RDM

Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to
provide an update on its progress towards completion of its wholly owned Riacho
dos Machados Gold Project ("RDM" or "Project") located in the state of Minas
Gerais, Brazil. A video that shows the development of the Project as of the end
of April is available on the Corporation's website at www.carpathiangold.com.


Project Construction and Development



--  Development of the Project remains on schedule for gold production,
    expected to commence by the end of the 3rd quarter of 2013.  

--  The Project will produce approximately 100,000 ounces of gold on an
    annualized basis for an initial period of +8 years. 

--  As of the end of May, the construction and development of the project is
    approximately 82% complete with a peak work force of approximately 1,300
    people. To date there has been approximately 2.0 million man-hours of
    work on the Project with no loss time injuries. 

--  The Project will treat 7,000 t/d of ore from an open pit operation
    utilizing a standard crush, grind, CIL and ADR processing facility. The
    extraction rate of the mine for the combined waste plus ore will be
    about 2.1 million tones per month.  

--  The gold production line (crushing to smelting) is well advanced with
    crushers running and being commissioned.  

--  Two new reverse circulation drill rigs dedicated for ore control and
    short-term mine planning are in operation for use for grade control
    procedures. Ore is currently being stockpiled for the start-up of the
    process plant. 

--  Waste removal is progressing at full capacity and stockpiling of waste
    is within the planned Project schedule. 

--  The tailing dam and impoundment area construction is nearing completion
    and will be ready to receive water for the operation this month. 

--  The assay laboratory is fully functioning and treating approximately 250
    samples per day for ore grade control purposes. 



"This is an exciting time for Carpathian as the RDM Project is now nearing its
scheduled completion of construction in order to commence gold production and be
the next gold producer in Brazil", said Chairman and CEO, Mr. Dino Titaro.  "We
commenced grubbing and clearing of the site less than 11 months ago with
expected gold production by the end of the third quarter of this year. The mine
building and operating experience of our on-site management team and our
employees and contractors has allowed us, to date, to progress the Project on
schedule within a short construction time line."


"While the price of gold has significantly declined over the past few months and
is currently meeting resistance at the $1,400 level, we are fortunate that the
Project was designed using a $950 gold price and that we had entered into
protective measures for the Project, including the selling forward of
approximately 216,000 ounces of gold at $1,600 per ounce. We also have a loan
facility arrangement with Macquarie Bank for US $90 million to build the Project
and to date we have only drawn down approximately $62.5 million dollars with the
scope to scope project budget remaining on track".


When the Project is in its initial production phases, the Corporation will
provide guidance as to the gold production forecast for 2013 and its forecasted
cash cost and total cash cost. On an annualized basis, it is expected that the
total cash cost for the project will be below industry average. 


Further details on the Corporation and a video link on the development progress
of the RDM construction can be found on www.carpathiangold.com.


Mr. Titaro is the qualified person (as defined in National Instrument 43-101)
overseeing the design and implementation of the present exploration programs. He
is responsible for preparing the technical information contained in this news
release.


About Carpathian

Carpathian is an exploration and development company whose primary business
interest is developing near-term gold production on its 100% owned Riacho dos
Machados ("RDM") Gold Project in Brazil, which is currently focused on
construction, along with progressing its exploration and development plans on
its 100% owned Rovina Valley Au-Cu Project ("RVP") located in Romania. 


On a company wide basis, Carpathian currently hosts NI 43-101 proven plus
probable reserves of 830,200 ounces of gold (proven reserves of 2,300 Kt at 1.30
g/t Au and probable reserves of 18,500 Kt at 1.23 g/t Au) and NI 43-101 mineral
resources (inclusive of reserves) of approximately 8.1 million ounces of gold in
the measured plus indicated categories (RVP: 405.9 million tonnes at 0.55 g/t Au
for 7.19 million ounces, RDM: 19.36 million tonnes at 1.50 g/t Au for 0.936
million ounces) and approximately 0.9 million ounces of gold in the inferred
category (RVP: 26.8 million tones at 0.38 g/t Au for 0.33 million ounces, RDM;
9.447 million tones at 1.93 g/t Au for 0.587 million ounces), as well as 1.4
billion pounds of copper in the measured plus indicated category (RVP: 405.9
million tones at 0.16% Cu) and 97.0 million pounds of copper in the inferred
category (RVP: 26.8 million tonnes at 0.16% Cu) (see press releases dated July
17, 2012 and April 6, 2011 for further details on resources and reserves).


