Transition Metals Commences Follow-up Drilling at Saturday Night PGM Project amid Strengthening Platinum Markets
Transition Metals Commences Follow-up
Drilling at Saturday Night PGM Project amid
Strengthening Platinum Markets
Sudbury, Ontario--(Newsfile Corp. - November 10, 2025) - Transition Metals Corp.
(TSXV: XTM)
("
Transition
" or the "
Company
") is pleased to announce that it has resumed drilling at the Company's
100%-owned Saturday Night Project, located approximately 30 kilometres northwest of Thunder Bay,
Ontario, (Figure 1).
The program is designed to follow up on encouraging results reported earlier in the
year that returned assays up to
1.44 g/t Pt, 0.90 g/t Pd, 0.21 g/t Au
(collectively 2.55 g/t 3E PGM) along
with
0.12% Ni and 0.46% Cu
within a 14.00 metre interval grading
1.04 g/t 3E PGM and 0.19% Cu
(see Transition Metals' news release of
February 28, 2025
, and
March 26, 2025
).
The new drilling will
target additional zones along the basal contact of the Saturday Night Intrusion to further assess the PGM-
nickel-copper potential of this large, critical-element-enriched system. A ground magnetotellurics (MT)
survey conducted by Transition in 2019 indicated that the Saturday Night Intrusion appears open in all
directions, potentially extending to a depth of up to 1,000 metres (see Transition Metals' news release of
May 6, 2019
).
Figure 1:
Saturday Night Property Location Map on Regional Total Field Magnetics
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2766/273767_95b721a8b4346ba3_001full.jpg
CEO Scott McLean commented,
"Our goal with this program is to build on our previous exploration
work at Saturday Night and extend hole SN-25-03, as well as test additional basal-contact targets.
SN-
25-03 ended within a thick sequence of rift-related gabbro, the same unit that hosts the longest and
highest-grade intercepts at our nearby Sunday Lake discovery.
This program aims to expand the
footprint of mineralization and refine our understanding of the basal cumulate geometry and its
potential to trap sulphide mineralization. We are excited to test this highly prospective target and look
forward to updating the market once assays are returned."
Strengthening PGM Markets
Global fundamentals for platinum group metals (PGMs) have strengthened notably through 2025, with
platinum and palladium prices up more than 50% since May 2025.
This renewed strength is driving
investor interest and highlighting the need for new, secure sources of PGM supply in stable jurisdictions
like Canada.
Transition believes that advancing high-quality PGM projects such as Saturday Night is
particularly well-timed in this favourable market environment.
Program scope and objectives
The current program will build on work completed earlier this year, where hole SN-25-02 intersected
14.00 metres grading
1.04 g/t 3E (Au + Pt + Pd) with 0.19% Cu
, including shorter higher-grade
intervals (see Transition Metals news release of
February 28, 2025
).
Hole SN-25-03 intersected more
than 450 metres of rift-related gabbroic intrusion-significantly thicker than previously drilled sequences-
and was terminated before reaching the ultramafic basal contact due to budget constraints (see
Transition Metals news release of
March 26, 2025
).
The new drilling will deepen SN-25-03 by up to 300
m to test the basal contact and related mineralized zones, with additional holes targeting the shallower
up-dip extension of mineralization intersected in hole SN-25-02.
A minimum of 1,500 m of drilling is
planned before year-end.
About the Saturday Night Project
The Saturday Night Project, wholly owned by Transition Metals, comprises 63 staked mining claims
situated in Fowler Township, located approximately 30 kilometres northwest of Thunder Bay, Ontario,
within the Robinson Superior Treaty area.
The project has year-round road access to a main highway
and is close to infrastructure.
The exploration work to date has confirmed that a magnetic anomaly
identified on the Property is linked to an underlying mafic-ultramafic intrusion (SNI), which is interpreted
to have originated during the Proterozoic era and is associated with the renowned Midcontinental Rift
(MCR).
The MCR is a geological feature that extends over 2,000 kilometres across the heart of North America.
It
formed around 1.1 billion years ago as the North American craton began to rift.
Notably, the early stages
of this rift (referred to as 'early-rift') are associated with the presence of mafic to ultramafic intrusive rocks
that contain significant quantities of platinum group metals (PGMs).
Nearby MCR related deposits
include the Thunder Bay North and Sunday Lake deposit.
The Sunday Lake deposit was discovered by
Transition in partnership with Impala Platinum in 2013.
Other rift related Ni-Cu and PGM bearing
systems include the Eagle deposit located in Michigan, and the Tamarack and Duluth deposits located
in Minnesota.
The Saturday Night Project is currently in the early exploration phase, with ongoing
assessments aimed at determining the potential of the Property to host PGM mineralization of interest.
The Property is subject to an underlying 1.0% Net Smelter Return royalty (see company press releases
dated
September 8, 2020
).
Update on Critical Flow Through Share Offering
Further to the previously announced closing of the Critical Flow Through Share ("
CFT Share
") Offering
("
CFT Offering
") (see company press releases dated
October 2, 2025
), the Company confirms that
certain officers and directors of the Company participated in the CFT Offering, purchasing an aggregate
of 333,333 CFT Shares for an aggregate of $24,999.98, which constitutes a "related party transaction"
for purposes of Multilateral Instrument 61-101 -
Protection of Minority Security Holders in Special
Transactions
("
MI 61-101
").
Such participation is exempt from the valuation and minority approval
requirements of MI 61-101 by virtue of the fact that the Company is not listed on a specified market set
out in section 5.5(b) of MI 61-101 and the value of CFT Shares subscribed for by such officers and
directors is less than $2,500,000 in accordance with the requirements of section 5.7(b) of MI 61-101.
The securities issued in connection with the CFT Offering, including any common shares issued upon
exercise of the compensation warrants, are subject to a four-month restricted resale period and
applicable securities legislation hold periods outside of Canada from the closing date ending on
February 2, 2026.
Qualified Person
The technical elements of this news release have been approved by Mr.
Benjamin Williams, P.Geo.
(PGO), Exploration Manager of Transition Metals Corp., and a Qualified Person under National
Instrument 43-101.
About Transition Metals Corp.
Transition Metals Corp.
(TSXV: XTM) is a Canadian-based, multi-commodity 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 funding a
portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize
shareholder's equity dilution.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes
"forward-looking information" within the meaning of Canadian securities law.
Such forward-looking
information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects",
"believes", "may", "will" and include without limitation, statements regarding estimated capital and
operating costs, expected production timeline, benefits of updated development plans, foreign exchange
assumptions and regulatory approvals.
There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from such statements.
Factors that could
cause actual results to differ materially include, among others, metal prices, competition, risks inherent in
the mining industry, and regulatory risks.
Most of these factors are outside the control of the Company.
Investors are cautioned not to put undue reliance on forward-looking information.
Except as otherwise
required by applicable securities statutes or regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether as a result of new information, future
events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Further information is available at
www.transitionmetalscorp.com
or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/273767