Core Insights - Peloton Minerals Corporation has successfully completed its maiden drilling program at the North Elko Lithium Project (NELP) in northeastern Nevada, confirming the presence of clay layers and achieving all program objectives [1][2][4] Drilling Program Details - The drilling program consisted of four holes totaling 1,825 feet, confirming clay layers to a vertical depth of at least 500 feet and across a widespread area with drill spacing of 7 by 3.5 kilometers [2][3] - Three holes reached a depth of 500 feet in clay-bearing material, while one hole was stopped at 325 feet after hitting basement rocks [3] Sample Analysis - Samples from the drill holes will undergo multi-element assay analysis to determine lithium presence and other critical minerals, with results expected by the end of January 2026 [4] - X-Ray Diffraction (XRD) analysis will also be conducted to understand mineralogy and check for zeolite minerals [4] Project Location and Size - NELP is located adjacent to a high-grade lithium deposit discovered in 2023 by Surge Battery Metals and covers an area of approximately 37 square kilometers (14.25 square miles) [5] Future Exploration Plans - Peloton holds two drilling permits for NELP and has 24 drill pad locations permitted for follow-on programs, with potential for more pads as exploration continues [6]

Core Viewpoint - Peloton Minerals Corporation has initiated its maiden drilling program at the North Elko Lithium Project in northeastern Nevada, targeting lithium-bearing claystone layers and other critical minerals [1][2]. Group 1: Drilling Program Details - The drilling program will consist of four widely spaced holes, each reaching a depth of approximately 500 feet, to assess the orientation, stratigraphy, and potential mineralization within the clay layers [3]. - The drill holes will be spaced about 7 kilometers (4.3 miles) apart on the NE-SW axis and about 3.5 kilometers (2 miles) apart on the NW-SE axis, with drilling expected to take around three weeks and assays to follow in about six weeks [3]. Group 2: Project Background and Exploration Work - The North Elko Lithium Project spans approximately 37 square kilometers (14.25 square miles) and is fully owned by the company, with no outstanding royalties [5]. - Prior exploration activities included an airborne hyperspectral survey, airborne magnetics, radiometric and VLF-EM surveys, geological mapping, soil geochemistry over a 32 square kilometer grid, prospecting, and XRD analysis on over 1,000 surface samples [5]. Group 3: Regulatory and Operational Aspects - The company holds two drilling permits for the property and has 24 drill pad locations permitted for future programs, all strategically located beside existing roads to minimize environmental impact [4]. - The project is located adjacent to a high-grade lithium deposit discovered in 2023 by Surge Battery Metals, indicating potential for significant mineral resources in the area [5].

Core Points - Peloton Minerals Corporation has successfully closed the second tranche of a non-brokered private placement financing, raising a total of $1,036,252.53, which is oversubscribed from the originally planned $630,000 [1][3] - The financing was priced at CDN$0.09 per unit, with each unit consisting of one common share and one common share purchase warrant exercisable for three years at $0.12 [1] - Proceeds from the private placement will be allocated for lithium exploration in northern Nevada and for working capital [1] Financing Details - The second tranche of the private placement raised $133,502.76 [1] - The private placement utilized certain prospectus exemptions, including the Existing Shareholder Exemption, allowing capital to be raised from existing shareholders [3] - The securities issued are subject to a hold period expiring four months and one day from the issuance date [4] Exploration Plans - Peloton will commence drilling at the North Elko Lithium Project (NELP) in northeastern Nevada this month [2] - Further announcements regarding the drilling program will be made after drilling begins [2] Company Overview - Peloton holds a 100% interest in the North Elko Lithium Project, which is prospective for lithium, uranium, and critical and rare earth minerals [6] - The company also has interests in gold projects and a non-controlling interest in a copper porphyry project near Butte, Montana [6] - Peloton is a reporting issuer in good standing in British Columbia and Ontario, with common shares listed on the CSE and trading on the OTC QB [5]