Transition Metals Corp V.XTM

Transition Metals Detects Large Off-hole Conductive Target

[Betteryear2]

Highlights:

• Borehole surveys detect a large untested off-hole conductor from hole ML-22-03 at a depth of 160 metres downhole.
• ML-22-03 is the furthest step-out hole drilled which evaluates the high tenor Ni-Cu mineralization exposed at surface where sampling returned 17.01 metres of 0.46% Ni, including 4.26 metres of 1.27% Ni (see company press release dated September 12, 2022).
• The conductivity target appears to increase in both size and strength with depth.

Sudbury, Ontario--(Newsfile Corp. - April 24, 2023) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is pleased to report results from borehole electromagnetic (BHEM) survey work completed on its Maude Lake Property ("the Property") near Schreiber, Ontario. The survey was undertaken to follow up mineralization intersected in 3 holes completed by the Company in the fall of 2022 (see company press release dated November 28, 2022). Sampling of the mineralized sections returned;

• 20.01 metres of 0.50% Ni Eq*, including 4.00 metres of 0.90% Ni Eq* in hole ML-22-01,
• 7.52 metres of 0.65% Ni Eq*, including 1.17 metres of 2.54% Ni Eq* in Hole ML-22-02, and
• 4.04 metres of 0.27% Ni Eq* in hole ML-22-03.

Transition CEO Scott McLean commented, "The results of this survey are encouraging as they highlight that the potential grade and size of this exciting new magmatic Ni-Cu-PGM system may be improving at depth. We are looking forward to more drilling on this project as this summer's field work gets underway."

The survey was designed, verified, and modeled by geophysicist Warren Hughes, P.Geo., of East Coast Consulting and completed by Crone Geophysics & Exploration Ltd. utilizing an approximately 500 by 500 metre loop layout.


Transition Metals Detects Large Off-hole Conductive Target on its Ni-Cu-Co Maude Lake Project, Ontario (newsfilecorp.com)