Clean Air Metals and Fiore-Backed Springbok Ventures Announce Strategic Business Combination

Clean Air Metals Inc. (TSXV: AIR) (FSE: CKU) (OTCQB: CLRMF) ("Clean Air Metals"), 1602037 B.C. Ltd. ("Newco"), a wholly owned subsidiary of Clean Air Metals, and Springbok Ventures Inc., an unlisted reporting issuer ("Springbok"), are pleased to announce that they have entered into an amalgamation agreement dated July 31, 2026 (the "Amalgamation Agreement") to complete a business combination (the "Proposed Transaction") that will create a well-capitalized critical minerals company (the "Resulting Issuer") focused on advancing Clean Air Metals' flagship Thunder Bay North Critical Minerals Project (the "TBN Project") in northwestern Ontario, Canada, as well as continuing exploration efforts with Springbok's Maude Lake Property ("Maude Lake") located in northwestern Ontario, Canada.

The Resulting Issuer will carry on the business of Clean Air Metals. The Proposed Transaction, including the Concurrent Offering (defined below), is subject to the customary closing conditions, including the approval of the TSX Venture Exchange ("TSXV") and the requisite approvals of the shareholders of each of Clean Air Metals and Springbok.

The Proposed Transaction represents a strategic partnership with the Fiore Group, one of Canada's leading mine-building organizations with an established track record of discovering, financing, developing and creating shareholder value through publicly listed mining companies.

The Fiore Group is led by a team of highly experienced mining entrepreneurs and executives with a proven history of creating shareholder value through project discovery, development, financing and corporate transactions. Companies within the broader Fiore ecosystem include Cambria Gold Mines, Selkirk Copper Mines, Nations Royalty, NexGold, Argenta Silver, SEVA Mining, Crossroads Gold, Copper Giant, Oceanic Iron Ore and Pacific Ridge Exploration.

Mike Garbutt, President and CEO of Clean Air Metals, commented, "Following a difficult period in the market for PGM explorers, the Company has been making a concerted effort for over a year to identify strategic opportunities to advance the TBN Project. The Proposed Transaction now serves as a critical milestone in the advancement of the Thunder Bay North Project. It provides an immediate strengthening of our balance sheet and is a launch point to execute on a strategy to become a leading PGM-Cu exploration and development company. We look forward to having Fiore Group as a strategic partner, which will bring market visibility and credibility with extensive institutional relationships for improved access to capital."

Ryan Weymark, Partner of the Fiore Group and Advisor to Springbok, commented, "We have been highly impressed with the quality of the Thunder Bay North Project and the work completed by the Clean Air Metals team. Platinum group metals, together with copper and nickel, are becoming increasingly important strategic metals, and we believe the Thunder Bay North Project has the potential to become one of Canada's premier critical minerals development assets. Our objective extends beyond financing a single project-we intend to build a leading Canadian critical minerals company through disciplined project advancement, responsible community partnerships and strategic gro...