Vancouver, British Columbia ­ Mich Resources Ltd. announced that it has signed a term sheet (the "Term Sheet") dated July 27, 2021 for the acquisition of the advanced stage Pecoy copper exploration project located in Peru (the "Pecoy Project"). The signatories to the Term Sheet include Pembrook Copper Corp. ("Pembrook"), Minera Andina de Exploraciones SAA ("Minandex") and UMS Projects LP ("UMS"). The Term Sheet contemplates that the Pecoy Project will be acquired from Pembrook and Minandex for cash and Mich shares that will be immediately distributed by Pembrook to its shareholders. UMS acted as finder and facilitated the negotiations of the transaction ("Transaction") which will constitute a reverse take-over ("RTO") of Mich when completed. The Pecoy Project is an advanced copper exploration project located 150 kilometres northwest of Arequipa, within the Cretaceous Copper Porphyry Belt of Peru, host to the Zafranal copper porphyry (Teck Resources Limited and Mitsubishi Materials Corporation) located approximately 100 kilometers to the southeast of the project.