Mr. Edward Ellwood reports

PELOTON RECEIVES AIRBORNE GEOPHYSICAL RESULTS PRIOR TO UPCOMING DRILLING PROGRAM AT THE NORTH ELKO LITHIUM PROJECT, NEVADA

Peloton Minerals Corp. has received the results from an airborne geophysical survey conducted earlier this year on the company's North Elko lithium project (NELP) located in northeastern Nevada. Receipt of these data will enable the company to incorporate the information into the selection of drill locations.

In summary, the airborne geophysical data shows north to northeast (NNE) high-angle faults and northwest (NW) through-going structures in the subsurface that are coincident with NW ridges with hectorite and other hydrothermal minerals at surface, as corroborated by mapping, airborne hyperspectral imaging, outcrop and soil chemistry, and extensive XRD mineralogy.

The airborne survey conducted was a high-resolution, fixed-wing geophysical survey recording horizontal magnetic gradient, radiometric (gamma ray), and VLF-EM including resistivity data over NELP and some surrounding areas. The survey covered the same area as an earlier airborne hyperspectral imaging survey, with 63 north-south traverse lines flown at 200-metre spacings and five east-west control lines at 2,000-metre intervals, together totalling 535.5 line kilometres.

Peloton president and chief executive officer Edward (Ted) Ellwood commented: "This survey is part of a systematic surface exploration program conducted over the past two field seasons at NELP. The data collected will be invaluable as the company moves toward the drilling phases of the project."

NELP is located immediately adjacent to a high-grade lithium deposit discovered in 2023 by Surge Battery Metals in northeastern Nevada. NELP is about 37 square kilometres (14.25 square miles) in size and is 100 per cent owned with no royalties outstanding. Peloton exploration work to date comprising an airborne hyperspectral survey, airborne magnetics, radiometric and VLF-EM surveys, geologic mapping, soil geochemistry over a 32-square-kilometre grid, prospecting, XRD analysis on over 1,000 surface samples and surface tTEM geophysics.

Peloton plans to begin drilling at NELP later this month and will make a further announcement about that program when drilling commences.

Richard C. Capps, PhD, is the qualified person under National Instrument 43-101 that has approved the technical information contained within this release. Mr. Capps is the company's senior geologist and a director.

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 148,744,813 common shares issued and outstanding in the capital of the company including the first tranche of the placement described above.

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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