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Clean Air Metals Presents Update on Mineral Resource Estimation Process at Current Deposit, Thunder Bay North Project

Press Release

THUNDER BAY, ON, March 3, 2023 – Clean Air Metals Inc. (“Clean Air Metals” or the “Company”) (TSXV: AIR) (OTCQB: CLRMF) (FRA: CKU), is pleased to provide an update on the preparation of a new mineral resource estimate at the Thunder Bay North Project by SLR Consulting (Canada) Ltd. (“SLR”) (see press release dated February 15, 2023).

The Company continues to work with SLR Consulting, with the cooperation of Nordmin Engineering, to determine the nature, cause, and extent of the discrepancy, if confirmed, as outlined in the Company’s February 15, 2023, news release. This work includes a review of the Company’s geological framework, as well as modeling approaches, mineralogy, geochemistry and mineral assemblages employed as controls on mineralization in preparing the geological interpretation.

SLR has also been commissioned by the Company, at the completion of this review, to complete a full and independent mineral resource update of the Thunder Bay North project which includes both the Current and Escape deposits. Review work for the Escape deposit, which has had over 38,000 metres of additional infill drilling since the previous mineral resource estimate was published, do not suggest a discrepancy in metal content.

It should be further noted that Todd McCracken, P.Geo Director – Mine and Geology at BBA E&C Inc. and a recognized expert in resource estimation, has been appointed as an owner representative to the Company to assist senior management and the board of directors with the technical issues under review.

Abraham Drost, Chief Executive Officer of Clean Air Metals, commented: “The parties are engaged in a robust process to reconcile the mineral resource at the Current Deposit. The continued collaboration of the parties towards resolution of the discrepancy is appreciated and recognizes the efficacy of disclosure requirements under NI 43-101.”

Qualified Person

Dr. Geoff Heggie, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Vice President – Exploration for the Company, has reviewed and approved all technical information in this press release.

Social Engagement

Clean Air Metals Inc. and its wholly owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Critical Minerals Project is on the traditional territories of the Fort William First Nation, Red Rock Indian Band and Biinjitiwabik Zaaging Anishinabek. The parties together are the Cooperating Participants in a Memorandum of Agreement dated January 9, 2021 (press release January 11, 2021) and Exploration Agreement signed April 13, 2022 (press release April 14, 2022).

The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, traveled, and gathered on the lands since time immemorial. Clean Air Metals is committed to stewarding Indigenous heritage and remains committed to building, fostering and encouraging a respectful relationship with First Nations and Métis peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.

About Clean Air Metals Inc.

Clean Air Metals’ flagship asset is the 100% owned, high grade Thunder Bay North Critical Minerals Project, a platinum, palladium, copper, nickel project located near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum.

Email: [email protected]



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