{"id":404303,"date":"2020-12-22T07:18:26","date_gmt":"2020-12-22T12:18:26","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404303"},"modified":"2020-12-22T07:18:26","modified_gmt":"2020-12-22T12:18:26","slug":"clean-air-metals-files-third-quarter-2020-financial-statements","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/","title":{"rendered":"Clean Air Metals Files Third Quarter, 2020 Financial Statements"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">THUNDER BAY, ON<\/span>, <span class=\"xn-chron\">Dec. 22, 2020<\/span> \/PRNewswire\/ &#8211; Clean Air Metals Inc. (&#8220;<b>Clean Air Metals<\/b>&#8221; or the &#8220;<b>Company<\/b>&#8220;) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) announces that it has filed its condensed interim consolidated financial statements and management&#8217;s\u00a0discussion and analysis for the nine months ended <span class=\"xn-chron\">October 31<\/span>, 2020,\u00a0available for viewing on <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020386-1&amp;h=3031712465&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a><\/u>.<\/p>\n<p>\n        <b>Third Quarter Financial Highlights <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Total assets as at <span class=\"xn-chron\">October 31, 2020<\/span> of <span class=\"xn-money\">$26,751,246<\/span><\/li>\n<li>Total cash as at <span class=\"xn-chron\">October 31, 2020<\/span> of <span class=\"xn-money\">$9,571,707<\/span><\/li>\n<li>Working capital as at <span class=\"xn-chron\">October 31, 2020<\/span> of <span class=\"xn-money\">$8,033,602<\/span><\/li>\n<li>Shareholder&#8217;s equity as at <span class=\"xn-chron\">October 31, 2020<\/span> of <span class=\"xn-money\">$22,602,288<\/span><\/li>\n<\/ul>\n<p>During the Q3 period as previously reported, the Company,<\/p>\n<ul type=\"disc\">\n<li>Completed a <span class=\"xn-money\">C$1 million<\/span> cash payment to Rio Tinto Exploration Canada Inc. to maintain an option to acquire a 100% right, title and interest in the Escape Lake property through Benton Resources Inc., pursuant to the terms of the definitive option agreement dated <span class=\"xn-chron\">January 27, 2020<\/span> (reported <span class=\"xn-chron\">October 14, 2020<\/span>). <\/li>\n<li>Announced a 3-year <span class=\"xn-money\">$150,000<\/span> research partnership commitment to the <span class=\"xn-org\">Lakehead University<\/span> Geology Department, <span class=\"xn-location\">Thunder Bay, Ontario<\/span> to study the metallogeny of the Mid-Continent Rift Metallotect. <span class=\"xn-org\">Lakehead University<\/span> will have confidential access to technical information generated at the Thunder Bay North Property of Clean Air Metals and may review other exploration and development projects in the area. Clean Air Metals&#8217; commitment was matched 2:1 by the National Science and Engineering Research Council of <span class=\"xn-location\">Canada<\/span> for a total of <span class=\"xn-money\">$450,000<\/span> to be invested in targeted research that may lead to new mineral discoveries (reported <span class=\"xn-chron\">September 3, 2020<\/span>). <\/li>\n<li>Completed approximately <span class=\"xn-money\">8250m<\/span> of diamond drilling on the Escape Lake deposit trend at an approximate total all-in cost of <span class=\"xn-money\">$1.73 million<\/span>. Geophysical surveying with borehole EM, Magnetometric Resistivity (MMR) and Audio Magnetotelluric AMT) soundings added approximately <span class=\"xn-money\">$300,000<\/span> to this total. This work helped generate the intercept in Hole ELR20-025 which intersected\u00a0<b>98.9m\u00a0of 1.89g\/t Palladium (Pd), 1.40g\/t Platinum (Pt), 0.69% Copper (Cu) and 0.35% Nickel (Ni)<\/b>\u00a0including a higher-grade intercept within this interval which returned\u00a0<b>19.2m\u00a0of 4.09g\/t Pd, 2.90g\/t Pt, 1.42% Cu and 0.75% Ni<\/b>\u00a0from\u00a0392.5m-411.8m\u00a0downhole (reported <span class=\"xn-chron\">October 29, 2020<\/span>). <\/li>\n<li>Retained Nordmin Engineering Ltd. (&#8220;Nordmin&#8221;)\u00a0as the Technical Services Provider for the Thunder Bay North Project with a mandate to complete a Resource Validation of the Current Lake Deposit Historic Estimate and develop a preliminary resource model for the Escape Lake trend in cooperation with Clean Air Metals&#8217; Database Geologist. Nordmin will develop a global resource estimate for the Thunder Bay North Project expected in the first quarter of 2021 (Q1\/21) and early tradeoff studies toward publication of a scoping study or Preliminary Economic Assessment expected in the second quarter of 2021 (Q2\/21) (reported <span class=\"xn-chron\">August 11, 2020<\/span>).