Transition Metals Corp. and HTX Minerals Corp. announced that they have entered into a letter of intent dated March 3, 2013 to combine the businesses.

The parties anticipate that upon completion of the Transaction and subject to the approval of the TSX-V, the board of directors of the combined business shall consist of seven members, including all of the non-executive board members of both Transition and HTX, as: Scott McLean, H.BSc., P.Geo., co-founder and CEO of Transition Metals and HTX Minerals with over 25 years of experience in all facets of exploration. Tom Atkins, B.Sc., MBA. Jon G. Baird, B.Sc., P.Eng.

Jason Marks, B.E.Sc., MBA. Jason oversees firm and individual portfolios at GMP Investment Management. Brian L. Montgomery, B.A., LLB.

Bill Pearson, Ph.D. Bill is the former Vice President, Exploration for Desert Sun Mining Corp. W.S. (Steve) Vaughan, B.Sc, M.A. LLP. Steve is a partner at Heenan Blaikie and a expert on mining and natural resources law.

In addition, it is anticipated that following completion of the Proposed Transaction the officers of the combined business will be Scott McLean (President and CEO), Greg Collins (Chief Operating Officer), Kevin Stevens (VP and Chief Geophysicist), and Anna Ladd (Chief Financial Officer).