Private Placement and Exploration
PELOTON MINERALS CORPORATION
NEWS RELEASE
August 20, 2020 CSE SYMBOL: PMC
OTCQB Symbol: PMCCF
Peloton Closes $595,097
Private Placement to Advance Exploration
London, Ontario – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE
Symbol: PMC; OTCQB Symbol: PMCCF) has received subscriptions for a non-brokered
private placement totaling CDN$597,097.10 (the “ Private Placement ”) and consisting of
7,934,629 units priced at CDN$0. 075 per unit. Each unit consists of one common share and o ne
common share purchase warrant exercisable for three years at $0.1 25. Proceeds will be used to
advance gold exploration in Nevada and working capital.
Peloton has three gold exploration projects in Elko County, Nevada, all of which have seen various
types of activity this summer with further activity planned over the balance of summer and fall.
The Golden Trail and Texas Canyon projects were the subject of a field reconnaissance and
mapping program over hydrothermal alteration minerology an omalies (elevated ammonia and
alumina illite) previously identified using airborne hyperspectral imaging technology . This
resulted in the company applying to amend its existing drilling exploration permit at Golden Trail
to incorporate drill pads near thes e anomalies. In addition, the field data collected at the Texas
Canyon project will now be incorporated into a new NI 43-101 technical report being prepared for
Texas Canyon. The amended drilling permit at Golden Trail is expected to be complete d in
September and the Texas Canyon report is also expected this fall. A new drilling exploration permit
at the Independence Valley project has also been initiated and is in process.
Upon finalizing the drilling permits and drilling plans, further announcements will be made.
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 of 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 87,879,618 common shares issued and outstanding in the capital of
the Company before the issuance of the shares described in this release.
Peloton owns three gold exploration projects located 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 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 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 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.
Although the Company believes that the expectations refl ected 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.