Energy Fuels Executes Definitive Agreement to Sell Alta Mesa ISR Project to enCore Energy for $120 Million, Facilitating the Company's Plans to Accelerate Both Uranium and Rare Earth Production

Energy Fuels Executes Definitive Agreement to Sell Alta Mesa ISR Project to enCore Energy for $120 Million, Facilitating the Company's Plans to Accelerate Both Uranium and Rare Earth Production

Non-dilutive sale of asset expected to materially enhance Energy Fuels' balance sheet and help to fund the rapid advancement and expansion of near-term U.S. uranium and rare earth production

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) ("Energy Fuels" or the "Company") a leading U.S. producer of uranium and rare earth elements (" REE "), is pleased to announce that it has entered into a definitive agreement to sell three wholly-owned subsidiaries that together hold Energy Fuels' Alta Mesa ISR Project (" Alta Mesa ") to enCore Energy (" enCore ") for total consideration of $120 million (the " Transaction "). The Transaction is expected to close by the end of 2022 or early 2023.

Energy Fuels Inc. logo (CNW Group/Energy Fuels Inc.)

The Transaction is significant for the Company, as the cash received is expected to fully finance much of the Company's uranium, REE, vanadium and medical isotope business plans for the next two to three years without diluting shareholders. These plans may include:

  1. Ramping-up uranium production at one or more of the White Mesa Mill, the Nichols Ranch ISR Project, the Pinyon Plain mine, the La Sal Complex, and/or the Whirlwind mine which total up to two (2) million pounds of U3O8 per year of near-term, lower cost U.S. production capacity in order to fulfill commitments under existing and future long-term uranium supply agreements and as market conditions may warrant;
  2. Accelerating the licensing and development of the Company's larger-scale uranium mines, including the Sheep Mountain, Roca Honda , and/or Bullfrog projects, which together will add over five (5) million pounds of production capacity in the next several years;
  3. Establishing an "ore purchasing" program to secure additional feed to the White Mesa Mill, from others in the region as uranium mining picks up in the region, thereby maximizing the facility's existing eight (8) million pounds per year licensed uranium production capacity and having sole ownership of this production;
  4. Financing the construction of "first to market" in the U.S. "Phase 1" REE separation infrastructure (up to 2,500 – 5, 000 MT per year TREO capacity, including 500 – 1, 000 MT per year of NdPr oxide or oxalate expected) at the White Mesa Mill;
  5. Advancing the design, engineering and permitting of a planned, large "world significant" "Phase 2" crack-and-leach and "light" and "heavy" REE separation facility (up to 15, 000 mT per year TREO capacity).
  6. Developing the Company's Bahia heavy mineral sand and REE project in Brazil upon successful acquisition of the project; and
  7. Acquiring additional monazite supply to feed the Company's rapidly growing REE business.

The $120 million of total consideration will be paid by enCore to Energy Fuels as follows:

  1. $60 million cash at closing; and
  2. $60 million in a secured convertible note (the "Note"), payable in two years from the closing, bearing annual interest of eight percent (8%). The Note will be convertible at Energy Fuels' election into enCore shares at a 20% premium to the 10-day volume-weighted average price of enCore shares ending the day before the closing. enCore is currently traded on the TSXV and has applied for a listing on the NASDAQ. The Note will be guaranteed by enCore Energy Corp., will be fully secured by Alta Mesa, and enCore will not be permitted to further encumber Alta Mesa with any third-party indebtedness, royalty or stream while the Note is outstanding.  Unless a block trade or similar distribution is executed by Energy Fuels to sell the enCore common shares underlying the Note, Energy Fuels will be limited to converting the Note into a maximum of $10 million principal amount of the Note per thirty (30) day period.

Furthermore, enCore will assume all reclamation liabilities associated with Alta Mesa (approximately $10.3 million ) and pay Energy Fuels the cash collateral on the existing reclamation bonds (approximately $3.6 million ). Once the reclamation liabilities are transferred to enCore, Energy Fuels will be nearly 60% collateralized on its remaining reclamation obligations. The Company also estimates that the sale of Alta Mesa will reduce Energy Fuels' cash burn by approximately $2 million per year.

