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,  Balkan  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


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 press 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 projects 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 the 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.

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