Mr. Donald MacDonald reports

Chris Pederson, a key ProAm Explorations Corp. geologist, has agreed to accept a debt settlement resulting in the issuance of 250,000 common shares of the company to Mr. Pederson at a deemed value of five cents per common share to extinguish a debt in the aggregate amount of $12,500 owing to Mr. Pederson.

The debt settlement is subject to the approval of the TSX Venture Exchange.