Peloton Stakes 200 Additional Claims at the North Elko Lithium Project Bringing the Total Ground Position to 53 Square Kilometers or 20 Square Miles

(TheNewswire)

February 3, 2026 – TheNewswire - London, Ontario – Peloton MineralsCorporation (“Peloton” or the “Company”) (CSE Symbol: PMC; OTCQB Symbol:PMCCF) has staked and is filing for recording anadditional 200 mineral claims at its 100% owned North Elko LithiumProject (“NELP”) located in north-eastern Nevada, bringing thetotal to 642 mineral claims, or 53 square kilometers (20 squaremiles).

The new claims are across and contiguous with theformer southern boundary of NELP and completely cover Bell Canyon andBell Canyon Road. Peloton’s recent drilling included one hole besidethe western portion of Bell Canyon Road (refer to Map 2). That holeintersected lithium values that were increasing at depth, with thebottom 155 feet of the hole averaging 618 ppm, and last sample at thebottom of the hole returning 1150 ppm lithium. The hole bottomed inclaystone mineralization and will be drilled deeper on the next drillprogram.

Peloton selected the Bell Canyon drill location as itis on strike from the NW oriented lithium zone that Surge BatteryMetals Inc. (“Surge”) has discovered on its adjacent property,tTEM geophysics, and a drill log obtained from public State recordsfor a water well hole drilled in 1965 that showed a sequence of claylayers that were similar to what Surge has publicly reported fromtheir drilling.

Map 1 accompanying this release shows the new claimposition. Map 2 accompanying this release shows the roads traversingNELP that Peloton has surveyed with tTEM geophysics, including BellCanyon Road, and the location of the four holes drilled todate.

Peloton will now conduct a series of studies using orcombining the numerous datasets that the company has obtained fromairborne, surface and subsurface work, to refine drill targets for afollow-on program this summer. This work will also include first passmetallurgical work to determine the potential recoverability of cesiumand rubidium that was encountered in initial drilling. Cesium andrubidium assays were remarkably consistent in all four drill holesfrom top to bottom of the holes which were widely spaced (7 kilometersby 3.5 kilometers – refer to Map 2). The average of all 352 drillsamples was 77 ppm cesium and 121 ppm rubidium. Information aboutthese elements is available at USGS Mineral CommoditySummaries 2025.

Upon finalizing the type and scope of the work andstudies to be completed this winter the company will issue a moredetailed outline. This work is in preparation for a follow-on drillprogram this summer.

For further information, please visit the Company’swebsite at Pelotonminerals.com orcontact:

Edward (Ted) Ellwood, MBA

President & CEO       1-519-697-2313

Qualified person

Richard C. Capps, PhD, is the qualified person under NI43-101 that has approved the technical information contained withinthis release. Dr. Capps is the Company’s Senior Geologist and aDirector.

About Peloton MineralsCorporation

Peloton Minerals Corporation is a reporting issuer ingood standing in the Provinces of British Columbia and Ontario whosecommon shares are listed on the CSE (Symbol: PMC) and trade in theU.S. on the OTC QB (Symbol: PMCCF). There are 152,567,062 common shares issued and outstandingin the capital of the Company.

Peloton’s exploration portfolio includes the NorthElko Lithium Project in northeastern Nevada which is prospective forlithium, uranium, critical and rare earth minerals, as well the GoldenTrail and Independence Valley Carlin style gold projects innortheastern Nevada, and a non-controlling interest in a copperporphyry project near Butte, Montana

Map 1 - Current Peloton GroundPosition

(red outline is new claims)

Click Image To View Full Size

Map 2 – Current Peloton GroundPosition,

tTEM Surveyed Roads & DrillHoles

(blue lines are roads – drill hole locations arenumbered)

Click Image To View Full Size

CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release.

This news releasecontains "forward-looking information" (within the meaningof applicable Canadian securities laws) and "forward-lookingstatements" (within the meaning of the U.S. Private SecuritiesLitigation Reform Act of 1995). Such statements or information areidentified with words such as "anticipate","believe", "estimate”, "expect",“foresee”, "intend", “looking”, “plan”,"potential", "propose", "project",”suggests”, "outlook" or similar words suggesting futureoutcomes or statements regarding an outlook.  

Such statementsinclude, among others, those concerning the Company’s plansfor exploration activity and to conduct future explorationprograms. Such forward-looking information or statements are based on a numberof risks, uncertainties, and assumptions which may cause actualresults or other expectations to differ materially from thoseanticipated and which may prove to be incorrect. Assumptions have beenmade regarding, among other things, management's expectationsregarding its ability to initiate and complete future exploration workas expected. Actual results could differ materially due to a number offactors, including, without limitation, operational risks in thecompletion of the Company’s future exploration work; technical,safety or regulatory issues; availability of capital;changes in general economicconditions and financial markets; the imposition of governmentrestrictions on business which may ultimately affect and delay theexploration timeline; and changes in prices for metals that theCompany is exploring for.  

Although the Companybelieves that the expectations reflected in the forward-lookinginformation or statements are reasonable, prospective investors in theCompany’s securities should not place undue reliance onforward-looking statements because the Company can provide noassurance that such expectations will prove to be correct.Forward-looking information and statements contained in this newsrelease are as of the date of this news release and the Companyassumes no obligation to update or revise this forward-lookinginformation and statements except as required by law.

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