<\/li>\n<\/ul>\n<p>\n        <b>Financial Summary<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the nine months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>October 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntar prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>October 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>October 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>October 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Operating Expenses<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 620,791<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 730,507<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 2,524,098<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 854,358<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<td class=\"prngen3\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net Loss and Comprehensive Loss<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(608,334)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(880,507)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(289,901)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,004,358)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Loss per share \u2013<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Basic and Diluted<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.00)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.03)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 (0.01)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.05)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>October 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>January 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$ \u00a0 \u00a0 \u00a026,751,246<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$ \u00a0 \u00a0 \u00a0 1,961,497<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,149,269<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">693,114<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total Shareholders&#8217; Equity<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a022,602,288<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$ \u00a0 \u00a0 \u00a0 1,268,383<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>Full details of the financial reports and operating results for the third quarter ended <span class=\"xn-chron\">October 31, 2020<\/span> are described in the Company&#8217;s condensed interim consolidated financial statements with accompanying notes and related Management&#8217;s Discussion and Analysis, available on SEDAR at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020386-1&amp;h=3031712465&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>CEO of Clean Air Metals, <span class=\"xn-person\">Abraham Drost<\/span>, MSc, P.Geo. stated that &#8220;third quarter financial results demonstrate that the Company continued to successfully invest into exploration of the Escape Lake and Current Lake polymetallic magma conduit-hosted mineral deposits. Through continued exploration and development of these two robust trends of notable platinum, palladium, copper and nickel mineralization as outlined in its continuous public disclosure, Clean Air Metals continues to add value for its shareholders and is well financed to position the Company for continued success in 2021.&#8221;<\/p>\n<p>\n        <b>COVID Policy<\/b>\n      <\/p>\n<p>Clean Air Metals continued to apply COVID-19 avoidance and personal protection measures for its geological staff, drilling contractor and service suppliers during the third quarter. Personnel are required to maintain physical distance, use Personal Protective Equipment (PPE), self-monitor and self-isolate or elect to work from home. Management had previously eliminated plans for a camp setup to service a planned diamond drill campaign on the Escape Lake Project. The Company is aware of Thunder Bay Health Unit guidelines that provide for &#8220;mandatory&#8221; self-isolation for returning overseas and inter-provincial travel. The guidelines also &#8220;strongly recommended&#8221; self-isolation after travel into the Northwest region from other areas of the Province. Mineral Exploration and Development has been deemed an essential service in the Province of\u00a0Ontario\u00a0(<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020386-1&amp;h=3377731209&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2891835-1%26h%3D2761240191%26u%3Dhttp%253A%252F%252Fwww.netnewsledger.com%252F2020%252F03%252F23%252Fontario-covid-19-business-allowed-to-remain-open-list-march-23-2020%252F%26a%3Dhttp%253A%252F%252Fwww.netnewsledger.com%252F2020%252F03%252F23%252Fontario-covid-19-business-allowed-to-remain-open-list-march-23-2020%252F&amp;a=http%3A%2F%2Fwww.netnewsledger.com%2F2020%2F03%2F23%2Fontario-covid-19-business-allowed-to-remain-open-list-march-23-2020%2F\" rel=\"nofollow noopener noreferrer\">http:\/\/www.netnewsledger.com\/2020\/03\/23\/ontario-covid-19-business-allowed-to-remain-open-list-march-23-2020\/<\/a>). The Company has procured the services of a locally staffed and serviced diamond drilling contractor to complete the Phase 1 and Phase 2 diamond drilling programs.