Mr. Edward Ellwood reports

PELOTON HAS REGISTERED 200 ADDITIONAL CLAIMS TO COVER A LARGE UNDERLYING CLAY LAYER SHOWN TO BE MINERALIZED BY RECENT DRILLING

Peloton Minerals Corp. has registered an additional 200 mineral claims recently staked at its 100-per-cent-owned North Elko lithium project located in northeastern Nevada, bringing the total to 642 mineral claims, or 53 square kilometres (20 square miles).

The claim block was expanded to cover the expected extent of a large underlying stratigraphy that the company identified through surface geophysics and that is confirmed to be clay bearing (claystone) from four widely spaced initial drill holes that were completed late last year. Based on extensive surface exploration and geophysics, the underlying claystone strata covers an area of at least 50 square kilometres (19 square miles). The thickness of the claystone strata within the paleolake basin is a minimum of 480 feet in three of the holes as recent drilling encountered claystone from within 20 feet of surface to a vertical depth of 500 feet and to 110 feet in one 325-foot hole, which intercepted basement. These holes were widely spaced at about seven kilometres by 3.5 kilometres apart.

Mineralization within the four drill holes included anomalous lithium, rubidium and cesium values. The southernmost hole intersected values that were increasing at depth, with the bottom 155 feet of the hole averaging 618 parts per million lithium, 160 ppm rubidium and 28 ppm cesium. The last sample at the bottom of that hole returned 1,150 ppm lithium, 178 ppm rubidium and 43 ppm cesium.

Now that the presence of the underlying claystone strata has been confirmed and is shown to be mineralized, exploration will focus on identifying horizons within the claystone strata that may have higher concentrations of lithium, rubidium or cesium. Peloton will conduct a series of studies using or combining the numerous data sets that the company has obtained from airborne, surface and subsurface work, to refine targets for a follow-on drilling program this summer. This work will also include first-pass metallurgical work to determine the potential recoverability of minerals identified and potential paths to extraction.

NELP exploration work completed to date:

• Airborne hyperspectral imaging;
• Survey staking –- currently 642 claims, 53 square kilometres or 20 square miles;
• Geologic mapping;
• Prospecting;
• Grid-level soil geochemistry –- 200-metre spacings over north half of current claim block;
• Grid-level X-ray diffraction analysis –- 1,000-plus samples analyzed;
• Airborne geophysics –- magnetics, radio-metrix, very low frequency-electromagentics;
• Surface geophysics -- tTEM over 37 line km;
• Permitting –- two drill permits in place with 24 drill pads currently approved;
• Drilling -– four drill holes completed –- one to 325 feet and three to 500 feet.

Qualified person

Dr. Richard C. Capps, PhD, is the qualified person under National Instrument 43-101 who 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, and 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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