Mr. Scott McLean reports

TRANSITION METALS CORP. CLOSES $618,844 PRIVATE PLACEMENT

Transition Metals Corp. has closed its previously announced non-brokered private placement. A total of 5,381,250 flow-through units were issued for gross proceeds of $618,844. The FT units consist of one common share and a half of one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price of 11.5 cents for a period of 18 months from closing. The FT units are intended to be donated to a charity by the purchaser(s) and subsequently sold to back-end buyers for eight cents per FT unit.

A finder's fee was paid in connection with the offering to finders that included Haywood Securities Inc. and StephenAvenue Securities Inc., and consisted of cash fees in the aggregate amount of $16,500 representing an aggregate commission of 6 per cent of the FT units sold to investors introduced by the finders. In addition, a total of 206,250 broker warrants were issued to the finders. Each broker warrant entitles the holder to purchase one common share at an exercise price of 11.5 cents for a period of 18 months from closing.

The proceeds will be used to carry out exploration at the company's Gowganda gold and Saturday Night projects in Ontario, Canada. Fifty per cent of the proceeds from the FT units will qualify as Canadian critical metal exploration expenses.

The securities issued in connection with the offering, including any common shares issued upon exercise of the warrants or the broker 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.

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.

We seek Safe Harbor.