploration and Project Managers prior to disclosure,
    including a review of the Company's internal QAQC
    sample analytical data.
  • Data capture utilizes MX Deposit software whereby
    core logging data is entered directly into the software
    for storage, including direct import of laboratory
    analytical certificates as they are received. The
    Company employs various on-site and post QAQC
    protocols to ensure data integrity and accuracy.
  • Adjustments to data include reporting lithium and
    tantalum in their oxide forms, as it is reported in
    elemental form in the assay certificates. Formulas used
    are Li 2 O = Li x 2.153, and Ta 2 O 5 = Ta x 1.221.

Location of data
points

  • Accuracy and quality of surveys used to
    locate drill holes (collar and down-hole
    surveys), trenches, mine workings and
    other locations used in Mineral
    Resource estimation.
  • Specification of the grid system used.
  • Quality and adequacy of topographic
    control.

  • Each drill hole's collar has been surveyed with a RTK
    Trimble Zephyr 3.

  • The coordinate system used is UTM NAD83 Zone 18.

  • The Company completed a property-wide LiDAR and
    orthophoto survey in August 2022, which provides
    high-quality topographic control.

  • The quality and accuracy of the topographic controls
    are considered adequate for advanced stage
    exploration and development, including mineral
    resource estimation.

Data spacing and
distribution

  • Data spacing for reporting of
    Exploration Results.
  • Whether the data spacing and
    distribution is sufficient to establish the
    degree of geological and grade
    continuity appropriate for the Mineral
    Resource and Ore Reserve estimation
    procedure(s) and classifications applied.
  • Whether sample compositing has been
    applied.

  • At CV5, drill hole collar spacing is dominantly grid
    based. Several collars are typically completed from the
    same pad at varied orientations targeting pegmatite
    pierce points of ~50 to 100 m spacing.

  • At CV13, drill hole spacing is dominantly grid based at
    ~100 m; however, collar locations and hole
    orientations may vary widely, which reflect the varied
    orientation of the pegmatite body along strike.

  • At CV9, drill hole collar spacing is irregular with varied
    hole orientations and multiple collars on the same pad.

  • It is interpreted that the large majority of the drill hole
    spacing at each pegmatite is sufficient to support a
    mineral resource estimate.

  • Core sample lengths typically range from 0.5 to 2.0 m
    and average ~1.0 to 1.5 m. Sampling is continuous
    within all pegmatite encountered in the drill hole.

Orientation of data
in relation to
geological structure

  • Whether the orientation of sampling
    achieves unbiased sampling of possible
    structures and the extent to which this
    is known, considering the deposit type.
  • If the relationship between the drilling
    orientation and the orientation of key
    mineralized structures is considered to
    have introduced a sampling bias, this
    should be assessed and reported if
    material.

  • No sampling bias is anticipated based on structure
    within the mineralized body.

  • The principal mineralized bodies are relatively
    undeformed and very competent, although have some
    meaningful structural control.

  • At CV5, the principal mineralized body and adjacent
    lenses are steeply dipping resulting in oblique angles of
    intersection with true widths varying based on drill
    hole angle and orientation of pegmatite at that
    particular intersection point. i.e., the dip of the
    mineralized pegmatite body has variations in a vertical
    sense and along strike, so the true widths are not
    always apparent until several holes have been drilled (at
    the appropriate spacing) in any particular drill-fence.

  • At CV13, the principal pegmatite body has a shallow
    varied strike and northerly dip.

  • At CV9, the orientation and geometry of the pegmatite
    is not well understood. The pegmatite is currently
    interpreted to be comprised of a single principal dyke,
    which outcrops at surface, has a steep northerly dip,
    and is moderately plunging to the east-southeast.

Sample security

  • The measures taken to ensure sample
    security.

  • Samples were collected by Company staff or its
    consultants following specific protocols governing
    sample collection and handling. Core samples were
    bagged, placed in large supersacs for added security,
    palleted, and shipped directly to Val-d'Or, QC, being
    tracked during shipment along with Chain of Custody.
    Upon arrival at the laboratory, the samples were cross-
    referenced with the shipping manifest to confirm all
    samples were accounted for. At the laboratory, sample
    bags are evaluated for tampering.

Audits or reviews

  • The results of any audits or reviews of
    sampling techniques and data

  • A review of the sample procedures for the Company's
    2021 fall drill program (CF21-001 to 004) and 2022
    winter drill program (CV22-015 to 034) was
    completed by an Independent Competent Person and
    deemed adequate and acceptable to industry best
    practices (discussed in a technical report titled "NI 43-
    101 Technical Report on the Corvette Property,
    Quebec, Canada", by Alex Knox, M.Sc., P.Geol., Issue
    Date of June 27 th , 2022.)
  • A review of the sample procedures through the
    Company's 2023 winter drill program (through CV23-
    190) was completed by an independent Competent
    Person with respect to the CV5 Pegmatite's maiden
    mineral resource estimate and deemed adequate and
    acceptable to industry best practices (discussed in a
    technical report titled " NI 43–101 Technical Report,
    Mineral Resource Estimate for the CV5 Pegmatite,
    Corvette Property" by Todd McCracken, P.Geo.,of
    BBA Engineering Ltd., and Ryan Cunningham, M.Eng.,
    P.Eng., of Primero Group Americas Inc., Effective Date
    of June 25, 2023, and Issue Date of September 8, 2023
  • Additionally, the Company continually reviews and
    evaluates its procedures in order to optimize and
    ensure compliance at all levels of sample data collection
    and handling

Section 2 – Reporting of Exploration Results

Criteria

JORC Code explanation

Commentary

Mineral tenement
and land tenure
status

  • Type, reference name/number,
    location and ownership including
    agreements or material issues with
    third parties such as joint ventures,
    partnerships, overriding royalties,
    native title interests, historical sites,
    wilderness or national park and
    environmental settings.
  • The security of the tenure held at the
    time of reporting along with any known
    impediments to obtaining a licence to
    operate in the area.

