Transition Metals Corp. provided an update on its Pike Warden Au-Ag-Cu Property located approximately 65 kilometres southwest of Whitehorse. In January, the Company disclosed results from the first ever program of drilling completed on the property which returned significant silver values.

The Company considers the Pike Warden project to be one of its key value creating projects for 2023. Highlights of work currently in progress, and achievements of 2023 thus far, include significant progress with the initiation of a mineralogical study, data interpretation, magnetic modeling, exploration permitting, and logistical planning. Exploration Plans for 2023: The Company intends to complete a program of work consisting of systematic prospecting, mapping, and hand trenching across the property to follow up on results acquired in 2022.

This work aims to further define and discover additional structural trends, alteration footprints, and zones of mineralization, particularly in the underexplored northern claims which were not worked in 2022. In addition, an RC drill program is also being considered, to further evaluate the extent of mineralization at the ERT Zone and additional high-priority showings on the property. Syncroton Mineral Study: Synchrotron mineral cluster analysis was performed on 57 pulp samples by Dr. Lisa Van Loon of LISACAN Analytical Solutions (LISACAN) and Dr. Neil Banerjee, P.Geo., of Western University's Department of Earth Sciences.

The selected rock samples are a representative suite of lithologies proximal to the more than 18 sites of Au, Ag, Cu, Pb, and Zn mineralization identified to date across the approximately 10 kilometre wide property. The synchrotron is a type of circular particle accelerator that is an extremely powerful source of broad-spectrum electromagnetic radiation (e.g., visible light, infrared, UV, & X-rays), approximately 10 billion times brighter than the sun. Synchrotron radiation powder X-ray diffraction (SR-pXRD) provides a rapid, high-resolution analytical technique for mineral exploration.

Cluster analysis performed on the diffractograms generated by the synchrotron is then can be used to highlight mineralogical similarities between samples that may be associated with a large mineralizing system. The study identified 7 mineralogical domains. Domain 1 is the largest and includes 47 samples (82%).

This domain is associated with the highest gold and silver concentrations, suggesting that the mineralizing system is large and spans the entire sampled area. Domain 1 can be further sub-divided into 2 sub-domains (1A: 30 samples & 1B:17 samples). Samples within Domain 1A span the entire sampled area.

Samples within Domain 1B trend in a NNE-SSW direction. The study suggests that samples from Domains 1A and 1B represent the greatest mineralizing potential on the property. Work associated with this study remains ongoing towards better understanding the detailed mineralogy associated within the identified domains.

Magnetic Data Modeling and Review: The Company has initiated work to account for the topography and complete a detailed 3D magnetic inversion model of the property-scale, high resolution airborne magnetic data collected by the Optionor in 2021. The magnetic products and historical data will aid Company geologists in developing a 3-D geological model.