Drill Campaign At The Escape And Current PGE-Cu-Ni Deposits

THUNDER BAY, ON - Clean Air Metals Inc. reported on the 2021 drill campaign from the Escape and Current PGE-Cu-Ni Deposits at the Company's Thunder Bay North Project near Thunder Bay, Ontario, Canada. Drilling operations are set to early this month. Hole ELR21-083A which intersected 46.0m grading 19.6 g/t PtEq1 composed of 3.03g/t Platinum (Pt), 3.94g/t Palladium (Pd), 1.33% Copper (Cu) and 0.51% Nickel (Ni) from 399.0-445.0m downhole including 31.0m grading 25.0 g/t PtEq composed of 3.90 g/t Platinum (Pt), 5.10g/t Palladium (Pd), 1.70% Copper (Cu) and 0.63% Nickel (Ni) from 405.0-436.0m downhole.

The Escape Deposit underwent 37,000m of expansion drilling in 2021, which is expected to add materially to the maiden Indicated resource of 849,481 ounces PtEq (6.16 g/t PtEq in 4.28 million tonnes). The Current Deposit 2.5km to the east has a well-defined Indicated mineral resource of 2,233,575 PtEq ounces (5.79 g/t PtEq in 11.99 million tonnes).

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. Platinum-equivalent1 calculations are affected by the updated CRU 2-year trailing average metal price assumptions utilized for the new Preliminary Economic Assessment reported in December.

Abraham Drost, CEO, said, "The "step-out drilling on the margins of the Escape South High Grade Zone (HGZ) continues to deliver impressive assay results. Under the results of the recent PEA press release, the Escape South High Grade Zone (HGZ) (>5g/t Pt+Pd) is identified as a high value potential mining area at the base of the Escape Deposit in years 5 and 6 of the PEA mine plan, pursuant to the recently delivered PEA information. There is a total of 37,000m of previously reported drilling results from the Escape Deposit in 2021 which not yet applied to the mineral resource for the Thunder Bay North Project. Assay results to date, along with the 2000m of core in the lab still awaiting assay, suggest good continuity of mineralization between sections along the 900m trend of mineralization between the Escape South High Grade Zone (HGZ) (>5g/t Pt+Pd) and Steepledge South Zone.

The high-grade Lower Current and Bridge Zones of the upper Current Deposit achieved a 90% conversion rate from Indicated to potentially mineable mineral resource for Years 1-4 within the recently disclosed PEA mine plan, as defined by a mining shape optimizer (MSO) algorithm. An additional 10,000m of infill drilling in the lower Current Deposit is planned to improve drill density to support application of the MSO algorithm along trend (Figure 2), in the attempt to add additional mineable material to the PEA. Up to 16,000m of drilling is also planned to commence in mid-January 2022 on frozen muskeg to follow up on certain discrete geophysical anomalies. These may represent the occurrence of low resistivity, high conductivity massive sulphide material at the base of the Escape and Current deposits within the Escape Lake Fault Zone corridor, consistent with the Norilsk mineral deposit model used by the Company in Thunder Bay North magma conduit system."