Corporate Presentation

INVEST IN TOMORROW, TODAY. XTM – TSXV | Corporate Presentation

Q1 2021 INVEST IN TOMORROW, TODAY.

XTM – TSXV 1

FORWARDLOOKING STATEMENTS

Certain information contained in this presentation, includes information and statements which may contain words such as "could", "plans", "should", "anticipates", "expect", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forwardlooking information. All of the forward-looking information contained in this presentation is qualified by this cautionary statement. There can be no assurance that the actual results or developments anticipated by Transition Metals Corporation, Sudbury Platinum Corporation or Canadian Gold Miner Corporation as expressed or implied by the forward-looking information, will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Transition Metals Corp. or its business operations. Transition Metals Corp. disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events. Readers should not place undue reliance on forward-looking information.

ADVENTURE START HERE

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XTM – TSXV 2

A PROJECT GENERATOR COMPANY POISED FOR GROWTH Transition Metals Corp (XTM – TSX.V) specializes in converting new exploration ideas into Canadian discoveries. By acquiring and advancing multiple projects simultaneously, the Corporation maximizes shareholder exposure to discovery and capital gain. Equity dilution is minimized by offering partners interest in specific projects.

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XTM – TSXV | Q2 2018

XTM – TSXV 3

A HUGE OPPORTUNITY IN EXPLORATION An undervalued stock, deep relationships with well funded partners, ongoing high demand for metals, over 20 projects and new discoveries on the horizon, an award-winning technical team with a proven track record, plus ownership in two companies set for Public Transactions this year means now is the time for Transition Metals.

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XTM – TSXV | Q2 2018

XTM – TSXV 4

FOCUS ON ESG ENVIRONMENTAL: Environmental standards that minimize and avoid impact to water, land and air with strict adherence by all contractors.

SOCIAL: Collaboration with communities and all stakeholders to create long-term, trusted relationships and high safety standards.

GOVERNANCE: Accurate and ethical in all business practices to create transparency for partners and shareholders INVEST IN TOMORROW, TODAY. INVEST IN TOMORROW, TODAY.

XTM – TSXV | Q2 2018

XTM – TSXV 5

FINANCING HISTORY $0.10 to $0.40 per Share

POISED FOR GROWTH

XTM Private Company Financings (Nov, 2009 to Aug, 2011)

$2.46M @ $0.195 per share (weighted average)

XTM Public Company Financings (August, 2011 to Present)

$8.18M @ $0.30 per share (weighted average)

Total XTM Financings: $10.6M @ $0.21 Total Financings (XTM, SPC, CGM): $37.3M Partner Funding: $35M INVEST IN TOMORROW, TODAY.

XTM – TSXV 6

Share Capital CAPITAL STRUCTURE + SHARE PRICE PERFORMANCE

Issued & Outstanding Options & Warrants Fully Diluted

55,976,389 7,688,917 63,665,306

2-Year Stock Performance

46.5M

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XTM – TSXV 7

POISED FOR GROWTH As at January 15, 2021

$0.18 Share Price

$0.24 $0.11 52-Week Range

23% CGM Ownership = $1.2M + 15% SPC Ownership = $3.0M + 7% Forum Energy Metals Ownership = $2.3M + 1.4% Class 1 Nickel = $1.3M + 1% Nova Royalty = $2.7M

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$11.5M Market Cap

=$10.5M Value of Investments

XTM – TSXV 8

Real Value

Transition Metals Asset Value Summary

As at January 2021

Cash Securities Properties Royalties (based on Nova Royalty transaction) Milestone Payments ($22 million discounted at 85%) Goodwill & People Total

$2,000,000 $10,492,870 * $12,507,500 $1,350,000 $3,300,000 $2,000,000 $31,309,370

*

Regarding the Sunday Lake PGM Project alone, BMO Capital Markets assigned a $20M in-situ value. Transition Metals holds a 25% carried interest

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XTM – TSXV 9

20+

GEOGRAPHIC DIVERSITY MEANS INCREASED POTENTIAL FOR DISCOVERY

PROJECTS Pro-mining jurisdictions • • •

NUNAVUT

Easily Accessible Excellent Infrastructure Secure Land Tenure

SK

BC

Cu

ON Au

Ni PGM

Cu Au

Au

Sn

W TRANSITION METALS

Ni

NB Au

Co

NFLD

NS

SPC METALS CANADIAN GOLD MINER

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Au

XTM – TSXV 10

COMMODITY ALLOCATION DIVERSITY MITIGATES RISK W

Sn

Au PGM

Ni

Cu

Co

➢ Moderate exposure to energy metals ➢ Base metals prices forecasted to rise

45%

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45%

➢ 45% Gold hedge ➢ Gold price forecasted to continue to rise

XTM – TSXV | Q2 2018

XTM – TSXV 11

Sunday Lake; Location SUNDAY LAKE ➢ ➢ ➢

➢ ➢

Commodity: PGM-Ni-Cu Location: Thunder Bay, Ontario Geology: MCR-related maficultramafic Intrusion Ownership: 25% carried interest Status: Implats Operator

“We currently ascribe an insitu value of $20M for the Sunday Lake project.”

