Clean Air Metals Completes Strategic Merger with Springbok to Accelerate PGM‑Cu Projects

Clean Air Metals Inc. Announces Strategic Business Combination with Springbok Ventures

Clean Air Metals Inc. (TSXV: AIR) announced that it will complete a business combination with Springbok Ventures Inc., a company backed by the Fiore Group. The transaction is expected to create a well‑capitalized critical‑minerals platform focused on the Thunder Bay North Critical Minerals Project (TBN Project) in northwestern Ontario and will also incorporate Springbok’s Maude Lake property as an exploration asset.

Transaction Details

• Amalgamation Agreement: Signed on 31 July 2026, the agreement sets the terms for the proposed combination and a concurrent offering of shares.
• Resulting Issuer: The combined entity will carry on the business of Clean Air Metals and will be the platform for advancing the TBN Project and future critical‑minerals development.
• Capital Structure: The deal includes a minimum concurrent financing of CAD 5 million through subscription receipts.
• Strategic Partnership: The Fiore Group, a leading Canadian mining group, will partner with Clean Air Metals to strengthen market visibility, access to capital, and institutional relationships.

Impact on Projects

• Thunder Bay North Project: The combination will accelerate development of Clean Air Metals’ flagship platinum‑gold‑molybdenum‑copper (PGM‑Cu) project in the Thunder Bay region.
• Maude Lake Property: Springbok’s Maude Lake exploration asset in northwestern Ontario will be added to the combined company’s portfolio, broadening the range of critical‑mineral opportunities.

Management Commentary

Mike Garbutt, President and CEO of Clean Air Metals, stated that the transaction is a critical milestone after a challenging period for PGM explorers. He emphasized the immediate strengthening of the balance sheet and the strategic launch toward becoming a leading PGM‑Cu exploration and development company.

Ryan Weymark, Partner of the Fiore Group, highlighted the Fiore Group’s experience in discovering, developing, and financing mining projects, noting that the partnership will bring credibility and improved access to capital.

Regulatory and Shareholder Approvals

The proposed transaction is subject to customary closing conditions, including approval by the TSX Venture Exchange and the shareholders of both Clean Air Metals and Springbok Ventures.

Financial Snapshot (as of 30 July 2026)

The announcement reflects a strategic effort to position Clean Air Metals as a growth‑oriented critical‑minerals company within Canada, with an enhanced capital base and expanded exploration portfolio.