THUNDER BAY - Clean Air Metals Inc. ('Clean Air Metals' or the 'Company') (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) announces that it has filed its unaudited consolidated interim financial statements and management's discussion and analysis for the nine-month period ended October 31, 2022, available for viewing on www.sedar.com.

Financial Highlights

Total assets as at October 31, 2022 of $42,279,897

Total cash as at October 31, 2022 of $903,741

Working capital deficiency as at October 31, 2022 of $472,891

Shareholder's equity as at October 31, 2022 of $40,281,883

During the three-month period ended October 31, 2022 as previously reported, the Company:

Completed a total of 11 holes on the Current Deposit for a cumulative total of 2,564m of drilling.

Continued prefeasibility studies and environmental baseline studies for the Thunder Bay North Critical

Minerals Project under the supervision of Mr. Mike Garbutt, P.Eng. MBA, Chief Operating Officer and Mr. Kris

Tuuttila, Director of Permitting, Sustainability and Community Relations.

Appointed SLR Consulting Limited ('SLR') to provide external validation of an internal mineral resource update of the Escape Deposit, including the addition of 55,651m of previously reported 2021/22 drilling results.

Full details of the financial reports and operating results for the nine-month period ended October 31, 2022 are described in the Company's unaudited consolidated interim financial statements with accompanying notes and related Management's Discussion and Analysis, available on SEDAR at www.sedar.com.

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 the twin magma conduit bodies which host the Current and Escape deposits forming the basis for a robust preliminary economic assessment PEA) filed January 12, 2022. The PEA of a ramp access underground mine and on-site 3600tpd milling complex and the 2-year trailing average price deck, features a pretax NPV5 of C$425m and an IRR of 31% on initial capital of $378m over a 10-year mine life. Executive Chair Jim Gallagher and CEO Abraham Drost lead an experienced technical team who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development and prefeasibility technical studies for a low-carbon, all-electric sustainable mining operation 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 mine turnaround and creation of significant value for shareholders.

ON BEHALF OF THE BOARD OF DIRECTORS

'Abraham Drost' Abraham Drost, Chief Executive Officer of Clean Air Metals Inc.

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.

Contact:

Abraham Drost

Chief Executive Officer

Clean Air Metals Inc.

T: 807-252- 7800

Email: adrost@cleanairmetals.ca

Website: www.cleanairmetals.ca

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