Pedro Resources Announces Cancellation and Grant of Stock Options

Pedro Resources Ltd. (TSX VENTURE:PED.H) ("the Company") announces that, by
agreement with the optionholders, the 1,500,000 stock options granted on
February 03, 2011 at a price of $0.35 for a period of five years, have been
cancelled.


Pursuant to the Company's Incentive Stock Option Plan, it has granted incentive
stock options to directors, officers, employees and consultants of the Company
and its affiliates to purchase up to an aggregate of 1,500,000 common shares in
the capital stock of the Company. The options are exercisable on or before April
14, 2016 at a price of $0.36 per share.


A copy of this release, as well as other information related to the Corporation,
is available on the Company's web site at www.pedroresources.ca and on SEDAR at
www.sedar.com.


On behalf of the Board of Directors of

PEDRO RESOURCES LTD.

John B. McCleery, President & CEO

This release has been prepared by management.

Pedro Resources (TSXV:PED.H)
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