Notice of Private Placement Grant of Stock Options and Share Appreciation Rights Units

(TheNewswire)

November 21, 2025 – TheNewswire - London, Ontario – Peloton MineralsCorporation (“PMC” or the “Company”) (CSE Symbol: PMC; OTCQB Symbol:PMCCF) provides notice of pending private placement, the grantor renewal of expired stock options, and the grant of ShareAppreciation Rights.

The Company intends to close a private placement of units priced atCDN$0.09 per unit for total proceeds of up to $200,000 over the nextfew weeks. Each unit consists of one common share and one common sharepurchase warrant exercisable for three years at $0.12.

The proceeds of the Private Placement will be used for lithium exploration in northern Nevada and workingcapital. The Private Placement will be conducted inreliance upon certain prospectus exemptions,including the exemption allowing issuers to raise capital bydistributing securities to existing shareholders(the “Existing Shareholder Exemption”) contained in OSC Rule 45-501 (2.9) and the various corresponding blanket orders and rules of participatingjurisdictions (with the exception of Newfoundland and Labrador) as well as other available prospectus exemptions,including sales to accredited investors and close personal friends and business associates of directors andofficers of the Company. The Company has set November 21, 2025, as therecord date for the purpose of determining existingshareholders entitled to purchase Sharespursuant to the Existing Shareholder Exemption. The securities issuedin connection with the Private Placement are subject to a hold periodexpiring four months and one day from the issuance of thesecurities.

The Company has granted a total of 883,332 stock options toconsultants exercisable at $0.11 for three years. Of these options,150,000 replaces stock options that had recently expired.

The Company has granted a total of 11,240,531 Share AppreciationRights Units (“SAR”) to directors and officers of the Company.SARs were adopted and approved by shareholders in 2024 as a means ofcompensation. Each SAR is exercisable at $0.11 per share (the BssePrice) for five years and upon exercise, as determined by the holder,entitle the holder to receive the difference in price between themarket price at the date of exercise and the Base Price, either incash or shares at the determination of the Company.  The SARs vestone year from today which may be accelerated for aParticipant who dies or who ceases to be an eligible Participant underthe provisions hereof in connection with a Change of Control,take-over bid, reverse take-over or other similar transaction.

For further information please contact:

Edward (Ted) Ellwood, MBA

President & CEO 1-519-964-2836

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 150,228,177 commonshares issued and outstanding in the capital of the Company before theclosing of the placement described above.

Peloton’s exploration portfolio includes a 100%interest in the North Elko Lithium Project in northeastern Nevadawhich is prospective for lithium, uranium, critical and rare earthminerals, as well the Golden Trail and Independence Valley Carlinstyle gold projects in northeastern Nevada, and a non-controllinginterest in a copper porphyry project near Butte, Montana .

CSE has notreviewed and does not accept responsibility for the adequacy oraccuracy of this release.

This news release contains"forward-looking information" (within the meaning ofapplicable 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", "expect", "plan","intend", "potential", "estimate","propose", "project", "outlook","foresee" or similar words suggesting future outcomes orstatements regarding an outlook.

Although the Company believes thatthe expectations reflected in the forward-looking information orstatements are reasonable, prospective investors in the Company’ssecurities should not place undue reliance on forward-lookingstatements because the Company can provide no assurance that suchexpectations will prove to be correct. Forward-looking information andstatements contained in this news release are as of the date of thisnews release and the Company assumes no obligation to update or revisethis forward-looking information and statements except as required bylaw.

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