Mr. Mike Garbutt reports

CLEAN AIR METALS AND FIORE-BACKED SPRINGBOK VENTURES ANNOUNCE CONDITIONAL ACCEPTANCE OF PROPOSED TRANSACTION

By letter dated Oct. 9, 2026, the TSX Venture Exchange conditionally accepted the proposed acquisition of Springbok Ventures Inc. by Clean Air Metals Inc. pursuant to the amalgamation agreement dated July 31, 2026, among Clean Air Metals, Springbok and 1602037 B.C. Ltd. (Newco), a wholly owned subsidiary of Clean Air Metals. The proposed transaction is being reviewed under exchange Policy 5.3 -- Acquisitions and Dispositions of Non-Cash Assets.

The exchange's conditional acceptance is not final acceptance and does not assure completion of the proposed transaction. Completion remains subject to Clean Air Metals satisfying the exchange's customary conditions, obtaining final acceptance from the exchange and satisfying the other conditions precedent set forth in the amalgamation agreement, as amended.

First amendment to the amalgamation agreement

Clean Air Metals, Springbok and Newco have entered into a first amendment to the amalgamation agreement. The first amendment conforms the agreement to the exchange's reclassification of the proposed transaction from a reverse takeover under exchange Policy 5.2 -- Changes of Business and Reverse Takeovers to an acquisition of Springbok by Clean Air Metals under Policy 5.3. It replaces the former Policy 5.2 filing statement and reverse takeover concepts with the Policy 5.3 framework, Clean Air Metals' management information circular and related closing and escrow mechanics.

The core structure of the proposed transaction remains unchanged: the proposed transaction will be completed by a three-cornered amalgamation under the Business Corporations Act (British Columbia), with Springbok and Newco amalgamating and continuing as a wholly owned subsidiary of Clean Air Metals, and each Springbok shareholder, other than a dissenting shareholder, receiving 0.9 of a postconsolidation Clean Air Metals common share for each Springbok common share held. The proposed transaction also contemplates Clean Air Metals' continuance to British Columbia, a preclosing 10-for-one consolidation of Clean Air Metals' common shares, and a change of name to Dante Metals Corp.

The first amendment also reflects the concurrent financing completed by Clean Air Metals on Sept. 22, 2026, consisting of 10.05 million non-flow-through subscription receipts at 50 cents each and 2,090,909 flow-through subscription receipts at 55 cents each, for aggregate gross proceeds of $6,174,999.95. As detailed in the news release dated Sept. 22, 2026, upon satisfaction or waiver of the applicable escrow release conditions and delivery of the required escrow release notice before the applicable termination time, each subscription receipt will convert directly, without additional consideration or action by its holder, into one postconsolidation common share of the resulting issuer immediately before completion of the amalgamation. The first amendment further reflects Clean Air Metals' Oct. 9, 2026, non-brokered private placement of 2.5 million flow-through common shares at six cents per share for gross proceeds of $150,000, increasing Clean Air Metals' issued and outstanding common shares to 253,056,784 before the consolidation.

Meeting updates

Clean Air Metals' management information circular and related meeting materials for its annual general and special meeting of shareholders will be mailed to shareholders beginning on Oct. 19, 2026. Pursuant to its amended and restated notice of meeting filed on SEDAR+ on Oct. 13, 2026, the Clean Air Metals meeting will be held virtually on Nov. 13, 2026. Shareholders of Clean Air Metals should refer to Clean Air Metals' profile on SEDAR+ for the amended and restated notice of meeting and the Clean Air Metals meeting materials, including Clean Air Metals meeting access and voting and proxy instructions.

Springbok's management information circular and related meeting materials for its annual general and special meeting of shareholders will be mailed to shareholders beginning on Oct. 19, 2026. Pursuant to its amended and restated notice of meeting filed on SEDAR+ on Oct. 9, 2026, the Springbok meeting will be held in Vancouver, B.C., on Nov. 13, 2026. Shareholders of Springbok should refer to Springbok's profile on SEDAR+ for the amended and restated notice of meeting and the Springbok meeting materials, including Springbok meeting access and voting and proxy instructions.

Webinar for Clean Air Metals shareholders

Clean Air Metals invites its shareholders and other interested parties to participate in a webinar to be held on Wednesday, Oct. 21, 2026, at 4 p.m. ET, where Mike Garbutt, president and chief executive officer of Clean Air Metals, will provide an overview of the proposed transaction and answer-related questions.

Once registered, you will receive a confirmation e-mail containing the relevant login information.

About Springbok Ventures Inc.

Springbok Ventures is an unlisted reporting issuer mineral exploration company backed by the Fiore Group, a mine-building and investment group with a proven record of discovering, financing and developing successful mining companies globally. The Fiore team brings extensive experience across capital markets, exploration, mine development, operations and M&A, and its broader ecosystem includes West Red Lake Gold Mines, NexGold Mining, Nations Royalty, Selkirk Copper Mines, Cambria Gold Mines, Argenta Silver, Crossroads Gold and Pacific Ridge Exploration, among others. Springbok's principal asset is its interest in the Maude Lake property, located approximately 14 kilometres north of Schreiber, Ont., consisting of 95 contiguous mining claims covering approximately 2,017 hectares. The property hosts nickel-copper-platinum (PGE) sulphide mineralization associated with the historical Nicopor occurrence and has been the subject of extensive geological, geophysical and drilling programs that have identified multiple high-priority exploration targets with significant discovery potential.

About Clean Air Metals Inc.

Clean Air Metals is a development and exploration company advancing its flagship 100-per-cent-owned Thunder Bay North critical minerals project, 40 kilometres northeast of Thunder Bay, Ont., Canada (the TBN project). The TBN project, accessible by road and next to established infrastructure, hosts two deposits -- the Current and Escape deposits, only 2.5 km apart. Together, the deposits host a 14.9 Mt (million tonnes) indicated mineral resource grading 2.66 g/t (Pt plus Pd) (platinum plus palladium), 0.40 per cent Cu and 0.24 per cent Ni (NI 43-101 PEA technical report, Thunder Bay North project, Ontario, Canada, SLR Consulting Canada Ltd., Nov. 21, 2025) 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 long-standing relationships with local first nations. The TBN project has the potential to develop into a secure source of rare platinum metals, as well as other critical metals such as copper, nickel and cobalt, for the North American manufacturing sector. With its proven technical team, Clean Air Metals is committed to advancing the TBN project and creating long-term value for shareholders.

We seek Safe Harbor.