Drill Mobilizing To Peloton's Golden Trail Project

ONTARIO - Peloton Minerals Corporation (PMC) reported that its drilling contractor is now mobilizing to the Company’s Golden Trail Project in Elko County, Nevada to complete a 2,400 foot reverse circulation drilling program consisting of about 12 drill holes. This program will target a series of coincident surface anomalies where geology, mineralogy, geochemistry and geophysics intersect to suggest these targets.

Golden Trail is a gold exploration prospect that has a Carlin-style alteration mineral assemblage associated with anomalous gold. The prospect is 100% owned by Peloton, comprises approximately 880 acres, and is located on the NE margin of the Long Canyon Gold Trend about 80 km northeast of Wells, Nevada and about 80 km north of the Long Canyon Newmont-Barrick joint venture.

A major gravity anomaly underlies Golden Trail, derived from a regional USGS survey and interpreted by the USGS to be a shallow pluton or magmatic intrusion. A more recent detailed Peloton gravity survey shows a change in gradient along the western boundary of the NW striking gravity anomaly and a series of coincident surface hydrothermal alteration anomalies have been identified through hyperspectral airborne and surface technology and geochemical sampling. These anomalies occur in the hanging wall of NW striking and NE dipping high-angle normal faults, are high in ammonia illite and alumina illite which are often associated with Carlin-style deposits, and geochemistry shows elevated pathfinder elements and gold mineralization.

Drill results are expected in the first quarter of 2021. The Company has also initiated the permitting process for its two other projects in Elko County, Nevada and hopes to have all three projects permitted for drilling by the spring of 2021. Further announcements will be made as the Company moves forward.