  • The Corvette Property is comprised of 424 CDC
    claims located in the James Bay Region of Quebec, with
    Patriot Battery Metals Inc. being the registered title
    holder for all of the claims. The northern border of the
    Property's primary claim block is located within
    approximately 6 km to the south of the Trans-Taiga
    Road and powerline infrastructure corridor. The CV5
    Spodumene Pegmatite is situated approximately 13.5
    km south of the regional and all
    weather Trans-Taiga
    Road and powerline infrastructure. The CV13 and CV9
    spodumenepegmatites are located approximately 3 km
    west-southwest and 14 km west of CV5, respectively.
  • The Company holds 100% interest in the Property
    subject to various royalty obligations depending on
    original acquisition agreements. DG Resources
    Management holds a 2% NSR (no buyback) on 76
    claims,D.B.A. Canadian Mining House holds a 2%NSR
    on 50 claims (half buyback for $2M) and Osisko Gold
    Royalties holds a sliding scale NSR of 1.5-3.5% on
    precious metals, and 2% on all other products, over
    111 claims. The vast majority of the CV13Spodumene
    Pegmatite, as is currently delineated, is not subject to a
    royalty.
  • The Property does not overlap any atypically sensitive
    environmental areas or parks, or historical sites to the
    knowledge of the Company. There are no known
    hinderances to operating at the Property, apart from
    the goose harvesting season (typically mid-April to mid-
    May) where the communities request helicopter flying
    not be completed, and potentially wildfires depending
    on the season, scale, and location.
  • Claim expiry dates range from February 2025 to
    November 2026.

Exploration done
by other parties

  • Acknowledgment and appraisal of
    exploration by other parties

  • No core assay results from other parties are disclosed
    herein

  • The most recent independent Property review was a
    technical report titled "NI 43-101 Technical Report,
    Mineral Resource Estimate for the CV5 Pegmatite,
    Corvette Property, James Bay Region, Québec,
    Canada", by Todd McCracken, P.Geo., of BBA
    Engineering Ltd., and Ryan Cunningham, M.Eng., P.Eng.,
    of Primero Group Americas Inc., Effective Date of June
    25, 2023, and Issue Date of September 8, 2023

Geology

  • Deposit type, geological setting and
    style of mineralization.

  • The Property overlies a large portion of the Lac Guyer
    Greenstone Belt, considered part of the larger La
    Grande River Greenstone Belt and is dominated by
    volcanic rocks metamorphosed to amphibolite facies.
    The claim block is dominantly host to rocks of the
    Guyer Group (amphibolite, iron formation,
    intermediate to mafic volcanics, peridotite, pyroxenite,
    komatiite, as well as felsic volcanics). The amphibolite
    rocks that trend east-west (generally steeply south
    dipping) through this region are bordered to the north
    by the Magin Formation (conglomerate and wacke) and
    to the south by an assemblage of tonalite, granodiorite,
    and diorite, in addition to metasediments of the Marbot
    Group (conglomerate, wacke). Several regional-scale
    Proterozoic gabbroic dykes also cut through portions
    of the Property (Lac Spirt Dykes, Senneterre Dykes).

  • The geological setting is prospective for gold, silver,
    base metals, platinum group elements, and lithium over
    several different deposit styles including orogenic gold
    (Au), volcanogenic massive sulfide (Cu, Au, Ag),
    komatiite-ultramafic (Au, Ag, PGE, Ni, Cu, Co), and
    pegmatite (Li, Ta).

  • Exploration of the Property has outlined three primary
    mineral exploration trends crossing dominantly east-
    west over large portions of the Property – Golden
    Trend (gold), Maven Trend (copper, gold, silver), and
    CV Trend (lithium, tantalum). The CV5 and CV13
    spodumene pegmatites are situated within the CV
    Trend. Lithium mineralization at the Property,
    including at CV5, CV13, and CV9, is observed to occur
    within quartz-feldspar pegmatite, which may be
    exposed at surface as high relief 'whale-back'
    landforms. The pegmatite is often very coarse-grained
    and off-white in appearance, with darker sections
    commonly composed of mica and smoky quartz, and
    occasional tourmaline.

  • The lithium pegmatites at Corvette are categorized as
    LCT Pegmatites. Core assays and ongoing
    mineralogical studies, coupled with field mineral
    identification and assays, indicate spodumene as the
    dominant lithium-bearing mineral on the Property, with
    no significant petalite, lepidolite, lithium-phosphate
    minerals, or apatite present. The pegmatites also carry
    significant tantalum values with tantalite indicated to be
    the mineral phase

Drill hole
Information

  • A summary of all information material
    to the understanding of the exploration
    results including a tabulation of the
    following information for all Material
    drill holes:
    • easting and northing of the drill hole
      collar.
    • elevation or RL (Reduced Level
      – elevation above sea level in metres) of
      the drill hole collar.
    • dip and azimuth of the hole.
    • down hole length and interception
      depth.
    • hole length.
  • If the exclusion of this information is
    justified on the basis that the
    information is not Material and this
    exclusion does not detract from the
    understanding of the report, the
    Competent Person should clearly
    explain why this is the case.

  • Drill hole attribute information is included in a table
    herein.
  • P egmatite intersections of presented as they are considered insignificant.

Data aggregation
methods

  • In reporting Exploration Results,
    weighting averaging techniques,
    maximum and/or minimum grade
    truncations (eg cutting of high grades)
    and cut-off grades are usually Material
    and should be stated.

  • Where aggregate intercepts
    incorporate short lengths of high grade
    results and longer lengths of low grade
    results, the procedure used for such
    aggregation should be stated and some
    typical examples of such aggregations
    should be shown in detail.

