Peloton releases results of North Elko maiden drilling

Executive Summary

• Peloton Minerals Corp. announced successful maiden drilling results at its 100%-owned North Elko Lithium Project (NELP) in Nevada, marking the first lithium-focused drilling on the property.
• The program intersected lithium mineralization in all four vertical exploration holes, with the best interval averaging 618 ppm lithium over 155 feet, and strong anomalies in critical metals cesium and rubidium.
• Results confirm a thick, laterally extensive lithium-bearing claystone system, validating the exploration model and setting the stage for further resource definition drilling and metallurgical testwork.

Key Details

• Drilling Program Scope: Four vertical exploration holes drilled to a maximum depth of 500 feet (152 metres) across a 37-square-kilometre claim block.
• Lithium Intercepts:
  • Lithium mineralization was intersected in all four holes, starting at the 20-to-25-foot interval.
  • Of 352 five-foot samples assayed, 89% were anomalous to strongly anomalous in lithium.
  • Best downhole interval: 155 feet averaging 618 ppm lithium, including intervals up to 1,155 ppm lithium.
  • Last five-foot sample interval recorded 1,150 ppm lithium.
• Critical Metals:
  • Cesium and rubidium are strongly anomalous in all four holes.
  • Average of all 352 samples: 77 ppm cesium and 121 ppm rubidium.
  • Selected rare earth elements (e.g., cerium) also highly anomalous.
• Geological Confirmation:
  • Confirmed presence of lithium-bearing claystones to depths of at least 500 feet over a 7 km x 3.5 km area.
  • Validated basin-scale exploration model; NELP underlain by similar lithium-bearing claystone system as adjacent projects.
• Adjacent Resource Context:
  • NELP is contiguous with Surge Battery Metals' Nevada North lithium project, which hosts a defined resource with average grades in the range of several thousand ppm lithium.
  • While NELP grades are currently lower, the confirmation of a thick, anomalous sequence adjacent to a known high-grade resource is considered a positive outcome.
• Next Steps:
  • Additional drilling focused on stepouts and tighter spacing in prospective zones.
  • Three holes stopped at 500 feet still in clay-bearing material; one hole stopped at 325 feet after hitting basement rock.
  • Detailed stratigraphic and structural interpretation.
  • Expanded mineralogical and metallurgical testwork on lithium, cesium/rubidium, zeolites, and high silica sands.
• QA/QC:
  • Certified reference standards, blanks, and duplicate samples inserted at ~17.5% rate.
  • Samples transported by Senior Geologist Dr. Richard C. Capps to ALS Minerals facility in Elko, Nev., on Nov. 23, 2025.
• Qualified Person: Dr. Richard C. Capps, PhD, Senior Geologist and Director of Peloton Minerals.

Notable Quotes

• "The four holes were cased to 20 feet and sampling was on five-foot (1.52-metre) intervals from the 20-to-25-foot interval to the total depth. The holes were positioned across a large portion of the 37-square-kilometre claim block to test basin geometry, stratigraphy and the extent of lithium and clay-bearing paleolake (historic lake) sediments and tuffs indicated by previous geophysics and surface sampling."
• "These results provide first-pass confirmation that the NELP basin hosts a significant lithium- and critical-mineral-bearing volcano-sedimentary system, warranting further systematic exploration drilling and technical evaluation."
• "Peloton considers the presence of cesium and rubidium to be an important potential value addition to the NELP project."