Carolina Capital Corp. announces commencement of work program

/NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA/

Trading Symbol: TSXV: CQC

VANCOUVER, May 2, 2013 /CNW/ - Carolina Capital Corp. (the "Company") (TSX Venture: CQC) is pleased to announce that it has commenced the 2013 exploration program on the GP property, located near Lytton, British Columbia. The 1978 hectare GP property is a low sulphidation epithermal project lying within the Spences Bridge Gold Belt of south central British Columbia. Carolina is earning a 100% interest, subject to a 2% Net Smelter Return Royalty, by making cash payments of $25,000, issuing 700,000 common shares of Carolina over the next two years and completing $100,000 in exploration  expenditures.

Previous exploration by the property vendor located a linear NW trending gold-in-soil and arsenic-in-soil  anomaly in excess of three kilometres in length trending through the heart of the property. The Carolina program commencing today will focus on sharpening and defining this anomaly by closely spaced soil sampling on 50 metre by 25 metre grids. The purpose of this program will be to highlight areas for follow up trenching and/or diamond drilling.

The Spences Bridge Gold Belt has been explored for low sulphidation epithermal precious metal deposits since 2001.

The Company also wishes to announce that it has granted incentive stock options to a newly appointed director of the Company to purchase up to 100,000 common shares in the capital stock of the Company.  The options are granted pursuant to the Company's stock option plan and will be subject to applicable regulatory hold periods. The options are exercisable up to two (2) years from May 2, 2013 at a price of $0.20 per share.

R. Tim Henneberry, P. Geo., a qualified person under NI 43-101 and a Director of Carolina Capital Corp., has reviewed and approved the technical content of this news release.

ON BEHALF OF THE BOARD:

"Suzanne Wood"

Suzanne Wood
President, CFO & director    

Neither the TSX Venture Exchange Inc. 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.

SOURCE Carolina Capital Corp.

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