Recording Filed For An Additional 90 Mineral Claims At North Elko Lithium Project

LONDON - Peloton Minerals Corporation has staked and filed for recording an additional 90 mineral claims at its North Elko Lithium Project (NELP) located in north-eastern Nevada. The surface data collection portion of a tTEM geophysical survey was also completed in December 2024.

The new claims are primarily located under the south-west (SW) 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.

Peloton has discontinued certain claims that were no longer considered prospective, bringing the Company’s current total to 442 claims or approximately 37 square kilometers.

The surface data collection portion for a tTEM geophysical survey was completed. Data was collected over 37 line-kilometers and the data is now being processed for interpretation. 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.