Peloton Closes $200,100 Financing

PELOTON MINERALS CORPORATION

NEWS RELEASE

May 4, 2021 CSE SYMBOL: PMC

OTCQB Symbol: PMCCF

Peloton Closes $200,100 Financing

London, Ontario – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE

Symbol: PMC; OTCQB Symbol: PMCCF) has closed a private placement totaling

CDN$200,100 (the “Private Placement”) and consisting of 2,668,000 units priced at CDN$0.075

per unit. Each unit consists of one common share and one common share purchase warrant

exercisable for three years at $0.125.

The Private Placement was subject to a finder’s fee payable to an arms length party. The finder’s

fee consisted of $1 6,008 in cash and 213,440 brokers warrants with each broker warrant

exercisable at $0.075 within three years to purchase additional private placement units consisting

of one common share and one common share purchase warrant exercisable for three years at

$0.125. Proceeds of the financing will be used to advance gold exploration in Nevada and working

capital.

For further information please contact:

Edward (Ted) Ellwood, MBA

President & CEO 1-519-964-2836

Peloton Minerals Corporation is a reporting issuer in good standing in the Province s of British

Columbia and Ontario whose common shares are listed on the CSE (Symbol: PMC) and trade in

the U.S. on the OT C QB (Symbol: PMCCF). There are 104,086,641 common shares issued and

outstanding in the capital of the Company.

Peloton owns three gold exploration projects located in Elko County, Nevada , and one gold

exploration project in Montana, USA which is now unde r 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.