01 December 2011

Drilling by Transition Metals returns elevated gold values at Haultain

Posted in Press Release, 2011, Gowganda Gold

December 1, 2011 - Transition Metals Corp. (XTM – TSX.V) - ("Transition Metals" or the "Company"), is pleased to report positive assay results from diamond drilling completed in September and October of 2011 on its 100% owned Haultain Gold property near Gowganda, Ontario. Elevated gold values were encountered in all but one drill hole and two near surface intervals of higher grade gold mineralization were identified as part of the initial phase of drilling on the property.
Highlights include results from hole TMH11-09, which intersected a 7.06 metre interval grading 2.37 g/t gold from 8.42 metres to 15.48 metres with a separate 82.5 g/t gold assay returned over a 0.36 meter interval located at 35.0 metres downhole. Mineralized intervals from holes TMH11-03 through to TMH11-16 are presented below in Table 1.

Greg Collins, Chief Operating Officer of Transition Metals commented on these results, stating, "We are encouraged by the results from this initial round of drilling that targeted near surface gold occurrences. Drilling conducted in the vicinity of the Annie's Ladder was successful in defining the two higher grade gold mineralization zones which remain open for further exploration at depth and along strike. Additional drilling completed 400 metres along strike to the west of the Annie's Ladder also intersected elevated gold values further highlighting the lateral extent of widespread gold mineralization on the property."

Table 1. Average length weighted assay intervals from initial phase of drilling completed on the Haultain Property in October, 2011

Hole        From(m)   To(m)   Length(m)   Au(g/t)
TMH11-03 42.16 43.80 1.64 0.82
And 58.80 63.16 4.36 1.94
Including 60.58 62.58 2.00 3.32
And 93.44 98.00 4.56 0.77
TMH11-04    15.06     15.86     0.80       2.96
And 24.15 24.56 0.41 1.82
And 29.65 30.73 1.08 1.77
And 43.24 47.74 4.50 0.52
And 78.15 82.50 4.35 0.51
TMH11-05    13.97     14.60     0.63       1.34
TMH11-06    91.17    107.26    16.09       0.66
Including 104.00 107.26 3.26 1.32
Including 104.00 107.26 3.26 1.32
TMH11-07     8.92     13.50     4.58       1.56
And 93.60 97.18 3.58 1.02
And 41.00 42.50 1.50 3.98
TMH11-08     2.77      6.10     3.33       1.97
And 20.95 27.22 6.27 0.61
And 50.30 51.41 1.11 2.73
TMH11-09     8.42     15.48     7.06       2.37
Including 9.97 11.00 1.03 7.26
And 34.30 35.00 0.70 42.71
Including 34.64 35.00 0.36 82.50
TMH11-10    10.57     11.84     1.27       1.00
                           TMH11-11        No Significant Values 
TMH11-12    74.26     75.75     1.49       0.72
TMH11-13    18.91     21.53     2.62       1.07
TMH11-14    44.84     46.15     1.31       2.06
TMH11-15    44.62     45.12     0.50       0.51
TMH11-16    37.40     38.10     0.70       1.36

*Length intervals are actual core length. The true thickness of mineralized intervals has not been estimated.

Table 2 presents information concerning the location and orientation of holes completed to date.

Table 2. Drill Hole Location and Collar Information

Hole	  Easting(m)  Northing(m)  Elevation(m)	 Length(m)  Azimuth   Dip	Assays
TMH10-01 517527 5279788 300 101 175 -45 Previously Reported
TMH10-02 517550 5279753 305 65 320 -50 Previously Reported
TMH11-03 517578 5279809 300 101 180 -50 Updated
TMH11-04 517531 5279810 300 87 180 -50 Updated
TMH11-05 517488 5279793 305 95 180 -50 Updated
TMH11-06 517585 5279750 303 185 300 -45 Updated
TMH11-07 517555 5279770 305 56 230 -50 Updated
TMH11-08 517525 5279752 305 104 300 -50 Updated
TMH11-09 517557 5279770 305 35 200 -45 Updated
TMH11-10 517522 5279740 305 131 180 -50 Updated
TMH11-11 517560 5279625 305 83 200 -50 Updated
TMH11-12 517625 5279808 305 101 180 -50 Updated
TMH11-13 517200 5279785 305 53 180 -60 Updated
TMH11-14 517195 5279840 305 98 185 -50 Updated
TMH11-15 517085 5279810 305 50 180 -50 Updated
TMH11-16 517182 5280046 305 77 175 -60 Updated

Collins continues, "So far, our drill program has mainly investigated the gold potential of the centrally located Swain syenite dyke swarm. As drilling continues, we will now start to evaluate the near surface gold potential of the adjacent North and South dyke swarms."

Ongoing Drill Program

To date, 14 shallow drill holes for a total of 1,255 metres of a proposed 2,500 metre diamond drill program have been completed. A diamond drill rig is currently on site and has been contracted to complete the remainder of the drill program. Please refer to Figure 1 for a location map depicting the location of all completed and planned drill holes. Figure 2 presents an interpreted geological vertical cross section of the Annie's Ladder showing illustrating highlight intervals.

About The Haultain Property
The Haultain Property is located near Kirkland Lake Ontario, approximately 1 kilometre west of the historical silver producing deposits of Gowganda. The property contains a new gold discovery made by the Company in 2010 (please refer to the February 17, 2011 press release for additional details) which it has further explored by conducting additional mapping, mechanical stripping and channel sampling during the summer of 2011. This work has led to the discovery of additional zones of gold mineralization at surface (please refer to news releases dated September 8, 26 and November 7, 2011), which are the focus of the ongoing drill program. The Haultain Gold Property consists of 20 staked and optioned mining claims (1,296 Ha) located in Haultain and Nicol townships subject to the terms of an option agreement dated July 1, 2010.

About Transition Metals Corp
Transition Metals is a public mining exploration company listed on the Toronto Venture Exchange (TSX) under the trading symbol – XTM.V. It is focused on the identification, exploration and development of new gold opportunities in established and emerging gold districts in Canada. The Company currently owns or controls an interest in several early stage gold exploration properties in Ontario and British Columbia. The Company is committed to building shareholder value through the identification and development of new low cost, high quality exploration projects while minimizing shareholder dilution through funding partnerships and revenue generating opportunities.

Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), a Qualified Person under the National Instrument 43-101 guidelines. All core samples were half sawn at a controlled location by Company representatives under the supervision of Mr. Thomas Hart, P.Geo (APGO), and transported directly by the company to the lab. Transition Metals employs in-house QA/QC procedures that conform to industry best practices. All analytical work performed on core samples was conducted at ALS-Chemex with sample preparation completed in Sudbury, Ontario and analyses completed in North Vancouver, B.C. The quality system used by ALS-Chemex complies with international standards ISO 9001:2000 and ISO 17025:2005.

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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended , or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption there from. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Transition Metals in any jurisdiction.

Figure 1: Drill Hole Location Map


Figure 1: Drill Hole Location Map


Further information contact:

Scott McLean
President and CEO
Transition Metals Corp.
This email address is being protected from spambots. You need JavaScript enabled to view it.

TMX Equicom
Patrick Piette
Mining Group
(416) 815-0700 – extension 267


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