Mr. Al Shefsky reports

PELE MOUNTAIN SHAREHOLDERS APPROVE ALL MATTERS PRESENTED AT THE ANNUAL AND SPECIAL MEETING OF THE SHAREHOLDERS

Pele Mountain Resources Inc. shareholders approved all matters voted on at the company's annual and special meeting of shareholders held on March 7, 2013, being, namely:

1. Election of management's proposed slate of directors of the company;
2. Reappointment of Collins Barrow LLP as the auditors of the company to hold such office until the close of the next annual meeting of shareholders;
3. Approving the company's stock option plan, reserving for grant options to acquire up to a maximum of 10 per cent of the issued and outstanding shares of the company calculated at the time of each stock option grant;
4. Ratifying and adopting bylaw No. 1B, which requires advance notice to the company of nominations of directors in circumstances where such nominations are made by shareholders other than pursuant to a requisition of a meeting or a shareholder proposal pursuant to the provisions of the Business Corporations Act (Ontario);
5. Ratifying and adopting the amended and restated shareholder rights plan agreement between the company and Equity Transfer & Trust Company, which extends the plan for a further three years.

More specific details of the matters approved at the meeting are set forth in a management information circular of the company dated Jan. 31, 2013, and posted on SEDAR.