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Transition Metals and Aurum Lake Mining Provide Update on Homathko Gold Project

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Transition Metals (TSXV: XTM) and Aurum Lake Mining (TSXV: ARL) have provided an update on their Homathko Gold Project in British Columbia. Following their December 2022 option agreement, Aurum has identified two new exploration targets: Morris South and East Copper.

The Morris South target, located near a historical high-grade gold and silver occurrence, shows potential for widespread high-sulfidation epithermal mineralization. Soil sampling revealed strong anomalies for Au, Sb, As, and Cu.

The East Copper target, situated 3km east of Morris South, features newly discovered porphyritic intrusions with copper mineralization. Recent grab sampling yielded up to 1.25% Cu and 1.64 g/t Au. Both areas show indicators consistent with porphyry copper system presence.

To date, Aurum has paid Transition Metals $120,000 and invested approximately $150,000 in exploration expenditures. The companies plan to conduct drill testing and expanded geochemical surveys to refine targets.

I Metalli di Transizione (TSXV: XTM) e Aurum Lake Mining (TSXV: ARL) hanno fornito un aggiornamento sul loro Progetto Oro Homathko nella Columbia Britannica. A seguito dell'accordo di opzione del dicembre 2022, Aurum ha identificato due nuovi obiettivi di esplorazione: Morris Sud e Est Rame.

Il target Morris Sud, situato vicino a un'affioramento storico di oro e argento ad alta legge, mostra potenziale per una mineralizzazione epithermale ad alta solfatazione diffusa. I campionamenti del suolo hanno rivelato forti anomalie per Au, Sb, As e Cu.

Il target Est Rame, situato a 3 km a est di Morris Sud, presenta intrusioni porfiriche recentemente scoperte con mineralizzazione di rame. I recenti campionamenti a grab hanno mostrato fino a 1,25% di Cu e 1,64 g/t di Au. Entrambe le aree mostrano indicatori coerenti con la presenza di un sistema di rame porfirico.

Ad oggi, Aurum ha pagato a Transition Metals $120.000 e ha investito circa $150.000 in spese di esplorazione. Le aziende prevedono di condurre test di perforazione e indagini geochimiche ampliate per affinare gli obiettivi.

Metales de Transición (TSXV: XTM) y Aurum Lake Mining (TSXV: ARL) han proporcionado una actualización sobre su Proyecto de Oro Homathko en Columbia Británica. Tras su acuerdo de opción de diciembre de 2022, Aurum ha identificado dos nuevos objetivos de exploración: Morris Sur y Este Cobre.

El objetivo Morris Sur, ubicado cerca de un hallazgo histórico de oro y plata de alta ley, muestra potencial para una mineralización epithermal de alta sulfidación en extensión. El muestreo de suelo reveló fuertes anomalías para Au, Sb, As y Cu.

El objetivo Este Cobre, situado a 3 km al este de Morris Sur, presenta intrusiones porfiríticas recién descubiertas con mineralización de cobre. El muestreo reciente ha dado hasta 1,25% de Cu y 1,64 g/t de Au. Ambas áreas muestran indicadores consistentes con la presencia de un sistema de cobre porfirítico.

Hasta la fecha, Aurum ha pagado a Transition Metals $120,000 y ha invertido aproximadamente $150,000 en gastos de exploración. Las empresas planean realizar pruebas de perforación y encuestas geoquímicas ampliadas para refinar los objetivos.

전이 금속 (TSXV: XTM)오룸 레이크 마이닝 (TSXV: ARL)은 브리티시컬럼비아의 호마스코 금 프로젝트에 대한 업데이트를 제공했습니다. 2022년 12월 옵션 계약에 따라 오룸은 두 개의 새로운 탐사 목표인 모리스 남부 및 동부 구리를 확인했습니다.

모리스 남부 목표는 역사적인 고품질 금과 은의 발견 근처에 위치하며, 광범위한 고황화 에피테르말 광물화 가능성을 보여줍니다. 토양 샘플링에서 Au, Sb, As 및 Cu에 대한 강한 이상치를 발견했습니다.