Energy Fuels acquired Alta Mesa in 2016 for approximately $13.6 million of shares, and currently carries this project on its balance sheet at $8.2 million . The Transaction represents an exceptional return on investment for Energy Fuels, and the value metrics of the Transaction compare favorably against precedent transactions within the uranium sector.  Energy Fuels expects to replace the expected uranium production from Alta Mesa through permitting and production from its existing larger mining projects, ore purchases, toll milling arrangements, additional alternate feed and clean-up material, and potentially other transactions as market conditions may warrant.

Mark S. Chalmers , President and CEO of Energy Fuels stated: "This is a unique transaction for Energy Fuels. Not only does it allow us to monetize the Alta Mesa Project for $120 million , it allows our company to focus and accelerate our higher priority uranium and rare earth projects without dilution to our shareholders. This non-dilutive transaction will add cash to Energy Fuels' significant working capital position, which was $122 million at September 30, 2022 . Energy Fuels will also retain some exposure to short-term market upside and optionality at Alta Mesa and enCore through the convertible note.

"With recent uranium market strength and having secured new long-term uranium contracts with major U.S. nuclear utilities earlier this year, the Company is beginning to perform the work needed to recommence production at one or more of our projects, with production expected to start as soon as 2023. We have already hired about 20 people, and the cash we receive from the Alta Mesa transaction will help further fund this ramp-up. On top of this, the Company plans to establish an "ore purchasing" program from future uranium mining from others that maximizes the underutilized uranium production capacity of the White Mesa Mill with the uranium produced going 100% to our account in a way that others cannot. Energy Fuels absolutely intends to retain our position as the leading producer of uranium in the U.S. through our remaining outstanding portfolio of ISR and conventional uranium assets, and this transaction with enCore helps to both finance and focus our plans in this regard without dilution associated with equity financings.

"This cash also helps facilitate our plans to install rare earth separation infrastructure at our White Mesa Mill, including the expected capacity to produce approximately 500 – 1,000 tonnes per annum of separated 'light' rare earth oxides (or oxalates) by the end of 2023 or early 2024. We are also working on a number of fronts to secure additional monazite supply to feed our new rare earth infrastructure, and we expect this cash to significantly help finance purchases of monazite, fund our Bahia project in Brazil upon successful completion of that acquisition, and otherwise help in this regard. If we are successful with our rare earth initiatives, we have the potential to be the 'first-to-market' in the U.S. for the sale of commercial quantities of separated NdPr oxides (or oxalates), a raw material for rare earth permanent magnets used in electric vehicle drivetrains, wind energy systems, and defense applications. For reference, high-efficiency EVs each require about one to two kilograms of NdPr oxide. Therefore, in the next 12-18 months, if we are successful in constructing our Phase 1 rare earth separation capabilities, Energy Fuels could be domestically producing enough magnet material for 250,000 to 1 million EV drivetrains per year.

"I also believe this Transaction represents an important step forward for enCore Energy. Alta Mesa is a fully permitted and developed U.S. uranium project, and enCore's President and CEO, Paul Goranson , knows it well, having constructed and operated it himself about ten years ago. To us, this appears to be a value creative transaction for both Energy Fuels and enCore."

The closing of the Transaction is expected to occur by December 31, 2022 . If the Transaction is not completed due to certain circumstances, enCore is required to pay to Energy Fuels a $6 million break fee.

Cantor Fitzgerald Canada Corporation is acting as Energy Fuels' financial advisor and Dorsey & Whitney LLP and Dentons are acting as Energy Fuels' legal advisors in connection with the Transaction.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U 3 O 8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to full commercial-scale production of RE Carbonate. Its corporate offices are in Lakewood, Colorado near Denver , and all its assets and employees are in the United States . Energy Fuels holds three of America's key uranium production centers: the White Mesa Mill in Utah , the Nichols Ranch ISR Project in Wyoming , and the Alta Mesa ISR Project in Texas . The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U 3 O 8 per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U 3 O 8 per year. The Alta Mesa ISR Project is also currently on standby and has a licensed capacity of 1.5 million pounds of U 3 O 8 per year. In addition to the above production facilities, Energy Fuels also has one of the largest S-K 1300 and NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels' common shares is the NYSE American under the trading symbol "UUUU," and the Company's common shares are also listed on the Toronto Stock Exchange under the trading symbol "EFR." Energy Fuels' website is www.energyfuels.com .

