Transition Metals Corp. reported results from borehole electromagnetic (BHEM) survey work completed on its Maude Lake Property ("the Property") near Schreiber, Ontario. The survey was undertaken to follow up mineralization intersected in 3 holes completed by the Company in the fall of 2022.

Sampling of the mineralized sections returned; 20.01 metres of 0.50% Ni Eq, including 4.00 metres of 0.90% Ni Eq in hole ML-22-01, 7.52 metres of 0.65% Ni Eq, including 1.17 metres of 2.54% Ni Eq in Hole ML-22-02, and 4.04 metres of 0.27% Ni Eq in holeML-22-03. The survey was designed, verified, and modeled by geophysicist Warren Hughes, P.Geo., of East Coast Consulting and completed by Crone Geophysics & Exploration Ltd. utilizing an approximately 500 by 500 metre loop layout. In-loop BHEM surveys were completed in holes ML-22-01, ML-22-02, & 4.04 metres of 0.,27% Ni Eq in holes ML-22-03.

Results define multiple moderate strength, in-hole and off-hole conductors which are generally indicative of sulphide mineralization on the Property. modeling of the data provides an interpretation of the potential size, depth, strike, dip, and location of conductors relative to the drill hole. Hole ML-22-03 results show an off-hole conductive body to the southeast and down dip of the hole.

This conductive body is more conductive than ML-22-01 and ML-22-02 and is larger in size. This could indicate a bigger, thicker package of mineralization at depth which has yet to be tested. Next steps: Transition Metals plans to test the large off-hole anomaly in the coming weeks and is currently planning additional summer programs including line-cutting, a ground electromagnetic geophysical survey, prospecting, mapping, and drilling.