Historic Estimate

Historic Estimate - Thunder Bay North

 

The Escape Lake Intrusion and magma conduit appears to be a twin structure to the Current Lake Intrusion and magma conduit on the Thunder Bay North Project (Figure 1). Panoramic PGMs (Canada) Ltd. previously reported a historic estimate of 9.8 million Tonnes Indicated grading 2.3g/T Platinum Equivalent (PtEq) on a weighted average basis, from Open Pit and Underground sources (Table 1) on the Thunder Bay North or Current Lake Deposit.

 

The Open Pit estimate data within the table presented in Table 1 was taken directly from a similar table presented within the AMEC Technical Report dated 6 October 2010. Additional underground estimate data within the Appendix 1 table was taken directly from data presented within a publicly disclosed 23 February, 2012 Magma Metals Limited Press Release. All data in Table 1 is within the personal knowledge of Allan MacTavish, M.Sc., P.Geo. (Ontario) and employee of Clean Air Metals Inc. who is a Qualified Person under the provisions of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical content of this disclosure.

 

The historic estimate of the Current Lake Deposit at the Thunder Bay North Project is considered by Clean Air to be historic in nature. No Qualified Person as defined by NI 43-101 has done sufficient work for Clean Air to classify the historic estimate of the Current Lake Deposit as current and the Company is not treating the historic estimate as current. The Company's QP has verified the data but no resampling of core or any other tests on the analytical procedures has yet been performed by the Company to-date. Confirming the historic estimate at Current Lake will be a concurrent priority for Clean Air Metals Inc.

 

Figure 1: 3D Oblique View of the Thunder Bay North Escape Lake and Current Lake Magma Conduit System

 

Table 1: TBN - Current Lake Deposit - Historic Estimate