Peloton Receives Airborne Geophysical Results Prior to Upcoming Drilling Program at the North Elko Lithium Project, Nevada

Executive Summary

• Peloton Minerals received high‑resolution airborne geophysical data for its 100 % owned North Elko Lithium Project (NELP) in northeastern Nevada.
• The survey identified NNE‑oriented high‑angle faults and NW‑trending through‑going structures that align with surface hectorite and other hydrothermal mineral occurrences, guiding future drill target selection.
• Peloton plans to commence drilling later this month and will issue a separate announcement when the program starts.

Key Details

• Survey type: Fixed‑wing high‑resolution airborne geophysics (Horizontal Magnetic Gradient, Radiometric (gamma‑ray), VLF‑EM with resistivity).
• Coverage: 63 north–south traverse lines at 200 m spacing plus 5 east–west control lines at 2,000 m intervals; total line length = 535.5 km.
• Structural interpretation: NNE high‑angle faults and NW through‑going structures coincident with surface ridges bearing hectorite and other hydrothermal minerals, corroborated by mapping, hyperspectral imaging, outcrop/soil chemistry, and XRD mineralogy.
• Project size: ~37 km² (14.25 mi²) fully owned, no royalties.
• Prior work at NELP includes airborne hyperspectral, magnetics, radiometric, VLF‑EM surveys; geologic mapping; 32 km² soil geochemistry grid; prospecting; XRD analysis of >1,000 surface samples; surface tTEM geophysics.
• Upcoming activity: Drilling to begin later in November 2025; a further press release will detail the drilling program.

Notable Quotes

“This survey is part of a systematic surface exploration program conducted over the past two field seasons at NELP. The data collected will be invaluable as the company moves toward the drilling phases of the project.” – Edward (Ted) Ellwood, President & CEO

Materiality Assessment: Non‑Material – Positive (provides material‑type exploration information but does not yet constitute a definitive resource or financial impact).