Mr. Scott McLean reports

TRANSITION METALS CORP. ANNOUNCES UP TO $1,000,000 PRIVATE PLACEMENT

Transition Metals Corp. intends to raise a minimum of $500,000 and up to an aggregate of $1-million by way of a non-brokered private placement. The offering will consist of up to four million flow-through units (the FTU) at a price of 10 cents per unit, for proceeds of up to $400,000; up to 3,424,658 charity flow-through units (the CFU) at a price of 11.68 cents per unit, for proceeds of up to $400,000; and 2.5 million hard-dollar units (the HDU) at a price of eight cents per unit for proceeds of up to $200,000. All units (FTU, CFU, HDU) will consist of a common share and a half warrant. Each full warrant entitles the investor to purchase a common share in the company at any time for 15 cents for a period of two years. The company may reallocate among FTU, CFU and HDU depending on market demand. The initial purchasers of the CFU may subsequently donate such CFU to registered charitable organizations, which may in turn choose to sell such CFU to purchasers at a price of eight cents per reoffered unit or sell such reoffered units to purchasers at the reoffer price. The company will not be a party to any such arrangements. A finder's fee may be paid in connection with the offering to finders, as determined by mutual agreement between the corporation and the finders and subject to regulatory approval. The finders' fee will consist of 6 per cent cash for units sold to investors introduced by such finders, and non-transferable share purchase warrants equal to 6 per cent of such CFU, FTU or HDU sold to investors. The compensation warrants will permit the purchase of one common share in the capital of the company for 24 months from closing at a price of 15 cents.

Proceeds from the FTU and CFU securities issued in connection with the offering will be used to explore and advance critical minerals properties in Ontario (Maude Lake Ni-Cu-PGM (nickel-copper-platinum-group-metal) and Saturday Night (PGM)) and the Yukon (Pike Warden Au-Ag-Cu (gold-silver-copper)). Completion of the offering will be subject to all necessary approvals, including the approval of the TSX Venture Exchange. There can be no assurance that the offering will be completed as proposed or at all. HDU securities issued in connection with the offering are intended for exploration and corporate activities.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the FTUs and CFUs will be offered for sale to purchasers resident in Canada, except Quebec, and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Because the offering is being completed pursuant to the listed issuer financing exemption, the securities issued under the offering will not be subject to a hold period pursuant to applicable Canadian securities laws.

There is an offering document relating to the offering that can be accessed under the company's profile on SEDAR and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Transition Metals Corp.

Transition Metals is a Canadian-based, multicommodity explorer. The award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively.

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