  • The assumptions used for any
    reporting of metal equivalent values
    should be clearly stated.

  • Length weighted averages were used to calculate grade
    over width.
  • No specific grade cap or cut-off was used during grade
    width calculations. The lithium and tantalum length
    weighted average grade of the entire pegmatite interval
    is calculated for all pegmatite intervals over 2 m core
    length, as well as higher grade zones at the discretion
    of the geologist. Pegmatites have inconsistent
    mineralization by nature, resulting in some intervals
    having a small number of poorly mineralized samples
    included in the calculation. Non-pegmatite internal
    dilution is limited to typically intervals indicated when assays are reported.
  • No metal equivalents have been reported.

Relationship
between
mineralization
widths and
intercept lengths

  • These relationships are particularly
    important in the reporting of
    Exploration Results.

  • If the geometry of the mineralization
    with respect to the drill hole angle is
    known, its nature should be reported.

  • If it is not known and only the down
    hole lengths are reported, there should
    be a clear statement to this effect (eg '
    down hole length, true width not known').

  • At CV5, geological modelling is ongoing on a hole-by-
    hole basis and as assays are received. However, current
    interpretation supports a principal, large pegmatite
    body of near vertical to steeply dipping orientation,
    flanked by several subordinate pegmatite lenses
    (collectively, the 'CV5 Spodumene Pegmatite').

  • At CV13, geological modelling is ongoing on a hole-by-
    hole basis and as assays are received. However, current
    interpretation supports an upper and lower pegmatite
    body, each trending sub-parallel to each other with a
    shallow northerly dip (collectively, the 'CV13
    Spodumene Pegmatite').

  • At CV9, geological modelling is ongoing on a hole-by-
    hole basis and as assays are received. However, current
    interpretation indicates CV9 is comprised of a single
    principal dyke, which outcrops at surface, has a steep
    northerly dip, and is moderately plunging to the east-
    southeast. A strike length of 450 m has been delineated
    through drilling and outcrop.

  • All reported widths are core length. True widths are not
    calculated for each hole due to the relatively wide drill
    spacing at this stage of delineation and the typical
    irregular nature of pegmatite, as well as the varied drill
    hole orientations. As such, true widths may vary widely
    from hole to hole.

Diagrams

  • Appropriate maps and sections (with
    scales) and tabulations of intercepts
    should be included for any significant
    discovery being reported These should
    include, but not be limited to a plan
    view of drill hole collar locations and
    appropriate sectional views.

  • Please refer to the figures included herein as well as
    those posted on the Company's website.

Balanced reporting

  • Where comprehensive reporting of all
    Exploration Results is not practicable,
    representative reporting of both low
    and high grades and/or widths should
    be practiced to avoid misleading
    reporting of Exploration Results.

  • Please refer to the table(s) included herein as well as
    those posted on the Company's website.

  • Results for pegmatite intervals

Other substantive
exploration data

  • Other exploration data, if meaningful
    and material, should be reported
    including (but not limited to): geological
    observations; geophysical survey
    results; geochemical survey results;
    bulk samples – size and method of
    treatment; metallurgical test results;
    bulk density, groundwater,
    geotechnical and rock characteristics;
    potential deleterious or contaminating
    substances.

  • The Company is currently completing site
    environmental work over the CV5 and CV13
    pegmatite area. No endangered flora or fauna have
    been documented over the Property to date, and
    several sites have been identified as potentially suitable
    for mine infrastructure.
  • The Company has completed a bathymetric survey
    over the shallow glacial lake which overlies a portion
    of the CV5 Spodumene Pegmatite. The lake depth
    ranges from majority of the CV5 Spodumene Pegmatite, as
    delineated to date, is overlain by typically of water.
  • The Company has completed preliminary metallurgical
    testing comprised of HLS and magnetic testing, which
    has produced 6+% Li 2 O spodumene concentrates at
    >70% recovery on both CV5 and CV13 pegmatite
    material, indicating DMS as a viable primary process
    approach, and that both CV5 and CV13 could
    potentially feed the same process plant. A DMS test on
    CV5 Spodumene Pegmatite material returned a
    spodumene concentrate grading 5.8% Li 2 O at 79%
    recovery, strongly indicating potential for a DMS only
    operation to be applicable.
  • Various mandates required for advancing the Project
    towards economic studies have been initiated,
    including but not limited to, environmental baseline,
    metallurgy, geomechanics, hydrogeology, hydrology,
    stakeholder engagement, geochemical characterization,
    as well as transportation and logistical studies.

Further work

  • The nature and scale of planned further
    work (eg tests for lateral extensions or
    depth extensions or large-scale step-
    out drilling).
  • Diagrams clearly highlighting the areas
    of possible extensions, including the
    main geological interpretations and
    future drilling areas, provided this
    information is not commercially
    sensitive.

  • The Company intends to continue drilling the
    pegmatites of the Corvette Property, focused on the
    CV5 Pegmatite and adjacent subordinate lenses, as well
    as the CV13 Pegmatite. A follow-up drill program at
    the CV9 Spodumene Pegmatite is also anticipated

Patriot Battery Metals logo (CNW Group/Patriot Battery Metals Inc)

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Patriot Expands High-Grade "Vega Zone" at CV13 with Multiple Drill Intercepts

