Ms. Jacqueline Wilkie reports

PEDRO RESOURCES LTD. ANNOUNCES APPOINTMENT OF CHIEF FINANCIAL OFFICER AND PROVIDES CORPORATE UPDATE

Pedro Resources Ltd. has appointed Deborah Mercier as chief financial officer of the company.

Ms. Mercier has been in the accounting industry for approximately 45 years. In the past 20 years, she has owned and operated multiple businesses in the United States and the Edmonton area. She specializes in assisting companies as they navigate complex circumstances.

The board of directors would like to thank Jacqueline Wilkie, who acted as interim chief financial officer during this transition period. Ms. Wilkie will continue with the company in her roles as chief executive officer, interim corporate secretary and director.

The company is also pleased to announce the engagement of Patrick Cossette as a consultant to provide financial strategy and planning advice to the company. Mr. Cossette is a seasoned finance and accounting professional with over 17 years of experience supporting growth and strategic company objectives across domestic and international locations while seamlessly directing all accounting functions.

Corporate update

The company is pleased to provide an update on its operations and its proposed change of business announced on Nov. 3, 2023.

Pursuing the change of business has been a lengthy process that has been delayed, among others, by complexities surrounding the departure of the company's former chief financial officer in 2024, which contributed to the company's difficulties in meeting listing requirements for the change of business within the expected time frame.

While these factors have resulted in delays, the company continues to address all the regulatory requirements necessary to move forward. Management has been diligently focused and is actively working to meet the Canadian Securities Exchange's requests to expedite the approval process, which includes securing financial resources in an amount sufficient to undertake the company's proposed new business following the change of business.

Pedro appreciates the patience and support of its stakeholders as it continues to work toward achieving this significant milestone. Further updates will be provided as material developments occur.

Annual and special meeting

The company is also pleased to report that all matters presented for approval at the company's annual and special meeting of shareholders held on Jan. 20, 2025, were duly authorized and approved, including the company's long-term incentive plan and the proposed continuance of the company from British Columbia to Ontario, which will take place in due course.

The change of business

Following completion of the change of business, the company intends to redeploy its assets and resources from the mining business toward the development of biotechnologies for the remediation and reclamation of contaminated soils. The company intends to change its name to MiGlobe Biosciences Inc. concurrently with the change of business.

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.

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 environmental challenges faced by various markets and industry segments. Among these are agriculture and food production; reforestation; land reclamation and remediation of properties contaminated by hydrocarbons; cleanup and restoration of sites contaminated by PERC chemicals (formerly solvents that were almost impossible to break down such as dry cleaning chemicals); and PFAS chemicals known as forever chemicals (impossible to breakdown such as firefighting foams), as well as products, applications and solutions for a variety of consumer environmental issues.

The company's partners remain committed to supporting and working with the company. 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.

For more information on the change of business, please visit the Pedro website. The change of business is subject to the receipt of all necessary approvals, including without limitation regulatory approval from the CSE. There can be no assurance that the change of business will be completed as proposed or at all.

About Pedro Resources Ltd.

Pedro is a Canadian exploration company listed on the CSE focused on mineral exploration and development. The company is currently advancing a proposed change of business toward the development of biotechnologies for the remediation and reclamation of contaminated soils.

We seek Safe Harbor.