Peloton Minerals stakes Independence Valley project

Aug 16, 2016

PELOTON ACQUIRES INDEPENDENCE VALLEY PROJECT, ELKO COUNTY, NEVADA

Peloton Minerals Corp. has acquired a 38-mineral-claim package comprising 785 acres and located in Elko county, Nevada, about 77 miles south of the company’s Golden Trail project and about 29 miles south of Newmont’s Long Canyon project.

The mineral claim package was acquired by staking and has been named the Independence Valley project. Peloton previously held claims in this area during the mid-2000s and completed considerable surface exploration work before running into financial difficulty under former management. Given recent exploration successes by various companies in northeastern Nevada, the company recently reviewed data held on the area and decided to stake this project. The company believes it holds sufficient data to commission a National Instrument 43-101 report and this report has been initiated.

The Independence Valley project is within the Spruce Mountain mining district, which contains many historic base and precious metals mines and has been mined since the 1840s. Rhyolite and granitic intrusive rocks are found in almost all of these mines and intrude the mineralized structures at the same time as mineralization or just afterward.

The rhyolites could be considered the smoking gun for mineralization within the Spruce Mountain mining district and the Independence Valley project is centred on the largest untested rhyolite dome complex in the district.

The rhyolite dome on the Independence Valley project was determined by geologic mapping by Peloton under predecessor management, with U.S. Geological Survey maps having previously shown the area as limestone. In addition to the NI 43-101 report commissioned, the company plans a detailed geologic mapping program at Independence Valley this fall. Ionic leach soil geochemistry and surface geophysics are also planned and will be announced as initiated. The purpose of these programs is to identify drill targets, with a focus along the same structure (fault) which contains the rhyolite feeder (intrusive).

Dr. Richard C. Capps, PhD, is the qualified person responsible for approving the technical information contained within this release.

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