XTM’s 25% Free Carry = >$5M INVEST IN TOMORROW, TODAY.

XTM – TSXV 12

DRILLING HIGHLIGHTS INTERVAL

PRECIOUS METALS

B - east

A - west HOLE ID

SUNDAY LAKE PROJECT

➢ Broad zones of multigram mineralization with a higher grade core ➢ Best results come from the “Big Red’ MT anomaly.

From To Length Pt (m) (m) (m) (g/t) SL-13-002 395.00 415.20 20.20 2.11 SL-14-003 526.00 541.00 15.00 1.80 SL-15-010 723.00 738.00 15.00 1.25 SL-15-013 849.70 892.60 42.90 1.92 including 871.40 881.50 10.10 3.18 SL-17-18B 667.70 703.15 35.45 1.65 including 684.50 703.15 18.65 2.43 SL-18-021 863.50 899.35 35.85 2.40 including 875.05 898.35 23.30 3.34 with 890.85 897.35 6.50 5.17 SL-18-022 1039.00 1072.20 33.20 1.68 including 1056.00 1066.90 = $3.2 10.90 M 3.08 40% CGM Ownership SL-19-026 1392.00 +1433.20 41.20 3.22 including 1417.40 1433.20 15.80 30% SPC Ownership = $3 M 5.42 with 1418.85 +1427.15 8.30 7.67 SL-19-029Energy 1405.00 1466.00 61.00 = $350K 1.20 Note: Bubbles Looking 9% Forum Metals Ownership including 1455.46 1463.63 8.17 3.20 scaled to 3E North + 910.00 21.00 = $186K 0.60 (Pt+Pd+Au) grade 0.4%SL-20-031 Solog/tGrowth Corp931.00 Ownership Including 911.00 912.00 1.00 1.67 SL-20-032-W1 1263.00 1286.00 23.00 1.29 including 1270.80 1280.00 9.20 2.27 SL-20-033 1435.00 1461.00 26.00 1.38 including 1442.00

BASE METALS

1450.00

8.00

2.15

Pd (g/t) 0.95 0.92 0.75 1.40 2.28 1.09 1.49 1.32 1.83 2.62 1.03 1.65 2.08 3.35 4.97 0.80 2.00 0.37 1.28 1.03 1.85 1.05

Au (g/t) 0.16 0.12 0.08 0.11 0.16 0.09 0.13 0.18 0.26 0.55 0.13 0.25 0.21 0.34 0.42 0.15 0.33 0.05 0.10 0.09 0.17 0.12

3E PGE (g/t) 3.22 2.84 2.08 3.43 5.62 2.83 4.05 3.90 5.43 8.34 2.84 4.98 5.51 9.11 13.06 2.15 5.53 1.02 3.05 2.41 4.29 2.55

Ni (%) 0.11 0.09 0.08 0.17 0.28 0.16 0.17 0.17 0.21 0.36 0.12 0.14 0.19 0.24 0.32 0.15 0.2 0.08 0.17 0.13 0.18 0.13

Cu (%) 0.26 0.22 0.2 0.44 0.71 0.41 0.48 0.43 0.6 1.08 0.34 0.51 0.57 0.88 1.23 0.22 0.51 0.15 0.40 0.33 0.57 0.25

1.57

0.17

3.89

0.15

0.4

Eq values are calculated using $5.36 Ni, $2.31 Cu, $756.00 Pt, $1,833.00 Pd, $1,696.00 Au US.

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XTM – TSXV 13

MT Conductance Map SUNDAY LAKE PROJECT ➢ MT survey used as main exploration tool. ➢ Following linear trends of conductive response. ➢ Correlates to potential structures, thickening of ultramafic and sulphides traps.

