Private Placement

PELOTON MINERALS CORPORATION

NEWS RELEASE

May 19, 2026 CSE SYMBOL: PMC

OTCQB Symbol: PMCCF

Private Placement

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

Symbol: PMC; OTCQB Symbol: PMCCF) intends to close a private placement of units priced

at CDN$0.09 per unit for total proceeds of up to $ 4,500,000 in a series of tranches over the next

two months. The first tranche is expected to be about $1,000,000. Each unit consists of one

common share and one common share purchase warrant exercisable for three years at $0.12. The

proceeds of the Private Placement will be used for exploration in northern Nevada and working

capital.

The Private Placement will be conducted in reliance upon certain prospectus exemptions, including

the exemption allowing issuers to raise capit al by distributing securities to existing shareholders

(the “Existing Shareholder Exemption”) contained in OSC Rule 45-501 (2.9) and the various

corresponding blanket orders and rules of partic ipating jurisdictions (with the exception of

Newfoundland and Labrador) as well as other available prospectus exemptions, including sales to

accredited investors and close personal friends and business associates of directors and officers of

the Company. The Company has set May 19, 2026, as the record date for the purpose of

determining existing shareholders entitled to purchase Shares pursuant to the Existing Shareholder

Exemption.

The securities issued in connection with the Private Placement are subject to a hold period expiring

four months and one day from the issuance of the securities.

For further information please contact:

Edward (Ted) Ellwood, MBA

President & CEO 1-519-964-2836

Peloton Minerals Corporation is a reporting is suer in good standing in the Provinces of British

Columbia and Ontario whose common shares are li sted 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 Elko County, Nevada,

a gold exploration project on the Carlin Trend, Nevada, and a non-controlling interest in a copper

porphyry project near Butte, Montana.

CSE has not reviewed and does not accept respon sibility 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.

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.