Patriot Battery Metals Welcomes Brett Grosvenor to the Newly Formed Project Steering Group to Expedite Advancement of the Corvette Lithium Property

Rhea-AI Summary

Patriot Battery Metals has announced the formation of a Project Steering Group (PSG) for its Corvette Project, reporting directly to the Board of Directors. The PSG includes key figures such as CEO Blair Way and lithium expert Brett Grosvenor, aiming to enhance exploration and development activities. The Corvette Project shows significant lithium potential, with drill results indicating impressive Li2O concentrations. Additionally, the company has granted Grosvenor 250,000 stock options as part of its compensation package.

Positive

• Formation of a Project Steering Group to enhance oversight and strategic direction for the Corvette Project.
• Inclusion of experienced lithium industry specialist Brett Grosvenor, potentially increasing project viability.
• Strong drill results from the Corvette Project indicating significant lithium and tantalum mineralization.

Negative

• None.

VANCOUVER, British Columbia, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (TSX-V: PMET) (OTCQB: PMETF) (FSE: R9GA) is pleased to announce that it has formed a Project Steering Group (the “PSG”) for the Corvette Project (the “Property” or “Project”), that will report directly to the Company’s Board of Directors. The PSG will be comprised of Blair Way (CEO, President, and Director), Ken Brinsden (Non-Executive Chairman), Darren L. Smith (Vice President of Exploration), and Lithium Industry Development Specialist Brett Grosvenor. The purpose of the PSG is to assist the Board of Directors in ensuring the Company implements a well-structured, practical, and efficient exploration and development approach for the lithium pegmatite on the Corvette Property.

Specifically, the Project Steering Group will assist the Board of Directors in fulfilling its oversight responsibilities with respect to:

• ensuring implementation of best-in-class exploration, development, and operating practices
• ensuring the most appropriate consultants are engaged throughout the Project’s advancement and development
• any technical matters relating to exploration, development, permitting, construction, and operation of the Company’s activities
  

Blair Way, Company President, CEO and Director, comments: “I am very happy to announce the formation of this project steering group as well as announcing Brett as part of our team. Brett brings a wealth of knowledge on the development and implementation of hard rock lithium projects and will help facilitate the aggressive advancement of the Corvette Property as envisioned by the Company. We must anticipate and plan for all aspects of advancing this Property through exploration, deposit definition, and the full development cycle to get to the end game objective of an operating mine and production facility.”

Brett Grosvenor adds: “having been involved with a large number of hard rock Lithium projects around the world, I believe the potential scale and size of the Corvette Project could make it one of the world’s largest commercially viable hard rock Lithium discoveries. Combined with the excellent metallurgical test results recently released and the caliber of the management team, Patriot has the potential to be a significant player in the lithium market. For these reasons, I could not pass up the opportunity of working with the Patriot team as they embark on this exciting journey”.

Mr Grosvenor has over 25 years of industry experience in the development and delivery of minerals processing, energy, and infrastructure projects across the world, more specifically in Australia, Asia, Europe, North America, and South America. He has been heavily involved in the development of several notable lithium projects such as Greenbushes, Pilgangoora, James Bay to name a few. As a Director at Primero Group, Perth, Australia, over the last ten years he was instrumental in the strategic positioning of Primero as one of the premier lithium mineral processing and engineering groups in the world.

Mr Grosvenor holds a Bachelor Degree in Mechanical Engineering and a MBA. He is currently the Executive Chairman of Firetail Resources, Non-Executive Director of ASX listed Perpetual Resources Ltd and Firebird Metals Limited, and sits on the Western Australian Industry Consultation Group for Battery and Critical Minerals

The Company has granted to Mr. Grosvenor 250,000 stock options exercisable at CAD $9.00 vesting immediately with a 4-year term. The stock options are granted and governed in accordance with the Company’s 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

What is the purpose of the Project Steering Group for Patriot Battery Metals?

The Project Steering Group will assist the Board of Directors in implementing efficient exploration and development strategies for the Corvette Project.

Who are the members of the Project Steering Group formed by Patriot Battery Metals?

The members include CEO Blair Way, Non-Executive Chairman Ken Brinsden, VP of Exploration Darren L. Smith, and lithium specialist Brett Grosvenor.

What are the recent achievements of the Corvette Project reported by PMETF?

Recent drilling has revealed significant lithium concentrations, including drill intercepts of 1.22% Li2O over 152.8 meters and 2.22% Li2O over 70.1 meters.

How many stock options were granted to Brett Grosvenor by Patriot Battery Metals?

Brett Grosvenor was granted 250,000 stock options exercisable at CAD $9.00, vesting immediately.