The RDM Gold Project is targeted to produce in the order of +/-100,000 ounces of
gold per annum with an anticipated goal for the commencement of production in
the second half of 2013. The Rovina Valley Project will enhance Carpathians
growth profile as a mid-tier gold producer.


Mr. Titaro is the qualified person (as defined in National Instrument 43-101)
and is responsible for preparing the technical information contained in this
news release.


Forward-Looking Statements: Statements and certain information contained in this
press release and any documents incorporated by reference may constitute
"forward-looking statements" within the meaning of applicable Canadian
securities legislation which may include, but is not limited to, information
with respect to the Corporation's expected production from, and further
potential of, the Corporation's properties; the Corporation's ability to raise
additional funds; the future price of minerals, particularly gold and copper;
the estimation of mineral reserves and mineral resources; conclusions of
economic evaluation; the realization of mineral reserve estimates; the timing
and amount of estimated future production; costs of production; capital
expenditures; success of exploration activities; mining or processing issues;
currency exchange rates; government regulation of mining operations; and
environmental risks. Often, but not always, forward-looking
statements/information can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or variations (including negative
variations) of such words and phrases, or statements that certain actions,
events or results "may", "could", "would", "might" or "will" be taken, occur or
be achieved. Forward-looking statements/information is based on management's
expectations and reasonable assumptions at the time such statements are made.
Estimates regarding the anticipated timing, amount and cost of exploration and
development activities are based on assumptions underlying mineral reserve and
mineral resource estimates and the realization of such estimates are set out
herein. Capital and operating cost estimates are based on extensive research of
the Corporation, purchase orders placed by the Corporation to date, recent
estimates of construction and mining costs and other factors that are set out
herein.


Forward-looking information involves known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
Carpathian and/or its subsidiaries to be materially different from any future
results, performance or achievements expressed or implied by the forward-looking
statements. Such factors include: uncertainties of mineral resource estimates;
the nature of mineral exploration and mining; variations in ore grade and
recovery rates; cost of operations; fluctuations in the sale prices of products;
volatility of gold and copper prices; exploration and development risks;
liquidity concerns and future financings; risks associated with operations in
foreign jurisdictions; potential revocation or change in permit requirements and
project approvals; competition; no guarantee of titles to explore and operate;
environmental liabilities and regulatory requirements; dependence on key
individuals; conflicts of interests; insurance; fluctuation in market value of
Carpathian's shares; rising production costs; equipment material and skilled
technical workers; volatile current global financial conditions; and currency
fluctuations; and other risks pertaining to the mining industry. Although
Carpathian has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein or incorporated by reference are
made as of the date of this presentation or as of the date of the documents
incorporated by reference, as the case may be, and Carpathian does not undertake
to update any such forward-looking information, except in accordance with
applicable securities laws. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly,
readers are cautioned not to place undue reliance on forward-looking
information. The forward-looking information contained or incorporated by
reference in this document is presented for the purpose of assisting
shareholders in understanding the financial position, strategic priorities and
objectives of the Corporation for the periods referenced and such information
may not be appropriate for other purposes.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Carpathian Gold Inc.
Shobana Thaya
Director, Communications & Investor Relations
+1(416) 368-7744
+1(416) 363-3883 (FAX)
info@carpathiangold.com
www.carpathiangold.com


Paradox Investor Relations
Montreal
+1(514) 341-0408 or
+1 (514) 341-1527 (FAX)
info@paradox-pr.ca


Seton Services, UK
Toni Vallen
+44 207 224 8468
toni@setonservices.co.uk

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