Clean Air Metals (AIR) investor relations material

Deal rationale and strategic fit

• Three-cornered amalgamation combines the Thunder Bay North PGM-copper-nickel project, Springbok’s Maude Lake option and Fiore’s mining, capital-markets and advisory capabilities, creating Dante Metals as a PGM-focused development and exploration vehicle.

• Maude Lake comprises 95 contiguous claims over 2,017 hectares, with multiple high-priority nickel-copper-PGE exploration targets identified through prior work.

• Fiore cited Thunder Bay North’s technical merits and perceived valuation gap; partners said they select only two to three deals annually from roughly 100 opportunities.

Financial terms and conditions

• September 22 financing raised C$6,174,999.95: 10,050,000 non-flow-through receipts at C$0.50 and 2,090,909 flow-through receipts at C$0.55; receipts convert to post-consolidation shares subject to escrow conditions.

• Legacy shares consolidate 10:1; each Springbok share is exchangeable for 0.9 post-consolidation Dante shares, subject to dissent rights.

• Post-close ownership is expected to be 40.4% former legacy shareholders, 40.3% former Springbok shareholders and 19.3% financing investors, with ~62m undiluted shares.

• Expected closing cash is ~C$6.4m, with negligible debt and ~C$3m working capital; an October 9 placement issued 2,500,000 flow-through shares at C$0.06 for C$150,000.

• Fiore Management & Advisory receives a 1% fee based on adjusted market capitalization; most Springbok shares are subject to post-closing escrow.

Integration plans and timeline

• Legacy management remains; the five-member Dante board is to include three legacy nominees and two Fiore nominees.

• Phase one includes ~2,500m of Escape down-plunge drilling, geophysics, advanced-exploration design, processing-partner discussions and a Maude Lake program; phase two contemplates 10,000+m of drilling, permitting and technical studies.

• The two-year plan outlines ~C$60m of work, subject to review by the new board; 2027 targets include Escape drilling and a toll-milling MOU, while 2028 targets include a possible resource update and pre-feasibility study.

• Closing was targeted by end-November 2026; meeting materials were scheduled to mail October 19, with shareholder meetings set for November 13.