Mr. Brian Stecyk reports

PEDRO RESOURCES LTD. ANNOUNCES PROPOSED CHANGE OF BUSINESS

Pedro Resources Ltd. intends to pursue a change of business under Policy 8 -- Fundamental Changes and Changes of Business of the Canadian Securities Exchange (CSE).

The proposed change of business will involve a transition of the company from primarily a mineral exploration company to a biotechnology company focused on environmental clean earth solutions.

In July, 2023, the company signed a collaboration agreement with Fixed Earth Innovations Ltd., and additional collaboration agreements have been entered into with FCS Solutions Ltd., Oil-Out Ltd. and Dirty Dirt Services Ltd. (collectively, the collaboration agreements).

The intent of these agreements was to enable the company to provide environmental remediation and site restoration services to the resource sector. While this initiative was pending, it became apparent to management of the company that the opportunities to employ microbiology to a much wider range of environmental challenges was more in the company's interest and would ultimately be a greater benefit to shareholders.

The proposed primary business activity of the company would involve the use of microbes for the benefit of several worldwide environmental challenges faced by various markets and industry segments. Among these are: agriculture and food production; reforestation; land reclamation, remediation of properties contaminated by hydrocarbons; clean-up and restoration of sites contaminated by PERC (tetrachloroethylene, also known as perchloroethylene) chemicals (formerly solvents that were almost impossible to break down, such as dry-cleaning chemicals et cetera); PFAS (per- and polyfluoroalkyl substances) chemicals known as forever chemicals (impossible to breakdown, such as fire-fighting foams); as well as products, applications and solutions for a variety of consumer environmental issues.

The collaboration agreements bring a wealth of expertise and biotechnology capabilities to the company and significant positive use of microbes to resolve issues in multiple market areas has already been achieved. The reformed company will expand upon the work and successes already achieved with immediately marketable products and will continue to conduct research to expand its microbial portfolio.

In conjunction with the change of business, management intends to change Pedro's name to Onur Contaminant Solutions Inc. and will aim to expand its products to worldwide markets for microbe-based solutions under the brand name Onur Solutions.

"We are excited about this opportunity. Since we announced the collaboration agreements, we have been contacted by people throughout North America, Europe and the Middle East asking for information and help in addressing contaminant remediation challenges they are facing.

"A recent BBC article indicated that "the global societal costs -- including remediation -- of PFAS chemicals amounts to 16 trillion euros ($17-trillion/13.8 trillion pounds sterling) per year." ("Can we take the 'forever' out of forever chemicals?" BBC, Oct. 18, 2023).

"The potential market size is large on a domestic basis and even larger on a worldwide scale. Our goal is to take advantage of these opportunities for the benefit of a needing world and our shareholders," says Brian Stecyk, the company's chief executive officer.

A more comprehensive news release will be issued by the company disclosing details of the proposed change of business, each of the microbe-based biotechnological opportunities the company plans to pursue and management's expectations with respect to the proposed new business of the company. More detailed information will also be available on the company's website.

The proposed change of business and name change are subject to the receipt of all necessary approvals, including, without limitation, regulatory approval from the CSE. The collaboration agreements are subject to a number of conditions, including, but not limited to, CSE approval. There can be no assurance that the change of business will be completed as proposed or at all.

About Pedro Resources Ltd.

Pedro Resources is a Canadian exploration company listed on the CSE focused on mineral exploration and development.

We seek Safe Harbor.