동부 구리 목표는 모리스 남부에서 동쪽으로 3km 떨어진 곳에 위치하며, 구리 광물화가 있는 새로 발견된 화강암 침입을 특징으로 합니다. 최근의 샘플링에서는 최대 1.25% Cu와 1.64 g/t Au가 나왔습니다. 두 지역 모두 포르프리 구리 시스템의 존재와 일치하는 지표를 보여줍니다.

현재까지 오룸은 전이 금속에 $120,000를 지불했으며 약 $150,000를 탐사 비용에 투자했습니다. 두 회사는 목표를 정제하기 위해 시추 테스트와 확대된 지화학 조사를 계획하고 있습니다.

Métaux de transition (TSXV: XTM) et Aurum Lake Mining (TSXV: ARL) ont fourni une mise à jour sur leur projet d'or Homathko en Colombie-Britannique. Suite à leur accord d'option de décembre 2022, Aurum a identifié deux nouveaux objectifs d'exploration : Morris Sud et Est Cuivre.

L'objectif Morris Sud, situé près d'une occurrence historique d'or et d'argent de haute qualité, montre un potentiel pour une minéralisation épithermale à haute sulfidation répandue. L'échantillonnage des sols a révélé de fortes anomalies pour Au, Sb, As et Cu.

L'objectif Est Cuivre, situé à 3 km à l'est de Morris Sud, présente de nouvelles intrusions porphyriques découvertes avec minéralisation de cuivre. Les récents échantillons ont révélé jusqu'à 1,25 % de Cu et 1,64 g/t d'Au. Les deux zones montrent des indicateurs cohérents avec la présence d'un système de cuivre porphyrique.

À ce jour, Aurum a payé à Transition Metals 120 000 $ et a investi environ 150 000 $ en dépenses d'exploration. Les entreprises prévoient de réaliser des tests de forage et des enquêtes géochimiques élargies pour affiner les objectifs.

Übergangsmetalle (TSXV: XTM) und Aurum Lake Mining (TSXV: ARL) haben ein Update zu ihrem Homathko-Goldprojekt in British Columbia gegeben. Nach ihrem Optionsvertrag im Dezember 2022 hat Aurum zwei neue Explorationsziele identifiziert: Morris Süd und Ostkupfer.

Das Ziel Morris Süd, das sich in der Nähe eines historischen Vorkommens von hochgradigem Gold und Silber befindet, zeigt Potenzial für weit verbreitete hochsulfidische epithermale Mineralisierung. Bodenprobenahme ergab starke Anomalien für Au, Sb, As und Cu.

Das Ziel Ostkupfer, das 3 km östlich von Morris Süd liegt, weist neu entdeckte porphyrische Intrusionen mit Kupfermineralisierung auf. Jüngste Grabproben ergaben bis zu 1,25 % Cu und 1,64 g/t Au. Beide Gebiete zeigen Indikatoren, die mit der Präsenz eines porphyrischen Kupfersystems übereinstimmen.

Bis heute hat Aurum Transition Metals 120.000 $ gezahlt und etwa 150.000 $ in Erkundungsausgaben investiert. Die Unternehmen planen, Bohrtests und erweiterte geochemische Untersuchungen durchzuführen, um die Ziele zu verfeinern.

Positive
  • Discovery of two new promising exploration targets: Morris South and East Copper
  • High-grade sampling results: up to 1.25% Cu and 1.64 g/t Au at East Copper target
  • Strong soil anomalies indicating potential widespread mineralization
  • Continued investment and commitment from option partner Aurum ($270,000 total investment)
Negative
  • Results are preliminary and require further confirmatory testing
  • Soil sampling results are indirect and not definitive for economic mineralization
  • Grab samples may not represent true mineralization occurrence

Toronto, Ontario--(Newsfile Corp. - March 17, 2025) - Transition Metals Corp (TSXV: XTM) ("Transition Metals") and Aurum Lake Mining Corporation (TSXV: ARL) ("Aurum") are pleased to provide an update on the Homathko Gold Project in British Columbia (the "Project"). Pursuant to the option agreement dated December 19, 2022, between Transition Metals and Aurum (the "Option Agreement"), Transition Metals has granted Aurum the option to acquire 100% interest in the mineral claims comprising the Project. Aurum has subsequently completed successive work programs confirming known gold mineralization potential and identifying new exploration targets.

