London, Ontario – TheNewswire - May 4, 2021 – Peloton Minerals Corporation (“PMC” or the “Company”) (CSE:PMC) (CNSX:PMC.CN) (OTC:PMCCF) has closed a private placement totaling CDN$200,100 (the “Private Placement”) and consisting of 2,668,000 units priced at CDN$0.075 per unit. Each unit consists of one common share and one common share purchase warrant exercisable for three years at $0.125.

The Private Placement was subject to a finder’s fee payable to an arms length party. The finder’s fee consisted of $16,008 in cash and 213,440 brokers warrants with each broker warrant exercisable at $0.075 within three years to purchase additional private placement units consisting of one common share and one common share purchase warrant exercisable for three years at $0.125.   Proceeds of the financing will be used to advance gold exploration in Nevada and working capital.

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 in the Provinces of British Columbia and Ontario whose common shares are listed on the CSE (Symbol: PMC) and trade in the U.S. on the OTC QB (Symbol: PMCCF). There are 104,086,641 common shares issued and outstanding in the capital of the Company.

Peloton owns three gold exploration projects located in Elko County, Nevada, and one gold exploration project in Montana, USA which is now under option to Frederick Private Equity Corporation and African Metals Corporation.

CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.