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Clean Air Metals Drill Results from the Escape Deposit Steepledge extension includes 15.0m averaging 1.73 g/t Pt, 1.92 g/t Pd, 0.70% Cu, 0.30% Ni

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PR Newswire

THUNDER BAY, ON, March 31, 2022

THUNDER BAY, ON, March 31, 2022 /PRNewswire/ -- Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) is pleased to announce new assay results from the 2022 drill campaign from the Escape PGE-Cu-Ni Deposit at the Company's Thunder Bay North Project near Thunder Bay, Ontario, Canada (the "Project").

New assays from the Escape Deposit Steepledge extension includes (Table 1):

  • Hole ELR22-115 which intersected 15.0m grading 1.73g/t Platinum (Pt), 1.92g/t Palladium (Pd), 0.70% Copper (Cu) and 0.30% Nickel (Ni) from 237.5m-252.5m downhole including 2.8m grading 2.86 g/t Platinum (Pt), 3.05g/t Palladium (Pd), 1.18% Copper (Cu) and 0.38% Nickel (Ni) from 246.40-249.18m downhole (Figure 1).

The Escape Deposit also underwent an additional 37,000m of expansion drilling in 2021, which has established continuity between the Escape South High Grade Zone and the Steepledge Extension and may add materially to the Thunder Bay North Project Indicated mineral resource (effective November 1, 2021) of 14,553,324 million tonnes grading 8.12 g/t platinum-equivalents (PtEq) (reported December 1, 2021).

Mineral resource endowment and platinum-equivalents are quoted pursuant to the Technical Report and Mineral Resource Estimate for the Thunder Bay North Project, Thunder Bay, Ontario, with an effective date of January 20, 2021 (the "Technical Report"). The Technical Report was posted to SEDAR March 4, 2021 and prepared by Nordmin Engineering Ltd., QP Glen Kuntz, P.Geo. Ontario. Nordmin as QP utilized 2-year trailing average metal price assumptions[1] for an updated mineral resource effective November 1, 2021, as a basis for the Preliminary Economic Assessment reported on December 1, 2021 and filed January 12, 2022.

Preliminary Economic Assessment (PEA)

The Company announced a comprehensive mine plan and cashflow model for both the Escape Deposit and Current Deposit as part of a PEA for the Current and Escape PGE-Cu-Ni Deposits of the Thunder Bay North Project on December 1, 2021. The related Technical Report was filed on SEDAR on January 12, 2022 https://cleanairmetals.ca/site/assets/files/5750/21015-01-pfs-0000_ni_43_101_pea_12jan2022.pdf

__________________________________


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1

CRU 2-year metal price assumptions can be viewed in the following Link (Click Here)

Table 1: New Insitu Assay Results Update – Escape Deposit Steepledge Extension (Figure 1)

Hole ID

Company

From, m

To, m

Length, m

Pt+Pd (g/t)

Cu+Ni (%)

Pt (g/t)

Pd (g/t)

Cu (%)

Ni
(%)

ELR21-106

AIR

273.6

276.4

2.8

1.52

0.59

0.73

0.79

0.37

0.22

ELR22-110

AIR

177

180

3.0

1.23

0.36

0.58

0.64

0.21

0.15

ELR22-112

AIR

212

214

2.0

1.01

0.31

0.47

0.54

0.17

0.14

ELR22-112

AIR

225.6

229.5

3.9

2.01

0.53

0.93

1.09

0.34

0.20

ELR22-113

AIR

223

236

13.0

2.37

0.58

1.11

1.25

0.39

0.19

 **incl.

228

230

2.0

5.07

1.05

2.44

2.63

0.79

0.26

ELR22-114

AIR

184.3

187.15

2.8

2.54

0.17

1.17

1.37

0.09

0.08

ELR22-115

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