Blacksteel Energy Inc. Announces Shareholder Approval of all Proposals at the AGM and Files for Reinstatement of Trading with the Exchange

Calgary, Alberta--(Newsfile Corp. - March 18, 2021) - Blacksteel Energy Inc. (TSXV: BEY) ("Blacksteel") is pleased to announce that all proposals at the AGM were approved.

Motions including changing the name, the approval of the potential sale of all the oil and gas assets, share consolidation, and the transfer of the listing from the TSXV to the CSE were all approved.

There can be no certainty that one or all of these will be acted upon. Further disclosure will be forthcoming as appropriate.

Blacksteel has applied to the TSXV to be reinstated for trading. The company cannot provide guidance as to when or if it will be reinstated for trading.

Blacksteel Energy Inc.

Blacksteel is a junior oil and gas company involved in the exploration, exploitation, development and production of petroleum and natural gas resources.

Jeff Callaway
President and CEO
(403) 540-2408

This news release may contain forward-looking statements relating to future acquisitions, including statements regarding future plans for such Assets. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things: the state of the economy in general and capital markets in particular; investor interest in the business and future prospects of Stargazer; future production rates; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the receipt, in a timely manner, of regulatory and third-party approvals.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, Blacksteel disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, Blacksteel undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Neither 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 release.

Not for distribution to U.S. Newswire Services or for dissemination in the United States of America. Any failure to comply with this restriction may constitute a violation in of U.S. Securities Laws.

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