Mr. Scott McLean reports

TRANSITION METALS PROVIDES CORPORATE UPDATE AND 2026 OUTLOOK

Transition Metals Corp. is discussing key accomplishments in 2025, and has outlined its plans and value catalysts for 2026. Against the backdrop of improved market sentiment and broader commodity strengths, Transition's diversified, Canada-focused portfolio provides multiple paths for value creation, and management believes that 2026 will be an active year for both exploration execution and portfolio advancement.

Commenting, chief executive officer Scott McLean stated: "Looking ahead to 2026, we are optimistic about continued progress as investor sentiment and activity across the sector strengthen. With a more constructive commodity market and renewed investor interest in the junior mining sector, we believe we are well positioned to unlock value across our portfolio of projects, investments and royalty interests. Our focus this year is to advance exploration at priority assets while expanding our investor outreach in the United States. The Transition Metals team is looking forward to a year of growth and value creation, driven by steady exploration execution and continued progress across our portfolio."

2025 technical accomplishments

Through 2025, the company remained focused on exploration activities at two of its key projects: Pike Warden, an emerging epithermal and porphyry system project in Yukon, and Saturday Night, an early rift platinum-group-metal-copper-nickel discovery near Thunder Bay, Ont.

Pike Warden:

• Since commencement of work in 2022, the company has amassed more than 1,500 rock and soil samples, high-resolution airborne geophysics, lidar, ortho-air photos, and multispectral imagery, which have been used to outline drill targets in five prospective zones for copper porphyry and epithermal gold-silver systems.
• Two thousand twenty-five exploration included a ground induced polarization survey focused around the Copper Junction and Copper North target areas, along with mapping and field sampling that uncovered four new polymetallic showings, with select samples grading up to greater than 10,000 parts per million silver, 2.8 grams per tonne gold, 1.9 per cent copper, 3.41 per cent molybdenum and 4.31 per cent lead (see news release dated Oct. 14, 2025).
• Two targeted drill programs have been completed at Pike Warden to date:
  • In 2023, reverse circulation drilling at the ERT target returned 12- to 21-metre intervals grading 50 to 100 g/t Ag with highs of 468 g/t (see news release dated Jan. 16, 2023).
  • In 2025, diamond drilling (see news release dated Oct. 6, 2025) saw the completion of two new holes (PW-25-01 and PW-25-02) totalling 504 metres, which tested logistically accessible targets associated with the Copper Junction targets. Although no economic mineralization was encountered, favourable structure and alteration intersections have increased the geological understanding of the targeted project area and will inform future programs.
• Additional exploration work is recommended for 2026-2027, inclusive of targeted drilling, where feasible, at Copper North, Saddles and ERT, in conjunction with petrographic studies, to further assess the scale of mineralization.

Saturday Night:

• Prior to 2025, the company completed ground magnetic and airborne mobile magnetotelluric geophysical surveys over portions of the Saturday Night project. In 2016, the company completed one diamond drill hole (SN-16-01), totalling 601 metres, which intersected 6.25 metres averaging 1.07 g/t platinum group metals, including a higher-grade section of 4.0 g/t PGM and 0.56 per cent copper over a core length of 0.30 metre (see news release dated Jan. 23, 2017).
• Through 2025, the company completed two drill programs at the Saturday Night project, both supported in part from the Ontario government through the 2024-2025 and 2025-2026 Ontario junior exploration programs.
• Diamond drilling was initiated in January, 2025, and completed in February, 2025, which saw the completion of two holes (SN-25-02 and SN-25-03), totalling 1,417 metres, which intersected thick rift-related intrusive suites, with broad intervals of elevated nickel-copper and PGM mineralization near the basal contact:
  • Hole SN-25-02 returned 14.00 m grading 1.04 g/t PGEs with 0.19 per cent Cu, including 1.86 m of 2.55 g/t PGMs and 0.46 per cent Cu (see news release dated Feb. 28, 2025).
  • Hole SN-25-03, designed as a larger downdip stepout, due to intersecting thicker stratigraphic sequences of the Upper and Lower Gabbroic sequence, and to stay within budget, was terminated at a depth of 830 metres, before being able to reach the ultramafic series and basal contact, where mineralization was anticipated (see news release dated March 26, 2025).
• Drilling at the project resumed in November, 2025 (see news release dated Nov. 10, 2025), and completed in December, 2025, and saw the extension of hole SN-25-03 toward the basal contact and the addition of two new holes (SN-25-04 and SN-25-05), totalling a combined 1,463 metres:
  • All drilling intersected and confirmed a large, layered rift intrusive, with PGM-Cu-Ni mineralization occurring along basal contacts. Core has been sampled and submitted for analysis, with assay results pending.
  • Preliminary geological modelling of the basal mineralized zone appears to display a footprint, which measures approximately 800 m by 200 m and remains open in all directions.
  • Assay results will be released once available, with additional geophysical surveys and targeted drilling recommended as a next step to better refine geological and mineralization controls along basal contacts.

