Mr. Scott McLean reports

DRILLING INITIATED AT TRANSITION METALS' POLYMETALLIC PIKE WARDEN PROJECT, YUKON

A diamond drill has been mobilized to Transition Metals Corp.'s 100-per-cent-optioned, 4,100-hectare Pike Warden project, 70 kilometres south of Whitehorse, Yukon. The drilling will test select seasonally accessible targets from the 17 drill-ready sites outlined in the Copper Junction area and identified during the company's 2025 summer field program (see news release dated Sept. 9, 2025).

Scott McLean, chief executive officer of Transition, commented: "We are pleased to begin drill testing some of the targets we have defined on this project. The drilling will evaluate prospective areas under cover associated with structural features linked to the Bennett Lake caldera complex. The Copper Junction target area is surrounded by altered and fractured outcrop shedding elevated copper, molybdenum, gold and silver into a large, covered area that coincides with complex geophysical signatures."

The Pike Warden project sits on the northern rim of the Bennett Lake caldera complex, one of Canada's largest collapsed volcanic centres. This geological environment is prospective for the formation of large polymetallic porphyry copper and epithermal gold-silver systems. More than 25 polymetallic showings have been discovered to date at Pike Warden, returning assay values up to 48.1 grams per tonne gold, 11,270 grams per tonne silver, 7.49 per cent copper and 2.37 per cent molybdenum.

Drilling objectives

Multiple drill holes are planned this fall to test select targets within the Copper Junction area. This area is just one of the five large-scale targets identified on the property to date. Copper Junction hosts the densest cluster of elevated copper, molybdenum and precious metal samples on the property.

Next steps and timing

Weather dependent, the company anticipates that the drilling will be completed within three to four weeks. All drill core will be transported to Whitehorse for detailed logging and sampling. Seasonal access conditions will be monitored throughout the program.

Assay results from rock samples collected during the summer program are pending. The sampling program identified at least two new showings. An IP (induced polarization) survey further refined ZTEM-defined (Z-tipper electromagnetic) low-resistivity zones at Copper Junction and delineated a broad area of elevated chargeability and resistivity east of the Copper North target area. In this area, porphyry-style copper mineralization has been mapped and sampled, returning up to 5.58 per cent copper and 0.76 gram per tonne gold in historical work and up to 3.63 per cent copper and 0.55 gram per tonne gold in grab samples collected since 2021.

About the Pike Warden project

The Pike Warden project, located 65 kilometres south of Whitehorse, Yukon, within the traditional territory of the Carcross/Tagish First Nation, is an emerging high-grade polymetallic epithermal gold-silver and porphyry copper property. The company owns or has the option to own 100-per-cent interest in the 203 contiguous quartz claims covering an area of approximately 41 square kilometres.

The project encompasses a combination of historic and recently discovered high-grade polymetallic occurrences, with bedrock and scree sampling across the property returning highlight values up to 11,270 grams per tonne silver, 48.1 grams per tonne gold, 7.49 per cent copper, 59.6 per cent lead, 2.37 per cent molybdenum and 2.61 per cent zinc. Furthermore, maiden drilling at the ERT zone in 2022 returned percussion samples with highlight values up to 468 grams per tonne silver, 0.19 gram per tonne gold, 163.5 parts per million copper and 1,150 parts per million zinc over 1.5-metre sample intervals (see news release dated Jan. 16, 2023).

Mineralization on the property appears to be spatially associated with large-scale structures, particularly at intersection nodes. Concentric structures interpreted as caldera collapse features are intruded by porphyritic ring dikes of the Bennett Lake volcanic complex. A second prominent structural trend identified, northeast-trending structures trending across the property, is believed to relate to a broader regional caldera collapse hinge zone. A combination of overlapping higher-temperature alteration styles, metal zonation, and zones of increased vein and fracture density appear to indicate that mineralizing porphyry copper system(s) are exposed at varying erosional levels, interpreted to be controlled or bounded by the caldera collapse structures.

Qualified person

The scientific and technical content of this release has been reviewed and approved by Benjamin Williams, PGeo (Professional Geoscientists Ontario), senior geologist at Transition Metals and a qualified person as defined by National Instrument 43-101.

About Transition Metals Corp.

Transition Metals is a Canadian-based, multicommodity explorer. Its award-winning team of geoscientists has extensive exploration experience and 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.

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