Mr. Edward Ellwood reports

PELOTON STAKES ADDITIONAL CLAIMS & COMPLETES SURFACE GEOPHYSICAL DATA COLLECTION NORTH ELKO LITHIUM PROJECT, NEVADA

Peloton Minerals Corp. has staked and filed for recording an additional 90 mineral claims at its 100-per-cent-owned North Elko lithium project (NELP), located in northeastern Nevada and immediately adjacent to property owned by Surge Battery Metals Inc., which has discovered a significant lithium deposit beside NELP. The surface data collection portion of a tTEM (towed, ground-based transient electromagnetic) geophysical survey was also completed in December, 2024.

The new claims are primarily located under the southwestern portion of the NELP claim block and were staked following completion of extensive surface exploration work in 2024, which included a property-wide soil geochemistry survey, detailed geologic mapping and X-ray diffraction analysis of over 400 samples that determined NELP was situated in a paleolake (historic lake) environment similar to neighbouring Surge. The new claims are tied onto Peloton's southwestern claim boundary and also to claims registered to Grid Battery Metals Inc. to the west. Additionally, Peloton has discontinued certain claims that were no longer considered prospective, bringing the company's current total to 442 claims or approximately 37 square kilometres.

The surface data collection portion for a tTEM geophysical survey was completed by BGC Engineering, of Calgary, Alta., an international consulting firm that provides professional services in applied earth sciences. Data were collected over 37 line kilometres and the data are now being processed for interpretation. The tTEM geophysical technique was used successfully by neighbouring Surge to help map the depth and width of potential underlying lithium-bearing clay layers.

Upon receipt of the geophysical report expected in February, the company will finalize priority drilling targets and complete any drill permit amendments or applications necessary for an optimum maiden drilling program in 2025.

Edward (Ted) Ellwood, president and chief executive officer, commented: "Completing the geophysics successfully before the snow came was essential in enabling proper planning of the 2025 drilling program. We look forward to reviewing the interpretations after processing and gaining further insight into the underlying potential of the property."

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

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 (symbol PMC) and trade in the United States on the OTCQB (symbol PMCCF). There are 138,714,260 common shares issued and outstanding in the capital of the company.

Peloton's exploration portfolio includes the North Elko lithium project, 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.

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