For sure. I would say mine was the opposite, but it was just scruffy all the way around. My thread (ongoing) is
here and includes some links in the first post to various topics. There are much better build threads than mine, but there could still be useful things there for you. I would definitely recommend checking out the projects and builds section for other 350 threads.
@ballbearian may be the resident expert on salvaging rusty CB350's, so if he says that, you may want to research other options for your pan. Here is
one option. I also look on eBay frequently for parts, but you might check to see if there is a moto salvage yard in your area. One near me recently closed, but had been a good place to find certain things.