Patterson Metals Announces Acquisition of Pendleton Lake Exploration Corp.

(TheNewswire)

Vancouver, Canada – TheNewswire- March 11 th , 2025 – Patterson Metals Corp. (the “Company”) (TSXV: PAT , FWB: 33H2) ispleased to announce that it has entered into an agreement, dated March10, 2025, to acquire (the “Acquisition”) all of the issued andoutstanding shares of Pendleton Lake Exploration Corp. (“PendletonLake”), a privately-held company which holds the rights to acquirethe Pendleton Lake Uranium project, located in the prolific AthabascaBasin.

The Pendleton Lake Uranium project covers an area ofapproximately 415 hectares on the southeastern lip of the AthabascaBasin.  Since the early seventies, the project has been subject tomultiple exploration programs, including airborne geophysical andprospecting programs.  The principal exploration targets at PendletonLake are two radioactive boulder trains.  In 1972, CanadianOccidental Petroleum Ltd. discovered several radioactive boulders 200meast of Pendleton Lake.  The highest samples taken graded 7.17% U3O8and 5.97% U3O8.  In 1980, Marine Oil Corporation examined aradioactive boulder train which extended for several kilometers on theeastern shore of Pendleton Lake.  Multiple radioactive samples weretaken, with the highest sample grading 1.01% U3O8 and containinganomalous values for vanadium, barium, and lead (Jean Descarraux Ph.D. 1980).

Under the terms of the Acquisition, the Company willacquire all the shares of Pendleton Lake in exchange for the issuanceof 500,000 common shares to the existing shareholder of Pendleton Lake(the “Vendor”).  Pendleton Lake holds the right to acquire thePendleton Lake Uranium project, subject to a one-percent royalty onnet smelter returns, by completing a series of explorationexpenditures totaling $500,000.  The expenditures must be incurredwithin five years, with at least $100,000 of the expenditures incurredin the first two years.

The Company is at arm's length from the Vendor andPendleton Lake.  No finders' fees or commissions are payable by theCompany in connection with the Acquisition.  Completion of theAcquisition remains subject to the approval of the TSX VentureExchange and the satisfaction of customary closing deliveries.

“We are excited to move forward with the acquisitionof Pendleton Lake as we continue to build a world-class portfolio ofexploration-stage uranium projects,” said Simon Cheng, President ofthe Company. “The Pendleton Lake Uranium project, with itshistorical high-grade samples and strategic location in the AthabascaBasin, represents a significant opportunity for our company and ourshareholders as we advance our exploration efforts in this globallyrenowned uranium district.”

Qualified Person

Dr. Peter Born, P.Geo., is the designated qualifiedperson as defined by National Instrument 43-101 and is responsiblefor, and has approved, the technical information contained in thisrelease.

About Patterson Metals Corp

Patterson Metals Corp . is a mineral exploration company with a focus on uranium.We create value for our shareholders by engaging in promising mineralexploration opportunities. Our main goal is the advancement of variousprojects from discovery all the way to production. This verticallyintegrated strategy allows the Company to achieve exceptionalshareholder value through the entire life-cycle of the miningprocess.

Patterson Metals Corp . owns the Carter Lake Uranium Projectwhich spans over 691 hectares on the western flank of the AthabascaBasin, strategically positioned within the Carter Lake Corridor, asubstantial structural feature that runs parallel to the renownedPatterson Lake Corridor – home to mineralization control points forNexGen's Rook 1 deposit and Fission Uranium's PLS deposit.

For further information, contact the Company at info@pattersonmetals.com or604.558.4300, or visit the Company’s website at www.pattersonmetals.com .

On behalf of the Board,

Patterson Metals Corp.

Simon Cheng, President

Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release.

This news release may containcertain “Forward-Looking Statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 andapplicable Canadian securities laws.  When or if used in this newsrelease, the words “anticipate”, “believe”, “estimate”,“expect”, “target, “plan”, “forecast”, “may”,“schedule” and similar words or expressions identifyforward-looking statements or information.  These forward-lookingstatements or information may relate to the Acquisition and relatedregulatory approvals, as well as other factors or information.  Suchstatements represent the Company’s current views with respect tofuture events and are necessarily based upon a number of assumptionsand estimates that, while considered reasonable by the Company, areinherently subject to significant business, economic, competitive,political and social risks, contingencies and uncertainties. Manyfactors, both known and unknown, could cause results, performance, orachievements to be materially different from the results, performanceor achievements that are or may be expressed or implied by suchforward-looking statements. The Company does not intend, and does notassume any obligation, to update these forward-looking statements orinformation to reflect changes in assumptions or changes incircumstances or any other events affecting such statements andinformation other than as required by applicable laws, rules andregulations.

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