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RDM

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Share Name Share Symbol Market Type
TSXV:RDM 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 Announces Results of Voting and Change of Chairman

08/05/2013 4:41pm

Marketwired Canada


Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to
announce that all of the nominees listed in the Management Information Circular
for the 2013 Annual and Special Meeting of Shareholders were re-elected as
directors of the Corporation. Detailed results of the vote for the election of
directors held at the Annual and Special Meeting on May 7, 2013 in Toronto are
set out below:




----------------------------------------------------------------------------
Nominee                    Votes For   % For  Votes Withheld      % Withheld
----------------------------------------------------------------------------
Julio L. Carvalho        335,744,684   99.81         630,274            0.19
----------------------------------------------------------------------------
Guy Charette             335,853,484   99.84         536,474            0.16
----------------------------------------------------------------------------
David C. Danziger        335,844,834   99.84         529,124            0.16
----------------------------------------------------------------------------
John W. W. Hick          335,726,334   99.81         647,624            0.19
----------------------------------------------------------------------------
Peter S. Lehner          335,636,734   99.78         752,224            0.22
----------------------------------------------------------------------------
Patrick J. Mars          335,864,734   99.84         525,224            0.16
----------------------------------------------------------------------------
Dino Titaro              335,791,084   99.82         598,874            0.18
----------------------------------------------------------------------------



The re-appointment of PricewaterhouseCoopers LLP as the Corporation's auditors
was approved by 99.31% of shareholders, and the Corporation's stock option plan
was re-approved by 92.73% of disinterested shareholders.


Change of Chairman

Effective as of today, the Corporation also announces that Mr. Peter Lehner has
stepped down as Chairman of the Board due to time constraints as a result of his
other endeavours. Mr. Lehner will continue as a non-executive director of
Carpathian.


Mr. Dino Titaro, previously the Corporation's President and Chief Executive
Officer, has been named Chairman and Chief Executive Officer of Carpathian. Mr.
John Hick, currently a director of the Corporation, has been appointed as Lead
Director.


Mr. Titaro said "I wish to thank Peter Lehner for his leadership and dedication
to the development of our Corporation over the past years."


All other officers of the Corporation remain unchanged.

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: 405.9 million tonnes at0.16% 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.


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


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, Corporate 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 1-866-460-0408
+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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