Mr. Edward Ellwood reports

PELOTON REACHES AGREEMENT TO CANCEL $US600,000 CASH PAYMENTS RELATED TO THE BOULDER COPPER PROPERTY, MONTANA; KEEPS A SIGNIFICANT INTEREST IN THE COMPANY HOLDING BOULDER; WILL FOCUS ON 100% OWNED LITHIUM PROSPECTS IN NEVADA

Peloton Minerals Corp. and Celerity Mineral Corp. have reached an agreement with the original vendors of the Boulder copper porphyry property, Montana, to cancel the requirement for cash payments to be made over three years totalling $600,000 (U.S.), which was part of the original acquisition terms. The Boulder porphyry is held 100 per cent by Celerity and as part of this agreement, Peloton's interest in Celerity will be about 18 per cent with no further cash payments or other obligations to be made.

Over the past year, Celerity has made substantial progress in building its exploration team, completing an extensive GIS compilation of historical data, compiling geophysical data and drafting a National Instrument 43-101 technical report. As a significant Celerity shareholder, Peloton looks forward to Celerity's exploration of the Boulder porphyry and the tremendous potential that it offers.

The company plans to focus on the lithium exploration at its Texas Canyon and Golden Trail properties in Nevada, where potential lithium-bearing hectorite and illite clays have been identified in outcrop over an extensive area at Texas Canyon as well as at Golden Trail property located about six kilometres (3.7 miles) to the east.

The company is planning an immediate ground truthing program on the Nevada properties using a handheld spectrometer, detailed mapping and sampling of the hectorite and illite clays. Follow-on ground geochemistry, geophysics and drilling are also being planned.

Richard C. Capps, PhD, is the qualified person responsible for approving the technical information contained within this release.

About Peloton Minerals Corp.

Peloton is a reporting issuer in good standing in the provinces of Ontario and British Columbia 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 123,099,458 common shares issued and outstanding in the capital of the company.

Peloton's exploration portfolio includes three exploration projects in Elko county, Nevada (lithium, uranium, molybdenum, gold), as well as a past-producing gold project in Montana under option to a joint venture partner, and a non-controlling interest in a copper porphyry project near Butte, Mon.

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