Clean Air Metals Receives 3-Year Exploration Permit for Its Thunder Bay North Project and Provides a Company Update - Seite 2

Mr. Gallagher continues, "I have taken direct calls from many investors recently, concerned about the lack of activity and news flow from the Company and my response remains consistent:

• the Company is committed to managing its cash which sits at approximately $7 million at the end of October 2023.
• The Company has no debt.
• The quality of the asset and the mineral resource has not changed. It is a rare Platinum, Palladium asset outside of South Africa and Russia. The Project is in a stable jurisdiction and is close to all necessary infrastructure.
• The Project has 4 critical metals and the price for these metals is projected to rebound, perhaps dramatically given the imbalance between green energy demand and the current investment levels in mining.
• The Company is taking further steps to reduce costs.
• The Company's valuation is unrealistically low.
• We remain reluctant to raise funds at these poor valuations and are positioning ourselves to wait out these markets until investor interest returns to the market."

Permitting

One additional permit is still pending for a bridge crossing required to access the Escape down plunge drill setup area. The process is well underway, and the Company does not expect any issues with the application.

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.

Indigenous Community Social and Economic Engagement

Clean Air Metals Inc. and its wholly owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850, and includes the territories of the Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of our area. 

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, Métis and Inuit peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.