<\/p>\n<p>\n        <b>Qualified Person <\/b>\n      <\/p>\n<p>Mr.\u00a0Allan MacTavish, P.Geo. a Qualified Person under National Instrument 43-101 and VP, Project Manager of the Company, has reviewed and approved all technical information in this press release.<\/p>\n<p>\n        <b>Corporate Social Responsibility <\/b>\n      <\/p>\n<p>Clean Air Metals and its wholly-owned subsidiary, Panoramic PGMs (<span class=\"xn-location\">Canada<\/span>) Ltd., acknowledge that the Escape Lake and Thunder Bay North Properties are on the traditional territories of the Fort William First Nation,\u00a0Red Rock First Nation\u00a0and Biinjitiwaabik Zaaging Anishinabek, signatories to the Robinson-Superior Treaty of 1850. Clean Air Metals&#8217; wholly-owned subsidiary Panoramic PGMs (<span class=\"xn-location\">Canada<\/span>) Ltd. is a signatory to a Communication Protocol between the parties.<\/p>\n<p>\n        <b>About Clean Air Metals Inc.<\/b>\n      <\/p>\n<p>Clean Air Metals&#8217; flagship asset is the 100% owned, high grade Thunder Bay North Project, a platinum, palladium, copper, nickel project located near the <span class=\"xn-location\">City of Thunder Bay, Ontario<\/span> and the Lac des Iles Mine owned by Impala Platinum. The Clean Air Metals project hosts the Current Lake deposit and magma conduit and the Company is actively exploring the Escape Lake deposit, a twin structure to the Current Lake deposit. Executive Chairman <span class=\"xn-person\">Jim Gallagher<\/span> and CEO <span class=\"xn-person\">Abraham Drost<\/span> lead an experienced team of explorers, researchers and engineers who are using the Norilsk magma conduit stratigraphic and mineral deposit model to guide ongoing exploration and development studies. As the former CEO of North American Palladium Ltd. which owned the Lac des Iles Mine prior to the sale to Impala Platinum in <span class=\"xn-chron\">December 2019<\/span>, <span class=\"xn-person\">Jim Gallagher<\/span> and team are credited with the mine turnaround and creation of significant value for shareholders.<\/p>\n<p>\n        <b>ON BEHALF OF THE BOARD OF DIRECTORS<\/b>\n      <\/p>\n<p>&#8220;<i><span class=\"xn-person\">Abraham Drost<\/span><\/i>&#8220;<\/p>\n<p>\n        <span class=\"xn-person\">Abraham Drost<\/span>, Chief Executive Officer of Clean Air Metals Inc. <\/p>\n<p>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/p>\n<p>\n        <b>Cautionary Note <\/b>\n      <\/p>\n<p>The information contained herein contains &#8220;forward-looking statements&#8221; 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 &#8220;forward-looking statements.&#8221; 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&#8217;s expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company&#8217;s prospects, properties and business detailed elsewhere in the Company&#8217;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&#8217;s expectations or projections.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO31553&amp;sd=2020-12-22\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/clean-air-metals-files-third-quarter-2020-financial-statements-301197409.html\">http:\/\/www.prnewswire.com\/news-releases\/clean-air-metals-files-third-quarter-2020-financial-statements-301197409.html<\/a><\/p>\n<p>SOURCE  Clean Air Metals Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO31553&amp;Transmission_Id=202012220715PR_NEWS_USPR_____TO31553&amp;DateId=20201222\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire THUNDER BAY, ON, Dec. 22, 2020 \/PRNewswire\/ &#8211; Clean Air Metals Inc. (&#8220;Clean Air Metals&#8221; or the &#8220;Company&#8220;) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) announces that it has filed its condensed interim consolidated financial statements and management&#8217;s\u00a0discussion and analysis for the nine months ended October 31, 2020,\u00a0available for viewing on www.sedar.com. Third