SL-15-013 42.9m @ 3.43 g/t PGM incl. 10.1m @ 5.62 PGM

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XTM – TSXV 14

Saturday Night; Location SATURDAY NIGHT ➢ ➢ ➢

➢ ➢ ➢

Commodity: PGM Location: Thunder Bay, Ontario Geology: MCR-related maficultramafic Intrusion Ownership: 100% Status: Seeking Partner Stage: Geophysics and 1 drill holed completed

Identical to and along trend from Sunday Lake

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XTM – TSXV 15

Sunday Lake SATURDAY NIGHT PROJECT ➢ Similar negative magnetic signature as other wellmineralized intrusions

TBN Project Saturday Night

Thunder

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XTM – TSXV 16

COMPARISON

SATURDAY NIGHT PROJECT

Saturday Night

Sunday Lake

Ownership

100% XTM

25% Carried Interest

Age

Proterozoic – MCR related. No date.

Proterozoic – MCR related, 1103.5Ma.

Size

800m by 500m (based on ground magnetics, 225m thick.

1.25km by 1.75 km, 200-800m thick.

Geology

Layered mafic to ultramafic intrusion.

Layered mafic to ultramafic intrusion and chonoliths.

Alteration

Strongly altered and highly magnetic hangingwall rocks.

Strongly altered and magnetic hangingwall rocks and upper lithologies. Structurally controlled. Altered footwall.

Mineralization

Disseminated to blebby cpy+po along the basal contact.

Disseminated, blebby to massive cpy+po along the basal contact in structural embayments.

Disseminated and veins in the footwall.

40% CGM Ownership = $3.2 M + Drilling 1 hole/601metres 30% SPC Ownership = $3 M + Magnetics Strong reversely polarized circular magnetic 9% Forum Energy Metals Ownership = $350K anomaly. Coincident with highly magnetic + hangingwall rocks.

0.4% Solo Growth Corp Ownership = $186K

33 holes/~22,050 metres Strong reversely polarized circular magnetic anomaly. Coincident with highly magnetic hangingwall rocks.

Gravity

Moderate gravity response.

Strong gravity response.

MT

Strong MT response, 1Hz-40kHz

Strong MT response, 10kHz-0.001Hz

Discovery hole

6.25m @ 1.07g/t, incl: 0.30m @ 4.0g/t PGM, 0.56%Cu.

3.65m @ 1.02g/t, incl: 1.05m @ 1.67g/t PGM, 0.60%Cu.

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XTM – TSXV 17

Maude Lake; Location ▪ Located 160 km NE of Thunder Bay. ▪ 10 km north of the TransCanada Highway.

▪ Located in the Thunder Bay Mining District in the Pays Plat Lake Area and the Lower Aquasabon Area.

▪ Property in about 14 km2 in size.

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XTM – TSXV

Maude Lake; Showing

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XTM – TSXV 19

Maude Lake; Results ▪ 2001-2004: Novawest Resources – mapping, sampling, 11 drill holes for 1,502 m.

Novawest geologists suggested that mineralization is associated with a pyroxenite that may have intruded the granites.

▪ Field sampling returned very high, high tenor Ni-Cu-Co values from the main showing.

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XTM – TSXV

Highland Gold; Regional Setting • The Avalon composite terrane: Orogenic (mesothermal) and Epithermal styles of gold: – Haile (4.4 Moz), Hope Brook, NFLD (0.84 Moz Ind., 0.11 Moz Inf.) • Highland is an under-explored part of the Avalon that has been essentially overlooked • 107 Km2 Property hosting over 30 gold showings

Highland Project

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XTM – TSXV 21

Highland Gold; Large Epithermal Footprint Compelling evidence for big system ✓ Large, intense epidote, qtz, albite, sericite alteration ✓ Coincident with 4 Km long region of low magnetic susceptibility developed around one of the major structures

Widespread gold mineralization in hanging wall ✓ > 30 High grade gold showings ✓ 9 showing areas returned grab samples greater than 8 g/t, 23 greater than 1.7 g/t, 104 g/t sample from Zone 6B ✓ 3,000 tonne bulk sample with 26 g/t head grade processed in early 2,000’s at Main Zone ✓ 9.14m @ 23.22 g/t Au (2018) INVEST IN TOMORROW, TODAY.

