Transition Metals Corp. announced 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.

The company provided an update of exploration activities. 2013 exploration highlights: Thunder Bay PGM's (Implats Alliance) At the Sunday Lake property, 54 kilometres of grid lines were cut in order to complete geological mapping, ground magnetic, gravity and time domain EM surveys. A 2,600 metre diamond drill program to test platinum group metal (PGM) targets is currently in progress with results pending and additional drilling and geophysical surveys planned for the new year. An iron-vanadium bearing zone extending 1,800 metres of strike length and 50 to 170 metres in width was identified at Empire Lake. Results from 100 channel and grab samples collected from 6 hand stripped trench areas returned calculated V2O5 contents ranging from 0.01 to 0.65%. Composite samples from the trenches were submitted for preliminary metallurgical testing. Approximately $1.3 million in funding was provided to Transition in 2013 by Implats. The Implats Strategic Alliance Agreement is scheduled to expire at the end of January 2014, however discussions for extending this agreement are ongoing. Aer Kidd - Ni-Cu-PGM's (Sudbury Platinum Corp): The property is located on the prolific Worthington offset dike of the Sudbury Igneous Complex approximately 2.6 kilometres along strike to the northeast of Vale's Totten mine (10.1 Mt @ 1.5% Ni, 1.97% Cu, 4.8g/t PGM)1 and 4.3 kilometres along trend to the southwest from KGHM's Victoria mine (14.5 Mt@ 2.5% Ni, 2.5% Cu, 7.6 g/t PGM)2. The Company believes that the property has excellent potential to host a significant Ni-Cu-PGM deposit. Borehole UTEM IV survey work on 11 selected historic drill holes is currently in progress. Results from the borehole geophysical surveys will be combined with the updated geological model to target areas in preparation for an early 2014 drill campaign. Itchen Lake - Nunavut Gold (NRC Alliance): Approximately $1.0 million in funding was provided to Transition in 2013 by strategic alliance partner, Nunavut Resources Corp. (NRC). A 750 line kilometre Airborne Mag-EM survey and follow up program of mapping and sampling was completed resulting in the identification of 17 new high quality gold drill targets with geological and geophysical characteristics consistent with other well-known banded iron formation hosted gold deposits in the Slave Province. Assays from 125 grab samples collected in August returned values ranging from nil to 8.1 g/t Au. One of the identified conductive targets has been modelled to have similar size, geology and geometry to Sabina's Umwelt gold deposit (1.8 Moz of Indicated Resources grading 7.1 g/t Au and 0.6 Moz of Inferred Resources grading 9.9 g/t Au)3, located approximately 225 kilometres to the northeast. Abitibi projects - gold: The company owns or controls an interest in approximately 187 square kilometres of gold properties in eight project areas in the prolific Abitibi Greenstone belt in Ontario. Work to date on the Haultain property has defined a similar gold mineralizing environment to that associated with a number of deposits in the Kirkland Lake camp, outlining widespread gold mineralization and alteration over a strike length of 1.25 kilometres. Highlights include: 97 g/t gold over 0.40 metres (channel sample); 2.4 g/t over 7.1 metres and 82.5 g/t over 0.4 metres (drill program, within 35 metres of surface). Mapping, mechanical trenching and sampling on the Haultain West Property near Gowganda confirmed the presence of syenite intrusions similar in chemistry to those hosting gold mineralization discovered by the company on the central portion of the Haultain Property in 2010. Bedrock sampling on the Elephant Head property returned values ranging from 0.2 to 50.6 g/t Au in silicified sheared granodiorite hosting 3 to 5% disseminated pyrite. The company plans to mechanically strip identified occurrences in the spring of 2014. Surface sampling on the West Matachewan project in vicinity of a historical drill hole that intersected 0.6 g/t Au over 15.4 metres including 2.1 g/t Au over 2.0 metres returned elevated gold values. This sampling has highlighted the need for additional trenching and stripping in the vicinity of the identified gold mineralization at surface. Janice lake - copper: Compilation and modelling of historical data has highlighted geophysical signatures that correlate well with known drill hole intersections of copper mineralization. Coverage of the property by a higher resolution airborne magnetic and time domain EM survey is planned for the first quarter of 2014 to define and further characterize drill targets, and identify new targets for ground follow-up work after break-up.