Mr. Scott McLean reports

TRANSITION METALS ACQUIRES PROSPECTIVE VANADIUM PROJECT IN ONTARIO AND UPDATES FINANCING PLANS

Transition Metals Corp. has staked a 100-per-cent interest in the Empire Lake project, a prospective vanadium property located in Northwestern Ontario approximately 250 kilometres northwest of Thunder Bay. The staking covers a large regional magnetic anomaly associated with an underexplored mafic intrusion known to contain widespread vanadium-rich magnetite mineralization with significant exploration upside.

Commenting on the acquisition, president and chief executive officer Scott McLean stated: "The Empire Lake project provides Transition with exposure to the growing vanadium sector at a time when global supply dynamics and new technologies are driving demand. With increasing interest in vanadium redox flow batteries and evolving steel standards, we believe this project represents a compelling opportunity. Consistent with our business model, we will actively seek a partner to advance exploration and unlock value."

Vanadium is both an industrial metal used in the mature steel industry and a critical commodity tied to emerging battery technologies, with an important role in grid and energy security. While steel accounts for 94 per cent of U.S. vanadium demand today, increased battery production is anticipated to put pressure on supply with vanadium redox flow batteries to account for 17 per cent of demand by 2033, necessitating 7-per-cent annual growth by 2030. In addition, over 90 per cent of global supply is concentrated in China and Russia, creating significant supply chain risks for consumers as the former has imposed restrictions on critical mineral exports and the latter is exposed to sanctions. As recent geopolitical events have demonstrated, securing stable, diversified supplies of critical commodities has become a strategic imperative.

About Empire Lake

The Empire Lake property comprises 97 single-cell mining claims totalling 2,027 hectares. The claims cover a prominent regional magnetic anomaly associated with an underexplored core of the mafic intrusion (Empire Lake intrusion) measuring approximately 3.5 kilometres in length, and is known to host widespread vanadium-rich magnetite mineralization.

Preliminary mapping at Empire Lake showed a mafic layered intrusion extending up to 4.0 kilometres long and up to 3.2 kilometres wide.

Drilling conducted in 1979 and 1985 identified both disseminated magnetite and massive veins of magnetite in drill holes over core lengths up to 42 metres, with no historic assays reported. Subsequent work in included preliminary mapping and sampling programs aimed at defining the grade and extent of the main vanadium-bearing magnetite zone. This work outlined a mineralized zone extending up to 1.8 kilometres in strike length, with widths ranging from 50 to 170 metres.

Work activities completed by Transition Metals in connection with a partnership with Impala Platinum between 2012 and 2014 were initially focused on assessing the potential of the Empire Lake intrusion to host platinum group elements (see company news release dated Dec. 11, 2013). This work returned encouraging results relating to the vanadium potential on the property. Vanadium recoveries from this preliminary testing indicate potential for favourable metallurgical performance.

The company cautions that grab samples are selective by nature and may not be representative of the overall grade or style of mineralization across the property. Further, the historical results referenced herein have been reviewed by a qualified person, including a review of original assessment reports and available supporting data, and are considered to be reliable for the purposes of this disclosure.

Current financing

The previously announced financing (see company news release dated March 2, 2026) has been reduced from an intention to raise $1-million. The company intends to raise up to $750,000 by way of a non-brokered private placement consisting of up to 6,521,739 charity flow-through units at a price of 11.5 cents per CFU. The initial purchasers of the CFU may subsequently donate such CFU to registered charitable organizations, which may in turn choose to sell such CFUs (the reoffered units) to purchasers at a price of eight cents per reoffered unit or sell such reoffered units to purchasers at the reoffer price. The company will not be a party to any such arrangements. The reoffered units will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share in capital of the company at a price of 11.5 cents per common share for a period of 18 months from closing of the offering. A finder's fee may be paid in connection with the offering to finders as determined by mutual agreement between the company and the finders, and is subject to regulatory approval. The finder's fee will consist of 6 per cent in cash for CFUs sold to purchasers introduced by such finders, and non-transferable common share purchase warrants equal to 6 per cent of such CFUs sold to purchasers. The compensation warrants will permit the holder to purchase one common share in the capital of the company at a price of 11.5 cents per common share for a period of 18 month from closing of the offering.

Proceeds from the offering will be used to explore and advance a critical mineral property (Saturday Night platinum group metals) and a precious metal project (Gowganda gold), which are both located in Ontario. The common shares issued in connection with the offering, including any common shares issued upon exercise of the compensation warrants, will be subject to a four-month restricted resale period and applicable securities legislation hold periods outside of Canada from the closing date. Completion of the offering will be subject to all necessary approvals, including the approval of the TSX Venture Exchange. There can be no assurance that the offering will be completed as proposed or at all.

Qualified person

The scientific and technical information contained in this news release has been reviewed and approved by Benjamin Williams, PGeo, exploration manager of Transition Metals, a qualified person as defined 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 financing a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder equity dilution.

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