Patriot Expands High-Grade "Vega Zone" at CV13 with Multiple Drill Intercepts

Highlights
  • Significant expansion to the recently discovered high-grade zone (herein termed the " Vega Zone ") at the CV13 Spodumene Pegmatite. Highlights include:
    • 33.4 m at 2.40% Li 2 O , including 11.1 m at 4.33% Li 2 O , and 17.6 m at 1.89% Li 2 O , including 5.6 m at 3.40% Li 2 O (CV24-507).
    • 43.2 m at 1.10% Li 2 O , including 12.9 m at 3.06% Li 2 O (CV24-498).
    • 27.1 m at 1.02% Li 2 O including 7.6 m at 2.39% Li 2 O (CV24-513).
    • 32.1 m at 0.78% Li 2 O , including 10.7 m at 2.17% Li 2 O (CV24-499).
  • Vega Zone is open in several directions with multiple step-out holes remaining to be reported.
    • High-grade mineralization is relatively flat-lying to shallow dipping and has now been delineated over a significant area and thickness.
  • Highest individual core sample assay reported to date at Corvette – 1.7 m at 7.01% Li 2 O (CV24–507, Vega Zone).
  • Along the western arm at CV13, mineralized pegmatite has been extended down-dip to over 400 m (~190 m vertical depth from surface) with intercepts including 13.5 m at 1.15% Li 2 O (CV24-497), and 8.6 m at 1.21% Li 2 O (CV24–518).
  • Results for 32,149 m (83 holes) remain to be reported from the 2024 winter drill program – 27,611 m (67 holes) at CV5, and 4,538 m (16 holes) at CV13.
  • The Vega Zone will be a key target for the upcoming summer drill program, with details of the program to be released to the market in the coming weeks.

June 11, 2024 Sydney, Australia

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the next batch of core assay results from the CV13 Spodumene Pegmatite, including holes targeting the recently discovered high-grade zone (herein termed the "Vega Zone"), from its recently completed 2024 winter drill program at Corvette. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec . The CV13 Spodumene Pegmatite is located approximately 3 km west-southwest of the CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42% Li 2 O inferred 1 and is situated approximately 13.5 km south of the regional and all–weather Trans-Taiga Road and powerline infrastructure.

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Patriot Battery Metals Announces Closing of C$75M Financing

Patriot Battery Metals Announces Closing of C$75M Financing

/NOT FOR RELEASE TO U.S. NEWS WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES /

May 31, 2024 Sydney, Australia

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Patriot Battery Metals Announces C$75M Flow-Through Financing

Patriot Battery Metals Announces C$75M Flow-Through Financing

/NOT FOR RELEASE TO U.S. NEWS WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES /

May 22, 2024 Sydney, Australia

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122.5 m at 1.42% Li2O and 71.4 m at 1.57% Li2O at CV5

122.5 m at 1.42% Li2O and 71.4 m at 1.57% Li2O at CV5

May 16, 2025 – Sydney, Australia

Highlights
  • Continued strong lithium mineralization over wide intervals from infill drilling at CV5.
    • 122.5 m at 1.42% Li 2 O , including 35.8 m at 2.15% Li 2 O (CV24-405).
    • 71.4 m at 1.57% Li 2 O , including 14.2 m at 3.15% Li 2 O (CV24-435).
    • 68.7 m at 1.56% Li 2 O and 22.5 m at 1.04% Li 2 O (CV24-414).
    • 74.9 m at 1.28% Li 2 O , including 28.1 m at 2.28% Li 2 O (CV24-423A).
    • 53.0 m at 1.22% Li 2 O , including 25.0 m at 1.65% Li 2 O (CV24-450).
  • The focus of the 2024 winter drilling at CV5 was to support an upgrade in mineral resource confidence, from the inferred category to the indicated category, targeting release in Q3 2024 inclusive of a maiden CV13 resource.
  • Multiple holes remain to be reported targeting the newly discovered high-grade zone at CV13, with the Company to report the assay results as soon as they are received in the coming weeks.
  • 38,887 m (111 holes) remain to be reported from the 2024 winter drill program – 27,611 m (67 holes) at CV5, and 11,276 m (44 holes) at CV13.

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce the next batch of core assay results for drill holes completed in 2024 at the CV5 Spodumene Pegmatite. The Corvette Property (the "Property" or "Project"), wholly owned by the Company, is located in the Eeyou Istchee James Bay region of Quebec . The CV5 Spodumene Pegmatite, with a maiden mineral resource estimate ("MRE") of 109.2 Mt at 1.42% Li 2 O inferred 1 , is situated approximately 13.5 km south of the regional and all‑weather Trans-Taiga Road and powerline infrastructure.

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PATRIOT ALBEMARLE MOU CONCLUDED

PATRIOT ALBEMARLE MOU CONCLUDED

May 15, 2024 Sydney, Australia

Patriot Battery Metals logo (CNW Group/Patriot Battery Metals Inc.)

Highlights

  • Both parties have mutually agreed not to extend the MOU, enabling Patriot to explore a broader range of strategic partnerships within the downstream lithium sector.
  • Patriot has and continues to attract significant attention across the industry, reinforcing its position as a pivotal supplier of high-quality raw materials for lithium-ion batteries outside of China .
  • Patriot maintains a constructive ongoing relationship with Albemarle.

Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) announces today that the Memorandum of Understanding ("MOU") 9-month term with Albemarle has concluded and will not be extended. Patriot expects to fully engage with other downstream companies in the Lithium supply chain and as such all the rights granted to Albemarle have expired, including any levels of exclusivity in respect of future mine production and links to downstream chemical conversion facilities.

As the scale and quality of Patriot's Corvette Project has become increasingly evident, the Company has received significant interest from participants in the lithium industry, given the potential for Corvette to be a large and high-quality raw material supplier for the future of lithium-ion battery supply chains ex-China.  Enabling the company to fully engage with other downstream companies has been determined to be in the best interests of shareholders.

Since signing the MOU Albemarle and Patriot have worked together on the many technical aspects of an integrated project, advancing the scope of mine concentrate production and opportunities for a downstream lithium hydroxide plant integrated with the Corvette project. Further, the funding provided by Albemarle's strategic investment enabled a robust work program including installation of critical capital works such as the camp, all-weather access road and the recently completed eleven rig winter drill program.

