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Peloton Exploration Advances North Elko Lithium Project in Nevada

Peloton Exploration Programs at North Elko Lithium Project

June 25, 2024 – TheNewswire – London, Ontario – Peloton Minerals Corporation (PMC, PMCCF) reports that following a $1 million financing in early June 2024, the company has commenced a multi-faceted program for lithium exploration at its 100% owned North Elko Lithium Project (NELP) in northeastern Nevada.

Soil Geochemistry Sampling Completed

Collection of 923 soil geochemistry samples at 200-meter spacings across the entire 35 square kilometer property is complete. The team traversed more than 200 kilometers in two weeks to collect the samples which are now being shipped for preparation and assay.

Additional Staking and Geologic Mapping

Additional staking has been completed. Upon filing and recording the new claims, the company will issue a press release with more details.

The initial phase of detailed geologic mapping started last week and will continue through July. Field notations from the geochemistry sampling, XRD minerology analysis, and Spectrometer prospecting will support this program.

Upcoming Airborne Geophysical Survey

An airborne geophysical survey covering 535 line-kilometers will start shortly. This survey includes Magnetics, Radiometrics, and Matrix Digital VLF-EM.

Assay results are expected about six weeks after fieldwork completion. A shallow packsack drilling program is planned post-results, with deeper core drilling in late 2024 and 2025. New or renewed drill permit applications are in progress.

Anticipated Milestones

Peloton President and CEO Edward (Ted) Ellwood commented, “The contractors and suppliers selected for this program are top-notch and are wasting no time. It is exciting to start strong, and I expect many important milestones to be completed this summer and fall.”

Company Overview

Peloton Minerals Corporation is a reporting issuer in good standing in British Columbia and Ontario. Its common shares are listed on the CSE (PMC) and trade in the U.S. on the OTC QB (PMCCF). There are 136,598,705 common shares issued and outstanding.

Peloton’s exploration portfolio includes the North Elko Lithium Project, a gold exploration project on the Carlin Trend, Nevada, a past producing gold project in Montana under option to a JV partner, and a non-controlling interest in a copper porphyry project near Butte, Montana.

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