Pedro Resources Ltd. announced potentially significant results from an indicator mineral survey of stream sediments on Pedro's current property. The samples were collected in July 2019 on Pedro's Voisey's Bay West (VBW) property as it then existed. The survey was hampered by poor weather and consequently the full property was not covered.

The stream sediment samples were processed in August 2021 and analysed with automated Scanning Electron Microprobe (SEM) techniques by Dr. Derek Wilton, PGeo. The analyses indicated the variable presence of sulphide minerals (pyrrhotite, chalcopyrite and pentlandite) as inclusions in sediment grains from some stream samples. These are the same minerals that constitute the ore mineral assemblage at Voisey's Bay Mine (VBM), owned and operated by Vale, and their presence in the survey samples suggests a possibility for VBM-style mineralization in bedrock upstream from the sediment sample collection sites.

Two clusters of samples with these sulphide inclusions were identified on high plateau regions of the property. The restricted nature of the high plateau streams suggests a more a local source for the sediment. Based on these sulphide-bearing stream sediment samples and the suggestion of a possible local source for the sulphide minerals, Pedro staked a number of claims in two licences to cover possible upstream sources of the sediment.

These two new mineral licences are contiguous to Pedro's VBW property and contain 178 and 106 claims, respectively, for a total of 284 claims covering 7,100 hectares. The addition of these claims increases the size of Pedro's land package to 15 licences containing 1,005 claims with a total area of 25,125 hectares. One of the new licences also covers several copper occurrences documented in the NL Government Mineral Occurrence Database (MODS).

Pedro plans an aerial VTEM geophysical survey over all licences in 2022 to identify targets on this land package which was staked by the original VBW exploration group, some of whom were a part of the original Vale/INCO exploration team.