Three basic techniques to practice and take to whatever level you want -
1) alternate picking in groups of three and four notes per string
2) legatto, same again - groups of three and four notes per string
3) sweep picking, one and two octave arpeggios

Apply the above three to the entire fretboard. You need to know your way around the full fretboard whether by ear or by theory - eg know the sound and shapes for the different modes so you can play in and out of them to add character to your lead.

To take it to the next level you then need to add:
1) advanced slides
2) whammy bar
3) harmonics (pinched and natural)
4) vibratto

These last four are what a lot of shredders forget to learn and end up sounding like robots. Get them right in your own way and you will have your own sound.

Try to stay away from pentatonics for as long as possible in order to force yourself to play other scales patterns (don't forget exotic scales). Pentatonics sound much better in shred when used sparingly.

Hope that helps point you in the right direction re frame of mind. As far as what exercises and patterns to play goes, it depends on your current level, what you can and can't already play etc. There are thousands of exercises on the site, go with the ones you like the sound of.