Projec t Locati on

4km Long Alteration Zone Magnetite Destruction

Hole TMRB-18-01 9.14m grading 23.22 g/t Au

Macmil lan Hydro Reserv oir

Main Zone

Legend

2018 RAB Gold Showing Program Property Outline Low Mag Alteration Very Low Mag Alteration Fault Structure

XTM – TSXV 22

Wollaston: Sedimentary Hosted Copper Wollaston Cu Project •

100% owned along trend from Janice Lake

•

Covers known Cu showings interpreted to be on-strike equivalents to Janice Lake

•

Grab samples returned: 1.73 to 4.52 % Cu, 0.17 to 0.42 oz Ag/t, and 0.01 to 0.03 oz Au/t

Janice Lake •

Widespread copper mineralization exposed in bedrock over a 10 km x 25 km area (analogous to Udokan; 3.1Bt @ 1% Cu)

•

>20 surface showings returning grabs 0.34 to 9.35% copper and 0.7 to 61.7 g/t silver

•

XTM hold 2% NSR and $6M in Milestone Payments

•

RTEC can earn up to 80% from Forum by spending $30M

•

RTEC intersections include: 51.8m @ 0.57% Cu, 1.50 g/t Ag Incl. 9.1m @ 1.09% Cu, 1.39 g/t Ag 5.0m @ 1.32% Cu,3.42 g/t INVEST IN TOMORROW, TODAY.

XTM – TSXV 23

Wollaston Cu Project Janice Lake - RTEC Deal $10M over 4 years (51%) $30M over 7 years (80%) Currently building 100 km road and 65 man drill camp.

XTM New Staking 15,000 Ha

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XTM – TSXV 24

Aylmer IOCG; Location Large Scale Copper-Gold System ✓ ~3,131 Ha encompassing 119 mining claims located northeast of the Sudbury Basin, with favourable structures and geology ✓ Under-explored polymetallic gold district has been recently identified by the Geological Survey of Canada as a potential Iron-Oxide-Copper-Gold (“IOCG”) district ✓ Extensive trends of brecciated and strongly sodic altered rocks close to major crustal structures

Land packages totaling 154 km2 covering a range of polymetallic Gold, Copper, Silver, and Tungsten deposits adjacent to the Sudbury Igneous

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XTM – TSXV 25

Bancroft Ni-Cu-Co; Location Energy Metals Close to Market 3,833 hectares of mining claims 2 hour drive northeast of Toronto Good property access, infrastructure Acquired from First Nickel out of receivership in 2016 ✓ First Nickel spent >$5 million developing targets and drilling ~7,500 m ✓ ✓ ✓ ✓

Discovered PGM mineralization at Raglan Hills and identified other NiCu-PGM target opportunities that remain to be followed up on

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XTM – TSXV 26

Bancroft Ni-Cu-Co; Raglan Hills Area ML North PGM ✓ 2009 PGM discovery ✓ Drilling by FN intersected up to 5.05 m grading 1.98 g/t PGM (Pt+Pd) ✓ Work by Transition in 2020 highlights coincident mag, EM bio-geochemical responses at showing ✓ Similar targets identified that merit exploration follow up

Raglan Cu-Ni Showing ✓ Cu-Ni mineralization in gneisses ✓ Near surface intersections include: 5.80m grading 0.64% Cu, 0.47% Ni, and 9.1m grading 0.25% Cu, 0.32% Ni including 1.2m grading 0.77% ✓ Cu, 1.08% INVEST IN TOMORROW, TODAY.

XTM – TSXV 27

SPC NICKEL CORP; Sudbury Mining Camp 15% Owned West Graham Deposit ▪ Ind: 8.55Mt @ 0.45% Ni, 0.31% Cu ▪ Inf: 2.0Mt @ 0.38% Ni, 0.30% Cu

Lockerby East Deposit ▪ Ind: 0.18Mt @ 2.32% Ni, 0.78% Cu ▪ Inf: 0.04Mt @ 2.93% Ni, 0.80% Cu

Aer-Kidd Property ▪ Past Producer ▪ Exceptionally High Grade Intersections ▪ Advanced Exploration

Aer-Kidd

Lockerby East INVEST IN TOMORROW, TODAY.

XTM – TSXV 28

CGM: 226 km2 in the Abitibi Producing Mine Past Producing Mine Undeveloped Resource

N 101

Major Fault Abitibi Greenstone Rocks

11

Kirkland Lake Gold Macassa 2.0 Moz @ 20.8 g/t (P+P)

DeSantis ✓ Historical gold producer in the heart of Timmins ✓ Outlined Resources with exploration upside

Agnico Eagle Upper Beaver 0.7 Moz @ 5.4 g/t (P+P)

66

Alamos Gold Young Davidson 3.6 Moz @ 2.7 g/t (P+P)

Tahoe Gold Lakeshore Mine 0.24 Moz @ 3.21 g/t (P+P)

McEwen Mining Black Fox Complex 1.5 Moz M&I

Quebec Ontario

Goldcorp Dome-Hollinger > Moz @ 2.3 Moz @ 1.55 g/t (P+P)

West Matachewan

101

✓ 15 km from Young Davidson ✓ 144 Situated on 25 km of prolific Cadillac Larder Break

