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APO

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Share Name Share Symbol Market Type
TSXV:APO TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Carpathian Gold Inc.: Production Temporarily Suspended at the RDM Gold Project, Brazil

08/01/2014 6:56pm

Marketwired Canada


Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") has
temporarily suspended production at the RDM gold project, Brazil (the
"Project"), which is wholly-owned by the Corporation's subsidiary, Mineracao
Riacho dos Machados Ltda. ("MRDM"). The suspension follows receipt by MRDM of a
temporary suspension of the Autorizacao Provisoria de Operacao ("APO") which was
previously announced on December 13, 2013. The conditions leading to the
suspension of the APO are primarily the result of unusual recent heavy rainfall
at the site. MRDM is working with SUPRAM to assess the extent of the remediation
works required to have the suspension of the APO lifted. The Corporation will
provide further updates in this regard as they become available.


About Carpathian

Carpathian is an exploration and development company whose primary business
interest is developing near-term gold production at its 100% owned Riacho dos
Machados ("RDM") Gold Project in Brazil. In addition it is also focussed on
advancing 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 tonnes at 0.38 g/t Au for 0.33 million ounces, RDM;
9.447 million tonnes 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 tonnes 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. The Rovina Valley Project will enhance Carpathian's growth
profile as a mid-tier gold producer.


Mr. Dino 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.


The TSX does not accept responsibility for the adequacy or accuracy of this news
release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Carpathian Gold Inc.
Shobana Thaya
Director, Corporate Communications & Investor Relations
+1(416) 368-7744 Ext. 239
+1(416) 363-3883 (FAX)
info@carpathiangold.com
www.carpathiangold.com

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