Mr. Edward Ellwood reports

CRITICAL & RARE-EARTH ELEMENT MINERALS HAVE BEEN IDENTIFIED AT SURFACE ON THE NORTH ELKO LITHIUM PROJECT, NEVADA

In addition to lithium-bearing minerals (21 lithium-bearing species -- 19 magmatic and two clays), X-ray diffraction (XRD) analyses have shown the presence of additional critical and rare-earth minerals at surface on Peloton Minerals Corp.'s 100-per-cent-owned North Elko lithium project (NELP) in northeastern Nevada.

XRD analysis has been completed on a total of 1,046 samples taken across the surface of the 37-square-kilometre property including samples from soils and outcrops.

Notable critical element bearing minerals identified include: pollucite, petalite and lepidolite. These are cesium-, rubidium- or lithium-bearing minerals.

Rare-earth minerals identified include: polycrase, thomasclarkite and fergusonite.

The plotting of this data is continuing; however, on a preliminary basis these minerals are well distributed across the entire property hosted by highly fractioned rhyolite tuffs, as defined by their mineralogy (54 minerals associated with alkaline magmas), which are interbedded with zeolite-rich lacustrine sediments in an alkali paleolake (ancient lake) environment.

Surge Battery Metals (Surge) claims are located immediately adjacent to Peloton and Surge has recently reported that cesium (Cs) and rubidium (Rb) had been identified within the deeper clay layers that Surge has drilled and that these critical minerals seem directly related to the high-grade lithium claystone zones. Surge reported an average of 303 ppm (parts per million) Rb and 124 ppm Cs in eight holes reassayed for these metals so far.

Lithium in shallow claystone beds is the primary target at NELP, with the surface dimension of the NELP claystone outcrops estimated at some 35 square kilometres based on geophysical surveys and extensive surface mapping and sampling work. Peloton believes that the two properties (Surge and NELP) are situated in either the same paleolake environment or a very similar one. Peloton geologic mapping suggests that sampling at NELP to date is from bedded rocks higher in the stratigraphy.

Peloton is permitted for 24 drill pads on NELP and is planning a maiden drill program for this year.

Edward (Ted) Ellwood, president and chief executive officer, commented, "This project has now become a multielement exploration project with the potential for not only discovery of lithium, but also critical and rare-earth minerals."

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

About Peloton Minerals Corp.

Peloton Minerals is a reporting issuer in good standing in the provinces of British Columbia and Ontario 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 138,714,260 common shares issued and outstanding in the capital of the company.

Peloton's exploration portfolio includes a 100-per-cent interest in the North Elko lithium project in northeastern Nevada which is prospective for lithium, uranium, critical and rare-earth minerals, as well the Golden Trail and Independence Valley Carlin style gold projects in northeastern Nevada, and a non-controlling interest in a copper porphyry project near Butte, Mon.

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