Patriot Battery Metals Inc. (TSXV:PMET) – Hard Rock Li Discoveries Gearing Up to Electrify Your Corvette

Initiating Coverage

We are initiating coverage on Patriot Battery Metals Inc. with a BUY rating and C$7.00/sh target price. Patriot is a hard rock lithium explorer advancing its 100%-owned, flagship Corvette property in the James Bay Region of Quebec. While Corvette is prospective for Au, Ag and Cu, drill results from five of thirteen known pegmatite outcrops identified to date over a 20km trend have yielded high Li grades and wide intercepts. As a 15,000m drill program is underway and a successful field mapping program is making discoveries, we believe Patriot may delineate further zones, on its way to becoming what we believe may already be one of the largest, and highest-grade hard rock Li discoveries in Canada. Corvette has a 50km-long Li pegmatite trend and is near other large lithium deposits including Whabouchi, James Bay and Rose. Drill results to date have returned >1.0% Li₂O, exceeding grades required to make a suitable concentrate. Drilling highlights include 1.22% Li₂O and 138ppm Ta₂O₅ over 152.8m, including 1.51% Li₂O and 100ppm Ta₂O₅ over 66.0m (CV22-030), which represents one of the highest lithium grade x interval results globally.