Zürcher Nachrichten - Clean Air Metals to Drill the Escape Deposit Down-Plunge Target

Escape Deposit Down-Plunge Extension Target

The Escape Deposit ("Escape") is a key contributor to the Thunder Bay North ("TBN") Project, representing approximately 40% of the total metal content of the estimated 14 million tonnes of indicated resources (NI 43-101 technical report on the Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd, June 19, 2023) containing 2.4 million equivalent ounces of platinum.

The Escape down-plunge extension target (Figure 1) is believed to have the best potential for a major resource expansion within the Thunder Bay North project. The Company has been working on improving the target definition in this area since 2023, starting with the identification of a large untested magnetic anomaly that extends from the known Escape high-grade zone to a distance of 2.5 km (see August 29, 2023, News Release).

Figure 1. Airborne total magnetic intensity map with wireframes of Escape and Current conduits as determined from drilling. The Escape grid with seismic sensors is shown in white.

In the spring of 2025, the Company engaged an expert in Magnetotelluric (MT) geophysical surveys to reassess historical MT data for the extension target. The assessment identified three coincident magnetic and EM anomalies (Figure 2) that have strongly similar characteristics to the recently drill-confirmed high-grade 'ballroom' mineralization at the Current Deposit (see October 3, 2024 and April 15, 2025 News Releases). It also clearly identified the known mineralization at the Escape High-Grade zone, which provides additional confidence in these three targets.

Figure 2. Location of newly identified 'ballroom-type' coincident magnetic and conductivity anomalies within the modelled down-plunge extension of the Escape Deposit.

The initial drill hole and borehole EM survey is planned to test target BH 25-01 (Figure 3). This target coincides with the borehole EM anomalies identified from historical drill holes in this area. In addition, it lies ~300 metres to the east of the easternmost, drill-defined extent of the Escape Deposit that hosts the Escape High-Grade Zone. Highlights of the high-grade results disclosed in the October 29, 2020, News Release include:

• 96.0 m grading 1.63 g/t Pd, 1.22g/t Pt, 0.61% Cu and 0.34% Ni from 326.8 m downhole in hole ELR20-008, including 18.0 m of 3.20g/t Pd, 2.29g/t Pt, 1.17% Cu and 0.76% Ni from 391.8 m.

Figure 3. Traversal MT 2D sectionoutlining Target BH 25-01.

Clean Air Metals' Vice President of Exploration, Lionnel Djon, commented. "The new geophysical assessments have delivered very appealing 'ballroom-type' drill targets in the Escape down-plunge extension area. We are excited to begin drill testing these targets that collectively represent the best opportunity for a significant expansion of the high-grade Thunder Bay North Pt-Pd-Cu-Ni sulphide mineralization."

Update on Advancing the Thunder Bay North Project

The Company continues to work on a Preliminary Economic Assessment on the Thunder Bay North Project. This study is driven in part by the successful drilling programs in 2024 and early 2025, which expanded high-grade ballrooms at the Current Deposit, and provides confidence in the development of a robust, higher-grade production model that improves toll milling potential. The company has also increased activity on baseline environmental monitoring at the site, which will be critical to obtaining a permit for advanced exploration.

Mike Garbutt, CEO of Clean Air Metals, remarked, "The identification of geophysically-constrained drill-ready targets in the Escape down-plunge extension is an important breakthrough for the Company and gives us a tangible path forward to expanding the highest-grade components of the existing TBN global mineral resource. At a time that the broader market has realized the investment appeal of the PGEs, reflected in the recent appreciation in both platinum and palladium prices, we are excited to continue exploration for high-grade mineralization at Escape and to commence work on a new PEA study focusing on the higher-grade parts of both the Escape and Current deposits."

Upcoming 2025 AGM

Clean Air Metals will hold its 2025 Annual General Meeting on July 29, 2025, at 1:30 p.m. EDT virtually at http://momentum.adobeconnect.com/cleanairagm2025/. Shareholders are encouraged to register their vote by Friday, July 25, 2025, at 1:30 p.m. EDT. The information circular, proxy forms and voting instructions can be found on the Company's website at Annual General Meeting | Clean Air Metals Inc.

Qualified Person

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

About Clean Air Metals

Clean Air Metals is a development and exploration company advancing its flagship, 100% owned Thunder Bay North Critical Minerals ("TBN") project, 40 km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and next to established infrastructure, hosts two (2) deposits - the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 13.8 Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario, Canada, NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for expansion down-plunge.

One of the rare primary platinum resources outside of South Africa, the TBN project is in a stable and mining-friendly jurisdiction and benefits from longstanding relationships with local First Nations. With its proven technical team, Clean Air Metals is committed to growing the resources at the TBN project and creating long-term value for shareholders.

Social Engagement

Clean Air Metals Inc. acknowledges 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, travelled, 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.

ON BEHALF OF THE BOARD OF DIRECTORS

"Mike Garbutt"

Mike Garbutt, CEO of Clean Air Metals Inc.

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Visit www.cleanairmetals.ca for more information or contact:

Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
[email protected]

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Cautionary Note

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or, future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

SOURCE: Clean Air Metals, Inc.

View the original press release on ACCESS Newswire

J.Hasler--NZN