Mr. Scott McLean reports

TRANSITION METALS EXPANDS GOWGANDA GOLD PROJECT TO 125 SQUARE-KILOMETRES IN ONTARIO'S ABITIBI GREENSTONE BELT

Further to Transition Metals Corp.'s news release of May 20, 2026, Transition is pleased to announce that it has further expanded its Gowganda gold property to approximately 125 square kilometres following recent claim staking along the Ridout-Tyrrell deformation zone (RTDZ), and by the acquisition of two additional properties within the Miller Lake basin. The project is located in the prolific Abitibi greenstone belt, within 100 km of three producing gold mines, including Iamgold's Cote Gold, Alamos Gold's Young-Davidson mine and Agnico Eagle's Macassa operations, which collectively produced an estimated $4.5-billion in gold value in 2025 based on public disclosure.

The Gowganda project is located near advanced-stage exploration assets in the Shining Tree camp, including McFarlane Lake Mining's Juby project. The company continues to advance the project with the 2026 summer exploration program including trenching, sampling and soil geochemistry being undertaken ahead of a planned fall drilling program.

Highlights

• Expanded land package: Transition now controls approximately 125 square kilometres positioned across the interface of the Shining Tree gold camp and historic Gowganda silver camp.
• Camp scale coverage: Near continuous coverage of approximately 20 km strike length along a major east-west structure believed by many explorationists to be an extension of the RTDZ, a major gold-bearing crustal structure which has similarities to other prolific gold bearing structures in the Abitibi, such as the nearby Destor-Porcupine and Cadillac-Larder Breaks where historic gold production is reported to exceed 200 Moz (million ounces).
• Gowganda silver camp: The project includes portions of the Miller Lake basin prospective for high-grade silver-cobalt vein systems, including the strike extension of Nord Precious Metals' Robinson silver zone where historic silver production is reported to exceed 60 Moz of silver.

Commenting on the expansion, chief executive officer Scott McLean stated: "We continue to be highly encouraged by the scale of the gold system we are seeing in Gowganda and the increasing exploration momentum in the district. This expansion further strengthens our strategic land position within one of the Abitibi greenstone belt's most promising emerging gold camps."

Property acquisition details

Approximately 18 square km were staked in June, 2026, to further expand the property westward to where McFarlane Lake Mines is active at its Juby project. The two acquired properties totalling approximately five square km are located east within the Miller Lake basin. One property was optioned from Ashley Gold Mines Ltd. and Skead Holdings Ltd., where the company holds the option to buy a 100-per-cent interest by paying the optionor $5,000 prior to the second anniversary. The second property was option from Skead Holdings Ltd., the company holds the option to buy 100-per-cent interest by paying $20,000 to the optionor prior to the second anniversary. If either or both of the options are completed, the respective optionor will be entitled to a 2-per-cent net smelter return royalty of which 50 per cent of each royalty can be purchased by the company at any time for $1-million.

About the Gowganda gold project

The Gowganda gold project is a road-accessible, district-scale property located beside the community of Gowganda, Ont., along Highway 560, roughly 75 km southwest of Kirkland Lake in the Abitibi greenstone belt. The project covers a large, contiguous land package within the historic Gowganda silver-cobalt camp and benefits from strong infrastructure and year-round access.

The property was returned to Transition by cobalt-focused partner Battery Mineral Resources in 2025. Work completed has included the completion of IP surveys, soil sampling, mapping, mechanical stripping and channel sampling, and 65 shallow drill holes totalling 8,741 metres targeting both Archean-hosted gold and silver-cobalt mineralization in overlying embayment rocks.

Previous drilling returned notable gold intercepts such as 2.37 g/t Au over 7.06 metres, 82.5 g/t Au over 0.4 metre and 1.63 g/t Au over 11.52 metres (see news release dated April 6, 2017). Collectively, results define a robust, structurally controlled system with growing evidence for a larger, continuous gold-bearing corridor that remains open along strike and at depth, underscoring the resource potential of the project.

Approximately three km to the east, drilling on the property completed by former parter Battery Mineral Resources returned high-grade silver-cobalt intervals including 4.75 metres of 1,475 g/t Ag (with 0.50 metre of 13,948 g/t Ag and 0.18 per cent Co) along with additional multihundred-gram silver intercepts (see Transition news release dated April 26, 2022), immediately adjacent to Nord Precious' Castle East 7.5 Moz silver deposit.

Qualified person

The technical elements of this news release have been approved by Benjamin Williams, PGeo (PGO), exploration manager of Transition Metals, and a qualified person under 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 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 funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution.

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