Mr. Edward Ellwood reports

PELOTON COMMENCES THE MAIDEN DRILLING PROGRAM AT THE NORTH ELKO LITHIUM PROJECT, NEVADA

The maiden drilling program has commenced on Peloton Minerals Corp.'s North Elko lithium project (NELP) located in northeastern Nevada.

The exploration drilling targets subsurface lithium-bearing claystone layers and potentially other critical minerals. The overall target area is about 30 square kilometres (11.5 square miles) in dimension and has been identified through a series of systematic surface exploration programs conducted over the past two field seasons.

Four widely spaced holes will be drilled in this initial program to a depth of about 500 feet each, to test the orientation, stratigraphy and potential mineralization contained within clay layers at the four drill locations. The four holes will be spaced about seven kilometres (4.3 miles) apart on the northeast-southwest axis and about 3.5 kilometres (two miles) apart on the northwest-southeast axis. A map accompanies this release showing the approximate drill hole locations. Drilling is expected to take about three weeks and assays will take about another six weeks after drilling is complete.

Peloton holds two drilling permits over the property and presently has 24 drill pad locations permitted for follow-on programs. All drill pads are located beside existing roads to minimize environmental disturbance, and more drill pads could be added as programs proceed.

NELP is located immediately adjacent to a high-grade lithium deposit discovered in 2023 by Surge Battery Metals in northeastern Nevada. NELP is about 37 square kilometres (14.25 square miles) in size and is 100 per cent owned with no royalties outstanding. Peloton exploration work to date comprises an airborne hyperspectral survey, airborne magnetics, radiometric and VLF-EM surveys, geologic mapping, soil geochemistry over a 32-square-kilometre grid, prospecting, XRD analysis on over 1,000 surface samples, and surface tTEM geophysics.

Peloton president and chief executive officer Edward (Ted) Ellwood commented, "We are pleased to reach the initial drilling stage after extensive surface work, and are excited about getting the drilling program under way."

Richard C. Capps, PhD, is the qualified person under National Instrument 43-101 that has approved the technical information contained within this release. Dr. Capps is the company's senior geologist and a director.

About Peloton Minerals Corp.

Peloton Minerals is a reporting issuer in good standing in the provinces of British Columbia and Ontario whose common shares are listed on the Canadian Securities Exchange (symbol: PMC) and trade in the United States on the OTCQB (symbol: PMCCF). There are 150,228,177 common shares issued and outstanding in the capital of the company.

Peloton's exploration portfolio includes a 100-per-cent interest in the North Elko lithium project in northeastern Nevada, which is prospective for lithium, uranium, critical and rare-earth minerals, as well the Golden Trail and Independence Valley Carlin style gold projects in northeastern Nevada, and a non-controlling interest in a copper porphyry project near Butte, Mon.

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