Clean AIR Metals Exploring Strategic Alternatives

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CLEAN AIR METALS EXPLORING STRATEGIC ALTERNATIVES

Thunder Bay, ON - October 3, 2023 - Clean Air Metals Inc. ("Clean Air Metals" or the

"Company") (AIR: TSXV; CLRMF: OTCQB; CKU: DB) announces that it has formalized

a process to explore strategic alternatives to maximize the value of the C ompany's

common shares, including strategic funding, strategic partnerships or joint ventures, the

possible divestiture of all of the Company's outstanding common shares or other potential

transactions. As part of that process, the board of directors of the Company (the "Board")

has formed a special committee of the Board to review and advise on these strategic

alternatives. Paradigm Capital Inc. is providing financial advisory services to Clean Air

Metals in connection with this mandate.

There can be no assurance that the exploration of strategic alternatives will result in any

agreements or transactions and no timetable has been set for its completion . The

Company does not intend to disclose developments with respect to the exploration of

strategic alternatives unless and until its Board has approved a definitive agreement or

transaction or there are material developments to report.

About Clean Air Metals Inc.

Clean Air Metals' flagship asset is the 100% owned, high grade Thunder Bay North

Critical Minerals 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.

For further information, please contact:

Jim Gallagher

Interim Chief Executive Officer

Clean Air Metals Inc.

Phone: (705) 690-7997

Email: [email protected]

Website: www.cleanairmetals.ca

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

This press release may contain "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." Statements set out in this press release

relating to the review and availability of potential strategic opportunities for the

Company, the strategic review process and its intent to maximize shareholder

value, and planned future communication are forward-looking statements. There

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can be no assurance whether a transaction, strategic change or outcome will result

from or be implemented as a result of the strategic review process or whether the

strategic review will ultimately result in the maximizing of shareholder value. No

forward-looking statement can be guaranteed. Forward-looking statements in this

press release 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. 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.