Patriot Files Preliminary Base Shelf Prospectus

Core Viewpoint - Patriot Battery Metals Inc. has filed a preliminary short form base shelf prospectus to enhance financial flexibility and align share issuance processes between TSX and ASX, following a successful C$75 million financing in May 2024 [1][19][20]. Financial Position - The company is well-funded through the current cycle, supported by a strong balance sheet, which enables a multi-pronged exploration and development strategy [1]. - The base shelf prospectus allows for the potential offering of securities up to an aggregate price of C$250 million over a 25-month period [20]. Exploration and Development Plans - The company plans to deliver a Summer-Fall work program in 2024, an impending resource update in August, a Preliminary Economic Assessment (PEA) in September, and a Feasibility Study by the September quarter of 2025 [1]. - The Corvette Property, which is 100% owned by the company, hosts the CV5 Spodumene Pegmatite with a maiden Mineral Resource Estimate of 109.2 million tonnes at 1.42% Li2O, making it the largest lithium pegmatite resource in the Americas [13][21]. Regulatory Context - The filing of the base shelf prospectus is a customary practice in Canada, allowing the company to undergo the necessary regulatory review before any securities offering [12]. - Securities issued under this prospectus are not subject to a four-month mandatory hold period in Canada, facilitating quicker access to capital [12].