Transition Options the High-Grade Cryderman Au Property, Ontario

Transition Options the High-Grade Cryderman Au

Property, Ontario

Sudbury, Ontario--(Newsfile Corp. - May 15, 2019) - Transition Metals Corp (TSXV: XTM) ("Transition", "the Company") is

pleased to announce that it has entered into an option agreement to acquire a 100% interest in the Cryderman Gold property

located near Shining Tree, Ontario. The property consists of 6 contiguous mining leases cover a historical high-grade lode gold

showing where grab samples collected by the Company in 2018 returned values from trace up to 34.5 g Au/t.

CEO Scott McLean commented, "We are very excited to bring another high-grade gold project into the company.

There is no

record of any exploration on this property since the late 1940's when it saw small scale production.

Recent discoveries in the

area such as IAMGOLD's 10 million oz and growing Cote Gold project

1

and Pan American Silver's 3.0 million oz Juby

project

2

have highlighted the prospectivity of this underexplored section of the southwest Abitibi greenstone belt. We feel we

can advance the project effectively through a systematic, but hands on approach that we plan to initiate this summer for the

purpose of attracting a partner."

1

IAMGOLD News Release dated November 1, 2018.

2

Tahoe Resources News Release dated February 15, 2018

Note:

mineralization hosted at Cote and Juby properties is not necessarily reflective of the mineralization hosted on the

Company's Cryderman Au property.

Transition retains the right and option to earn a 100% interest in the property by issuing $60,000 in cash and $110,000 in shares

to the Vendor and completing $300,000 in work over a 3 year period. If the Company vests its interest, the Vendor would retain a

2% Net Smelter Return royalty (NSR) with Transition retaining the right to buy back 1% NSR for $1.0 million.

About the Cryderman Property

The Property is located in the western portion of the Shining Tree gold camp, approximately 7 kilometres northeast of the town of

Shining Tree, Ontario.

Geologically, the Property is underlain by rocks of the southwest part of the Abitibi greenstone belt

comprised of older Archean ultramafic, mafic and felsic flows, volcaniclastics, interflow epiclastics and chemical sedimentary

rocks in unconformable contact with Timiskaming-type sedimentary rocks and volcanic and volcaniclastic rocks to the north

3

.

These rocks have been offset by late, north-trending, regional faults, such as the Michiwakenda Lake fault. Gold mineralization in

the area appears to be hosted by splay structures related to these faults.

3

Ayer et al. 2013. Ontario Geological Survey, Miscellaneous Release-Data 294.

The occurrence, variously known as the Cryderman, Queen Elizabeth, Cooper-Manwell-Moore, Cryderman-Manwell-Moore,

and/or Featherstone is located on the eastern portion of the property. There is little information relating to historical work as the

property has been held as leases for an extended period of time. A 100 m long and 0.3 to 0.9 m wide, north-striking, west

dipping quartz vein hosted by schistose mafic metavolcanic was described by Ontario Geological Survey

2

. In 1943, Conwest

Exploration

sampled the vein with the best assay being 3.19 oz Au/ton (90.43 g Au/t) over 10 inches (25 cm)

4

. A 1949 report

stated that the Conwest sampling consisted of 23 samples collected at approximately 10 foot (3.0 m) spacing along the length of

the vein which ranged from trace to 3.19 oz Au/t (90.43 g Au/t), with 14 of the samples returning greater than 0.1 oz Au/t

5

(2.83 g

Au/t).

4

Carter (1977) Ontario Geological Survey Geoscience Report 152

5

W.S. Savage (1949) Resident Geologist, Ontario Geological Survey, internal report

A site visit by Transition Metals geologists in November 2018 located an approximately 90 m long trench with partial exposures

of quartz vein and quartz vein bearing rubble. The vein had the strike and dip as described in the OGS report, and appears to

have crack-seal textures with chalcopyrite and pyrite generally constituting less than 1% of the vein. A total of 8 samples were

collected from sites along the length of the vein with the results presented in Table 1:

Table 1:

Assay results for grab samples collected by Transition Metals Corp. in November 2018.

Sample

Au (ppm)

Ag (ppm)

As (ppm)

Bi (ppm)

Mo (ppm)

Te (ppm)

W (ppm)

L782836

<0.001

<0.01

1.60

0.01

1.53

<0.05

1.4

L782837

34.50

17.90

28.90

3.29

2.63

8.54

0.1

L782838

0.03

0.09

1.90

0.02

1.63

<0.05

1.9

L782839

16.20

1.61

13.60

0.12

1.94

0.22

0.3

L782840

7.75

3.64

21.90

0.29

2.41

1.92

0.3

L782841

11.00

22.30

50.80

1.36

2.79

12.85

0.2

L782842

0.03

0.20

11.60

0.04

1.69

<0.05

7.3

L782843

0.25

0.16

10.10

0.02

1.83

<0.05

17.2

These results support the presence of high-grade gold as reported in the historical results. The Company believes the property

is prospective for a high grade, lode gold deposit in an area that has seen limited to no exploration.

A program of mapping

sampling, trenching and data compilation is planned in order to target drilling in the future.

Qualified Person

The technical elements of this press release have been approved by Mr. Thomas Hart, P.Geo. (APGO), a Qualified Person

under National Instrument 43-101. All analytical work performed was conducted at ALS Chemex Laboratories with analyses

completed in North Vancouver, B.C The quality system used by ALS-Chemex that meets all requirements of International

Standards ISO/IEC 17025:2005 and ISO 9001:2015.

Transition Metals Corp

Transition Metals Corp (TSXV: XTM) is a Canadian-based, multi-commodity project generator that specializes in converting

new exploration ideas into discoveries. The 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/44811