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11 December 2013
Sudbury, December 11, 2013 – Transition Metals Corp. (XTM – TSX.V, “Transition”, “the Company”), is pleased to provide an update of exploration and corporate activities. Transition is a multi-commodity exploration company that utilizes the project generator business model. The Company is currently advancing five district scale exploration opportunities in Canada. Exploration programs carried out by the Company this year were partially funded by partnerships with Impala Platinum (Implats), Nunavut Resources Corp (NRC) and Sudbury Platinum Corp (SPC) - a privately funded 83% owned subsidiary of Transition. The Company continues to advance exploration work and solicit partners for its Abitibi gold projects in Ontario and Janice Lake sedimentary copper project in Saskatchewan.
CEO Scott McLean commented, “Although it has been a difficult year for the exploration sector in Canada, Transition has managed to continue to advance key projects with the help of our valued alliances and joint venture partners.To date in 2013, approximately $2.3 million in exploration work has been completed and we continue to operate programs designed to generate positive results and drive value for our investors well into 2014.”
Transition is also pleased to announce the appointment of Mr. Chris Chadder, CA to the role of Chief Financial Officer. Effective January 1, 2014, current Chief Financial Officer Anna Ladd will be stepping down to pursue other opportunities. During the interim period, Ms. Ladd will continue to work with management to ensure a smooth and effective transition. Management would like to thank Ms. Ladd for her many contributions and wish her well in her future endeavors. Since the combining of business with HTX Minerals Corp. in August, the company has been aligning corporate activities and streamlining expenditures. Mr. Chadder is a chartered accountant with extensive experience in budgeting, cash forecasting, financial reporting, and project/business valuations and acquisitions. Pursuant to his appointment, Mr. Chadder has been granted 100,000 options exercisable at $0.20 expiring December 5, 2018.
2013 Exploration Highlights:
Thunder Bay PGM’s (Implats Alliance)
Aer Kidd – Ni-Cu-PGM’s (Sudbury Platinum Corp)
Itchen Lake – Nunavut Gold (NRC Alliance)
Abitibi Projects - Gold
Janice Lake - Copper
1 Resource reported by Inco; January 31, 2001 News Release
2 Resource reported by KGHM; January 16, 2012 News Release
3 From Sabina Gold and Silver Corp news release; February 21, 2013
Qualified Person
The technical elements of this press release have been approved by Mr. Greg Collins, P.Geo. (APGO), COO of Transition and a Qualified Person as defined under National Instrument 43-101.
About Transition Metals Corp
Transition Metals Corp (XTM -TSX.V) is a Canadian-based, multi-commodity Project Generator that specializes in converting new exploration ideas into Canadian discoveries. The award-winning team of geoscientists has extensive exploration experience in established, emerging and historic mining camps, and actively develops and tests new ideas for discovering mineralization in places that others have not looked, which often allows the company to acquire properties inexpensively. The team is rigorous in its fieldwork, and combines traditional techniques with newer ones 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. 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. The company has developed 5 district scale exploration opportunities encompassing over 2,000 km² of gold, copper, nickel and PGM projects primarily in Ontario, Nunavut and Saskatchewan.
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, P.Geo.
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
Renmark Financial Communications Inc.
Robert Thaemlitz
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Farialle Pacha
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Tel.: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com
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