Clean Air Metals Inc. announced it has received approval from the Ontario Ministry of Mines for its 3-year exploration permit as submitted in May 2023. The permit covers the down plunge extension to the south-east of the Escape deposit as has previously been communicated but also covers other areas of interest for future potential drilling and geophysical work within the Company's Thunder Bay North Critical Minerals Project near Thunder Bay, Ontario, Canada (the "Project"). The Thunder Bay North critical Minerals Project hosts an indicated mineral resource of 13.8Mt containing 1.2M ounces of 2PGE (Pt+Pd), 56,800 tonnes of Cu and 33,800 tonnes of Ni between the twin magmatic intrusions (chonoliths) known as the Current and Escape deposits.

Both deposits remain open and largely unexplored below 500 metres in depth. In addition to the down plunge potential of the Escape Deposit, as outlined in the press release of August 29, 2023, this permit also includes proposed work to continue testing the Current chonolith down plunge, continued exploration of untested magnetotelluric (MT) anomalies associated with emplacement controlling structures of the Escape and Quetico faults and the capacity to undertake infill drilling for conversion of inferred to indicated mineral resources as required, in both the Escape and Current deposits. The Strategic Alternatives process announced by the Company on October 3, 2023, is fully in progress.

The Company does not expect to have any material information to report on this process until early in the new year. It is a rare Platinum, Palladium asset outside of South Africa and Russia. The Project is in a stable jurisdiction and is close to all necessary infrastructure.

The Project has 4 critical metals and the price for these metals is projected to rebound, perhaps dramatically given the imbalance between green energy demand and the current investment levels in mining. The Company is taking further steps to reduce costs. The Company's valuation is unrealistically low.

The process is well underway, and the Company does not expect any issues with the application.