Transition Metals Reports on 2017 Achievements and 2018 Plans
Transition Metals Reports on 2017 Achievements and 2018 Plans
Sudbury, Ontario, January 18, 201 8 – Transition Metals Corp. (XTM – TSX.V) (“ XTM”
or the “Company”) is pleased to report on key milestones achieved for 2017 and strategic goals
for 2018.
“The past year has been transformative for the Company as we achieved numerous milestones to
position ourselves for an even stronger 2018. Recently completed f inancings for Transition
Metals and one of our private associated companies, Canadian Gold Miner (“CGM”), will allow
us to execute on our ambitious exploration plans this year . We fully expect the successful
execution of our goals will positively impact shareholder value” stated Scott McLean, CEO of
Transition Metals.
Key Achievements in 2017
Closed $1.16 million XTM financing at $0.15 per unit with funds to be used for project
generation and exploration.
Private associated company Canadian Gold Miner (“CGM”) announced strategic
investment by Osisko Mining Inc (“Osisko”). Osisko invested $1 mil lion at $0.20 per
unit and owns 19.9% of CGM. Additionally, CGM raised an additional $0.45 million by
selling $0.25 common flow through shares in late December. Transition currently holds
a 38% stake in CGM.
CGM acquired the DeSantis project, a historical gold producer located in the heart of the
Timmins Gold Camp, and an option on the Catharine Property, a large exploration land
package near its focus area south of Kirkland Lake, Ontario.
CGM optioned its 100% interest in the Golden Elk Project to Explor ex Resources Ltd.
(C-EX) in exchange for $140 ,000, the issuance of 1.7 million Explorex shares and the
completion of $1.275 million in work expenditures over a 3-year period.
XTM signed an option agreement with North American Palladium (“NAP”) and Impala
Platinum Holdings Limited (“Implats”) on the Sunday Lake Pt -Pd Project. NAP has the
right to acquire Implats’ 75% stake in the Sunday Lake Project by completing work
commitments totaling $4.5M and making cash payments of $3.5M over 5 years . The
Company maintains a 25% free carried interest to the completion of a Feasibility Study
and is entitled to 10% of the NAP cash payments.
CGM optioned the Jumping Moose and Elephant Head projects, located close to the Côté
Gold deposit near Gogama, Ontario, to Trelawney Mining and Exploration Inc (a wholly
owned subsidiary of IAMGOLD). Under the terms of the agreement Trelawney can earn
up to 80% interest in each project by providing cash and completing expenditures on any
and each property (see news release, March 6, 2017)
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CGM reported high gold grade of 240 g/t from a 1.23 tonne sample at Bjorkman. The
sample was collected from the 100%-owned West Matachewan project located 25
kilometres along the Cadillac-Larder break west from Alamos Gold’s Young Davidson
Mine. Previous assays of surface grab samples collected from the vein returned values up
to 12,700 g/t (408 oz/t Au)
XTM discovered a new platinum -palladium mineralized intrusion at Saturday Night
Property located 25 km north of Thunder Bay, Ontario. The Saturday Night Intrusion was
discovered by a single, 601 metre hole drilled by the Company that tested an 800 metre
diameter magnetic target that returned 6.25 metres averaging 1.07g/t PGM ’s including a
higher grade section of 4.0 g/t PGM and 0.56% Cu over a core length of 0.30 metre
2018 Plans
The Company has successfully positioned itself for strong growth in 2018. With the completion
of financings within XTM and CGM which it operates, the enterprise is cashed up and will now
focus on key goals set for 2018.
The C ompany will continue to focus on project generative activities and it is anticipated that
partners will announced for key projects such as Janice Lake, Dundonald and Saturday Night.
The Company also expects to report results from the Sunday Lake platinum project where NAP
is currently in the first phase of a $1.5 million work campaign.
With most available projects having been sold or partnered by the end of 2017, t here is now a
need to fill the pipeline with new , high quality projec ts. The C ompany is bullish on sourcing
new energy mineral sources and specifically targeting nickel, copper and cobalt assets to meet
expected demand in the battery technology and electric vehicle markets. The Co mpany plans to
establish 2 to 3 new magmatic sulphide (Ni -Cu-PGM) projects in 2018. In addition to nickel,
copper and cobalt, the Co mpany views gold as a key staple commodity . A focus on emerging
gold districts outside of the Abitibi will result in the acquisition of quality, early st age gold
projects.
CGM will remain focused on gold in the Abitibi. A key objective is to complete an Initial Public
Offering (IPO) in early 2018. As part of the IPO, CGM plans to raise an additional $ 4 million to
facilitate an aggressive drilling progra m on its key property , Lincoln -Nipissing. Results from
work carried out by IAMGOLD on Jumping Moose and Elephant Head as well as by Explorex
Resources on the Golden Elk project are also anticipated.
Sudbury Platinum Corporation (“SPC,” another associated company that XTM operates)
continues to focus on nickel, copper and cobalt opportunities within the Sudbury district. SPC
plans to raise a minimum of $2.5M and complete a 10,000 metre drill campaign on the Aer-Kidd
project as well as further develop deep drill targets on it Lockerby East project.
Exhibiting in Vancouver
Transition Metals will be exhibiting at the Vancouver Resource Investment Conference
2018 (VRIC), Booth #836, from Sunday 21st to Monday 22nd, 2018 and at the AME Round
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Up Project Generators Hub on Monday 22nd. If in Vancouver, do not miss the opportunity
of visiting our booth and having a chat with the Company’s management team.
About Transition Metals Corp.
Transition Metals Corp (XTM - TSX.V) is a Canadian -based, mult i-commodity project
generator that specializes in converting new exploration ideas into C anadian discoveries.
The award-winning team of geoscientists has extensive exploration experience in established,
emerging and historic mining camps and actively deve lops and tests new ideas for discovering
mineralization in places that others have not looked, which often allows the Corporation to
acquire properties inexpensively. The team is rigorous in its fieldwork and combines traditional
techniques with newer one s to help unearth compelling prospects and drill targets. Transition
uses the project generator business model to acquire and advance multiple exploration projects
simultaneously, thereby maximizing shareholder exposure to discovery and capital gain. Joi nt
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.
The Corporation has an expanding portfolio that currentl y includes more than 25 gold, copper,
nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Minnesota and
Saskatchewan.
About Canadian Gold Miner Corp
Canadian Gold Miner Corp. is a private Canadian corporation focused on exploring for gold in
the Larder Lake Mining District near Kirkland Lake. The Company was founded by Transition
to leverage its data, expertise and extensive portfolio of high quality g old projects within the
district. CGM has now assembled a dominant land position in excess of 215 square kilometres
around the Cadillac Larder, Lincoln -Nipissing and Ridout structures in the southwestern part of
the prolific Abitibi Greenstone belt in Onta rio. The Abitibi Greenstone belt is Canada's most
prolific gold district with excellent mining infrastructure in place.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
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