Additional Claims Registered At NELP

ONTARIO – Peloton Minerals Corporation has registered an additional 200 mineral claims recently staked at its North Elko Lithium Project (NELP) located in north-eastern Nevada, bringing the total to 642 mineral claims, or 53 square kilometers (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 now confirmed to be clay bearing, from four (4) 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 kilometers (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 7 kilometers by 3.5 kilometers apart.