Transition Metals Commences Follow-up Drilling at Saturday Night PGM Project amid Strengthening Platinum Markets

The most recent news release from Transition Metals Corp. (TSXV: XTM) on November 10, 2025, announced the commencement of a follow-up drilling program at its Saturday Night PGM Project in Ontario. The program aims to extend drill hole SN-25-03, which previously ended within a thick sequence of rift-related gabbro before reaching the anticipated ultramafic series and basal contact, and to test additional basal-contact targets. The company reiterated previous drilling results from hole SN-25-02, which intersected 14 metres grading 1.04 g/t 3E PGM (Au+Pt+Pd) with 0.19% Cu. The release also disclosed the closure of a small Critical Flow Through Share offering of 333,333 shares at $0.075 per share, raising $25,000, with participation from company officers and directors.

This news is a routine operational update, confirming the company's planned activities at the Saturday Night Project. The intention to deepen hole SN-25-03 and conduct follow-up drilling was previously communicated in the February 28, 2025, and March 26, 2025, news releases, with the caveat that it would proceed "once funding is secured." The sale of the Fostung property in June 2025, which injected approximately $1.7 million CAD in non-dilutive capital into Transition Metals, and the subsequent $758,133 private placement in October 2025, provided the necessary funding. Therefore, the commencement of this drilling program is an expected execution of a previously disclosed plan, enabled by prior financing activities.

The highlight of 14 metres at 1.04 g/t PGM is a re-statement of results from earlier in 2025 (reported February 28 and March 26), not new discovery information. The small $25,000 Critical Flow Through Share offering appears to be a minor closing tranche or a specific disclosure of related party participation, and does not represent a material new financing event for the company, especially following the much larger property sale and private placement.

Given that the drilling is a planned follow-up and the reported assay results are historical, this news does not present new material information that would significantly alter the company's valuation or outlook beyond what was already anticipated.

Transition Metals Corp. is a Canadian project generator company primarily focused on exploring for critical minerals, precious metals, and base metals in North America. The company's strategy involves identifying, acquiring, and advancing high-quality exploration projects, and then seeking partners to fund further development, thus minimizing dilution for its own shareholders while retaining royalties and equity stakes.

Flagship Projects: * Saturday Night PGM Project (Ontario): This 100%-owned project is considered an emerging critical metals property featuring a large PGM-enriched polymetallic intrusion related to the Midcontinental Rift. The current drilling program aims to expand on previous intercepts, which include 14 metres at 1.04 g/t PGEs and 0.19% Cu. The project is strategically located near infrastructure and is seen as having geological similarities to other significant Ni-Cu-PGM deposits in the region (e.g., Sunday Lake, Thunder Bay North). It is in the early exploration phase. * Pike Warden Project (Yukon): This 100%-optioned property is an emerging high-grade polymetallic epithermal gold-silver and porphyry copper property located within the Bennett Lake caldera complex. Recent summer exploration (2025) identified four new showings with high-grade Ag and Mo assays, and a drill program was recently completed. The company is awaiting assay results from this work. * Homathko Gold Project (British Columbia): Optioned to Aurum Lake Mining Corp., this project has demonstrated high-grade gold potential and recently identified new target areas (Morris South, East Copper) for porphyry copper and epithermal gold-silver-antimony mineralization. Transition Metals maintains an NSR on this project. * Dessert Lake Uranium Project (Northwest Territories): A newly acquired district-scale uranium play, secured for 4 years of exclusive staking rights. The company intends to seek a partner for its advancement.