Patriot Battery Metals Achieves 6% Li2O Spodumene Concentrate Grade in Preliminary HLS Metallurgical Test Work on the CV5 Pegmatite at the Corvette Property

Highlights

- Preliminary Heavy Liquid Separation (“HLS”) tests on drill core from the CV5 Pegmatite (CF21-001 and 002) at two different crush sizes support a potential flowsheet using Dense Media Separation (“DMS”) process followed by magnetic separation to produce a 6+% Li2O spodumene concentrate

-- HLS tests followed by magnetic separation produced a 6+% Li2O spodumene concentrates at overall lithium recoveries exceeding 70%

-- The recoveries achieved from the HLS testing has resulted in the Company commencing a DMS metallurgical testing program

-- A DMS process test run is underway to confirm the applicability of DMS to the flowsheet and is targeted to produce over 10 kg of marketable spodumene concentrate

-- Fe2O3 content of ~0.65% in final spodumene concentrate following magnetic separation on HLS concentrate

-- HLS testing is the industry standard lab bench scale testing to be done before larger scale DMS metallurgical testing

- The spodumene in the metallurgical samples from the CV5 Pegmatite is very coarse grained and liberates effectively at -6.5 mm and -9.5 mm crush sizes which has the potential to reduce the power intensity of the flowsheet due to less grinding (typically the most energy intensive part of the flowsheet)

- A Phase II mineral processing program is currently being planned for this fall and is anticipated to include five (5) x 400+ kg samples of composited drill core intervals, each representing a different section of the principal mineralized pegmatite at Corvette

- Tantalum recovery remains a reasonable target for the Project by further processing of the combined DMS undersize (-0.85 mm) and middlings fractions


VANCOUVER, Aug. 04, 2022 - Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce the results of preliminary metallurgical test work on a 225 kg drill core composite sample collected from the CV5 spodumene pegmatite at the Corvette Property (the ‘Property’), located in the James Bay Region of Quebec. The CV5 Pegmatite is the principal pegmatite occurrence on the Property, located approximately 13.5 km south of the regional and all-weather Trans-Taiga Road and powerline infrastructure, and is currently being delineated by three (3) drill rigs active on site.

The Company is pleased to report that the HLS results (following magnetic separation) completed on drill core from the CV5 Pegmatite – drill holes CF21-001 and 002 – have resulted in 6+% Li2O spodumene concentrates at very high lithium recoveries exceeding 70%, and at an iron content of approximately 0.65% Fe2O3. These recoveries are significantly higher than those of certain peer projects being advanced globally where DMS has been incorporated into their flowsheets. Although HLS results are only an indication of a DMS circuit’s performance in operation, the results are a strong indication that DMS is applicable to the Project’s flowsheet as a primary driver for lithium recovery.

Blair Way, Company President, CEO and Director, comments: “These preliminary metallurgical results are a significant milestone for the Corvette Project due to the potential ripple effects of a coarse spodumene grain size and a DMS flowsheet. Developing a new mining operation is not just about exploration geology but also producing a marketable product in a sustainable way and de-risking the project development path. Grinding is normally the most power intensive part of a spodumene concentrate flowsheet and with DMS fine grinding is not required. The coarse nature of the spodumene from these initial metallurgical samples of the CV5 pegmatite lay the foundation of potentially a very robust and cost effective process flowsheet. I look forward to updating our investors on the results of the DMS metallurgical work in the fall.”

A primary reason for the strong HLS results is the very coarse-grained nature of the spodumene at CV5 which allows for strong liberation at coarse crush sizes. In this case, crush sizes of -6.5 mm and -9.5 mm are indicated to be effective. What this means for the company is that the spodumene at CV5 may be effectively processed at coarse crush sizes using the most preferred and conventional mineral processing technique in the industry without the need to consume incremental power in the grinding circuit to achieve a fine grind size. A DMS focused operation is strongly preferred to a flotation only operation as DMS is a less complicated process to operate, more cost effective, and may be commissioned over a significantly shorter timeframe compared to a flotation operation, and therefore, carries a significantly reduced technical risk.

A DMS test run is planned to be completed in the fall of 2022, as immediate follow-up to the HLS test work. The primary objective of the DMS test run is to confirm the preliminary HLS results as well as to refine the mineral processing flowsheet for the Project. Additionally, a total of 10+ kg of on-spec, marketable spodumene concentrate is expected to be produced from the test run.

Flotation test work remains as part of the Phase I metallurgy program and will utilize the DMS undersize (-0.85 mm) and the DMS middlings as a combined feed. This material is expected to comprise about 1/3 of the pre-processed sample mass (i.e. whole rock) and 20-30% of the lithium not recovered directly from the combined DMS and magnetic separation circuit. This test work will help confirm the expected recovery of lithium from the combined DMS undersize and middlings fractions.

