CLEAN AIR METALS INC - CLRMF STOCK NEWS

Clean Air Metals Inc. files unaudited financial statements and management's discussion and analysis for the six-month period ended July 31, 2023.

Clean Air Metals announces new magnetic inversion results from Thunder Bay North Critical Minerals Project, indicating potential down plunge extension of deposit. Geophysical inversion program initiated to target intrusions and potential mineralization at depth. Early exploration permitting process for next phase of drilling underway. Final metallurgical test report received, showing optimal results with bulk flotation and copper-nickel separation process. Market commentary highlights potential for metals price super cycle and importance of platinum in green hydrogen economy. CEO states project development timeline aligns with hydrogen economy growth. Company has sufficient cash resources to support planned activities into 2024. Webinar and Q&A session scheduled for September 6, 2023. Beaver Creek Precious Metals Summit to take place on September 12-15, 2023.

Clean Air Metals completes updated Mineral Resource estimate for Thunder Bay North Critical Metals Project

Clean Air Metals Inc. (OTCQB: CLRMF) updates on the Thunder Bay North Project, confirming collaboration with SLR Consulting to address discrepancies in mineral resources. A review is underway, including geological modeling and mineralogy analysis. Notably, over 38,000 meters of infill drilling at the Escape deposit shows no significant discrepancies in metal content. Abraham Drost, CEO, acknowledged the importance of transparent processes under NI 43-101. The project engages Indigenous communities, emphasizing respectful collaboration. Upcoming updates on resource estimation timelines are anticipated.

Clean Air Metals has announced an ongoing internal review of its mineral resource estimate for the Thunder Bay North Project, revealing a potential 20% to 50% reduction in the metal content of the Current Deposit. This significant adjustment stems from discrepancies in earlier estimates provided by Nordmin Engineering Ltd. The Company has retracted previous assessments, indicating that projected economics may be adversely affected. Meanwhile, the Escape Deposit remains stable, supported by recent drilling data. Additional validation and further assessments are required before finalizing the updated resource estimates.

Clean Air Metals announced the selection of BBA E&C Inc. as the prime engineering consultant for the Thunder Bay North Critical Minerals Project. BBA will lead the remaining Pre-Feasibility Study (PFS) work, focusing on mine design and carbon neutrality. The metallurgical optimization work continues with DRA Americas, expected to finish in Q1 2023, while a mineral resource update is set for Q2 2023. The company aims to complete the PFS by Q3 2023, leveraging a recent C$15 million investment to ensure financing for its environmentally sustainable mining operations.