Peloton Minerals Corporation (PMC) has announced the commencement of a multi-faceted lithium exploration program. This follows a $1 million financing completed in early June 2024.

North Elko Lithium Project Overview

The North Elko Lithium Project (NELP), wholly owned by Peloton, is located adjacent to a major lithium discovery by Surge Battery Metals in northeastern Nevada.

Key Exploration Activities

The exploration program includes several significant activities:

1. **Soil Geochemistry Sampling**: The collection of 923 soil samples across the 35 square kilometer property was completed in two weeks. These samples are now being prepared for assay.

2. **Additional Staking**: Additional stakes have been completed, with further details to be announced in a forthcoming press release.

3. **Detailed Geologic Mapping**: The initial phase of geologic mapping began last week and will continue through July. This involves field notations, XRD mineralogy analysis, and spectrometer prospecting.

4. **Airborne Geophysical Survey**: An airborne survey covering 535 line-kilometers, including Magnetics, Radiometrics, and Matrix Digital VLF-EM, will commence shortly.

5. **Drilling Programs**: A shallow packsack drilling program is set to start after initial results are reviewed. A deeper core drilling program is planned for late 2024 and 2025.

Administrative and Future Plans

Peloton President and CEO Edward (Ted) Ellwood commented on the prompt commencement of the exploration program, highlighting the efficiency and competence of the contractors and suppliers.

Peloton Minerals Corporation also has exploration projects in the Carlin Trend, Nevada, and a gold and copper project in Montana. The company has 136,598,705 common shares outstanding.

Contact Information

Edward (Ted) Ellwood, MBA
President & CEO
1-519-697-2313

Richard C. Capps, PhD, is the qualified person responsible for overseeing and approving the technical information in this release.

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