(TheNewswire)
July 15, 2024 – TheNewswire - London, Ontario – Peloton MineralsCorporation (“Peloton” or the “Company”) (CSE Symbol: PMC; OTCQB Symbol:PMCCF) reports that it has staked an additional 27 mineralclaims at its 100% owned North Elko Lithium Project (“NELP”) innortheastern Nevada, bringing the total ground position to 444 mineralclaims or about 37 square kilometers.
The new claims cover additional areas of prospective lithium interestto the east following analysis of hyperspectral data and groundfollow-up work. The new claims are on the eastern boundary of the NELPclaim block, which is the farthest boundary from Surge Battery Metalswho tie onto the western boundary of NELP and who have discovered asignificant lithium deposit beside Peloton’s NELP to the west. A mapaccompanies this release showing an outline of Peloton’s currentclaim position.
Peloton is presently conducting a multi-faceted exploration program atNELP including geochemical sampling across a 35 square kilometer grid,geological mapping, spectrometer prospecting and sampling, XRDminerology analysis, airborne geophysics, the additional staking,shallow packsack drilling, and permitting for deeper drilling. Theexploration program will continue through the summer and into thefall.
Peloton President and CEO Edward (Ted) Ellwood commented , “We are pleased with the earlyprogress of the exploration program as well as the initial datareceived. We expect many important milestones to be achieved over thecourse of the summer and fall.”
For further information please contact:
Edward (Ted) Ellwood, MBA
President & CEO 1-519-697-2313
Richard C. Capps, PhD, is the qualified personresponsible for approving the technical information contained withinthis release.
Peloton Minerals Corporation is a reporting issuer in good standing inthe Provinces of British Columbia and Ontario whose common shares arelisted on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF) . There are 136,598,705 commonshares issued and outstanding in the capital of the Company.
Peloton’s exploration portfolio includes the NorthElko Lithium Project, as well as a gold exploration project on theCarlin Trend, Nevada, a past producing gold project in Montana underoption to a JV partner, and a non-controlling interest in a copperporphyry project near Butte, Montana.
Current Peloton GroundPosition
North Elko Lithium Project
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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