Ridout West

South Kirkland

✓ Optioned to IAMGOLD ✓ Grab samples returned up to 57.3 g/t Au

✓ Camp size property package ✓ Located on new trend south of Kirkland Lake (host to 35 M oz) ✓ Historical Resource and UG Infrastructure

Ridout Fault

IAMGOLD Cote Lake 8.3 Moz @ 0.9 g/t (Ind)

560

Tahoe Resources Juby Gold 1.1 Moz @ 1.3 g/t (Ind) 2.9 Moz @ 0.9 g/t (Inf)

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CGM Property

0

40km

Acquired from Osisko

XTM – TSXV

MANAGEMENT TEAM

➢

➢ ➢

SCOTT MCLEAN

GREG COLLINS

HBSc. P.Geo.

B.Sc. Eng., P.Geo.

TOM HART M.Sc, P.Geo

CEO & Co-founder

COO & Co-founder

VP Exp

2004 PDAC Prospectors of the Year for Nickel Rim South Discovery 2014 Ontario Discoverer of the Year 35 years experience, 23 years with Falconbridge/ Xstrata (Responsible for the Sudbury Exploration Investment)

➢ ➢

➢

Previous VP Exploration for Crowflight Numerous Ni-Cu-PGM discoveries in Canada and Vietnam Over 20 years experience in exploration, mine planning and operations, and management

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➢

➢

➢

GRANT MOURRE M.Sc, P.Geo Exploration Manager

Co-recipient of the ➢ 16 years minerals Northwestern Ontario exploration within NA Prospectors Association focused primarily on Ni2004 Discovery of the Year Cu-Co-PGMs. Award ➢ 2014 Ontario Discoverer Specialist in lode gold and of the Year base metals systems on ➢ 10 years exploration in surface and underground the Sudbury Basin Over 30 years experience in exploration and mapping programs XTM – TSXV | Q2 2018 XTM – TSXV 30

BOARD OF DIRECTORS SCOTT MCLEAN, HBSc. P.Geo. ➢

➢ ➢

2004 PDAC Prospectors of the Year for Nickel Rim South Discovery (now Glencore/Xstrata) 2014 Ontario Discoverer of the Year 35 years experience, 23 years with Falconbridge/Xstrata (Responsible for the Sudbury Exploration Investment)

WILLIAM PEARSON, PH.D., P.GEO. ➢ ➢ ➢

JASON MARKS, P.ENG., MBA ➢ ➢

CEO of Metric Asset Management Past CEO and Chief Investment Officer of Fiera Quantum Limited, CEO and Chief Investment Officer of GMP Investment Management, Vice Chair at TD Securities, Senior Vice President at TD Bank, and Vice President at Citibank Canada

2015 recipient of the PDAC Distinguished Service Award Chief Technical Advisor for Eloro Resources in Peru Over 40 years experience in exploration and mine development programs in 18 countries in North and South America, Europe, East Asia and Australia

JON BAIRD, B.Sc., P.ENG. ➢ ➢

➢

BRIAN MONTGOMERY, LL.B.

THOMAS ATKINS, B.Sc., MBA ➢

➢

Past CEO of 4 publicly listed mining companies, raised approximately $100 million in various equity and debt financings 30 years experience successfully leading exploration and development initiatives in the Americas

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2013 recipient of the Queen Elizabeth II Medal and the CIMM Vale Medal Professional geophysicist and independent Consultant since retiring as the Managing Director of the Canadian Association of Mining Equipment and Services for Export in January 2015 Past president of the Prospectors and Developers Association of Canada

➢ ➢

➢

Lawyer and a retired partner of Weaver Simmons LLP Currently counsel with the Moutsatsos Laakso Alexander LLP law firm in Sudbury specializing in business and corporate law Recognized for his expertise in all aspects of mining, corporate, real estate, and business law

XTM – TSXV | Q2 2018

XTM – TSXV 31

WHY TRANSITION METALS NOW?

KEY CATALYSTS $$ SPC Nickel & Canadian Gold Miner Public Transactions in 2021

Potential for two share dividends

Continued Partner Funded Exploration

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Au

Ni

Cu

Co

PGM

New project acquisitions and portfolio growth

Optioning of key projects including Saturday Night, Maude Lake, Highland, Sawmill, Aylmer

XTM – TSXV 32

Scott McLean P.Geo. CEO & Co-founder

smclean@transitionmetalscorp.com #5 - 410 Falconbridge Road Sudbury ON P3A 4S4 Telephone: 705-677-6178

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XTM – TSXV | Q2 2018

XTM – TSXV 33