Ken Brinsden , President and CEO of Patriot, expressed his appreciation for the partnership: "Our collaboration with Albemarle has been extremely valuable. We are proud of the progress we've made and are excited by the intense market interest in the Corvette project. As we move forward, Patriot is eager to expand its operations and explore new partnerships that support the growing demand for lithium raw materials and chemicals in North America and Europe .

We also look forward to continuing our productive relationship with Albemarle in a flexible, non-exclusive format", Mr Brinsden added.

As a result of the MOU conclusion the Investor Rights Agreement ("IRA") between Patriot and Albemarle Corporation dated August 3, 2023 was terminated in accordance with its terms. Following the termination all of the rights granted to Albemarle, including exclusivity, have expired providing Patriot with the flexibility to engage with multiple potential partners and further its strategic goals.

Patriot remains committed to maximizing shareholder value by capitalizing on the strategic opportunities available within the evolving landscape of the global lithium market.

About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and is interpreted to span more than 50 kilometres across the Corvette Property. The core area includes the approximate 4.6 km long CV5 Spodumene Pegmatite, which hosts a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2 O inferred 1 .

To date, eight (8) distinct clusters of lithium pegmatite have been discovered across the Corvette Property – CV4, CV5, CV8, CV9, CV10, CV12, CV13, and the recently discovered CV14. Given the proximity of some pegmatite outcrops to each other, as well as the shallow till cover in the area, it is probable that some of the outcrops may reflect a discontinuous surface exposure of a single, larger pegmatite "outcrop" subsurface.

1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2 O and 160 ppm Ta 2 O 5 inferred) is reported at a cut-off grade of 0.40% Li 2 O with effective date of June 25, 2023 (through drill hole CV23-190) . Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

Qualified/Competent Person

The information in this news release that relates to exploration results for the Corvette 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 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.

Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100% owned Corvette Property located in the Eeyou Istchee James Bay region of Quebec, Canada , and proximal to regional road and powerline infrastructure. The Corvette Property hosts the CV5 Spodumene Pegmatite with a maiden mineral resource estimate of 109.2 Mt at 1.42% Li 2 O inferred 1 and ranks as the largest lithium pegmatite resource in the Americas based on contained lithium carbonate equivalent (LCE), and one of the top 10 largest lithium pegmatite resources in the world. Additionally, the Corvette Property hosts multiple other spodumene pegmatite clusters that remain to be drill tested, as well as more than 20 km of prospective trend that remains to be assessed.

1 The CV5 mineral resource estimate (109.2 Mt at 1.42% Li 2 O and 160 ppm Ta 2 O 5 inferred) is reported at a cut-off grade of 0.40% Li 2 O with effective date of June 25, 2023 (through drill hole CV23-190) . Mineral resources are not mineral reserves as they do not have demonstrated economic viability. Largest lithium pegmatite resource in the Americas based on contained LCE.

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

Disclaimer for Forward-looking Information

This news release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable securities laws and other statements that are not historical facts. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.

All statements, other than statements of historical fact included in this news release, regarding the Company's strategy, future operations, technical assessments, prospects, plans and objectives of management are forward-looking statements that involve risks and uncertainties. Forward-looking statements are typically identified by words such as "plan", "expect", "estimate", "intend", "anticipate", "believe", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include that proposed exploration and mineral resource estimate work on the Corvette Property will continue as expected, and that exploration and development results continue to support management's current plans for Corvette Property development

Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business, financial condition, results of operations and growth prospects. Some of the risks the Company faces and the uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements include, among others, the ability to execute on plans relating to the Company's Corvette Project, including the timing thereof. In addition, readers are directed to carefully review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.

Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's business plans, financial performance and condition and may not be appropriate for other purposes.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

Competent Person Statement (ASX Listing Rule 5.22)

The mineral resource estimate in this release was reported by the Company in accordance with ASX Listing Rule 5.8 on July 31, 2023 . The Company confirms it is not aware of any new information or data that materially affects the information included in the announcement and that all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the competent person's findings are presented have not been materially modified from the original market announcement.

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Lithium Universe Ltd  Becancour Lithium Refinery Project Update

Lithium Universe Ltd Becancour Lithium Refinery Project Update

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (OTCMKTS:ESMAF) is pleased to announce a project update of the Becancour Lithium Refinery Project. The project is advancing well and remains on track. Key milestones include finalizing the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotation activities. Environmental site visits and studies are ongoing, with no significant issues identified. Hatch's transition from Brisbane to Montreal offices is smoothly underway, ensuring continuity in project management. Early contractor engagement and strategic risk assignment are mitigating potential delays. Overall, the project is adhering to its timeline, with significant progress in engineering and procurement, ensuring readiness for a capital cost estimate and commitment to ensure environmental compliance with the regulatory framework.

Highlights

- Project is advancing well and remains on track

- Engineering milestones include plant layout, equipment packages, datasheets, scopes of work, and specifications

- Procurement priority one packages for quotes about 60% complete

- Early contractor engagement and strategic risk assignment

- Environmental work is progressing with no show-stoppers identified to date

- Strong engagement from Federal, Provincial and Local Government

- Becancour Lithium Refinery well aligned with Provincial strategy

- Mature local government support and project understanding

Procurement

Procurement activities include sending technical specifications to suppliers for detailed quotations to build the capex estimation. For priority one mechanical equipment, nine packages have been issued, with seven offers received and evaluations currently underway. Five priority one electrical equipment supply packages will be issued for inquiry within the next week. The goal is to evaluate all priority one packages by the end of September.

Due to potential lead times for electrical transformers, the tenderer list will be expanded to reduce these lead times.

