Portugal Colonial - Clean Air Metals Drilling Confirms Down-Plunge Extension of the Escape Deposit

Assay highlights from hole EL25-001:

• 53 m of 0.52 g/t Pt, 0.69 g/t Pd, 0.26% Cu and 0.17% Ni(from 404 m downhole, including

  • 0.84 g/t Pt, 1.12 g/t Pd, 0.41% Cu and 021% Ni over 22 m from 411 m, and

  • 1.08 g/t Pt, 1.41 g/t Pd, 0.52% Cu and 0.24% Ni over 11 m from 430 m, and

The results from EL25-001 confirm that drilling successfully entered the mineralized conduit system that hosts the Escape Deposit and provides a clear pathway for resource expansion down-plunge.

Table 1. Assay results from the reported hole

Mike Garbutt, CEO of Clean Air Metals, remarked, "This intercept represents a step-change in our outlook for the Escape conduit system. Hitting PGE-Cu-Ni-rich sulphide mineralization beyond the known resource envelope validates our geophysical targeting strategy. I can't understate the potential impact that the continuation of the Escape-down-plunge can have on the scale and economics of this project".

Figure 1. Plan view and longitudinal sections of the Escape Deposit and Down-Plunge Target illustrating the mineralized intercepts in drill hole EL25-001 relative to the modelled extension of the known resource. Also shown are the locations of untested magnetic and conductive anomalies distributed along the 2.5-kilometre highly prospective mineralized conduit.

Escape Deposit Down-Plunge Extension Drilling

During the summer of 2025, the Company completed its first hole (EL25-001) within the projected down-plunge extension of the Escape Deposit. The modelled extension is largely based on 3D magnetic inversion data, which show that the Escape Deposit and the extension target are part of a single, sinuous to linear magnetic anomaly sourced from altered ultramafic rocks that host the Escape Deposit. The extension also features local conductivity anomalies (Figure 1) that are of immediate interest for drilling. Drillhole EL25-001 tested one of these coincident magnetic and conductivity anomalies and, more specifically, a "ballroom"-shaped coincident anomaly analogous to the high-grade ballroom structures recently intersected at the Current Deposit (see April 15, 2025, News Release).

The hole intersected disseminated PGE-Cu-Ni-rich magmatic sulphides (up to 5% in abundance) over a 53-metre-thick gabbro-to-peridotite sequence, confirming the presence of sulphide mineralization beyond the previously modelled resource envelope (Figure 1). A borehole electromagnetic (BHEM) survey completed after drilling detected a strong off-hole conductor in the lower part of the hole, providing a clear vector for subsequent follow-up drilling.

The results from EL25-001 confirm that drilling has successfully re-entered the same mineralized conduit that hosts the Escape Deposit, as demonstrated by comparable metal ratios, tenors, and lithological characteristics. This outcome is a major technical success and provides a clear pathway for resource expansion in the down-plunge extension target.

For reference, the Escape Deposit is a key contributor to the Thunder Bay North Project, accounting for approximately 40% of the total metal content within the estimated 14.9 million tonnes of Indicated Resources (see October 9, 2025, News Release). The High-Grade Zone (HGZ) at Escape, which contains 3.1 Mt grading 3.26 g/t Pd+Pt and 1.0% Cu+Ni, occupies roughly 400 metres of the 3.5-kilometre-long Escape conduit (Figure 1). The magnetic anomaly defining the Escape down-plunge target extends a further 2.5 kilometres, highlighting the strong potential to delineate additional mineral resources along the continuation of the Escape conduit.

Clean Air Metals' Vice President of Exploration, Lionnel Djon, commented, "The first hole drilled into the extension target at Escape was a tremendous success and unlocks a huge area for future, potential resource gains for the TBN project. We can now confidently move forward with plans to fully test the 2.5 km strike length of this highly prospective target, including systematic diamond drilling guided by new surface and borehole EM surveys. "

Potential Enhancement to Recent PEA Economics

The PEA outlined an 11-year mine life, producing 8.7M tonnes of mill feed at 2,500 tonnes per day from a near-surface, ramp-access underground operation, with production shipped off-site for toll-milling. As outlined in the October 9, 2025 News Release, the project boasts a C$219.4M pre-tax NPV₈ and IRR of 39%, which expands to C$316M NPV₈ and IRR of 52%, at October 8^th, spot prices The Escape portion of the mine plan contains roughly half of the mill feed contained in the study over 1km of strike distance. The prospect of extending the Escape conduit down plunge over a similar distance would significantly increase the operational life or lead to potential throughput increases.

Next step

Building on the success of hole EL25-001, the Company plans to complete an infill Magnetotelluric (MT) survey to better define the size and position of conductive zones potentially associated with local accumulations of PGE-rich sulphide mineralization within the Ballroom structures. The results of this survey will guide a series of follow-up drill holes and borehole EM surveys within the 2.5-kilometre-long extension target.

Upcoming Webinar

Clean Air Metals invites shareholders and other interested parties to participate in a webinar on Thursday, October 23, 2025, at 4:00 pm EST. Mike Garbutt, President and CEO, will provide an overview of the Company's latest developments, including the recently announced PEA and answer questions.

Click on the link below to register: https://us02web.zoom.us/webinar/register/WN_fYYGm9V8QfmGFAaD1f-ZOw

After registering, you will receive a confirmation email with details on how to join the webinar.

Qualified Person

Dr. Lionnel Djon, Ph.D., P.Geo., a Qualified Person under National Instrument 43-101 and Vice President of Exploration for the Company, has reviewed and approved all technical information in this press release.

About Clean Air Metals

Clean Air Metals is a development and exploration company advancing its flagship, 100% owned Thunder Bay North Critical Minerals ("TBN") project, 40 km northeast of Thunder Bay, Ontario. The TBN project, accessible by road and adjacent to established infrastructure, hosts two (2) deposits-the Current and Escape deposits, which are only 2.5 km apart. Together, the deposits host a 13.8 Mt indicated mineral resource containing 2.4M Pt eq. oz (Technical Report on the Thunder Bay North Project, Ontario, Canada, NI43-101, SLR Consulting Canada Ltd, June 19, 2023) with significant potential for expansion down-plunge.

Social Engagement

Clean Air Metals Inc. acknowledges that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850 and includes the territories of the 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 our area. 

The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, travelled, and gathered on the lands since time immemorial. Clean Air Metals is committed to stewarding Indigenous heritage and remains committed to building, fostering and encouraging a respectful relationship with First Nations, Métis and Inuit peoples based upon principles of mutual trust, respect, reciprocity and collaboration in the spirit of reconciliation.

ON BEHALF OF THE BOARD OF DIRECTORS

"Mike Garbutt"
Mike Garbutt, CEO of Clean Air Metals Inc.

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Visit www.cleanairmetals.ca for more information or contact:

Mia Boiridy

Director of Communications and Investor Relations
250-575-3305
[email protected]

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Cautionary Note

The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or, future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof, and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.

SOURCE: Clean Air Metals, Inc.

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