Peloton Minerals Corporation is advancing its North Elko Lithium Project having recently completed, this month, a field sampling program. The sampling program targeted outcrop areas of particular clays known to host high-grade lithium on two neighboring projects. The clay outcrops were identified using Company hyperspectral data over an area of 100 square kilometers.

The results of this data analysis prompted Peloton to increase its property in the area fourfold to 408 mining claims covering 8,160 acres (3,300 hectares). Next steps for First Quarter 2024, assuming encouraging results from the sampling program, are to begin shallow drilling of the sampled areas to explore the clay layers at depth, and to submit for assay its historic geochemistry pulps to determine the level of lithium in soil. The company is very pleased with the number high-grade lithium-in-clay discoveries made by its immediate neighbors in 2023 and will continue devoting company resources to explore for lithium on its North Elko Lithium project in 2024.