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain "Forward Looking Information" and "Forward Looking Statements" within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; the ability of the Company to accelerate uranium and rare earth production; scalability, and the Company's ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions;; any expectation as to the timing of the closing of the Transaction or whether the closing will in fact occur; any expectation that the Transaction may fully finance much of the Company's uranium, rare earth, vanadium, and medical isotope business plans for the next two to three years; any expectation that the Company may license and eventually produce uranium from its Sheep Mountain, Roca Honda and/or Bullfrog projects; any expectation as to recommencement of production at any of the Company's uranium mines or the timing thereof; any expectation as to the ability of the Company to secure any new sources of ore or other processing opportunities at the Mill through an ore purchasing program; any expectation as to timelines for the permitting and development of projects; any expectation that the Company will maintain its position as a leading uranium company in the United States ; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate and/or separated REE oxides or oxalates on a full-scale commercial basis;  any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise, including the timing of any such initiatives and the expected production capacity or capital and operating costs associated with any such production capabilities; any expectation with respect to the quantities of monazite sands to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill's RE Carbonate; any expectation that the Company may sell its separated NdPr oxide (or oxalate) to major electric vehicle manufacturers in the U.S. and Europe ; any expectation that the Bahia Project has the potential to feed the Mill with REE and uranium-bearing monazite sand for decades; any expectation as to the quantities to be delivered under existing uranium sales contracts, or that such contracts may help underpin the Company's uranium business for many years to come; and any expectation that the Company will generate net income in future periods. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans," "expects," "does not expect," "is expected," "is likely," "budgets," "scheduled," "estimates," "forecasts," "intends," "anticipates," "does not anticipate," or "believes," or variations of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will be taken," "occur," "be achieved" or "have the potential to." All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of Alternate Feed Materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate radium or other radioisotopes at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption "Risk Factors" in the Company's most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml , on SEDAR at www.sedar.com , and on the Company's website at www.energyfuels.com . Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/energy-fuels-executes-definitive-agreement-to-sell-alta-mesa-isr-project-to-encore-energy-for-120-million-facilitating-the-companys-plans-to-accelerate-both-uranium-and-rare-earth-production-301676785.html

SOURCE Energy Fuels Inc.

Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/November2022/14/c7307.html

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  • The acquisition will include Base Resources' 100%-owned advanced, world-class Toliara heavy mineral sands project in Madagascar (" Toliara " or the " Project "), which includes a long-life, high-value and low cost monazite stream, produced as a byproduct of primary titanium and zirconium production.

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  • The transaction will also secure Base Resources' mine development and operations team, who have a successful track-record of designing, constructing, and profitably operating a world-class heavy mineral sands operation in Africa .

  • Energy Fuels is currently engaged in high-level discussions with various U.S. government agencies and other offices who provide support for critical mineral projects, domestically and abroad.

  • The transaction is complementary to and further strengthens Energy Fuels' U.S.-leading uranium production capability and plans.

  • Senator Mike Lee , the Senior Senator from Utah and a member of the Senate Committee on Energy and Natural Resources, stated: "I'm grateful to Energy Fuels for their work to ensure the United States has a domestic critical mineral source. The acquisition of Base Resources and the Toliara project will only further their capacity and ability to produce minerals needed for defense, technology, and everyday life."

  • Conference call on Monday, April 22, 2024 at 8:00 am ET .

Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (" Energy Fuels " or the " Company "), a leading U.S. producer of uranium, REEs, and vanadium, is pleased to announce that it has executed a definitive Scheme Implementation Deed (the " SID ") with Base Resources Limited (ASX: BSE) (AIM: BSE) (" Base Resources ") pursuant to which Energy Fuels has agreed to acquire 100% of the issued shares of Base Resources (the " Transaction ") in consideration for (i) 0.0260 Energy Fuels common shares (the " Share Consideration ") and (ii) A$0.065 in cash, payable by way of a special dividend by Base Resources to its shareholders (the " Cash Consideration ", and together with the Share Consideration, the " Scheme Consideration ") for each Base Resources ordinary share held, for a total equity value of approximately A$375 million 1 . The Transaction will be effected by way of a scheme of arrangement under Australia's Corporations Act (the " Scheme "). Unless otherwise indicated in this news release, all references to dollars or $ are references to United States dollars.

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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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/patriot-albemarle-mou-concluded-302145739.html

SOURCE Patriot Battery Metals Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/15/c1336.html

News Provided by Canada Newswire via QuoteMedia

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