Additionally, tantalum recovery remains a reasonable target for the Project through this further processing of the combined DMS undersize and middlings fractions by flotation. The preliminary test work indicates that roughly 65% of the tantalum reports to these fractions and may be recoverable through flotation and/or gravity separation into a secondary marketable product with negligible impact on the overall lithium recovery. Although the dominant focus is optimizing lithium recovery, the Company will continue to monitor the tantalum deportment throughout the flowsheet and evaluate its recovery into a secondary concentrate.

The metallurgical test program is being completed by SGS Canada Inc. at their facility in Lakefield, ON, and is focused on industry standard and cost-effective processing techniques applicable to spodumene pegmatite. The program includes heavy liquid separation (“HLS”) test work, which is used to assess the viability of a dense media separation (“DMS”) circuit in the flowsheet, as well as DMS test work, magnetic separation, and flotation (see news release dated June 7, 2022).

A Phase II metallurgical program is currently being planned for this fall and is anticipated to include five (5) x 400+ kg samples of composited drill core intervals (including a reasonable dilution), each sample composite representing a different section of the principal mineralized pegmatite (CV5-6-1) at Corvette. This Phase II test work will therefore be comprised of a larger and more representative sampling of the mineralized pegmatite body compared to the initial Phase I test work. The program will focus on mineral processing and assess variability in processing between samples with the overarching objective to further develop and refine the front-end flowsheet through to marketable spodumene concentrate at high lithium recovery.

Figure 1: Non-magnetic (left) and magnetic (right) products on HLS sink (2.85 SG) following -6.3 mm crush. Non-magnetic concentrate grades 6.23% Li2O and 0.66% Fe2O3
https://www.globenewswire.com/NewsRoom/AttachmentNg/151dc4c6-ac46-4434-a677-5fc8d61fb7c7


About the CV Lithium Trend

The CV Lithium Trend is an emerging spodumene pegmatite district discovered by the Company in 2017 and spans more than 25-km across the Corvette Property. The core area includes an approximate 2 km long corridor hosting numerous spodumene pegmatites, highlighted by the large CV1 and CV5 pegmatite outcrops, and has returned drill intercepts of 1.22% Li2O and 138 ppm Ta2O5 over 152.8 m (CV22-030), 1.45% Li2O and 177 ppm Ta2O5 over 84.0 m (CV22-028), and 2.22% Li2O and 147 ppm Ta2O5 over 70.1 m, including 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m (CV22-017). Drilling to date indicates a principal spodumene-bearing pegmatite body of significant size and has been traced by drilling over a distance of at least 1.9 km, and therefore, is considerably larger than that observed in outcrop. The high number of well-mineralized pegmatites in this core area of the trend indicate a strong potential for a series of relatively closely spaced/stacked, sub-parallel, and sizable spodumene-bearing pegmatite bodies, with significant lateral and depth extent, to be present.


Qualified Person

Darren L. Smith, M.Sc., P. Geo., Vice President of Exploration of the Company, a registered permit holder with the Ordre des Géologues du Québec, and Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.


About Patriot Battery Metals Inc.

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral properties containing battery, base, and precious metals.

The Company’s flagship asset is the 100% owned Corvette Property, located proximal to the Trans-Taiga Road and powerline infrastructural corridor in the James Bay Region of Québec. The land package hosts significant lithium potential highlighted by the CV5-1 spodumene pegmatite corridor with drill intercepts of 1.22% Li2O and 138 ppm Ta2O5 over 152.8 m (CV22-030), and 2.22% Li2O and 147 ppm Ta2O5 over 70.1 m, including 3.01% Li2O and 160 ppm Ta2O5 over 40.7 m (CV22-017). Additionally, the Property hosts the Golden Gap Trend with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, and the Maven Trend with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop.

The Company also holds 100% ownership of the Freeman Creek Gold Property in Idaho, USA which hosts two prospective gold prospects - the Gold Dyke Prospect with a 2020 drill hole intersection of 4.11 g/t Au and 33.0 g/t Ag over 12 m, and the Carmen Creek Prospect with surface sample results including 25.5 g/t Au, 159 g/t Ag, and 9.75% Cu.

The Company’s other assets include the Pontax Lithium-Gold Property, QC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.

For further information, please contact us at info@patriotbatterymetals.com Tel: +1 (778) 945-2950, or visit www.patriotbatterymetals.com.


On Behalf of the Board of Directors,

“BLAIR WAY”
Blair Way, President, CEO, & Director



Disclaimer for Forward-Looking Information

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and testing, and other risks detailed from time to time in the filings made by the Company with securities regulators, available at www.sedar.com. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

No securities regulatory authority or stock exchange has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.