Scott McLean, P.Geo., Chief Executive Officer of Transition Metals, commented: "We are encouraged by the work completed by our partner, Aurum. Their efforts have validated the high-grade gold potential of the Discovery Creek area and, as a bonus, have identified two new target areas-Morris South and East Copper."

Patrick Sapphire, Chief Executive Officer of Aurum, commented: "We are pleased with the exploration results which have provided insights into the Project's potential. These findings represent an important step in the Project's continued advancement."

New Exploration Targets Identified

Morris South Target
The Morris South target is located directly south of a historically significant high-grade gold (Au) and silver (Ag) occurrence, which also contains high concentrations of stibnite, a primary ore mineral of antimony (Sb). Historical sampling at the Morris Mine returned a 1.1-metre chip sample grading 15.2 g/t Au, 383 g/t Ag, and 13.55% Sb1. The Morris Mine occurrence is situated on a small block of third-party claims surrounded by Transition Metals-held ground. For additional clarity, results from sampling reported on the adjacent ground do not apply to the current property nor are tied to work associated with this disclosure. Recent work by Transition Metals, under contract to Aurum, has highlighted the potential for widespread high-sulfidation epithermal mineralization in the surrounding area. Strong soil anomalies for Au, Sb, As, and Cu suggest additional mineralized sources upslope of the soil samples in the broader area surrounding the historical showings. Soil sampling is an indirect method of exploration, and the results should not be considered definitive for the presence of economic mineralization without further confirmatory testing and geological interpretation.

East Copper Target
The East Copper target, approximately 3 km east of the Morris South area, features newly discovered bedrock exposures of porphyritic intrusions hosting fracture-controlled malachite and disseminated copper mineralization. The highest copper value from grab sampling collected during the recent program was 1.25% Cu, while a separate sample returned 1.64 g/t Au2. Grab samples, by their nature are selective samples and may not necessarily represent the true occurrence of underlying mineralization. Soil sampling in the area has revealed elevated concentrations of multiple pathfinder elements, including As, Ag, Sb, and Au, suggesting potential for polymetallic mineralization2. Adjacent purple-colored pebble conglomerates exhibit intense epidote, hematite, and magnetite alteration near hornblende-bearing porphyritic dykes, further supporting the area's exploration potential.

Geological Significance and Next Steps

Sampling in both the Morris South and East Copper areas has identified indicators consistent with the presence of a porphyry copper system2. Elevated copper associated with epidote-hematite-magnetite alteration suggests proximity to favorable alteration and temperature conditions for porphyry copper mineralization. Additionally, carbonate-sericite/clay-altered rocks with elevated Sb, Au, and Ag are characteristic of high-sulfidation epithermal mineralization, potentially linked to a separate intrusion-driven gold-silver-antimony system similar to that observed at the South Morris target area.

Recommended Next Steps:

  1. Drill testing of the well-defined Discovery Zone gold target to evaluate the subsurface extent of mineralization.

  2. Expanded geochemical soil surveys, geological mapping, and geophysical surveys in the Morris Mine/East Copper Discoveries area to refine drill targets.

Option Agreement Updates

To date, Aurum has paid Transition Metals $120,000 and incurred approximately $150,000 in exploration expenditures in accordance with the terms of the Option Agreement. Aurum has elected to proceed with further exploration work on the Homathko Gold Project. To support the continued exploration the parties have amended the Option Agreement as detailed in Aurum's news release dated March 10, 2025.

Transition Metals and Aurum look forward to continued progress on the Homathko Gold Project and remain optimistic about its potential to host significant mineralization.

