TC Permit and Primary Drill Target
PELOTON MINERALS CORPORATION
NEWS RELEASE
June 29, 2021 CSE SYMBOL: PMC
OTCQB Symbol: PMCCF
Drilling Permit Received on the
Texas Canyon Project, Elko County, Nevada
London, Ontario – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE
Symbol: PMC; OTCQB Symbol: PMCCF) is pleased to announce that it has received a
drilling permit for the Texas Canyon Project, Nevada from the US Bureau of Land Management
and has posted the required reclamation bond. Texas Canyon is comprised of a 909 -acre claim
package located in Elko County, Nevada on the northeastern margin of the Long Canyon Gold
Trend, about seven kilometers west of the Company’s Golden Trail Project, and about 55
kilometers north of the Newmont-Barrick Long Canyon Joint Venture.
Texas Canyon is centered on a broad zone of structurally controlled hydrothermal alteration,
including decalcification and silica replacement of the limestone, localized along numerous
northeast-striking high -angle veins and in bodies of clast -supported polyphase hydrothermal
breccia and adjacent hydrothermal replacement zones. Silicification is common to all areas of
anomalous gold mineralization and occurs within strongly altered limestone and breccia that is
younger than the high angle structures that it cuts.
The primary drill target is a roughly circular radiometric geophysical anomaly coincident with
polyphase breccia centered on the historic Prince uranium mine and anomalous in gold,
molybdenum (detection level up to 1660 ppm), and uranium mineralization (up to 7 percent in
historic data and from detection up to 1% in recent surface sampling). Mineralization is related to
subvertical bodies of hydrothermal breccia and alteration and likely along synvolcanic
graben/caldera r elated structures. Coincident late gold -molybdenum-uranium mineralization is
associated with the polyphase breccia.
Two diagrams showing the area of primary drilling interest accompany this release. One diagram
is a detailed geology map of the property an d the second is the radiometric geophysical map and
data. A yellow circle on each diagram shows the area of primary drilling interest.
The Company is now permitted for drilling on all three of its Elko County, Nevada projects .
With these permits in hand, the Company plans to seek a joint venture partner on two of the
projects, Texas Canyon and Independence Valley, which are both permitted and drill ready. The
Company plans to conduct geophysical surveys at the Golden Trail Projec t this summer and is
also actively pursuing the acquisition of an exploration stage copper porphyry project located in
the United States that the Company believes has considerable potential. Further announcements
will be made as the Company proceeds on the various projects.
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 s of Ontario
and British Columbia whose common shares are liste d on the CSE (Symbol: PMC) and trade in
the U.S. on the OTC 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 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 ar e identified with words such as "anticipate", "believe", "expect", "plan", "intend",
"potential", "estimate", "propose", "project", "outlook", "foresee" , “looking” or similar words suggesting future
outcomes or statements regarding an outlook.
Such stat ements 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 materially 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 f uture exploration work as expected or to
attract joint venture partners. 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; avai lability of capital; the worldwide economic and social impact of COVID -19; the duration and extent of
COVID-19; changes in general economic conditions and financial markets; the imposition of government restrictions
on business related to COVID-19, any positive cases of COVID-19 at a project site or in the area which may cause a
reduction or suspension in operations and activities which may ultimately affect and delay the exploration timeline;
and changes in prices for gold and other metals.
Although the Company believes that the expectations reflected in the forward -looking information or statements are
reasonable and does not believe that the worldwide COVID -19 situation will have any immediate or long term effect
on its projects, 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.
Texas Canyon Project Geology Map
Elko County, Nevada
Texas Canyon Project
Radiometric Survey Results and Data
Elko County, Nevada