Engineering

The major engineering activities include finalizing the plant layout and preparing documentation for equipment packages, such as datasheets, scopes of work, and specifications. Key tasks also involve creating the main power distribution single line diagram and providing clarifications during the tender period. Additionally, proposals received are being thoroughly reviewed to ensure they meet project requirements. Effective handling of process effluent and site runoff is another critical focus area. The development of the package register, material take-offs (MTOs), and comprehensive equipment lists are ongoing, ensuring all necessary components and details are accurately documented and organized for the project's successful execution.

Plant Layout

The first release of the plant layout has been published, with several features still under development. These include new plant areas such as the boiler plant and process effluent treatment. Structural framing of buildings and HVAC systems are in progress, along with civil works encompassing drainage, road pavements, vehicle paths, sedimentation ponds, and car parking. The location and number of plant switch rooms is being optimised.

Efforts are being made to enhance spodumene and residue storage, focusing on materials handling and capacity. Additionally, the routing of major pipe and cable racks is being planned. The layout on-site is being designed with consideration of likely environmental constraints to ensure compliance and sustainability. These developments aim to enhance the overall efficiency and effectiveness of the project.

Environmental Work

The team is actively involved in field inventories to develop knowledge of the biodiversity present on site. Four field campaigns have been carried-out to survey the presence of short-eared owls, breeding birds, fish and fish habitat, and wetlands. Based on preliminary results, no species at risk nor species of concern as listed under the Canadian Species at Risk Act (SARA) have been identified so far. The project team is also engaged in activities to optimize the site layout and reduce encroachment on wetlands identified on the property. Surveys are expected to be completed during the Canadian Summer. Field inventory results will be used to support environmental permitting activities and discussions with the Regulators to ensure site layout and the design of the industrial facility are developed in full compliance with the environmental regulatory framework.

A Phase I study to understand previous uses of the site is progressing and no potential environmental liability has been identified based on preliminary results. The Phase I Study is expected to be completed by the end of July. Over the coming months, the team is expected to initiate the preparation of permitting documents to ensure the Project follows formal approval lines.

Priorities

The highest priorities for the next few months include finalising the environmental permitting and approvals program, which entails completing the initial field survey, briefing with the Ministry, finalising the Phase 1 Report, and preparing the first application. Engineering work necessary for the environmental permit application is also a top priority, focusing on civil design, updated plant layout, and water management strategy. In parallel, equipment procurement will involve preliminary engineering, securing vendor proposals, and establishing schedules. Confirming the treatment of process effluent and site runoff is crucial for environmental compliance.

Additionally, commencing civil and structural engineering work is essential to maintain project momentum.

Finalising the plant layout will ensure all components are correctly positioned and integrated. Lastly, execution phase planning will be progressed, contingent on the monthly budget, to ensure that all activities are appropriately funded and scheduled for efficient project advancement.

Government and Community Engagement

A trip by key leadership members to Eastern Canada. The delegation, led by CEO Alex Hanly and including Chairman Iggy Tan, Board Directors Patrick Scallan and Dr. Jingyuan Liu, and Canadian Director, Victoria Vargas, engaged with government stakeholders, community partners, and industry peers. The meetings in Montreal, Becancour, Quebec City, and Ottawa reinforced the Company's strategy to address the Lithium Conversion Gap in North America and provided updates on our engineering progress and commercial discussions.

Ministry of Economics, Innovation, and Energy

A meeting was held in Quebec City with the Honourable Minister Pierre Fitzgibbon, Minister of Economics, Innovation, and Energy. This follows the Company's initial presentation of the Company's unique strategy in November 2023 in Dubai. Once again, Minister Fitzgibbon expressed enthusiasm for our engineering progress, the acquisition of the Option agreement within the Becancour Industrial Park, and the Hydro-Quebec application for an estimated 22.5MW energy allocation for our Becancour Lithium Refinery.

Lithium Universe emphasized Quebec's strategic benefits, including hydroelectric power, proximity to the James Bay region, and logistic advantages with port access to the transatlantic region. The Minister reiterated his support for our vision of transforming Quebec into the Centre of Lithium Conversion for the transatlantic region.

The Company is impressed with the forward-thinking provincial government of Quebec and the progress of the Strategic Innovation Zone under the pragmatic guidance of Minister Fitzgibbon.

Becancour Lithium Refinery Site

In February 2024, the Company successfully executed an option agreement to acquire a refinery site strategically located within the Becancour Waterfront Industrial Park (BWIP). The site in Becancour, close to Trois-Rivieres, lies between Montreal and Quebec City and is near major highways and railways. The Port of Becancour supports year-round operations with deep-water access. The site offers low-cost hydroelectric power, robust infrastructure, and comprehensive water and waste facilities, ideal for the proposed Lithium Refinery.

The Company once again met with key executives from the BWIP in Becancour. The meeting focused on the Company's progress in site evaluation activities and included a presentation on the process design, featuring pictures from a reference lithium carbonate refinery. The port was confirmed to have the capacity to manage 50,000-ton bulk shipments, exceeding the Company's initial requirements. The Company had the opportunity to inspect Lot 22, encompassing an area of 27-hectare, and view the proximity to infrastructure and immediate tiein to existing BWIP utilities. The SPIPB team provided an overview of planned expansions and facility upgrades to the onsite infrastructure, positioning Becancour as a leader in offering prime industrial real estate in Quebec.

The Company will be looking to commence various community initiatives to integrate the industrial site into the wider community.

Municipality of Becancour

The Company met with the Mayoress of Becancour to discuss the Company's objectives to contribute to the local economy by providing hundreds of employment opportunities and helping to realize its economic potential.

LU7 reaffirmed its commitment to the Becancour and wider Trois-Rivieres region, pledging to support various social, community, and environmental initiatives in the coming years. The Mayoress expressed enthusiasm for the Company's plans within the SPIPB, recognizing the development of a proven and reliable design with internationally aligned process outputs.

