Peloton has Registered 200 Additional Claims to Cover a Large Underlying Clay Layer Shown to be Mineralized by Recent Drilling

Executive Summary

• Peloton Minerals added 200 additional mineral claims to its North Elko Lithium Project (NELP), bringing the total to 642 claims covering ~53 km².
• Recent drilling confirmed a widespread claystone stratigraphy with significant lithium, rubidium and cesium anomalies; the deepest hole returned up to 1,150 ppm Li.
• The company will focus on targeting higher‑grade horizons within the claystone and plans a follow‑on summer drilling program, including initial metallurgical testing.

Key Details

• Claim Expansion: Total claims now 642 (53 km² / 20 mi²) after staking an additional 200 claims.
• Geologic Confirmation: Surface geophysics identified extensive claystone; four widely spaced drill holes (≈7 km × 3.5 km spacing) intersected the claystone at depths from 20 ft to 500 ft, with a minimum thickness of 480 ft in three holes.
• Drill Hole Intercepts:
• Southern‑most hole – bottom 155 ft averaged 618 ppm Li, 160 ppm Rb, 28 ppm Cs; deepest sample returned 1,150 ppm Li, 178 ppm Rb, 43 ppm Cs.
• Exploration Focus: Targeting higher‑grade horizons within the confirmed claystone and conducting first‑pass metallurgical studies to assess recoverability.
• Future Plans: Summer 2026 follow‑on drilling program; integration of airborne hyperspectral, magnetic, VLF‑EM, tTEM, soil geochemistry, X‑ray diffraction datasets for target refinement.
• Permitting & Infrastructure: Two drill permits secured; 24 drill pads approved.
• Qualified Person: Dr. Richard C. Capps (Senior Geologist, Director) signed off under NI 43‑101.

Notable Quotes

“Now that the presence of the underlying claystone strata has been confirmed, and is shown to be mineralized, exploration will focus on identifying horizons within the claystone strata that may have higher concentrations of lithium, rubidium or cesium.” – Edward (Ted) Ellwood, President & CEO.