Patriot Battery Metals Responds to Short Report, Advances Corvette Lithium Project

Patriot Battery Metals (ASX: PMT), a leading lithium explorer, has responded to a recent short report published by Night Market Research, addressing the inaccuracies and misleading claims made in the report. The last price of Patriot Battery Metals Inc. is $1.765, reflecting a positive change of $0.130 (7.951%) today.

Here are the key points:

Refuting the Short Report:

Patriot asserts that the claims made in the report regarding management and technical fundamentals of the Corvette Lithium Project are factually inaccurate and misleading.

The report was published without consulting the company or allowing for fact-checking, and it was revealed that Night Market Research holds a short-interest position in Patriot, indicating a potential conflict of interest.

Transparency and Progress:

Patriot confirms that the maiden resource estimate for the Corvette project will be released in the coming weeks and expects it to reveal a large-scale and high-grade lithium deposit compared to similar projects globally. The company has demonstrated transparency by releasing its lithium drilling results and making the entire drill-hole database available on its website. Addressing speculation of corporate activity, Patriot clarifies that it has not received any takeover or corporate proposals to date and remains focused on independently developing the project.

Winter Drill Program Highlights:

Patriot announces the final core assay results from its 2023 winter drill program at the Corvette Property.

The Nova Zone, with a strike length of at least 1.1 km, yielded high-grade intersections, including 108.0 meters at 2.44% Li2O and 115.3 meters at 1.81% Li2O. The CV5 Pegmatite also returned positive results, with wide widths and strong grades, indicating the significant lithium potential of the area.

Future Plans:

Patriot has appointed advisors and key personnel to support the development and financing of the Corvette project. The company remains committed to advancing the maiden resource, accelerating exploration drilling, and progressing permitting and environmental work. Trading of Patriot's securities has resumed on the TSX and ASX, following the lifting of the trading halt. Patriot Battery Metals Inc. is focused on the hard-rock lithium exploration of its Corvette Property in Quebec, Canada, which has shown promising results in drilling and is expected to contribute to the growing lithium markets in North America and Europe.

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