Clean Air Metals closes non-brokered private placement

Thunder Bay, Ontario--(Newsfile Corp. - October 7, 2026) - Clean Air Metals Inc. (TSXV: AIR) (FSE: CKU) (OTC Pink: CLRMF) ("Clean Air Metals" or the "Company") is pleased to announce a non-brokered private placement of up to 2,500,000 flow-through common shares (the "FT Shares") at a price of C$0.06 per FT Share, to raise aggregate gross proceeds of up to C$150,000 (the "Offering"). The FT Shares will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act").

Proceeds from the Offering shall be used to advance development and exploration activities at the Company's Thunder Bay North Critical Minerals Project and other "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as such terms are defined in the Tax Act).

The Offering is expected to close on or about October 9, 2026 (the "Closing Date"), and is subject to approval by the TSX Venture Exchange (the "TSXV"). All securities issued pursuant to the Offering will be subject to a four (4) month plus a day hold period from the date of issuance in accordance with applicable securities legislation and policies of the TSXV.

Clean Air Metals CEO Mike Garbutt commented, "This financing will allow the company to secure appropriate contracted resources to advance exploration activities at Thunder Bay North in the new year, as we work towards a successful closing of the proposed transaction with Fiore-backed Springbok Ventures".

The securities issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or U.S. persons absent registration under the U.S. Securities Act and all applicable state securities laws or compliance with the requirements of an exemption therefrom. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Clean Air Metals

Clean Air Metals is a development and exploration company advancing its flagship 100% owned Thunder Bay North Critical Minerals Project, 40 km northeast of Thunder Bay, Ontario, Canada (the "TBN Project"). The TBN Project, accessible by road and next to established infrastructure, hosts two deposits - the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 14.9 Mt indicated mineral resource grading 2.66 g/t (Pt+Pd), 0.40% Cu and 0.24% Ni (NI 43-101 PEA Technical Report, Thunder Bay North Project, Ontario, Canada SLR Consulting Canada Ltd, November 21, 2025) with significant potential for expansion down-plunge.