Transition Metals Corp. reported that it has commenced work on its Pike Warden property ("the Property"), Yukon. The Company has engaged Geotech Ltd. to complete approximately 650-line kilometres (km) of helicopter borne, Z-Axis Tipper Electromagnetic system (ZTEM?) survey over the property.

The ZTEM? system utilizes deeply penetrating electromagnetic signatures (>1-2 km) that permit the modelling of geophysical properties which can be used to inferred geologic units, structures, and alteration assemblages, at a system scale, based on resistivity contrasts. Audio-frequency magnetic (AFMAG) data from this survey will complement this data set and be used to create 3-D subsurface resistivity and magnetic inversion models, which will help determine, characterize, and prioritize prospective targets on the Property.

The Company expects Geotech Ltd. to complete the more than 650 line-km ZTEM? survey within a couple of days, pending weather conditions, quality of ZTEM? signal strength, and successful QA/QC of survey data.

Preliminary data are expected to be delivered to the Company shortly after completion of the survey, with final data and reports expected within eight weeks from the completion of the survey. Starting in mid-July, the Company plans to resume sampling, bedrock mapping, and alteration mapping efforts on the Property, inclusive of following up on the expected preliminary survey results. These efforts will further aid in characterizing and defining mineralization and highlighting prospective target sites for drilling on the Property.

The Pike Warden property is located in the traditional territory of Carcross/Tagish First Nation and is situated on the northern rim of the Bennett Lake Caldera Complex, one of the largest extinct volcanic centers in Canada. The property is located approximately 65 kilometres southwest of Whitehorse, Yukon, and is composed of 203 contiguous mining claims totaling approximately 41 km2. The property encompasses a combination of historic and recently discovered high-grade polymetallic gold, copper, and silver epithermal showings that are indicative of a large epithermal-porphyry system in the vicinity of the Bennett Lake Volcanic Complex.

In June 2022, Transition entered into an option agreement to acquire a 100% interest in the property from the Vendor in exchange for cash, shares, and work expenditures over a four-year period.