Provincial Government - Quebec

The Company also met with key delegates in Montreal from Investissement Quebec (IQ), the Ministry of Natural Resources and Forests (MRNF), Energy Transition Valley Innovation Zone, and the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks. The provincial government has identified a lithium conversion gap within the supply chain, crucial for servicing the expected increase in spodumene supply from the James Bay region in the coming years. Quebec is a North American leader in attracting foreign direct investment, sustainable development, and supporting battery metals projects. The province has a strong history of supporting lithium battery supply chain development, with significant provincial and federal government incentives.

Recent government support includes the General Motors (GM) and Korea-based POSCO Chemicals' US$1 billion cathode active material (CAM) factory, the Ford/EcoPro BM US$800 million cathode factory, and Northvolt's US$7 billion EV Battery Facility at Saint-Basile-le-Grand. This creates a favourable regulatory environment for the Company's project, ensuring robust support throughout the cycle.

Canadian Federal Government - Ottawa

The Company met with various federal government stakeholders from Invest in Canada (IIC), Natural Resources Canada (NRCAN), Innovation, Science and Economic Development (ISED), and Export Development Canada (EDC). Given the lack of refining capacity in Canada, LU7's lithium carbonate plant is an innovative project, as there are no current operating or planned facilities of this kind within the country. Building lithium conversion capacity alongside spodumene mines will enable Canada to become wholly self-sufficient in the lithium chemical supply chain.

Hatch - Montreal

The Company and its engineering partner, Hatch, held a productive meeting at the Montreal office to align their shared culture and fast-track development vision. They reinforced the philosophy of "same process, same equipment, same supplier," which minimizes technical risks, ensures quality, and reduces costs. The operational environments in Australia and Canada share many similarities, facilitating the integration of skills into Quebec.

Hatch's leadership in building lithium conversion facilities and tackling challenging projects validates the decision to partner with them. Through this collaboration, the Company acknowledges Hatch's expertise as the premier lithium refinery engineering expert.

Lithium Universe Chairman, Iggy Tan said, "The project is on track, finalizing plant layout, issuing capex specs, progressing supplier quotes, with smooth office transition, and no environmental issues, ensuring readiness for capex cost estimate. The reception from federal, provincial and local government delegates has left a very positive impression on the LU7 Board of Directors. The region has made strong commitments since releasing the Critical Minerals Strategies four years ago and we have seen that in the significant investments made within the battery supply chain and pragmatic discussions held with key government executives. We look forward to advancing the Company's Becancour Lithium Refinery to contribute in making Quebec the lithium conversion centre within the Transatlantic region."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/82C8D877



About Lithium Universe Ltd:

Lithium Universe Ltd (ASX:LU7) (OTCMKTS:ESMAF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

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Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement

Victory is Pleased to Announce the Appointment of Gary Musil to the Company's Board of Directors and a Private Placement

Victory Battery Metals Corp. (CSE:VR)(OTC PINK:VRCFF)(FWB:VR6) welcomes Gary Musil as a director of the Company, effective July 1, 2024. Gary Musil has more than 35 years of management and financial consulting experience and has served as an officer and director on numerous public companies since 1988. This experience has resulted in his overseeing the financial aspects and expenditures on exploration projects in Peru, Chile, Eastern Europe (Slovak Republic), and British Columbia, Ontario, Quebec, Saskatchewan and New Brunswick (Canada). Prior to his public company work, he was employed for 15 years with Dickenson Mines Ltd. and Kam-Kotia Mines Ltd., as the Controller for their producing silverleadzinc mine in the interior of British Columbia

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Albemarle Announces Quarterly Common Stock Dividend

Albemarle Announces Quarterly Common Stock Dividend

The Board of Directors of Albemarle Corporation (NYSE: ALB) announces that it has declared a quarterly common stock dividend of $0.405 per share. The dividend, which has an annualized rate of $1.62 is payable Oct. 1, 2024 to shareholders of record at the close of business as of Sept. 13, 2024 . For 30 consecutive years, Albemarle has raised its dividend.

Albemarle Corp. Logo. (PRNewsFoto/Albemarle Corporation)

About Albemarle
Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about how the people of Albemarle are enabling a more resilient world at Albemarle.com , LinkedIn and on X (formerly known as Twitter) @AlbemarleCorp .

Albemarle regularly posts information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, U.S. Securities and Exchange Commission filings and other information regarding the company, its businesses and the markets it serves.

Forward-Looking Statements

Some of the information presented in this press release, including, without limitation, information related to future dividends and results, and all other information relating to matters that are not historical facts may constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors that could cause actual results to differ materially from the outlook expressed or implied in any forward-looking statement include, without limitation: changes in economic and business conditions; adverse changes in liquidity or financial or operating performance; changes in the demand for our products or the end-user markets in which our products are sold and the other factors detailed from time to time in the reports we file with the U.S. Securities and Exchange Commission, including those described under "Risk Factors" in our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release. We assume no obligation to provide any revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.

Investor Relations Contact: Meredith Bandy , +1 (980) 999-5768, meredith.bandy@albemarle.com
Media Contact: Peter Smolowitz
, +1 (980) 308-6310, media@albemarle.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-announces-quarterly-common-stock-dividend-302198618.html

SOURCE Albemarle Corporation

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Altech Batteries Ltd  Update on CERENERGY ABS60 Battery-pack Prototypes

Altech Batteries Ltd Update on CERENERGY ABS60 Battery-pack Prototypes

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to provide an update on the production of its CERENERGY(R) ABS60 BatteryPack prototypes. All 240 cells for the first ABS60 BatteryPack Prototype have now been fabricated, assembled and initialized at Fraunhofer IKTS Hermsdorf's pilot plant.

