Metals & Mining News

Clean Air Metals Corporate Update and Virtual AGM Reminder


THUNDER BAY, ON, July 22, 2022 /CNW/ – Clean Air Metals Inc. (“Clean Air Metals” or the “Company“) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) wishes to remind its shareholders that its Annual General Meeting of shareholders (the “AGM”) will be held on July 27, 2022 at 9:00am ET. The AGM will be held virtually and will include a corporate update and Q&A session, following the formal business.

Registered shareholders and duly appointed proxyholders can attend the AGM online at http://momentum.adobeconnect.com/cleanair/ or via dial-in at (+1) 416-764-8646 (Local – Toronto) and (+1) 888-396-8049 (Toll Free – North America).

The timing and process for voting is described in detail in the Company’s information circular and meeting materials mailed to shareholders. The voting deadline is 9:00am ET on July 25, 2022. As described in the Company’s information circular, voting will not be available at the AGM and shareholders were encouraged to vote prior to the voting deadline.

The Company is also pleased to announce that as part of our commitment toward economic reconciliation with Indigenous communities, Clean Air Metals strives to include Indigenous owned vendors in technical, environmental and permitting work, whenever possible. To achieve this, an Implementation Committee consisting of members of all three partner First Nations; Fort William First Nation (FWFN), Biinjitiwaabik Zaaging Anishinaabek (BZA) and Red Rock Indian Band (RRIB) receives advance notification from the Company of upcoming contracts and advise of Indigenous owned businesses and suppliers that can meet Clean Air Metals requirements.  To this end, Clean Air Metals has retained the services of companies that have Indigenous ownership or partnerships: Englobe Corp (partnered with FWFN), Warrior Engineering/ North Rock Environmental (Indigenous owned), Oshki-Aki LP (FWFN owned), TBT Engineering (partnered with FWFN, RRIB and BZA) and Woodland Heritage archaeology services (Metis Nation of Ontario -affiliated Metis owned). These entities will complete various environmental, hydrogeological studies and survey work related to baseline data collection and future anticipated mine permit applications.  

Social Engagement

Clean Air Metals Inc. and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Critical Mineral 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, Métis and Inuit 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 Mineral 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. The Thunder Bay North Critical Mineral Project hosts the twin magma conduit bodies which host the Current and Escape deposits forming the basis for a robust preliminary economic assessment (PEA) filed January 12, 2002.  The PEA mine plan comprises of a ramp access underground mine and on-site 3600tpd milling complex and the 2-year trailing average price deck, features a pretax NPV of C$425m and an IRR of 31% on initial capital of $378m over a 10-year mine life.

Executive Chair Jim Gallagher and CEO Abraham Drost lead an experienced technical team who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development feasibility studies for a low-carbon, all-electric sustainable mining operation at Thunder Bay North. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December 2019, Jim Gallagher and team are credited with the mine turnaround and creation of significant value for shareholders.

ON BEHALF OF THE BOARD OF DIRECTORS

Abraham Drost

Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.

Website: www.cleanairmetals.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.



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