Golden Trail Project drill mobilizing
PELOTON MINERALS CORPORATION
NEWS RELEASE
December 29, 2020 CSE SYMBOL: PMC
OTCQB Symbol: PMCCF
Drill Mobilizing to Peloton’s
Golden Trail Project, Elko County, Nevada
London, Ontario – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE
Symbol: PMC; OTCQB Symbol: PMCCF) announces that its drilling contractor is now
mobilizing to the Company’s Golden Trail Project in Elko County, Nevada (“Golden Trail”) to
complete a 2,400 foot reverse circulation drilling program consisting of about 12 drill holes. This
program will target a series of coincident surface anomalies where geology, mineralogy,
geochemistry and geophysics intersect to suggest these targets.
Golden Trail is a gold exploration prospect that has a Carlin-style alteration mineral assemblage
associated with anomalous gold. The prospect is 100% owned by Peloton , comprises
approximately 880 acres, and is located on the NE margin of the Long Canyon Gold Trend about
80 km northeast of Wells, Nevada and about 80 km north of the Long Canyon Newmont-Barrick
joint venture.
A major gravity anomaly underlies Golden Trail , derived from a regional USGS survey and
interpreted by the USGS to be a shallow pl uton or magmatic intrusion. A more recent detailed
Peloton gravity su rvey shows a change in gradient along the western boundary of the NW
striking gravity anomaly and a series of coincident surface hydrothermal alteration anomalies
have been identified thro ugh hyperspectral airborne and surface technology and geochemical
sampling. These anomalies occur in the hanging wall of NW striking and NE dipping high -angle
normal faults, are high in ammonia il lite and alumina il lite which are often associated with
Carlin-style deposits , and geochemistry shows ele vated pathfinder el ements and gold
mineralization.
Drill results are expected in the first quarter of 2021. The Company has also initiated the
permitting process for its two other projects in Elko County, Nevada and hopes to have all three
projects permitted for drilling by the spring of 2021. Further announcements will be made as the
Company moves forward.
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-964-2836
Richard C. Capps, PhD, is the qualified person responsible for approving the technical
information contained within this release.
Peloton Minerals Corporation is a reporting issuer in good standing in the Province o f 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 101,218,641 common shares issued and outstanding in the
capital of the Company.
Peloton owns three gold exploration projects l ocated in Elko County, Nevada , and one gold
exploration project in Montana, USA which is now under option to Frederick Private Equity
Corporation and African Metals Corporation.
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 information are identified with words such as "anticipate ", "believe", "expect", "plan", "intend",
"potential", "estimate", "propose", "project", "outlook", "foresee" or similar words suggesting future outcomes or
statements regarding an outlook.
Such statements include, among others, those concerning the Com pany’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 results or other expectations to differ ma terially 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 coul d 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 and availability of capital.
Although the Company believe s 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 an d statements except as
required by law.