Clean Air Metals reports new Assays from Escape Deposit and commences additional 15,000m drill program to target Norilsk-style Massive Sulfides

THUNDER BAY, ON, April 19, 2021

Highlights (Table 1) include:

• Hole ELR20-041 intersected 0.3m of 8.17/t Palladium (Pd), 8.34g/t Platinum (Pt), 7.15% Copper (Cu) and 0.30% Nickel (Ni) from 341.5m – 341.8m downhole located in the Escape Lake Deposit area 350m north of the centroid of the Escape South High Grade Zone.
  
  
• Hole ELR21-037 intersected 9.0m of 1.47g/t Palladium (Pd), 1.28g/t Platinum (Pt), 0.61% Copper (Cu) and 0.27% Nickel (Ni) from 373.0m – 382.0m downhole located between the Escape South High Grade Zone and the Steepledge North Zone.
  
  
• Hole ELR21-043 intersected 9.0m of 1.37g/t Palladium (Pd), 1.14g/t Platinum (Pt), 0.52% Copper (Cu) and 0.36% Nickel (Ni) from 317.0m – 326.1m downhole located between the Escape South High Grade Zone and the Steepledge North Zone.

The recent discovery of a high-grade massive sulphide lens in the Escape Lake Deposit (Figure 2) and similar material previously discovered in the Current Lake Deposit (Figure 3) are considered to be transported material and exploration vectors to a potential larger source area. A third drill and local crew has now mobilized to the project site and has commenced drilling on the first of six high priority massive sulphide targets on the Thunder Bay North Property (Figure 4). The targets are high conductivity geophysical features identified in basal structural and stratigraphic locations with high potential to host massive sulphide mineralization (Figure 1).  A total of 15,000m in 25-30 holes has now been allocated to testing of the initial six massive sulphide target areas.

The fertility of the Escape Lake magma conduit deposit is well illustrated by the recent mineral resource update, reported on January 20, 2021. The Escape Lake Deposit has an overall Indicated mineral resource of 505,369 ounces at 3.67g/t PdEq in 4,286,220 tonnes and is geologically open along trend. The Current Lake Deposit in turn has an Indicated mineral resource of 1,328,789 oz PdEq at an average grade of 3.44 g/t PdEq in 11,999,177 tonnes (pursuant to the January 20, 2021 NI 43-101 Technical Report and Mineral Resource Estimate for the Thunder Bay North Project, Thunder Bay, Ontario, prepared by Nordmin Engineering Ltd. with QP Glen Kuntz, P.Geo, as posted to SEDAR on March 4, 2021).

Abraham Drost, CEO of Clean Air Metals stated that "the Company confirms the high-level similarities of the magma conduit chonolith system and structural and stratigraphic controls on mineralization at Thunder Bay North with the Talnakh complex, one of the world's foremost Nickel-Copper-PGM mining camps. Based on the recent resource update and discovery of massive sulphides in the Escape Lake Deposit with favorable metal ratios and the recent completion of a structural analysis and MT geophysical surveys, we are committing to a substantial ramp up of our drilling exploration efforts on multiple bullseye ultra-low resistivity targets at the base of both the Escape Lake and Current Lake magma conduit deposit systems."

Table 1: New Assay Results Update – Escape Lake Zone, Thunder Bay North