Transition Metals to resume drilling at Saturday Night Project; updates Pike Warden Project, Yukon

Transition Metals Corp. [TSXV: XTM] provided an update following the US$2.5 million (approximately $3.4 million) non-dilutive capital injection through the sale of its interest in the Fostung property.

Scott Mclean, CEO, commented: “The proceeds from the Fostung sale have significantly enhanced our balance sheet without shareholder dilution. This influx of capital will allow us to aggressively advance exploration on our high-potential Pike Warden and Saturday Night projects and allows us to look to continue the unlocking of meaningful value from our strong portfolio of royalties, investments and non-core assets. This disciplined approach aligns with our strategy of delivering sustainable growth and shareholder value in an improving metals market.”

Key projects and value drivers for 2025 – Pike Warden: The Pike Warden project, located 65 km south of Whitehorse, Yukon Territory, and within the traditional territory of the Carcross Tagish First Nation, is an emerging high-grade polymetallic epithermal and porphyry copper property. The project sits on the northern rim of the Bennett Lake complex – one of Canada’s largest collapsed volcanic calderas – offering a highly prospective geodynamic setting for large-scale mineral systems.

To date, more than 1,800 rock and soil samples have been collected, returning elevated concentrations of gold, silver, copper and molybdenum. Over 25 polymetallic showings have yielded exceptional assays, including values up to 48.1 g/t Au, 11,270 g/t Ag, 7.49% Cu and 2.37% Mo.

Advanced geophysical and lineament interpretation, incorporating high-density lidar (light detection and ranging), orthophoto analysis, geophysics including the recent over 600 line km of ZTEM data, have defined four primary large-scale targets-three potential centres for porphyry Cu-Mo systems, and one epithermal Au-Ag system.

Upcoming work at Pike Warden will be announced within the coming weeks once permits and contractors are secured. Work will be centred around refining and delineating the Copper North and Copper Junction porphyry targets, as well as the ERT Au-Ag target.

Saturday Night: The Saturday Night project, located 30 km northwest of Thunder Bay, northwestern Ontario, is an emerging critical metals property. The project features a large PGM-enriched polymetallic intrusion related to the Midcontinental Rift. Discovered by the company in 2016, the company has completed three drill holes to date, each intersecting encouraging mineralization.

The initial hole (SN-16-01) intersected 6.25 metres grading 1.07 g/t PGEs (Au plus Pt plus Pd), including 0.30 metres at 4.0 g/t PGM, 0.56% Cu and 0.19% Ni. Additional geophysics and modelling since the initial discovery has expanded the footprint of the host intrusion, which was further tested with two additional holes drilled in January, 2025, returning encouraging mineralization within hole SN-25-02, including 14.00 metres at 1.04 g/t PGEs and 0.19% Cu.

Hole SN-25-03, which intersected a thick package a rift intrusion inclusive of reef-style mineralization; however, to stay within budget, the hole was terminated at a depth of 830 metres, before being able to reach the ultramafic series and basal contact, where mineralization was anticipated. These results compare favourably with early stage drilling which was conducted at Sunday Lake, affirming the Saturday Night the project’s strong upside potential.

Planned work at Saturday Night will be announced once contractors are secured, with current plans focused on deepening hole SN-25-03 and conducting additional drilling to test the basal contact of the intrusion, where thicker accumulations of high-grade basal sulphides are anticipated.

In addition to its core assets, Transition Metals holds a diversified portfolio of royalties, investments and exploration-stage properties across Canada. The recent monetization of the Fostung interest highlights the potential for realizing substantial value from non-core holdings.

The company is actively evaluating options for several high-quality assets, including: Desert Lake, a district-scale uranium property (Northwest Territories); Wollaston Copper, large sediment-hosted Cu-Au system (Saskatchewan); Gowganda Gold, an Abitibi lode gold and high-grade silver (Ontario); Maude Lake, a high-tenor Ni-Cu system (Ontario); and Jolly Gold, a district-scale gold and polymetallic property (Ontario).

Transition invites parties interested in discussing, acquiring or partnering on these or other high-quality projects within its portfolio to contact the company.