2025 corporate activities

In 2025, Transition Metals strengthened its financial and strategic position by generating income from the monetization of projects and securities within its portfolio, recovery of exploration funds through Ontario and Yukon government funding programs, and raising capital to advance exploration activities on its key projects. These activities and financing further validate the company's business model and its ability to attract capital to advance its exploration pipeline. The company:

• Sold its 50-per-cent share in the Fostung tungsten project near Espanola to U.S. Antimony in June, 2025, for $2.5-million (U.S.) ($3.5-million (Canadian)) retaining a 0.25-per-cent net smelter royalty interest (see news release dated June 27, 2025);
• Recovered $440,000 through supported Ontario and Yukon government grant funding programs;
• Sold securities for revenue of $35,000;
• Raised $758,133 through the sale of 10,108,439 critical flow-through shares toward the completion of programs of drilling at the Pike Warden and Saturday Night project (see news release dated Oct. 2, 2025).

Plans for 2026

As Transition Metals enters 2026, the company is well positioned to accelerate exploration, capture emerging market opportunities and enhance shareholder value. As outlined below, management's 2026 priorities include advancing key projects, strengthening corporate visibility and outreach, and solidifying existing relationships while also building new ones.

Advancing exploration on key projects

The company will continue to invest in key assets, with planned 2026 work programs including:

• Additional exploration activities at Pike Warden, focusing on further definition of drill opportunities at multiple porphyry and epithermal target areas;
• Continued exploration and geological interpretation at Saturday Night, building on the mineralized intervals intersected in 2025;
• Rejuvenating exploration on the Gowganda gold project in the heart of the Abitibi; given rising gold and silver prices, this is an excellent opportunity to continue to advance the known high-grade mineralization opportunities on the property.

Strengthening corporate visibility and market access

The company remains committed to enhancing its market presence and expanding its investor base:

• The company is working toward securing its ability to allow U.S. investors to trade its securities in the United States by seeking Depository Trust Company eligibility, followed by expanded investor engagements within the United States.
• Transition Metals will attend key industry events, building on its established presence in the exploration sector, providing investors and industry partners additional opportunities to connect with management.
• The company will advance its marketing programs, and has recently engaged Investors News Network, Mining.com.au and the Chinese Investment Club Inc. to enhance market visibility for the company and to disseminate and expand the Transition Metals investment opportunity to a broader market.

Portfolio optimization and partnerships

With a broad pipeline of exploration-stage assets, the company will continue leveraging its project generator model to:

• Advance projects through joint ventures and earn-in partnerships;
• Monetize certain assets through strategic transactions; and
• Create value through royalties, equity holdings and retained project interests.

2026 AME Roundup Conference

Company personnel, including chief executive officer Mr. McLean, chief operating officer Greg Collins and corporate development manager Bill Stormont will be exhibiting in person at the AME Roundup 2026 in Vancouver from Wednesday, Jan. 28, to Thursday, Jan. 29, in AME's project generators hub. Inquiries to arrange meetings can be directed to Mr. Stormont by e-mail (bstormont@transitionmetalscorp.com) or by telephone (778-868-9571).

Qualified person

The scientific and technical content of this release has been reviewed and approved by Benjamin Williams, PGeo (PGO), exploration manager at Transition Metals, 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 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 shareholders' equity dilution.

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