About the Property

The property is located, approximately 50 km south of the community of Tatla Lake and 220 km west of Williams Lake, BC and is comprised of 5 contiguous mineral claims, covering 9,788 hectares. Geologically the Property lies near the contact of the eastern edge of the Coast Plutonic Suite and is believed to be largely underlain by Jurassic-aged volcanic and intrusive rocks of the Stikine Terrane. Mineralization on the Property was first identified by Falconbridge Limited in 1966 where prospecting in the Discovery Creek area returned values up to 384 grams gold (Au) per tonne (g/t Au)3. Mineralization in the Discovery Creek area is hosted in quartz-carbonate veins developed within and near the margins of a shear bounded, altered quartz-feldspar porphyry sill that can be traced along with its associated veining where exposed at surface for 1.5km along strike. Geologists from Transition Metals interpret that the environment for mineralization in the Discovery Creek area appears consistent with that of a mesothermal lode gold deposit which bears many similarities to similar deposits occurring elsewhere in the Stikine belt including the Pioneer/Bralorne District and the Elk Gold Mine.

¹ Source: Firestone Ventures - https://firestoneventures.com/i/pdf/2005-01_Morris.pdf

² Source: Assessment Report of Technical Work Completed on the Homathko Property, Feb 21, 2025, BC Department of Mines

³ Source: BC Mines Property File, Falconbridge File 184 - Report on Homathko Gold Prospect, 1965, J/J. MacDougall

Qualified Person

The technical elements of this news release have been reviewed and approved by Mr. Benjamin Williams, P.Geo. (PGO), Senior Geologist of Transition Metals and a Qualified Person as defined under National Instrument 43-101.

About Aurum Lake Mining Corporation.

Aurum Lake Mining Corp. (TSXV: ARL) is a Tier 2 mining issuer pursuant to the policies of the TSXV. The company's current principal business is the development and exploration of the Homathko Property, located in the Cariboo Region of British Columbia, approximately 57km south of the community of Tatla Lake which lies 222km west of Williams Lake. The company expects that it will continue to evaluate and acquire additional resource projects in other jurisdictions with low to moderate local political risk.

About Transition Metals Corp.

Transition Metals Corp. (TSXV: XTM) is a Canadian-based, multi-commodity explorer that specializes in converting new exploration ideas into discoveries. The award-winning team of geoscientists has extensive exploration experience which actively develops and tests new ideas for discovering mineralization in places that others have not looked, often allowing the company to acquire properties inexpensively. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition Metals to conserve capital and minimize shareholder's equity dilution.

Cautionary Note on Forward-Looking Information

Except for statements of historical fact contained herein, certain 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 based on current expectations involving a number of risk and uncertainties. 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 Transition Metals and Aurum. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, Transition Metals and Aurum 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 news release.

For further information regarding this news release, please contact:

Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-1777

Patrick Sapphire
Chief Executive Officer
Aurum Lake Mining Corporation
Telephone: 647-530-1117

Cannot view this image? Visit: https://images.newsfilecorp.com/files/2766/244802_224802_jointlogo.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/244802

FAQ

What are the new exploration targets discovered at TNTMF's Homathko Gold Project?

Two new targets were identified: Morris South, showing potential for high-sulfidation epithermal mineralization, and East Copper, featuring porphyritic intrusions with copper mineralization.

What are the recent sampling results from TNTMF's East Copper target?

Recent grab sampling at the East Copper target yielded up to 1.25% Cu and 1.64 g/t Au, with elevated concentrations of As, Ag, Sb, and Au in soil samples.

How much has Aurum invested in TNTMF's Homathko Gold Project so far?

Aurum has paid Transition Metals $120,000 and invested approximately $150,000 in exploration expenditures.

What are the next exploration steps for TNTMF's Homathko Gold Project?

The company plans to conduct drill testing of the Discovery Zone gold target and expand geochemical soil surveys, geological mapping, and geophysical surveys in the Morris Mine/East Copper area.
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