Mr. Edward Ellwood reports

PELOTON CLARIFIES CERTAIN ASSAY RESULTS

Peloton Minerals Corp. is issuing this clarification regarding certain assay results previously reported in its news release dated Jan. 28, 2026.

Following an internal review of the analytical data and disclosure, the company determined that the cesium assays reported in the release were made in error. The assays attributable to cesium were in fact the cerium assays. The cesium assays in fact range from one part per million to 70 ppm with an average of 16.7 ppm across all four drill holes.

This clarification relates solely to the inadvertent reversal of the cerium and cesium assays in the original disclosure. The rubidium and lithium values reported in the original release were transcribed and reported correctly, and remain unchanged.

The company has reviewed its disclosure procedures and will implement additional verification steps to ensure consistency between laboratory analytical reports and public disclosure.

Qualified person

Richard C. Capps, PhD, is the qualified person under National Instrument 43-101 that has approved the technical information contained within this release. Dr. 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 152,567,062 common shares issued and outstanding in the capital of the company.

Peloton's exploration portfolio includes 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, Mont.

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