Mr. Scott McLean reports

TRANSITION METALS AND 1930153 ON LTD SELL THE FOSTUNG TUNGSTEN PROPERTY FOR US$5,000,000 CASH

Transition Metals Corp., together with 1930153 Ontario Ltd., a private Ontario corporation (collectively, the vending parties), has arranged a joint sale of their respective 50-per-cent interests in the Fostung tungsten property to UAMY Cobalt Corp., a wholly owned subsidiary of United States Antimony Corp., a public company listed on the New York Stock Exchange.

Transaction summary

Under the terms of the agreement dated June 26, 2025, UAMY has acquired a 100-per-cent undivided interest in the property from the vending parties for total consideration of $5-million (U.S.) in cash (approximately $7-million) and the grant of a 0.5-per-cent net smelter return (NSR) royalty. Proceeds from the transaction will be split equally between Transition and 1930153 Ontario, each receiving $2.5-million (U.S.) and 0.25-per-cent NSR royalty for its respective 50-per-cent interest in the property. The sale constitutes an arm's-length transaction between all three entities. No finders' fees were paid in relation to this transaction.

Scott McLean, chief executive officer of Transition Metals, commented: "We are pleased to transact with UAMY, a leading strategic critical metals company which is well positioned to advance Fostung for the benefit of stakeholders, including the nearby communities of Espanola and Sudbury. The proceeds from the sale of just one of our 18 projects highlights the depth of our portfolio, which includes multiple mineral exploration projects, royalties, milestone payments and marketable securities. Furthermore, this transaction shows the benefit of our ability to utilize our portfolio to generate non-dilutive cash to help us advance key projects like Pike Warden and Saturday Night."

Mark Trevisiol, PEng, president of 1930153 Ontario, commented: "China controls over 80 per cent of the world's tungsten production and has put restrictions on its export to foreign countries. Classified as a critical mineral, Ontario is fortunate to have a tungsten deposit of this size to counter the control of this important alloying element. UAMY, a North American-based company and a leader in the mining and processing of critical minerals brings both the necessary company values and financial strength to develop the property in a sustainable method benefiting all stakeholders."

About the Fostung property

The Fostung property consists of 50 mining claims covering approximately 1,114 hectares. The property lies within Foster township in the Sudbury mining district of Ontario, Canada, approximately eight kilometres southeast of the town of Espanola. An all-weather gravel road provides excellent access from the property to Espanola, where Trans-Canada Highway No. 17 is located. The city of Sudbury is located approximately 70 kilometres to the northeast.

The property hosts a near-surface historic inferred mineral resource, estimated in 2007 by SRK Consulting, of 12.4 million tonnes grading 0.213 per cent WO3 (tungsten trioxide), using a cut-off grade of 0.125 per cent. SRK based this estimate on data from a total of 44 diamond drill holes totalling 9,185 metres.

The company advises that a qualified person has not completed sufficient work to classify the historical estimate as a current mineral resource or mineral reserve, and the company is not treating the historical estimate as such. The company has not independently verified the sample data or grades presented in the historical estimate and considers them to be historical in nature. Furthermore, Transition has not undertaken the necessary work to verify or upgrade the historical estimate and has not assessed the amount of work required to do so. The company is also unaware of any more recent mineral resource estimates; however, Transition is aware that UAMY plans to commission an updated technical report, compliant with SEC (U.S. Securities and Exchange Commission) SK 1300 regulations, which may include results from recent exploration programs conducted on the property by the vending parties.

A portion of the property is subject to an underlying 1-per-cent NSR royalty, with UAMY retaining the right to buy back 0.5 per cent of the NSR for $500,000 (see news release dated Nov. 14, 2019).

Qualified person

The scientific and technical content of this release has been reviewed and approved by Benjamin Williams, PGeo (PGO), senior geologist at Transition Metals and a qualified person as defined by National Instrument 43-101. In addition, the scientific and technical content of this release has also been reviewed and approved by Mark Trevisiol, PEng (PEO), president of 1930153 Ontario and a qualified person as defined by NI 43-101.

About Transition Metals Corp.

Transition Metals is a Canadian-based, multicommodity explorer. Its 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. Joint venture partners earn an interest in the projects by financing a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder equity dilution.

We seek Safe Harbor.