THUNDER BAY, ON, March 14, 2022 /CNW/ - 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.