Highlights

- Prototype production is progressing well

- All CERENERGY(R) cells for the first 60 KWh Prototype completed

- Cell contacting system manufacturing finished and delivered

- Improved cell electrode design showing excellent results

- Cell quality tests by Fraunhofer delivering better than expected capacity

- Welding of cells to cell contacting system underway

- Completed modules will be mounted into ABS60 BatteryPack next week

To validate a homogeneous cathode material distribution, all cells were cycled through several testing stations at Fraunhofer IKTS Hermsdorf and Arnstadt.

IMPROVED CELL ELECTRODE DESIGN

During the fabrication of the two 60kWh CERENERGY(R) ABS60 BatteryPack prototypes, the Altech and Fraunhofer team made several design improvements to the cell's positive probe. These enhancements aimed to boost the cell's energy capacity and reduce the nickel content. The "V2" design of the positive probe allows for slightly faster charging and discharging while lowering the unit costs of the battery. Testing revealed that most cells had higher-than-expected energy capacities, an outstanding result that strongly supports the chosen electrode design. With all cells manufactured according to the series design and optimized processes, the best cells to date have been completed. The table below demonstrates that all the cells are meeting the expected specifications.

CELL CONTACTING SYSTEM COMPLETED

The Cell Contacting System (CCS) has undergone stringent testing and has now been completed and delivered by key supplier Hofer AG. The CCS was delivered to Fraunhofer IKTS in Dresden, where all parts of the modules will be collected to assemble each of the five modules. Each module contains 48 cells, that are currently being welded to the CCS by an external service provider.

After welding is completed, the ABS60 BatteryPack with its 60 kWh capacity can be completely assembled.

MODULE WELDING TRIALS

To guarantee the most time-efficient welding, a unique tool was designed and built at Xenon, which is responsible for welding and quality control across the 120 MWh battery plant. After completing the welding tool, it was shipped to an external laboratory, accompanied by a test module and several trial cells. The aim was to determine the best working parameters and to proof the handling of certain parts of the module.

The trials were successfully finished.

CELL MANUFACTURING PROGRESSING WELL

All 240 cells for the first ABS60 BatteryPack Prototype have been assembled and initialised at Fraunhofer IKTS, Hermsdorf. To validate a homogeneous cathode material distribution, all cells were cycled through several testing stations at Fraunhofer IKTS Hermsdorf and Arnstadt.

INTERIM CELL TESTING

At Fraunhofer IKTS in Hermsdorf, all cells were scanned using a unique X-ray microtomography device that enables the ability to look inside cells after they are hermetically closed. This is required to ensure the most homogeneous material distribution inside the cells as well as the best possible alignment of cell components e.g. electrode. The results have been excellent to date. Another quality assurance procedure involved cycling cells to ensure the electrical requirements and parameters are operating as designed.

MODULE WELDING AND BATTERYPACK ASSEMBLY

After every cell passed all quality checks, the modules containing the cells were shipped to the laboratory for welding onto the CCS. By using the predetermined parameters for welding, all modules have been successfully welded. After completion, the modules will be shipped to Fraunhofer IKTS, Dresden, where all five modules will then be mounted into the ABS60 BatteryPack and the first Prototype will be completed.

This will enable testing and demonstration to potential customers, to prove individual use cases for each customer.

ABOUT THE ABS60 - BATTERYPACK

The 60kWh Altech Battery Pack consists of five 12kWh modules with 48 cells each, mounted on top of each other and sealed in a thermal isolated stainless steel hood housing. The Battery management system is mounted at the base. To maintain thermal self-sufficiency, an insulation hood was designed, where the required heat of the system can be maintained inside the BatteryPack as long as possible, although the outer surface only has ambient temperature. This was achieved by using vacuum insulation. The base of each module is designed to accommodate folklift transport for easy mounting into the GridPack.

Commenting on the progress, MD and CEO Iggy Tan stated "Altech's team in Germany, together with its joint venture partner Fraunhofer, and with the assistance of key suppliers, have made excellent progress on the fabrication of two 60kWh CERENERGY(R) ABS60 BatteryPack prototypes. All components for the first BatteryPack have now been fabricated. Altech is now completing the welding of the cells to the Cell Contacting System, after which the five completed battery modules will be delivered to Fraunhofer IKTS in Dresden, where all five modules will be mounted into the ABS60 BatteryPack and the first ABS60 Prototype will be completed. The BatteryPack will then be available for testing and demonstration to potential customers, thereby assisting Altech in securing offtake and finance for the 120MWh CERENERGY(R) battery plant to be constructed on Altech's land in Germany".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/O449B2I4



About Altech Batteries Ltd:

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada

Nevada Sunrise Initiates Data Review to Develop New Drill Targets at the Coronado Copper Project, Nevada

Nevada Sunrise Metals Corporation (TSXV: NEV) (OTCBB: NVSGF) ("Nevada Sunrise" or the "Company") is pleased to announce that the Company has initiated a geological and geophysical data review on its Coronado Copper Project (" Coronado ", or the " Project ") located in Pershing County, Nevada approximately 48 kilometers (30 miles) southeast of Winnemucca . The purpose of the Coronado data review is to identify new, shallow drill targets in an area of the Project where historical drilling in 1976 identified high-grade copper mineralization.

Highlights of the Coronado Copper Project

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NextSource Materials Appoints Jaco Crouse as Chief Financial Officer

NextSource Materials Appoints Jaco Crouse as Chief Financial Officer

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces the appointment of Jaco Crouse as Chief Financial Officer (CFO) of the Company as part of its global growth strategy

Mr. Crouse today replaces Marc Johnson who has served as CFO since October 2015. Mr. Johnson will continue to provide consulting services to the Company to assist with the smooth transition of this role. The Board of Directors of the Company would like to thank Mr. Johnson for his service to the Company over the years and wishes him well in his future endeavours.

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