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Drilling by Transition Metals returns elevated gold values at Haultain

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December 1, 2011 - Transition Metals Corp. (XTM – TSX.V) - ("Transition Metals" or the "Company"), is pleased to report positive assay results from diamond drilling completed in September and October of 2011 on its 100% owned Haultain Gold property near Gowganda, Ontario. Elevated gold values were encountered in all but one drill hole and two near surface intervals of higher grade gold mineralization were identified as part of the initial phase of drilling on the property.
Highlights include results from hole TMH11-09, which intersected a 7.06 metre interval grading 2.37 g/t gold from 8.42 metres to 15.48 metres with a separate 82.5 g/t gold assay returned over a 0.36 meter interval located at 35.0 metres downhole. Mineralized intervals from holes TMH11-03 through to TMH11-16 are presented below in Table 1.

Greg Collins, Chief Operating Officer of Transition Metals commented on these results, stating, "We are encouraged by the results from this initial round of drilling that targeted near surface gold occurrences. Drilling conducted in the vicinity of the Annie's Ladder was successful in defining the two higher grade gold mineralization zones which remain open for further exploration at depth and along strike. Additional drilling completed 400 metres along strike to the west of the Annie's Ladder also intersected elevated gold values further highlighting the lateral extent of widespread gold mineralization on the property."

Table 1. Average length weighted assay intervals from initial phase of drilling completed on the Haultain Property in October, 2011

Hole        From(m)   To(m)   Length(m)   Au(g/t)
TMH11-03    42.16     43.80     1.64       0.82
And         58.80     63.16     4.36       1.94
Including   60.58     62.58     2.00       3.32
And         93.44     98.00     4.56       0.77
TMH11-04    15.06     15.86     0.80       2.96
And         24.15     24.56     0.41       1.82
And         29.65     30.73     1.08       1.77
And         43.24     47.74     4.50       0.52
And         78.15     82.50     4.35       0.51
TMH11-05    13.97     14.60     0.63       1.34
TMH11-06    91.17    107.26    16.09       0.66
Including  104.00    107.26     3.26       1.32
Including  104.00    107.26     3.26       1.32
TMH11-07     8.92     13.50     4.58       1.56
And         93.60     97.18     3.58       1.02
And         41.00     42.50     1.50       3.98
TMH11-08     2.77      6.10     3.33       1.97
And         20.95     27.22     6.27       0.61
And         50.30     51.41     1.11       2.73
TMH11-09     8.42     15.48     7.06       2.37
Including    9.97     11.00     1.03       7.26
And         34.30     35.00     0.70      42.71
Including   34.64     35.00     0.36      82.50
TMH11-10    10.57     11.84     1.27       1.00
                           TMH11-11        No Significant Values 
TMH11-12    74.26     75.75     1.49       0.72
TMH11-13    18.91     21.53     2.62       1.07
TMH11-14    44.84     46.15     1.31       2.06
TMH11-15    44.62     45.12     0.50       0.51
TMH11-16    37.40     38.10     0.70       1.36

*Length intervals are actual core length. The true thickness of mineralized intervals has not been estimated.

Table 2 presents information concerning the location and orientation of holes completed to date.

Table 2. Drill Hole Location and Collar Information

Hole	  Easting(m)  Northing(m)  Elevation(m)	 Length(m)  Azimuth   Dip	Assays
TMH10-01   517527      5279788 	      300     	   101        175     -45   Previously Reported
TMH10-02   517550      5279753 	      305     	    65        320     -50   Previously Reported
TMH11-03   517578      5279809 	      300          101        180     -50       Updated
TMH11-04   517531      5279810 	      300     	    87        180     -50       Updated
TMH11-05   517488      5279793 	      305     	    95        180     -50	Updated
TMH11-06   517585      5279750        303     	   185        300     -45	Updated
TMH11-07   517555      5279770 	      305     	    56        230     -50	Updated
TMH11-08   517525      5279752 	      305     	   104        300     -50	Updated
TMH11-09   517557      5279770 	      305     	    35        200     -45	Updated
TMH11-10   517522      5279740 	      305     	   131        180     -50	Updated
TMH11-11   517560      5279625 	      305     	    83        200     -50	Updated
TMH11-12   517625      5279808 	      305     	   101        180     -50	Updated
TMH11-13   517200      5279785 	      305     	    53        180     -60	Updated
TMH11-14   517195      5279840        305     	    98        185     -50	Updated
TMH11-15   517085      5279810 	      305     	    50        180     -50	Updated
TMH11-16   517182      5280046 	      305     	    77        175     -60	Updated

Collins continues, "So far, our drill program has mainly investigated the gold potential of the centrally located Swain syenite dyke swarm. As drilling continues, we will now start to evaluate the near surface gold potential of the adjacent North and South dyke swarms."

Ongoing Drill Program

To date, 14 shallow drill holes for a total of 1,255 metres of a proposed 2,500 metre diamond drill program have been completed. A diamond drill rig is currently on site and has been contracted to complete the remainder of the drill program. Please refer to Figure 1 for a location map depicting the location of all completed and planned drill holes. Figure 2 presents an interpreted geological vertical cross section of the Annie's Ladder showing illustrating highlight intervals.

About The Haultain Property
The Haultain Property is located near Kirkland Lake Ontario, approximately 1 kilometre west of the historical silver producing deposits of Gowganda. The property contains a new gold discovery made by the Company in 2010 (please refer to the February 17, 2011 press release for additional details) which it has further explored by conducting additional mapping, mechanical stripping and channel sampling during the summer of 2011. This work has led to the discovery of additional zones of gold mineralization at surface (please refer to news releases dated September 8, 26 and November 7, 2011), which are the focus of the ongoing drill program. The Haultain Gold Property consists of 20 staked and optioned mining claims (1,296 Ha) located in Haultain and Nicol townships subject to the terms of an option agreement dated July 1, 2010.

About Transition Metals Corp
Transition Metals is a public mining exploration company listed on the Toronto Venture Exchange (TSX) under the trading symbol – XTM.V. It is focused on the identification, exploration and development of new gold opportunities in established and emerging gold districts in Canada. The Company currently owns or controls an interest in several early stage gold exploration properties in Ontario and British Columbia. The Company is committed to building shareholder value through the identification and development of new low cost, high quality exploration projects while minimizing shareholder dilution through funding partnerships and revenue generating opportunities.

Qualified Person/Quality Control Procedures
This press release has been prepared and reviewed by Mr. Greg Collins, P.Geo (APGO/APEGM), a Qualified Person under the National Instrument 43-101 guidelines. All core samples were half sawn at a controlled location by Company representatives under the supervision of Mr. Thomas Hart, P.Geo (APGO), and transported directly by the company to the lab. Transition Metals employs in-house QA/QC procedures that conform to industry best practices. All analytical work performed on core samples was conducted at ALS-Chemex with sample preparation completed in Sudbury, Ontario and analyses completed in North Vancouver, B.C. The quality system used by ALS-Chemex complies with international standards ISO 9001:2000 and ISO 17025:2005.

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.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended , or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption there from. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Transition Metals in any jurisdiction.

Figure 1: Drill Hole Location Map


Figure 1: Drill Hole Location Map


Further information contact:

Scott McLean
President and CEO
Transition Metals Corp.

TMX Equicom
Patrick Piette
Mining Group
(416) 815-0700 – extension 267

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