Clean Air Metals Files Audited Annual Financial Statements for the
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Clean Air Metals Files Audited
Annual Financial Statements for the
Year Ended January 31, 2025
Thunder Bay, ON, June 2, 2025 – Clean Air Metals Inc. (“Clean Air Metals” or the
“Company”) (TSX.V: AIR; FRA: CKU; OTCQB: CLRMF) announces that it has filed its
audited consolidated financial statements and management's discussion and analysis
for the year ended January 31, 2025, available for viewing on www.sedarplus.ca.
Financial Highlights
• Total assets as at January 31, 2025 of $37,908,937
• Total cash as at January 31, 2025 of $3,441,879
• Working capital as at January 31, 2025 of $184,611
• Shareholder’s equity as at January 31, 2025 of $33,891,683
Financial Summary
For the year ended
January 31,
2025
January 31,
2024
Operating Expenses $ 3,515,838 $ 3,930,784
Net Loss and Comprehensive
Loss
(3,124,992) (3,529,771)
Loss per share –
Basic and Diluted $ (0.01) $ (0.02)
Total Assets $ 37,908,937 $ 39,205,074
Total Liabilities 4,017,254 3,478,961
Total Shareholders’ Equity $ 33,891,683 $ 35,726,113
Full details of the financial reports and operating results for the year ended January 31,
2025 are described in the Company’s audited consolidated financial statements with
accompanying notes and related Management’s Discussion and Analysis, available on
SEDAR+ at www.sedarplus.ca.
The Company also announces that it has scheduled its 2025 Annual General Meeting
for July 29, 2025 at 1:30 pm ET, which will be held virtually. The Company will be issuing
the information circular with further details on July 2, 2025.
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Outlook for 2025
The Company is eager to build on the success of its 2024/2025 winter drilling programs.
In addition to identifying targets for the upcoming exploration program at the Thunder
Bay North Project, the team is currently incorporating the positive results from last year’s
exploration and drilling into a new Preliminary Economic Assessment (PEA) expected
to be released this fall. CEO Mike Garbutt comments, “Despite sustained industry
headwinds, our cash position allows us to move ahead and prudently advance the
project. The outlook for PGEs in the near to medium term is the most bullish it has been
in the last 3 years, and we look forward to taking advantage of this momentum.”
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 next to established
infrastructure, hosts two (2) deposits - the Current and Escape deposits, 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.
One of the rare primary platinum resources outside of South Africa, the TBN project is
in a stable and mining-friendly jurisdiction and benefits from longstanding relationships
with local First Nations. With its proven technical team, Clean Air Metals is committed
to growing the resources at the TBN project and creating long-term value for
shareholders.
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.
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ON BEHALF OF THE BOARD OF DIRECTORS
"Mike Garbutt"
Mike Garbutt, CEO of Clean Air Metals Inc.
Connect with us on X/ Facebook/ Instagram.
Visit www.cleanairmetals.ca for more information or contact:
Mia Boiridy
Director of Communications and Investor Relations
250-575-3305
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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
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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.