Patriot Files NI 43-101 Technical Report on the Shaakichiuwaanaan Mineral Resource Estimate, Quebec, Canada
MONTRÉAL, Aug. 29, 2025 /CNW/ - August 30, 2025 – Sydney, Australia
Patriot Battery Metals Inc. (the "Company" or "Patriot") (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to announce it has filed on SEDAR+ a technical report (the "Technical Report"), prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), titled "Mineral Resource Estimate for the Shaakichiuwaanaan Project, James Bay Region, Québec, Canada", with an Issue Date of August 28, 2025, and Effective Date of June 20, 2025. The filing follows the July 20, 2025, news release of a updated Mineral Resource Estimate for the Shaakichiuwaanaan Project's CV5 and CV13 LCT Pegmatites, including the Rigel and Vega caesium zones.
The Technical Report has been prepared by BBA Inc., with contributions from Primero Group Americas Inc., both consulting groups independent of the Company, in accordance with NI 43–101. The report is available on SEDAR+ and will shortly be available on the Company's website.
Clarification Regarding the Mineral Resource Estimate Updates in 2025
Since the beginning of the 2025, the Company has disclosed two updates of the Mineral Resource Estimate ("MRE") at the Property, the results of which are included in the Technical Report. The Company would like to provide the following clarifications regarding these updates.
The first update, announced on May 12, 2025, in the press release titled "Significant Mineral Resource Upgrade at Shaakichiuwaanaan Lithium Project to Underpin Impending Feasibility Study" (the "May 12 PR"), disclosed an updated Consolidated MRE at the Property focused on the CV5 and CV13 spodumene pegmatites. While the May 12 PR constituted material information warranting timely disclosure, a careful assessment by the Company of its impact on operational planning, economic outlook, and strategic direction led management to conclude that it did not constitute a "material change" in respect of the Company for Canadian securities law purposes. While the resource category tonnes upgrade from inferred to the indicated category were important, they did not alter the Project's execution timeline, capital allocation priorities, or underlying technical assumptions to that already described in the public domain. As a result, the Company determined that it was not required to file an updated technical report under NI 43-101 in connection with the May 12 PR.
Conversely, the Company considers the updates contained in its press release dated July 20, 2025, titled "World's Largest Pollucite-Hosted Caesium Pegmatite Mineral Resource Defined at Shaakichiuwaanaan" (the "July 20 PR"), to be material given that the Company disclosed for the first time a maiden caesium resource at the Rigel and Vega zones which was concluded to be the world's largest known pollucite-hosted caesium pegmatite Mineral Resource. The July 20 PR therefore triggered the obligation under NI 43-101 to file this Technical Report within 45 days of its release.
About Patriot Battery Metals Inc.
Patriot Battery Metals Inc. is a hard-rock lithium exploration company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property (formerly known as Corvette) located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and is proximal to regional powerline infrastructure. The Project hosts the world's largest1 pollucite-hosted caesium pegmatite Mineral Resource2 at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs2O, Indicated, and 1.70 Mt at 2.40% Cs2O, Inferred. Additionally, the Project hosts a Consolidated Mineral Resource, which includes the Rigel and Vega caesium zones, totalling 108.0 Mt at 1.40% Li2O, 0.11% Cs2O, 166 ppm Ta2O5, and 66 ppm Ga, Indicated, and 33.4 Mt at 1.33% Li2O, 0.21% Cs2O, 155 ppm Ta2O5, and 65 ppm Ga, Inferred, and ranks as the largest lithium pegmatite resource in the Americas, and in the top ten globally.
For further information, please contact us at [email protected] 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
"KEN BRINSDEN"
Kenneth Brinsden, President, CEO, & Managing Director
Qualified/Competent Person
The technical and scientific information in this news release that relates to the Shaakichiuwaanaan 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 an Executive and 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.
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2 The Consolidated MRE cut-off grade is variable depending on the mining method and pegmatite (0.40% Li2O open-pit, 0.60% Li2O underground CV5, and 0.70% Li2O underground CV13). A grade constraint of 0.50% Cs2O was used to model the Rigel and Vega caesium zones, which are entirely within the CV13 Pegmatite's open-pit mining shape. The Effective Date of the MREs is June 20, 2025 (through drill hole CV24-787). Mineral Resources are not Mineral or Ore Reserves as they do not have demonstrated economic viability. |
Disclaimer for Forward-looking Information
This press release contains "forward-looking information" or "forward-looking statements" within the meaning of applicable Securities Laws.
All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words such as "plan", "development", "growth", "continued", "intentions", "expectations", "strategy", "opportunities", "anticipated", "trends", "potential", "outlook", "ability", "additional", "on track", "prospects", "viability", "estimated", "reaches", "enhancing", "strengthen", "target", "will", "believes", 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.
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.
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 should review the detailed risk discussion in the Company's most recent Annual Information Form filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
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.
SOURCE Patriot Battery Metals Inc.
Olivier Caza-Lapointe, Head, Investor Relations, T: +1 (514) 913-5264, E: [email protected]
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