Clean Air Metals Files Interim Financial Statements for the Six Months Ended July 31, 2025

Executive Summary

• Clean Air Metals filed its unaudited six‑month financial statements for the period ended July 31, 2025, showing a net loss of $589,533 and a working‑capital deficiency of $1.02 M.
• Cash on hand decreased to $2.48 M, while total assets fell slightly to $36.95 M; shareholders’ equity remained near $33.34 M.
• The company continued exploration at the Thunder Bay North (TBN) project, incurring $620,396 in exploration costs and initiating a drill program with assay results expected in Q3 2025, alongside work on a Preliminary Economic Assessment (PEA).

Key Details

• Financial Position (July 31, 2025):
• Total assets: $36,946,848 (down from $37,908,937 YoY)
• Cash: $2,479,746 (down from prior period)
• Working‑capital deficiency: $(1,017,202)

• Shareholders’ equity: $33,337,146 (slightly down YoY)

• Operating Results (Six months ended July 31, 2025):

• Operating expenses: $752,774 (vs. $2,300,444 in the prior year)
• Net loss: $(589,533) (vs. $(2,289,228) YoY)

• Basic & diluted loss per share: $0.00

• Exploration Activity:

• Exploration cost incurred: $620,396 for the TBN project.
• Management focused on development of targets at the Escape Deposit down‑plunge and launched a drill program to test the first target.

• Assay results from the maiden hole are expected mid‑Q3 2025.

• Preliminary Economic Assessment (PEA):

• Commenced work on a PEA for Thunder Bay North, targeting a toll‑milling case with higher‑margin material from Current and Escape deposits.

• Expected completion: within fiscal Q3 2025.

• Other Metrics:

• Total liabilities as of July 31, 2025: $3,609,702 (down from $4,017,254 YoY).

Notable Quotes

“Our focus remains on advancing the Thunder Bay North project through disciplined exploration and the development of a robust economic assessment,” – Mike Garbutt, CEO.