THUNDER BAY, ON, March 14, 2022 /PRNewswire/ - Clean Air Metals Inc. ("Clean Air Metals" or the "Company") (TSXV: AIR) (OTCQB: CLRMF) (FRA: CKU) is pleased to announce the appointment of Mr. Kris Tuuttila as Director of Sustainability, Permitting and Community Relations for the Company. In addition, Dr. Geoff Heggie has been promoted to VP-Exploration for the Company.
The Company has also initiated a search for a Chief Operating Officer (COO) who will lead the technical studies to advance the Thunder Bay North project towards execution. Immediate priorities will include pre-feasibility level metallurgical optimization and investigate options to achieve net zero emissions related to the onset of feasibility studies at its platinum, palladium, copper, nickel Thunder Bay North Project, Ontario, Canada. The project is described at https://cleanairmetals.ca/projects/thunder-bay-north/, pursuant to the Preliminary Economic Assessment (PEA) technical report recently published to SEDAR (press release December 1, 2021; January 12, 2022).
The Company recently published its "Clean Air Metals Inc. – 2021 ESG Report" (press release January 27, 2022) which is available on the Clean Air Metals' website at https://cleanairmetals.ca/esg/esg-report/. The publication of the ESG report is tied to the Company's goal of transparency and continuous improvement in Health and Safety, Environment, Community and development of Human Resources as articulated in its Sustainability Policy at https://cleanairmetals.ca/site/assets/files/5703/cam_sustainability_policy_rev01_mar01_2021_1.pdf).
The Company presently has two diamond drills operating at the Thunder Bay North Project focused on increasing drill density within the PEA mine plan in preparation for feasibility studies and large-diameter drill bulk sampling year by year within the proposed PEA mine plan in preparation for metallurgical optimization. A third drill will be mobilized to more remote greenfields exploration sites outside the mine plan area in the search for the source of high-grade massive sulphide intercepts identified in the system (press release July 6, 2021).
Biographies of Appointees
Mr. Kris Tuuttila, B.Sc., P.Geo. (Limited) brings 19 years of management experience in environmental consulting for projects across Canada. He has directed multidisciplinary environmental projects and impact assessments relating to various stages of mine development in northern Ontario, including at the Lac des Iles palladium mine 60km northwest of the Thunder Bay North Project. Kris has developed meaningful relationships with various Indigenous communities of northwestern Ontario and has been instrumental in signing several partnership agreements to provide economic and training benefits to area First Nation communities.
Dr. Geoff Heggie, P.Geo. worked on the Thunder Bay North Project previously for 7 years. He earned his BSc in Geology at the University of Saskatchewan, his MSc at Lakehead University and his PhD at the University of Western Australia. Geoff is an expert in ultramafic/mafic hosted Ni-Cu-PGE deposits and on Mid-Continent Rift geology in North America. Geoff joined Clean Air Metals team as Exploration Manager. Previously as Senior Geologist at Noront, Geoff was involved with systematic integration of geology and geophysics by the Noront team resulting in the discovery of the McFaulds No. 8 VMS lenses of the Nikka deposit.
The Company also announces the resignation of Ms. Dawn Lamswood, M.Sc., P.Geo. from the position of VP-Exploration. Ms. Lamswood will continue as Senior Geological Consultant to the Company working closely with Dr. Heggie.
Under the Company's approved Equity Incentive Plan, Officers and Directors of the Company have been granted 1,148,999 Restricted Share Units (RSU's), and 1,400,000 long term incentive (LTI) share Options for 5 years at an exercise price of C$0.30. Total outstanding securities granted under the Equity Incentive Plan for all personnel now stands at 6.49% of issued and outstanding shares.
Clean Air Metals CEO Abraham Drost, stated that: "following the Company's recent $12.5 million financing, these executive appointments signal the Company's commitment to sustainable mine development at the Thunder Bay North Project. The project features a rare combination of peer-leading platinum, palladium, copper and nickel grades, proximity to infrastructure and skilled workforce and relatively low initial capital intensity.
The Company and its First Nation partners at the Fort William First Nation, the Red Rock Indian Band and the Biinjitiwaabik Zaaging Anishinaabek have an unparalleled opportunity for regional economic development at Thunder Bay North (press release January 11 and 28, 2021).
We also extend our best wishes to Dawn Lamswood and wish her all success personally and professionally as she continues to work closely with the Company and other clients. Dawn has made a solid contribution to the startup of the Company which is very much appreciated."
About Clean Air Metals Inc.
Clean Air Metals' flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the City of Thunder Bay, Ontario and the Lac des Iles Mine owned by Impala Platinum. The Thunder Bay North Project hosts twin magma conduit bodies hosting the Current and Escape deposits, forming the basis for a positive preliminary economic assessment (PEA) around a ramp access underground mine effective December 1, 2021.
Executive Chair Jim Gallagher and CEO Abraham Drost lead an experienced team of geologists and engineers who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development studies at Thunder Bay North. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in December 2019, Jim Gallagher and team are credited with the Lac des Iles mine turnaround story and creation of significant value for shareholders.
Social Engagement
Clean Air Metals Inc. and its wholly-owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Project is on the traditional territories of the Fort William First Nation, Red Rock First Nation and Biinjitiwabik Zaaging Anishinabek. The parties together are the Cooperating Participants in a Memorandum of Agreement dated January 9, 2021.
The Company appreciates the opportunity to work in these territories and remains committed to the recognition and respect of those who have lived, traveled, 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
"Abraham Drost"
Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation, including statements regarding the potential of the Thunder Bay North Project and the Escape and Current deposits and timing of technical studies (include feasibility studies) and mineral resource estimates. 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 projection
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SOURCE Clean Air Metals Inc.
