Clean Air Metals Files Interim Financial Statements for the Nine Months Ended October 31, 2025

Executive Summary

• Clean Air Metals filed its unaudited consolidated interim financial statements and MD&A for the nine‑month period ended October 31, 2025.
• The company reported a net loss of $895,835 for the quarter and $2.62 M for the nine‑month period, with cash of $1.64 M and a working‑capital deficiency of $1.75 M.
• Operational highlights include completion of initial drilling on a step‑out target 400 m from the known resource and the release of a Preliminary Economic Assessment (PEA) for Thunder Bay North, with the final PEA report expected in fiscal Q4.

Key Details

• Total assets (Oct 31 2025): $36,602,553
• Cash on hand (Oct 31 2025): $1,643,422
• Working‑capital deficiency: $1,746,454
• Shareholders’ equity: $33,030,843

Financial Performance – Three Months Ended Oct 31 2025

• Operating expenses: $358,282 (vs. $698,684 prior year)
• Net loss: $(306,303)
• Basic & diluted loss per share: $0.00

Financial Performance – Nine Months Ended Oct 31 2025

• Operating expenses: $1,111,055 (vs. $2,999,128 prior year)
• Net loss: $(895,835)

• Basic & diluted loss per share: $0.00

• Total liabilities (Oct 31 2025): $3,571,710 (down from $4,017,254)

Exploration & Development Activities

• Incurred $1,046,223 on exploration at the Thunder Bay North (TBN) project during the nine‑month period.
• Completed initial drilling of the first step‑out target within the Escape down‑plunge area; intersected mineralization 400 m from the known resource.
• Finished a Preliminary Economic Assessment (PEA) outlining a toll‑milling case and mine plan focused on higher‑margin material in the Current and Escape deposits.

Upcoming Milestones

• Final PEA report to be filed early in fiscal Q4 2025.

Notable Quotes

“Mike Garbutt, CEO of Clean Air Metals Inc.” – signatory on behalf of the Board of Directors. (No direct quote provided in the release.)