Clean Air Metals closed the period with total assets of $35.5 million and continued advancing in the Thunder Bay North critical minerals project, while finalizing the proposed operation announced in July
Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV:AIR)(FRA:CKU)(OTC PINK:CLRMF) announces that it has filed its unaudited consolidated interim financial statements and the corresponding management discussion and analysis for the six-month period ended July 31, 2026, available for consultation at www.sedarplus.ca.
Highlighted financial aspects
Total assets as of July 31, 2026, of $35,465,204.
Total cash as of July 31, 2026, of $422,500.
Working capital deficit as of July 31, 2026, of $3,188,114.
Shareholders' equity as of July 31, 2026, of $31,803,864.
During the six-month period ended July 31, 2026, the Company incurred costs of $164,309 for exploration activities in the Thunder Bay North project. During the second fiscal quarter, the Company focused on finalizing the proposed merger, while continuing discussions on Advanced Exploration permits and the reevaluation of previous geophysical work to identify priority areas for drilling and geophysical work in the depth extension of Escape following the operation. The Company also received during the second quarter a grant of $57,000 as part of the Critical Minerals Innovation Fund to support the metallurgical assessment of processing through custom milling.
Financial summary
The complete details of the financial reports and operational results for the six-month period ended July 31, 2026, are described in the Company's unaudited consolidated interim financial statements, along with its accompanying notes and the corresponding Management Discussion and Analysis, available on SEDAR+ at www.sedarplus.ca.
The Company is finalizing the documentation for shareholders regarding the proposed operation detailed in the press release of July 31, 2026, and will communicate the date of the annual and special shareholders' meeting once such documentation is finalized.
About Clean Air Metals
Clean Air Metals is a development and exploration company advancing its flagship Critical Minerals project Thunder Bay North ("TBN"), of which it owns 100% and is located 40 km northeast of Thunder Bay, Ontario. The TBN project, road-accessible and situated next to existing infrastructure, hosts two (2) deposits —the Current and Escape deposits— separated by only 2.5 km. Together, the deposits host an indicated mineral resource of 14.9 Mt with grades of 2.66 g/t (Pt+Pd), 0.40% Cu, and 0.24% Ni (Technical Report PEA NI 43-101, Thunder Bay North Project, Ontario, Canada, SLR Consulting Canada Ltd., November 21, 2025), with significant potential for expansion at depth.
The TBN project, one of the few primary platinum resources outside South Africa, is located in a stable and mining-friendly jurisdiction and benefits from long-standing relationships with local First Nations. With its experienced technical team, Clean Air Metals is committed to growing the resources of the TBN project and creating long-term value for shareholders.
Social Commitment
Clean Air Metals Inc. recognizes that the Thunder Bay North Critical Minerals Project is located within the area covered by the Robinson-Superior Treaty of 1850 and includes the territories of Fort William First Nation, Red Rock Indian Band, Biinjitiwabik Zaaging Anishinabek, and Kiashke Zaaging Anishinaabek. Clean Air Metals also acknowledges the contributions of the Métis Nation of Ontario, Region 2 and the Red Sky Métis Independent Nation to the rich history of the region.
The Company appreciates the opportunity to work in these territories and maintains its commitment to recognizing and respecting those who have lived, traveled, and gathered on these lands since time immemorial. Clean Air Metals is committed to protecting Indigenous heritage and continues to be dedicated to creating, fostering, and promoting a respectful relationship with First Nations, Métis, and Inuit peoples, based on the principles of mutual trust, respect, reciprocity, and collaboration, in a spirit of reconciliation.
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Cautionary Note
The information contained in this document includes "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements refer to information based on management assumptions, forecasts of future results, and estimates of amounts that cannot yet be determined. Any statement that expresses predictions, expectations, beliefs, plans, projections, objectives, assumptions, or future events or results does not constitute a statement of historical facts and may be considered a "forward-looking statement."