Mr. Edward Ellwood reports

PELOTON MINERALS CORPORATION - PRIVATE PLACEMENT

Peloton Minerals Corp. has closed the first tranche of a private placement financing in the amount of $130,400.01 for this tranche, consisting of 1,448,889 units priced at nine cents per unit. Each unit consists of one common share and one common share purchase warrant, exercisable for three years at 12 cents. The company will pay fees equal to 8 per cent of the funds raised and issue 10 per cent of the units issued in the form of broker warrants, each exercisable into a unit of the offering at the offering price for 60 months. The proceeds of the private placement will be used for lithium exploration in northern Nevada and working capital.

Peloton Minerals is a reporting issuer in good standing in the provinces of British Columbia and Ontario, the common shares of which are listed on the Canadian Securities Exchange and trade in the United States on the OTCQB. There were 137,265,371 common shares issued and outstanding in the capital of the company before the closing of the placements described above.

Peloton's exploration portfolio includes the North Elko lithium project, Nevada, as well as a gold exploration project on the Carlin trend in Nevada, and a non-controlling interest in a copper porphyry project near Butte in Montana.

We seek Safe Harbor.