Patriot Battery Metals Announces Board Changes

Rhea-AI Summary

Patriot Battery Metals Inc. (TSXV: PMET, OTCQB: PMETF) announces the appointment of Brian Jennings, CPA, CA, as a Director and Chairman of the Audit Committee, effective immediately. Jennings brings 30 years of experience in financial management and corporate restructuring, currently serving as CFO of Generation Mining Limited. The company also thanks long-term Director Adrian Lamoureux for his contributions as he resigns. Additionally, 500,000 incentive stock options were granted to Jennings at an exercise price of $2.58 per share for three years.

Positive

• Appointment of Brian Jennings enhances financial and operational leadership.
• Jennings' extensive experience in the resource sector could drive growth for the Corvette Lithium property.
• Granting of 500,000 stock options may align Jennings' interests with the company's performance.

Negative

• None.

VANCOUVER, British Columbia, July 19, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSXV: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce the appointment of Mr. Brian Jennings, CPA, CA, B.Sc. as a Director of the Company effective immediately.

Blair Way stated: “We are very pleased to welcome Brian to the Patriot Battery Metals team as independent director and chairman of the audit committee. His resource sector strategic, financial, and operating skill set will greatly enhance our team moving forward as we continue to grow the company. Brian’s experience will be extremely valuable as the company grows the 100% owned Corvette Lithium property.

Mr. Jennings is a Chartered Accountant and geologist with 30 years of experience working as a senior financial executive and corporate restructuring professional. Mr. Jennings is currently the Chief Financial Officer of Generation Mining Limited which is developing a palladium - copper project in Marathon, Ontario. He has also served as the Chief Financial Officer of several public junior mining and technology companies during his career and spent nine years with Ernst & Young where he was Vice-President Corporate Restructuring and involved in several high-profile Canadian corporate restructurings.

The Company also announces the resignation of long-term Director, Mr. Adrian Lamoureux. We would like to take this opportunity to thank Mr. Lamoureux for his valued contribution to the Company over the many years he has been with the Company.

Blair Way further stated: “On behalf of the Company and the Board of Directors, I would like to sincerely thank Adrian for his contributions over the last 8 years and wish him well with future endeavors.”

The Company further announces the granting of 500,000 incentive stock options (the "Options") to Mr. Jennings. The Options are exercisable at $2.58 per share for a period of three years from the date of grant. The Options have been granted under and are governed by the terms of the Company's incentive stock option plan.

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 (604) 279-8709 , 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.

FAQ

Who is the new director of Patriot Battery Metals as of July 19, 2022?

Brian Jennings has been appointed as a Director of Patriot Battery Metals, effective July 19, 2022.

What experience does Brian Jennings bring to Patriot Battery Metals?

Brian Jennings brings 30 years of experience in financial management and corporate restructuring, previously serving as CFO of Generation Mining Limited.

What is the significance of the stock options granted to Brian Jennings?

500,000 stock options were granted to Jennings at an exercise price of $2.58 per share, aligning his interests with company performance.

What is the status of Adrian Lamoureux with Patriot Battery Metals?

Adrian Lamoureux has resigned as a Director after contributing to the company for eight years.