Drilling Permits Approved for the North Elko Lithium Project, Nevada

Peloton Minerals Corporation (PMC; PMCCF) has received approval from the US Bureau of Land Management (BLM) for two drilling permits within the North Elko Lithium Project (NELP) in northeastern Nevada.

A total of 24 drill pads are approved under the permits, with the possibility of adding more subject to BLM approval. One permit covers the eastern part of NELP, and the other covers the central and western portions. Each permit is limited to a maximum disturbance area of 5 acres (10 acres total).

Surge Battery Metals announced a significant lithium discovery adjacent to Peloton's NELP mineral claims in early 2023, reporting an inferred resource of 11.24 million tonnes of Lithium Carbonate Equivalent at 3,010 ppm Li.

NELP is now at the drilling stage after Peloton's surface exploration work, including hyperspectral imaging, soil geochemistry survey, geologic mapping, and X-Ray Diffraction analysis.

Peloton plans to drill from each of the 24 drill pads this summer, covering the 14 square mile property.

Peloton's exploration portfolio includes a 100% interest in the North Elko Lithium Project, as well as the Golden Trail and Independence Valley gold projects, and a non-controlling interest in a copper porphyry project.