My wife recently surprised me with a 1985 Honda Shadow which is in very good shape, (almost). The motorcycle was a repo and sat for a while before she bought it for me. After riding the motorcycle for a few weeks, it started to develop (what I thought was) a minor gas leak from the tank. When I cleaned the area that was leaking, I found a couple of rust holes about the thickness of a #2 pencil lead or maybe a little bigger. I was wondering if your epoxy putty would be able to seal these holes. The tank has been removed and will be sanded and cleaned.

Yes, the NuMetal epoxy putty will fill and seal those holes, and can be sanded and paint too. If your going through all this effort, I would also consider sealing the inside of the tank afterwards. This way the thinner sealer will seep in and seal the holes also. Plus you will never have to worry about a rusty tank.