Additional Staking
PELOTON MINERALS CORPORATION
NEWS RELEASE
February 3, 2025 CSE SYMBOL: PMC
OTCQB Symbol: PMCCF
Peloton Stakes 200 Additional Claims
at the North Elko Lithium Project
Bringing the Total Ground Position to
53 Square Kilometers or 20 Square Miles
London, Ontario – Peloton Minerals Corporation (“ Peloton” or the “Company”) (CSE Symbol:
PMC; OTCQB Symbol: PMCCF) has staked and is filing for recording an additional 200 mineral claims
at its 100% owned North Elko Lithium Project ( “NELP”) located in north-eastern Nevada, bringing the
total to 642 mineral claims, or 53 square kilometers (20 square miles).
The new claims are across and contiguous with the former southern boundary of NELP and completely
cover Bell Canyon and Bell Canyon Road. Peloton’s recent drilling included one hole beside the
western portion of Bell Canyon Road (refer to Map 2) . That hole intersected lithium values that were
increasing at depth, with the bottom 155 feet of th e hole averaging 618 ppm, and last sample at the
bottom of the hole returning 1150 ppm lithium. The hole bottomed in claystone mineralization and will
be drilled deeper on the next drill program.
Peloton selected the Bell Canyon drill location as it is on strike from the NW oriented lithium zone that
Surge Battery Metals Inc. (“Surge”) has discovered on its adjacent property, tTEM geophysics, and a
drill log obtained from public State records for a water well hole drilled in 1965 that showed a sequence
of clay layers that were similar to what Surge has publicly reported from their drilling.
Map 1 accompan ying this release show s the new claim position . Map 2 accompan ying this release
shows the roads traversing NELP that Peloton has surveyed with tTEM geophysics , including Bell
Canyon Road, and the location of the four holes drilled to date.
Peloton will now conduct a series of studies using or combining the numerous datasets that the
company has obtained from airborne, surface and subsurface work, to refine drill targets for a follow -
on program this summer. This work will also include first pass metallurgical work to determine the
potential recoverability of cesium and rubidium that was encountered in initial drilling. Cesium and
rubidium assays were remarkably consistent in all four drill holes from top to bottom of the holes which
were widely spaced (7 kilometers by 3.5 kilometers – refer to Map 2). The average of all 352 drill
samples was 77 ppm cesium and 121 ppm rubidium. Information about these elements is available at
USGS Mineral Commodity Summaries 2025.
Upon finalizing the type and scope of the work and studies to be completed this winter the company
will issue a more detailed outline. This work is in preparation for a follow-on drill program this summer.
For further information, please visit the Company’s website at Pelotonminerals.com or contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-697-2313
Qualified person
Richard C. Capps, PhD, is the qualified person under NI 43 -101 that has approved the technical
information contained within this release. Dr. Capps is the Company’s Senior Geologist and a Director.
About Peloton Minerals Corporation
Peloton Minerals Corporation is a reporting issuer in good standing in the Provinces of British Columbia
and Ontario whose common shares are listed on the CSE (Symbol: PMC) and trade in the U.S. on the
OTC QB (Symbol: PMCCF) . There are 152, 567,062 common shares issued and outstanding in the
capital of the Company.
Peloton’s exploration portfolio includes the North Elko Lithium Project in northeastern Nevada which is
prospective for lithium, uranium, critical and rare earth minerals, as well the Golden Trail and
Independence Valley Carlin style gold projects in north eastern Nevada, and a non-controlling interest
in a copper porphyry project near Butte, Montana
Map 1 - Current Peloton Ground Position
(red outline is new claims)
Map 2 – Current Peloton Ground Position,
tTEM Surveyed Roads & Drill Holes
(blue lines are roads – drill hole locations are numbered)
CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this
release.
This news release contains "forward -looking information" (within the meaning of applicable Canadian securities laws) and "forward -looking statements"
(within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or info rmation are identified with words such as
"anticipate", "believe", "estimate”, "expect", “foresee”, "intend", “looking”, “plan”, "potential", "propose", "project" ,” suggests”, "outlook" or similar words
suggesting future outcomes or statements regarding an outlook.
Such statements include, among others, those concerning the Company’s plans for exploration activity and to conduct future exploration programs. Such
forward-looking information or statements are based on a number of risks, uncertainties, and assumptions which may cause actual resul ts or other
expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things,
management's expectations regarding its ability to initiate and complete future exploration work as expected. Actual results could differ materially due to
a number of factors, including, without limitation, operational risks in the completion of the Company’s future exploration work; technical, safety or regulatory
issues; availability of capital; changes in general economic conditions and financial markets; the imposition of government restrictions on business which
may ultimately affect and delay the exploration timeline; and changes in prices for metals that the Company is exploring for.
Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in
the Company’s securities should not place undue reliance on forward -looking statements because the Company can provide no assurance that such
expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release
and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.