Mr. Scott McLean reports

TRANSITION METALS COMMENCES 2026 EXPLORATION PROGRAM AT PIKE WARDEN EPITHERMAL GOLD-SILVER AND PORPHYRY COPPER PROJECT, YUKON

Transition Metals Corp. has resumed field activities at its Pike Warden project, a district-scale epithermal gold-silver and porphyry copper property located in southern Yukon. The project covering approximately 41 square kilometres is situated along the northern margin of the Bennett Lake caldera complex, one of Canada's largest collapsed volcanic centres, where geodynamic conditions are highly favourable for the development of large, polymetallic mineral systems.

Scott McLean, Transition Metals' chief executive officer, commented: "This program aims to expose zones of subcropping veining at the Saddles target so that their size, orientation and grade over width can be properly evaluated in bedrock ahead of a first-pass drilling program. The style of mineralization observed at the Saddles target is consistent with intermediate-sulphidation veining similar to that associated with the nearby Skukum Gold/Steller deposits being advanced by Blue Jay Gold, located approximately 10 km to the north."

2026 work plans

Work this season is primarily concentrated on the Saddles epithermal gold-silver system targets, where previous sampling returned strong values, including: 44.5 grams per tonne gold, 491 g/t silver, 59.6 per cent lead, 0.61 per cent copper, 0.35 per cent zinc and 59.66 parts per million molybdenum.

The Saddles target hosts four showings known as Upper Saddle, Lead-Gold/Middle Saddle, Silver Saddle and the ACPb zone characterized by oxidized, rusty float trains of quartz vein material hosting base and precious metals, with the ACPb zone being the only bedrock showing.

Due to the felsenmeer and scree/talus nature that composes the landscape in the vicinity of these showings, it has been difficult to access outcropping bedrock. The current program of hand trenching and stripping is designed to expose mineralized bedrock to obtain length weighted channel samples and to map structural controls to refine drill targets for a planned reverse circulation program.

Work completed to date

Exploration activities on the project to date has comprised extensive prospecting, mapping, geophysics and geochemical sampling, including:

• Collection of 2,380 rock and soil samples, returning elevated Au, Ag, Cu and Mo values;
• Discovery of 33 polymetallic showings, with standout assays including: 48.1 g/t Au, 11,270 g/t Ag, 7.49 per cent Cu and 2.37 per cent Mo;
• Integration of high-resolution lidar, multispectral and orthophoto analysis, 600-plus line kilometres of ZTEM, and 8.9 line km of ground induced polarization, which have outlined five large-scale target areas on the project, including:
  • Porphyry Cu-Mo target centres: Copper Junction, Copper North and Olympus;
  • Epithermal Au-Ag target systems: ERT zone and Saddles.

By late summer of 2025, drill-ready targets had been generated at Copper Junction, Copper North and the ERT zone, with additional work recommended at Saddles and Olympus.

In October, 2025, Transition completed two diamond drill holes at Copper Junction totalling 504 metres situated within accessible targets within the Copper Junction target area. Drilling intersected favourable alteration and structural zones that will inform future work, though no significant mineralization was encountered. Follow-up activities include petrographic analysis and additional core sampling activities to better understand the geodynamic environment to aid in vectoring toward mineralization.

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 a 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 g/t Ag, 48.1 g/t Au, 7.49 per cent Cu, 59.6 per cent Pb, 2.37 per cent Mo and 2.61 per cent Zn. Furthermore, maiden drilling at the ERT zone in 2022 returned percussion samples with highest values up to 468 g/t Ag, 0.19 g/t Au, 163.5 ppm Cu and 1,150 ppm Zn over 1.5 metres (see news release dated Jan. 16, 2023).

Mineralization appears to be spatially associated with large-scale structures, particularly at their intersections. Concentric structures interpreted as caldera collapse features are intruded by porphyritic ring dikes of the Bennett Lake volcanic complex. The second structural trend of northeast-trending structures identified 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 appears to indicate a mineralizing porphyry copper system(s) 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 (PGO), exploration manager at Transition, a qualified person as defined by National Instrument 43-101.

About Transition Metals Corp.

Transition 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.