Transition to Drill Sunday Lake Platinum Project

SUDBURY, ON, Oct. 17, 2013 /CNW/ - Project generator Transition Metals Corp. 
(TSXV: XTM) ("Transition", "the Company"), is pleased to provide an update 
on its platinum exploration program, on the Sunday Lake property, in the 
mid-continental rift (MCR) region of north-western Ontario. Transition has 
completed a comprehensive program of mapping and ground geophysics including 
Magnetic, Gravity and EM surveys and plans to complete a 3,000m diamond drill 
program over the coming weeks. The 2013 exploration program at Sunday Lake is 
being funded by strategic alliance partner Impala Platinum Holdings Limited 
(Implats), one of the world's leaders in the mining, refining and marketing of 
platinum group metals (PGM). 
"We are pleased with the caliber of the geophysical and geological targets we 
have defined at Sunday Lake" commented CEO Scott Mclean. "which appear to be 
some of the best we have developed in the MCR so far." 
Sunday Lake Property Overview 
The 17 km(2) Sunday Lake property is located approximately 25 km North of 
Thunder Bay and 25 km west of the Panoramic Resources Thunder Bay North 
deposit and consists of staked claims and privately owned land optioned in 
2013 from Rio Tinto Exploration Canada Inc. (RTEC) and other property holders. 
The property covers a 3.5 km diameter circular magnetic anomaly associated 
with a large buried mafic-ultramafic intrusion interpreted to be 'early rift' 
in age and considered prospective for hosting PGM-Ni-Cu mineralization. The 
MCR is a 2,000km long geologicalrift in the center of North America that 
formed when the continent's core, the North American craton, began to split 
apart about 1.1 billion years ago. Mafic to ultramafic intrusive 'early rift' 
rocks, with high associated Platinum Group Metals occur within the MCR. In 
recent years, several deposits have been discovered in the MCR, including: 

    --  Lundin Mining's Eagle deposit: 5.33 Mt @ 3.1% Ni, 2.5% Cu, 1.32
        g/t PGM (Probable)¹
    --  Panoramic Resource's Thunder Bay North deposit: 9.83 Mt @ 2.87
        g/t Pt-Eq for 0.741 Moz Pt-Eq (Indicated) + 0.53 Mt @ 2.87 g/t
        Pt-Eq for 0.05 Moz Pt-Eq (Inferred)²

To date, only two of four holes for a total of 1,893 m drilled on the 
property, have intersected the 'Sunday Lake intrusion', both encountering 
elevated values of PGM's. In 2011, RTEC completed 2 holes, one targeting the 
central west part of the magnetic anomaly intersecting elevated PGM's near the 
base of a thick sequence of peridotite. The second hole (12SL0002) drilled by 
RTEC investigated a small magnetic anomaly on the northern edge of the larger 
magnetic anomaly intersecting elevated PGM's near the base of an 
'early-rift' gabbroic unit from 61-144m.

2013 Exploration Program

During the summer 55.4 km of grid lines were cut to facilitate the completion 
of ground magnetic, PulseEM™, and gravity surveys and to conduct detailed 
geological mapping.

The ground based geophysical surveys were successful in highlighting several 
priority target areas, including anomalous magnetic, gravity and EM responses 
both to the north and south of the drill hole SL12002 location, and at other 
untested areas peripheral to the main part of the intrusion.

The Company plans to complete 3,000 m of drilling this fall to test these 
targets and to provide information on the geometry and layering sequence of 
the Sunday Lake intrusion.

Qualified Person 
The technical elements of this press release have been approved by Mr. Greg 
Collins, P.Geo (APGO), a Qualified Person under National Instrument 43-101.

(1) Resource reported by Lundin Mining,July 2013 NI 43-101 Technical Report on 
the Eagle Mine, Upper Peninsula of Michigan, USA
² Resource reported by Panoramic Resources, Thunder Bay North deposit: 2011 
JORC compliant mineral resources estimate prepared by AMEC Americas Ltd. 
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, which went public in 2011, has an 
expanding portfolio that currently includes 30 gold, copper, nickel and 
platinum 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.

SOURCE  Transition Metals Corp. 
Further information is available or by 
Scott McLean President and CEO Transition Metals Corp. Tel: (705) 669-0590 
Image with caption: " Figure 1: Location of the Sunday Lake Property, Geology, 
Shaded Magnetics (CNW Group/Transition Metals Corp.)". Image available at: 
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CO: Transition Metals Corp.
ST: Ontario
-0- Oct/17/2013 13:25 GMT
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