The Common Shares of St Charles Resources Inc. Have Resumed Trading

ST CHARLES RESOURCES INC.

PRESS RELEASE

FOR IMMEDIATE RELEASE TSXV: SCRS

THE COMMON SHARES OF ST CHARLES RESOURCES INC. HAVE RESUMED TRADING

Toronto, Ontario, March 24, 2023 – St Charles Resources Inc. (TSXV: SCRS) (“St Charles”) is pleased

to announce that , in connection with its completion of its qualifying transaction (the “ Qualifying

Transaction”) with Eastern Resources OOD (“Eastern Resources”), the common shares in the capital of

St Charles (“Resulting Issuer Shares ”) will resume trading on the TSX Venture Exchange as of the

opening of the markets on Monday, March 27, 2023, under the stock symbol “SCRS”.

St Charles has received final approval from the TSX Venture Exchange (the “Exchange”) of the Qualifying

Transaction upon the issuance of the Final Exchange Bulletin on March 23, 2023. Pursuant to the Final

Exchange Bulletin , the Resulting Issuer is classified as a Tier 2 mining & resource issuer under the

Exchange policies.

Pursuant to applicable securities laws, Seefin Capital OOD, Balk an Mineral & Discovery EOOD and

GEOPS Bolkan Drilling Services EOOD, being three shareholders of St Charles are announcing the filing

of their respective National Instrument 62-103F1 - Early Warning Reports (each, a “Report”). Following

completion of the Qualifying Transaction, each shareholder acquired 9,523,800 Resulting Issuer Shares

such that each shareholder owns 15 .69%, on a non- diluted basis, and 14.56%, on a fully-diluted basis, of

the Resulting Issuer Shares. Copies of the Reports are available under St Charles’ SEDAR profile at

www.sedar.com.

About Eastern Resources

Eastern Resources is a private gold exploration company incorporated under the laws of Bulgaria with its

head office located in Sofia, Bulgaria. Eastern Resources is and has been since incorporation focused on

mineral exploration projects in Bulgaria. Eastern Resources’ material mineral and exploration projects

consist of the Kostilkovo gold property (“Kostilkovo Gold Project”) and the Kutel gold property (“Kutel

Gold Project ”). In connection with the completion of the Qualifying Transaction, Eastern Resources

became a wholly-owned subsidiary of St Charles.

Eastern Resources controls 100% of two quality epithermal gold projects located in the Bulgarian portion

of the Western Tethyan Belt: the Kutel Gold Project and the Kostilkovo Gold Project. Management of

Eastern Resources believes that its assets show potential for high -grade, good-metallurgy and low -

sulfidation epithermal gold mineralisation.

The business of the Resulting Issuer will be primarily focused on the exploration of the Kutel Gold Project,

the Kostilkovo Gold Project, and acquisition of additional properties in line with its focused exploration

strategy.

Further Information

Neither the TSX Venture Exchange nor its Regulation Services Provider as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press

release.

For more information, please contact:

For further information regarding the Resulting Issuer, please contact Sean Hasson at +359 2 989 2361.

Notice on Forward-looking Statements

This press release contains “forward -looking information” within the meaning of applicable Canadian

securities legislation. Generally, forward -looking information can be identified by the use of forward-

looking terminology such as “expects” or “does not expect”, “is expected”, or “believes”, or variations

(including negative and grammatical variations) of such words and phrases or state that certain acts, events

or results “may”, “could”, “would”, “might” or “will”.

Forward-looking information in this pres s release may include, without limitation, statements relating to:

the proposed business of the Resulting Issuer, and references to the potential of the Kutel Gold Project and

the Kostilkovo Gold Project.

These statements are based upon assumptions that are subject to significant risks and uncertainties,

including risks regarding the mining industry, commodity prices, market conditions, general economic

factors, management’s ability to manage and to operate the business, and explore and develop the project s

of the Resulting Issuer and its subsidiaries, and the equity markets generally. Because of these risks and

uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or

performance of the Resulting Issuer and its subsidiaries may differ materially from those anticipated and

indicated by these forward -looking statements. Any number of factors could cause actual results to differ

materially from these forward -looking statements as well as future results. Although t he Resulting Issuer

believes that the expectations reflected in forward looking statements are reasonable, it can give no

assurances that the expectations of any forward -looking statements will prove to be correct. Except as

required by law, the Resulting Issuer disclaims any intention and assume no obligation to update or revise

any forward -looking statements to reflect actual results, whether as a result of new information, future

events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.