Ann: Patriot Battery Metals Responds to Short Report, page-6

They did not address all the issues in the short report which is unfortunate. There were important issues not addressed eg the true width and cross sections. It was a bit of an underwhelming response and still leaves unanswered questions. There is still a lot of uncertainty which is never good for a stock.

I still have trouble understanding why the range of analyst’s MRE views are so wide between 70mt (or 90mt excluding the shorter) and 160mt - a 2 to 1 ratio - such a ide range indicates a lack of understanding of the drill results implying PMT’s transparency is not as good as it needs to be on drill results - PMT’s transparency on drill results obviously compares poorly with other lithium stocks (eg PLS, LTR, DLI, LRS and AZS). Such a large MRE range makes it difficult to understand whether the stock is cheap or expensive.

In summary still a lot of uncertainty remains which is a lost opportunity.