Pedro Resources Completes Private Placement

Pedro Resources Ltd. (TSX VENTURE:PED.H), (the "Company"), announces that on
March 4, 2011 it completed the sale of 1,400,000 units at a price of $0.35 per
unit for gross proceeds of $490,000 (the "Offering"). Each Unit consists of one
common share of the Company (a "Share") and one transferable common share
purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one
share of the Company at a price of $0.45 per share for a period of one year
following the closing date of the Offering.


All securities are subject to a four month hold period expiring on July 5, 2011.

The Company intends to use the net proceeds from the Offering for general
working capital. The Company paid finders fees totaling $26,950 to LOM Lions
Overseas Management Limited, NBCN National Bank Correspondent Network, Hampton
Securities Limited & Gundy Co. for their efforts in sourcing purchasers for the
private placement.


Other Information: 

A copy of the release, as well as other information related to the Company, 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

PEDRO RESOURCES LTD.

John B. McCleery, President & CEO