Mr. Scott McLean reports

TRANSITION METALS EXTENDS GEOCHEMICAL FOOTPRINT OF HAULTAIN GOLD SYSTEM AND IDENTIFIES NEW LARGE-SCALE EXPLORATION TARGETS AT GOWGANDA PROJECT, ONTARIO

Transition Metals Corp. has released results from an extensive mobile metal ion soil geochemical survey at its 100-per-cent-owned Gowganda gold project in Ontario's Abitibi greenstone belt. The 2026 program in Gowganda collected more than 1,300 B-horizon soil samples across an approximately 2.5-by-1.5-kilometre area. Results outline elevated gold and associated pathfinder element responses coincident with known bedrock mineralization and have identified additional anomalous trends extending beneath cover along interpreted structures, expanding the exploration footprint of the Haultain gold system.

Company chief executive officer Scott McLean stated: "The 2026 program at Gowganda has expanded the exploration footprint of the Haultain gold system by approximately 1,200 metres and highlighted several structural trends that are interpreted to control mineralization. We are integrating these new geochemical results with our geological, geophysical and drilling data sets to refine specific drill targets for future exploration."

Haultain gold system

The 2026 soil sampling program collected more than 1,300 B-horizon samples for analysis by SGS using its mobile metal ion methodology. Samples were collected at approximately 25-metre centres, along 100-metre-spaced lines, covering an approximately 2.5-by-1.5-kilometre area, focused around known bedrock mineralization areas and expanding outward. MMI analysis measures concentrations of mobile metal ions that may migrate upward from deeper mineralized sources into near-surface materials such as soil, sand and till. Anomalous concentrations of gold and associated pathfinder elements may therefore help identify exploration targets in areas where bedrock is covered.

Results from the 2026 soil survey show a strong spatial correlation between elevated concentrations of gold and associated pathfinder elements (including silver, arsenic and copper) and areas where previous work has identified gold mineralization in bedrock and at surface. The survey also identified elevated gold and pathfinder element responses extending beneath cover along interpreted favourable structures. Several of these geochemical trends extend beyond areas tested by historical trenching and drilling, and therefore represent new targets for follow-up exploration.

When integrated with previous drilling, mapping and surface sampling, the 2026 soil geochemistry further supports the interpretation of a broad, structurally controlled gold-bearing hydrothermal system at the Gowganda project and has elucidated a significant, large geochemical anomaly that requires drill testing. Additional surface sampling, mechanical trenching and diamond drilling will be required to determine the source, nature, continuity, grade and potential significance of mineralization associated with these newly discovered soil anomalies.

Next steps

The company is integrating the 2026 MMI soil geochemistry with results from geological mapping, mechanical stripping, channel sampling, historical drilling and geophysical data sets to refine the geological and structural interpretation of the Haultain gold system and prioritize targets for follow-up exploration. Assay results from channel sampling completed during the 2026 field program remain pending and will be incorporated into this interpretation as they become available. Emphasis will be placed on evaluating anomalous gold and pathfinder element trends that extend beneath cover along interpreted favourable structures and beyond areas previously tested by surface work or drilling. The combined results will be used to rank priority targets and guide the design of follow-up exploration, including additional surface work where warranted, with the objective of advancing the highest-priority targets toward a potential diamond drilling program in 2027.

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, approximately 75 kilometres southwest of Kirkland Lake. The project comprises a large, contiguous land package within the historic Gowganda silver-cobalt camp in the Abitibi greenstone belt and benefits from established infrastructure and year-round access.

The project is located within approximately 100 kilometres of three producing gold mines: Iamgold Corp.'s Cote gold mine, Alamos Gold Inc.'s Young-Davidson mine and Agnico Eagle Mines Ltd.'s Macassa mine. The project is also located approximately 10 kilometres east of McFarlane Lake Mining Ltd.'s Juby project. The company cautions that mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Gowganda project. Work to date on the project has included the completion of induced polariozation 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 on the Gowganda project returned notable gold intercepts, including 2.37 grams per tonne gold 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). Together with the surface and geochemical results, these intercepts support the interpretation of a structurally controlled gold system that remains open along strike and at depth. Further drilling is required to assess the continuity, geometry and potential scale of the mineralized zones.

Approximately three kilometres east of the Haultain area, drilling completed on the project by former partner Battery Mineral Resources returned high-grade silver-cobalt intervals, including 4.75 metres grading 1,475 g/t Ag, with 0.50 metre grading 13,948 g/t Ag and 0.18 per cent Co, together with additional multihundred-gram silver intercepts (see Transition news release dated April 26, 2022).

Qualified person

The technical elements of this news release have been approved by Benjamin Williams, PGeo (PGO), exploration manager of Transition, a qualified person under National Instrument 43-101.

About Transition Metals Corp.

Transition is a Canadian multicommodity exploration company. Its award-winning team of geoscientists applies extensive exploration experience to generate and test new mineral exploration concepts, often in underexplored areas where properties can be acquired at an early stage. The company advances selected projects independently and through joint ventures in which partners finance portions of higher-risk drilling and exploration, helping Transition conserve capital and limit shareholder dilution.

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