I took the car to the garage today. Issue is that the fuel lines are corroded. The material that I felt was the exhaust shielding which is drenched in gas. Upon further inspection, we found that the break lines are extremely corroded and need to be replaced.
To have the the break and fuel lines (fuel/pressure/return) replaced end to end will be $500cdn parts and labour. This also includs braces for the gas tank which are corroded.
To all those who have responded, thank you for your feedback.