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Peloton Exploration Programs Begin at North Elko Lithium Project

Peloton Minerals Corporation (PMC; PMCCF) has announced the commencement of a multi-faceted exploration program at its 100% owned North Elko Lithium Project (NELP) in northeastern Nevada. This follows the completion of a $1 million dollar financing in early June 2024.

Exploration Highlights at North Elko Lithium Project

Exciting progress has been made, including:

Soil Geochemistry Sampling

Peloton has collected 923 soil geochemistry samples across the entire 35 square kilometer property. The samples, spaced 200 meters apart, were collected over two weeks and are now being shipped for preparation and assay.

Additional Claim Staking

New claims have been staked. Following the filing and recording, Peloton will release detailed information.

Geologic Mapping

The initial phase of a detailed geologic mapping program took place last week and continues through July. This includes field notations from the geochemistry sampling, XRD mineralogy analysis, and spectrometer prospecting.

Airborne Geophysical Survey

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

Results from assays or other analyses are expected approximately six weeks after fieldwork completion. A shallow packsack drilling program will start upon initial results, followed by a deeper core drilling phase in late 2024 and 2025. Drill permit applications are in preparation.

Leadership and Future Directions

Peloton President and CEO Edward (Ted) Ellwood commented, “The contractors and suppliers are top-notch and very efficient. We are off to a strong start and expect significant milestones over the summer and fall.”

Peloton Minerals Corporation is a reporting issuer in British Columbia and Ontario listed on the CSE (PMC) and trading in the U.S. on the OTCQB (PMCCF), with 136,598,705 outstanding common shares.

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

Richard C. Capps, Ph.D., is the qualified person responsible for approving the technical information in this release.

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