Transition Metals Resumes Drilling at its Sunday Lake Platinum Discovery, Ontario

Transition Metals Resumes Drilling at its Sunday Lake Platinum Discovery, 
SUDBURY, ON, March 31, 2014 /CNW/ - Transition Metals Corp. (XTM - TSX.V)  
("Transition", "the Company") is pleased to announce that it has initiated a 
2,500 metre diamond drilling program at its Sunday Lake Platinum discovery 
near Thunder Bay Ontario, with Joint Venture Partner Impala Platinum Holdings 
Limited (Implats).  The program objective is to further expand the extent of 
mineralization reported in January (please refer to news release dated January 
27, 2014 - Transition Metals and Implats Make Platinum Discovery at Sunday 
Lake, Intersecting 20.2 meters grading 3.22 Combined PGM's).  The discovery 
was the culmination of a 5 year strategic alliance between Implats and 
Transition (through its wholly owned subsidiary, HTX Minerals Corp) which has 
now been converted into a new Joint Venture at Sunday Lake.  Under the terms 
of the Joint Venture agreement, Implats will fund 100% of expenses on the 
project and Transition will hold a 25% free carried interest through to the 
completion of a Feasibility Study.  Transition retains the right to secure a 
controlling interest in the project in the event that Implats chooses to 
discontinue or limit future funding. 
Company CEO Scott McLean commented "Our discovery at Sunday Lake was the 
result of a team effort between Transition Metals and Implats. We are now 
excited to take this promising project forward with Implats continuing as a 
strong partner." 
Seef Vermaak, Group Executive - Mineral Resource Management for Implats, the 
world's second larger platinum producer, stated, "We are pleased to have 
achieved our goals under the Alliance by making a new platinum discovery in an 
emerging PGM district. We look forward to a continued partnership with 
Transition Metals as we jointly seek to advance the Sunday Lake project." 
Sunday Lake Project Update 
The next phase of exploration work at Sunday Lake will focus on expanding the 
extent of mineralization intersected during the discovery program. The planned 
drill program will include physical properties and borehole EM surveys to 
further advance the geological, geochemical and geophysical understanding of 
the Sunday Lake Intrusion. Roads and drill pads to facilitate the next phase 
of drilling are being cleared and the drill has been mobilized to site. 
The company has now assembled approximately 2,590 hectares of property 
consisting of staked and optioned claims and privately owned property at 
Sunday Lake which included the acquisition of an additional 290 hectares 
following the discovery of the platinum-rich mineralization 
Implats Strategic Alliance and Sunday Lake Joint Venture Agreement 
The Strategic Alliance agreement between Transition and Implats has been 
converted in to a new Joint Venture agreement on the Sunday Lake Property. As 
part of the new arrangement, the balance of projects generated under the 
Alliance, totaling 26,960 hectares, have been assigned 100% to Transition 
Metals subject to 1.0% to 1.5% net smelter return royalty payable to Implats. 
Transition is now actively seeking other partners to further advance these 
properties using the successful exploration model developed for Sunday Lake. 
Company CEO Scott McLean further commented "The new partnership arrangement 
between our company and Implats demonstrates the successes that can be gained 
through the Project Generator Business Model.  Through this partnership, 
excellent technical synergies between the partners, operational know how and 
sustained funding over five years has resulted in a new discovery which the 
partners will now take forward together." 
About the Sunday Lake Property 
The Sunday Lake Property is located approximately 25 km north of Thunder Bay 
and 25 km west of Panoramic Resources Limited's, 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 reversely-polarized magnetic anomaly 
associated with a large buried mafic-ultramafic intrusion interpreted to be 
Proterozoic in age and related to the Midcontinental Rift (MCR). The MCR is a 
2,000 km long geological rift in the center of North America that formed when 
the North American craton began to split apart about 1.1 billion years ago. 
Early phases ('early-rift') of mafic to ultramafic intrusive rocks, with high 
associated PGMs occur within the MCR. In recent years, several deposits have 
been discovered in the MCR, including: 

    --  Lundin Mining Corporation's Eagle deposit: 5.33 Mt @ 3.1% Ni,
        2.5% Cu, 1.32 g/t PGM (Probable) ¹
    --  Panoramic Resource Limited'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

Qualified Person

The technical elements of this press release have been reviewed and approved 
by Mr. Grant Mourre, 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 at or by 
contacting: Scott McLean, President and CEO, Transition Metals Corp., Tel: 
(705) 669-0590; Robert Thaemlitz, Financial Communications, Renmark, Tel. 
(514) 939-3989 
To view this news release in HTML formatting, please use the following URL: 
CO: Transition Metals Corp.
ST: Ontario
-0- Mar/31/2014 14:36 GMT
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