Company Information for Carpathian Gold Inc

TSX-CPN

www.carpathiangold.com

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TSX; CPN

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Company Statement

Carpathian Gold Inc. (TSX:CPN) is a mineral exploration company focused on the exploration and development of mineral projects with a goal of becoming a gold producing company.

The company has significant exploration properties in both Romania and Hungary located within the Carpathian Arc Region of Eastern/Central Europe. Through its subsidiaries, the main focus of exploration efforts to date has been on the wholly-owned Rovina license, which is situated in the historic gold producing “Golden Quadrilateral” area of Central Romania. This license consists of two discoveries being the Rovina and Colnic gold- copper porphyry deposits. Both of these deposits are in an advanced exploration stage and the goal is to take them to the development stage in the near future. Currently, there is a 43-101 “first pass” Resource Estimate from 2006 drilling on the Rovina and Colnic porphyries with 3.1 million ounces of Gold and 1.1 billion lbs of Copper in both the Inferred and Indicated categories. A second resource estimate from the 2007 drilling will be released in the second quarter of 2008.

Recently, Carpathian Gold received shareholder approval to add a second gold project/platform to its portfolio with the acquisition of the Riacho dos Machados (RDM) Gold property in the Minas Gerais mining district of Brazil. This extensive permitted brownfield land package consists of a 1000 ha mining concession complete with surface rights and excellent infrastructure. There is a 560,000 oz Au, 3.77Mt @ 4.61g/T (non 43-101) historical resource with immediate potential for expansion of the resource. RDM also has a 21,000ha exploration land package with multiple identified targets.

Carpathian Gold is managed by a highly experienced resource team focused on maximizing shareholder value by using sound geological and economic parameters for discovery as well as future mine development.

Current Operations

Romania
Carpathian Gold, through its Romanian subsidiary, holds exploration licenses in the three principal mineral belts of Romania: the Golden Quadrilateral, the Baia Mare Mining District and the Banat Belt.

Carpathian Gold, through its Romanian subsidiary, holds exploration licenses in the three principal mineral belts of Romania: the Golden Quadrilateral, the Baia Mare Mining District and the Banat Belt.

The richest concentration of gold in Romania has been in the Apuseni Mountains, in an area known as the Golden Quadrilateral. This area has historically produced in excess of 40.0 million ounces of gold from epithermal deposits, and ranks as one of the richest epithermal gold producing regions of equivalent size in the world.

The second largest mining district in Romania is the Baia Mare District in northern Romania. Mining and exploration activities in the last 50 years have focused on base metals + gold vein deposits with significant gold production from the upper gold-rich parts of these ore systems. Historic gold production is estimated at 4 million ounces.

The Banat Region of South-West Romania includes porphyry copper and porphyry-related skarn deposits with the active Moldova Noua Mine exploiting a porphyry copper deposit. This belt of porphyry-related deposits extends South through Serbia and eastward into Bulgaria, and includes world-class copper-gold deposits (Bor and Majdenpeck Mines, Serbia, and Chelopech Mine, Bulgaria). Carpathian Gold holds 100% of the Oravita Exploration License.

Hungary
Northeastern Hungary includes a part of the Inner Carpathian volcanic arc, which is host to significant epithermal gold deposits in neighboring Slovakia, Ukraine, and the prolific gold deposits of Romania. The Tokaj Mountains include many occurrences of hydrothermal-altered volcanic rocks that have not been explored for bulk mineable gold deposits. Past gold production is limited to historic exploitation of narrow veins at Telkibanya in the Tokaj Mountains during the medieval period. In addition, Hungary is host to a segment of an older volcanic arc, which contains a porphyry copper deposit and an overlying high-sulphidation epithermal gold deposit at Resck (1.5 million ounce Au resource) in the Matra Mountains.

Carpathian Gold holds three Exploration Licences through two of its wholly owned Hungarian subsidiaries covering a total area of 100 km². Exploration efforts have focused in northeastern Hungary in the Tokaj Mountains on the Mad-Kiralhegy Exploration License (100% owned) and on the Fuzerradvany Concession (80%). In the Matra Mountains the Kanasvar Exploration License covers 2.45 km² proximal to the Lahoca gold deposit.

Geographical Spread

Romania
Hungry

Board of Directors and Key Management

Dino Titaro	President & CEO, Director
Peter S. Lehner	Chairman of Board, Director
Kevin Flaherty	Director
Guy Charette	Director
Patrick J. Mars	Director
Mr. John W. Hick	Director
Randall K Ruff	Executive Vice-President, Exploration
Dan Kivari	Chief Operating Officer
Linda Prager	CFO and Secretary
Alexandru Nicolici	Managing Director, SAMAX Romania SRL

Company Address

365 Bay St. Suite 500
Toronto, M5H 2V1


Telephone:	+ 1-416-368-7744
Facsimile:	+1-416-260-2243
Email:	info[at]carpathiangold.com
Website:	http://www.carpathiangold.com

Additional Address/Key Contact

Operations Office
SAMAX Romania S.R.L.
Str. Aleea Viitorului, nr. 2A, Sala 6
Cod 330075, Deva
Jud. Hunedoara , Romania
Tel: (+40) 254-232-070
m: office@samax.sintec.ro

Capital

132 Million Shares Outstanding

Annual General Meeting

May 13, 2008

Year End

December 31

Major Shareholders

Sprott Asset Management	10.6%
Mavinaur LLP	9%
Anglo Pacific PLC	5.5%

Most Recent Statement

13/08/08 - Carpathian Gold announces Joint Venture of Hungarian Properties
05/08/08 - Drilling at the Ciresata Porphyry cuts best hole on Rovina Project
23/07/08 - CPN In-fill & Delineation Drilling on the Rovina Porphyry, Romania
07/07/08 - Positive Drilling at the New Ciresata Porphyry Discovery increases the size of the mineralized zone
12/05/08 - Drilling on the New CIRESATA PORPHYRY DISCOVERY in Romania expands mineralized zone and intersects 163 m at 1.04 g/t Au eq.
07/05/08 - Carpathian Gold gives update on drilling at Rovina porphyry

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