Clean Air Metals' Oct. 31 cash at $1.64-million

Executive Summary

• Clean Air Metals Inc. filed its unaudited consolidated interim financial statements and management discussion & analysis for the nine months ended October 31, 2025.
• The company reported total assets of $36.6M, cash reserves of $1.64M, and a working capital deficiency of $1.75M as of the period end.
• Operational updates include $1.05M in exploration spending at the TBN project, successful drilling of a stepout target 400m from the known resource, and the completion of a Preliminary Economic Assessment (PEA) outlining a toll-milling strategy.

Key Details

• Financial Position (as of Oct 31, 2025): Total assets of $36,602,553; total cash of $1,643,422; working capital deficiency of $1,746,454; shareholder equity of $33,030,843.
• Exploration Expenditure: Incurred $1,046,223 in exploration costs at the TBN project during the nine-month period.
• Drilling Update: Completed initial drilling of the first stepout exploration target within the Escape downplunge area, resulting in a mineralized intersection located 400 metres from the known resource.
• PEA Completion: Successfully completed a Preliminary Economic Assessment (PEA) for Thunder Bay North, which outlines a toll-milling case with a mine plan focused on higher-margin material in the Current and Escape deposits.
• Next Steps: The final PEA report is expected to be filed early in fiscal Q4.
• Project Context: The TBN project is a 100%-owned critical minerals development project in Ontario, hosting the Current and Escape deposits with a 13.8-million-tonne indicated mineral resource containing 2.4 million platinum equivalent ounces.