Private Placement & Exploration
PELOTON MINERALS CORPORATION
NEWS RELEASE
October 19, 2020 CSE SYMBOL: PMC
OTCQB Symbol: PMCCF
Peloton Closes $372,500 of
Additional Financing for Nevada Gold Exploration
London, Ontario – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE
Symbol: PMC; OTCQB Symbol: PMCCF) has received subscriptions for a private placement
totaling CDN$372,500 (the “ Private Placement ”) and consisting of 4,966,667 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 $0.1 25. The Company previously announced on August
20,2020 the closing of $595,097 in private placement financing on similar terms.
Of the total Private Placement, $222,500 was not subject to a finder’s fee and $150,000 was subject
to a finder’s fee payable to an arms length party. The finder’s fee consisted of $12,000 in cash and
160,000 brokers warrants with each broker warrant exercisable at $0.075 within three yea rs 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.
Peloton has three gold exploration projects in Elko County, Nevada and is preparing for a drilling
program this year (2020) on the Golden Trail Project. The Company has also initiated t he
permitting process on the two other Nevada projects in preparation for drilling next year (2021).
Further announcements on exploration plans are expected in the near term.
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 100,780,914 common shares issued and outst anding 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 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.