BAIA MARE

Carpathian Gold has announced the results from three core drill holes recently completed on the Baiut Project located in northern Romania. Highlights include drill hole BBD-4 which intersected 18.35 m grading 6.07 g/t Au (from 30.80 m) including 4.00 m grading 23.36 g/t Au (from 43.00 m) and drill hole BBD-5 which intersected 10.60 m grading 4.22 g/t Au (from 61.50 m) including 5.60 m grading 7.19 g/t Au (from 61.50 m). The objective of this drill program on the Baiut project was to determine the width and grade of a subvertical vein structure and associated stock work zone which had never been tested by drilling.

Announced the results from three core drill holes recently completed on the Baiut project. Highlights include drill hole BBD-4 which intersected 18.35 m grading 6.07 g/t Au (from 30.80 m) including 4.00 m grading 23.36 g/t Au (from 43.00 m) and drill hole BBD-5 which intersected 10.60 m grading 4.22 g/t Au (from 61.50 m) including 5.60 m grading 7.19 g/t Au (from 61.50 m). The objective of this drill program on the Baiut project was to determine the width and grade of a subvertical vein structure and associated stock work zone which had never been tested by drilling. The two core holes from this first pass drilling program intersected the vein structure and stock work mineralization at a depth of approximately 30 to 40 m below surface. The results indicate that the gold mineralization is continuous over the intersected intervals with true widths in the metres, which includes vein zones of higher grade gold mineralization. On the Jereapen licence hole JDD-5 intersected 1.00 m grading 112.00 g/t Au (from 34.00 m). This drill hole targeted the near surface expression of one specific vein in a previously un-drilled vein swarm with known historical production from underground workings. The Corporation is also drilling on its 100% owned Oravita Exploration License in southern Romania and results will be forthcoming.

Announced the results from metallurgical testing of two samples collected from the Baiut gold resource project returned 95.3% and 93.0% gold recovery using bio-oxidation followed with conventional cyanide leach technology on sulphide concentrates.