Ms. Keturah Nathe reports

ANQUIRO VENTURES PROVIDES UPDATE WITH RESPECT TO POTENTIAL QUALIFYING TRANSACTION WITH BLACK PINE RESOURCES AND FILES AMENDMENT TO FORM OF PROXY

Further to the company's press release dated Feb. 24, 2023, Anquiro Ventures Ltd. and Black Pine Resources Corp., a corporation incorporated under the laws of the Province of British Columbia, continue to work diligently toward completion of the proposed transaction between the company and Black Pine, which would, if completed, result in the reverse takeover of the company by Black Pine and constitute the company's qualifying transaction (as such term is defined in Policy 2.4, Capital Pool Companies, of the TSX Venture Exchange) and presently expect to enter into a definitive agreement in respect of the proposed transaction by the new mutually agreed deadline of May 31, 2023 (see news release Feb. 24, 2023). Certain other timelines relating to the proposed transaction and the concurrent financings proposed to be completed in connection with the proposed transaction have been extended as well.

There can be no assurance that the Proposed Transaction will be completed on the terms proposed or at all.

Information regarding Black Pine can be viewed on its website at www.blackpineresources.com.

Amendment to Annual General Meeting Form of Proxy

The Company that has filed amendment (the "Amendment") to its form of proxy (the "Proxy") with respect to its annual general meeting of shareholders which is scheduled to be held on May 24, 2023 (the "Meeting"), in order to correct the error in the list of directors that are set for re-election. In the section of the Proxy entitled Election of Directors, Teresa Cherry who is the CFO of the Company, was stated as one of the director nominees proposed for election when the correct person stated as a nominee(the "Nominee") should have been Huitt Tracey, who has been a director of the Company since 2017. The Company has distributed to its registered shareholders a revised Proxy for the Meeting correcting this error. Unless authority to do so is withheld by the shareholder delivering the revised form of proxy, the person named in the Proxy intend to vote FOR the election of Mr. Tracey as a director. In addition, in the event that any shareholder delivers the original Proxy for the Meeting which contained this error, the person named in the Proxy intend to vote FOR the election of Ms. Cherry as a director, unless authority to do so is withheld by the shareholder delivering the Proxy, on the basis of the discretionary authority conferred under the proxy upon the persons named in the proxy with respect to amendments to matters identified in the Notice of Annual Meeting of Shareholders for the Meeting or other matters that may properly come before the Meeting.

Anquiro Ventures Ltd.

The Company was incorporated under the Business Corporations Act (British Columbia) on March 1, 2012, and is a Capital Pool Company (as such term is defined in Policy 2.4) listed on the Exchange. The Company has no commercial operations and no assets other than cash.

Further Information

The Company plans to issue additional press releases, including a comprehensive news release in accordance with the policies of the Exchange, providing further details in respect of the Proposed Transaction, the Definitive Agreement, including its date, a description of the proposed Significant Assets (as such terms are defined in Policy 2.4), the officers, directors, Insiders and Principals (as such term is defined in Policy 2.4) of the resulting issuer from the Proposed Transaction, whether shareholder approval is required in connection with the Proposed Transaction, and other material information as it becomes available.

Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to the Exchange acceptance and, if applicable pursuant to the Exchange requirements, majority of the minority shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Proposed Transaction, any information released or received with respect to the Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

We seek Safe Harbor.