Peloton receives airborne geophysical results at NELP

Executive Summary

• Peloton Minerals Corp. has received results from an airborne geophysical survey conducted earlier this year at its North Elko Lithium Project (NELP) in Nevada.
• The data reveals north to northeast high-angle faults and northwest through-going structures coincident with surface hectorite and hydrothermal minerals, which will guide the selection of drill locations.
• The company plans to begin drilling at NELP later this month, with further announcements to follow upon commencement.

Key Details

• Survey Type: High-resolution, fixed-wing geophysical survey recording horizontal magnetic gradient, radiometric (gamma ray), and VLF-EM including resistivity data.
• Survey Coverage: Covered NELP and surrounding areas, totaling 535.5 line kilometres.
• Survey Configuration: 63 north-south traverse lines flown at 200-metre spacings and five east-west control lines at 2,000-metre intervals.
• Geological Findings: Data shows NNE high-angle faults and NW through-going structures in the subsurface. These are coincident with NW ridges containing hectorite and other hydrothermal minerals at the surface.
• Corroboration: Findings are supported by mapping, airborne hyperspectral imaging, outcrop data, soil chemistry, and extensive XRD mineralogy.
• Project Status: Peloton plans to begin drilling at NELP later this month.
• Qualified Person: Richard C. Capps, PhD, Senior Geologist and Director, approved the technical information under National Instrument 43-101.
• Project Ownership: NELP is 100% owned by Peloton with no royalties outstanding.
• Project Size: Approximately 37 square kilometres (14.25 square miles).
• Location: Northeastern Nevada, adjacent to a high-grade lithium deposit discovered in 2023 by Surge Battery Metals.

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 and CEO