Quarter Financial Highlights Total assets as at October 31, 2020 of $26,751,246 Total cash as at October 31, 2020 of $9,571,707 Working capital as at October 31, 2020 of $8,033,602 Shareholder&#8217;s equity as at October 31, 2020 of $22,602,288 During the Q3 period as previously reported, the Company, Completed a C$1 million cash payment to Rio Tinto Exploration Canada Inc. to maintain an option to acquire &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Clean Air Metals Files Third Quarter, 2020 Financial Statements&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404303","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Clean Air Metals Files Third Quarter, 2020 Financial Statements - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Clean Air Metals Files Third Quarter, 2020 Financial Statements - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire THUNDER BAY, ON, Dec. 22, 2020 \/PRNewswire\/ &#8211; Clean Air Metals Inc. (&#8220;Clean Air Metals&#8221; or the &#8220;Company&#8220;) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) announces that it has filed its condensed interim consolidated financial statements and management&#8217;s\u00a0discussion and analysis for the nine months ended October 31, 2020,\u00a0available for viewing on www.sedar.com. Third Quarter Financial Highlights Total assets as at October 31, 2020 of $26,751,246 Total cash as at October 31, 2020 of $9,571,707 Working capital as at October 31, 2020 of $8,033,602 Shareholder&#8217;s equity as at October 31, 2020 of $22,602,288 During the Q3 period as previously reported, the Company, Completed a C$1 million cash payment to Rio Tinto Exploration Canada Inc. to maintain an option to acquire &hellip; Continue reading &quot;Clean Air Metals Files Third Quarter, 2020 Financial Statements&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T12:18:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO31553&amp;sd=2020-12-22\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/clean-air-metals-files-third-quarter-2020-financial-statements\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/clean-air-metals-files-third-quarter-2020-financial-statements\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Clean Air Metals Files Third Quarter, 2020 Financial Statements\",\"datePublished\":\"2020-12-22T12:18:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/clean-air-metals-files-third-quarter-2020-financial-statements\\\/\"},\"wordCount\":1367,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/clean-air-metals-files-third-quarter-2020-financial-statements\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=TO31553&amp;sd=2020-12-22\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/clean-air-metals-files-third-quarter-2020-financial-statements\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/clean-air-metals-files-third-quarter-2020-financial-statements\\\/\",\"name\":\"Clean Air Metals Files Third Quarter, 2020 Financial Statements - 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(&#8220;Clean Air Metals&#8221; or the &#8220;Company&#8220;) (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) announces that it has filed its condensed interim consolidated financial statements and management&#8217;s\u00a0discussion and analysis for the nine months ended October 31, 2020,\u00a0available for viewing on www.sedar.com. Third Quarter Financial Highlights Total assets as at October 31, 2020 of $26,751,246 Total cash as at October 31, 2020 of $9,571,707 Working capital as at October 31, 2020 of $8,033,602 Shareholder&#8217;s equity as at October 31, 2020 of $22,602,288 During the Q3 period as previously reported, the Company, Completed a C$1 million cash payment to Rio Tinto Exploration Canada Inc. to maintain an option to acquire &hellip; Continue reading \"Clean Air Metals Files Third Quarter, 2020 Financial Statements\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-22T12:18:26+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO31553&amp;sd=2020-12-22","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Clean Air Metals Files Third Quarter, 2020 Financial Statements","datePublished":"2020-12-22T12:18:26+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/"},"wordCount":1367,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO31553&amp;sd=2020-12-22","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/clean-air-metals-files-third-quarter-2020-financial-statements\/","name":"Clean Air Metals Files Third Quarter, 2020 Financial Statements - 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