Carpathian Intersects 208 m of 1.13 g/t Au & 0.19% Cu in Romania, & Extends Au-Cu Mineralization 300 m Below Previous Drilling

TORONTO, 05/11/10 - Carpathian Gold Inc. (TSX: CPN) (the 'Corporation' or 'Carpathian') is pleased to provide the initial results from its deep-drill hole program at the Ciresata Au-Cu Porphyry deposit, one of three proximal Au-Cu porphyry deposits discovered by Carpathian that comprise the 100% owned Rovina Valley Project ('RVP') in west-central Romania. Results from the first hole (RGD-16) of an initial three deep-drill hole program have been received. This hole was drilled vertically for 1,000 m and intercepted 668 m at 0.70 g/t Au and 0.15% Cu and includes 208 m at 1.13 g/t Au and 0.19% Cu. RGD-16 is the longest mineralized intercept encountered to date at the Ciresata Porphyry.

The Ciresata porphyry Au-Cu deposit is a blind deposit that begins approximately 40 to 140 m below surface. It is presently defined by a NI 43-101 compliant inferred resource estimate based on 15 widely spaced drill holes to a nominal maximum depth of 650 m below surface. The resource is estimated at 101.3 million tonnes at a grade of 0.90 g/t Au and 0.17% Cu (at a base-case cutoff of 0.70 g/t Au-eq(i) utilizing a gold price of US$675 per ounce and a copper price of US$1.80/lb). Several drill holes ended in mineralization and the objective of the deep-drill hole program is two-fold; 1) to test the depth extension of this mineralization in the context of utilizing a bulk underground mining method as outlined in the recently released results of a NI 43-101 compliant Preliminary Economic Assessment Study ('PEA') (see press release dated March 23, 2010), and 2) confirm the resource and geologic model for the deposit in the upper part of the drill holes.

Assay results from this first hole of the deep-drill hole program has locally verified the Inferred NI 43-101 Resource Estimate and geologic model, as an infill hole, and has extended the Au-Cu mineralization, approximately 300 m below the present Resource Estimate model. This hole was collared 150 m south of the previously reported intersection from RGD-12 which included 163 m at 1.94 g/t Au and 0.29% Cu.


Highlight intersections from hole RGD-16 are shown below:

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Au-eq(i)
Drill hole        From (m)  To (m)  Length (m)  Au (g/t)  Cu (%)       (g/t)
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RGD-16(ii)            142     933         791      0.63    0.14        0.92
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Including             160     828         668      0.70    0.15        1.01
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Including             316     524         208      1.13    0.19        1.54
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And                   373     501         128      1.27    0.20        1.70
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(i) To estimate Au-eq (Gold Equivalent) a gold price of US $675 and a
copper price of US $1.80/lb is used. This is consistent with the Au-eq.
calculations the Corporation has used in its previous press releases for
Ciresata.
(ii) RGD-16 located on drill fence 960N and drilled vertical to 1,000 m
depth; drill hole location is shown on drill hole location map at
www.carpathiangold.com.

'We are pleased with the results of this first hole of the deep-drilling program as it supports our belief that the Ciresata deposit extends significantly below our previous drilling', said Dino Titaro, President and CEO of Carpathian. 'The resource expansion at the Ciresata deposit, the highest gold-grade porphyry of the Rovina Valley Project, has the potential to impact and improve directly the positive results from the recently completed NI 43-101 compliant Preliminary Economic Assessment study released on March 23rd this year.'

The Ciresata porphyry is also open laterally and will be drill tested in conjunction with this deep drilling program.


Background: PEA Study

This study outlines the plan to mine the Rovina and Colnic porphyry Au-Cu deposits by open pit methods focusing on the high-grade cores of these deposits as they extend to the present surface. The 'blind' and higher grade Ciresata Au-Cu porphyry deposit will be mined by bulk underground mining methods. The results of the PEA Study highlighted additional upside potential for the resource growth at the Ciresata deposit, which is the objective of the deep-drill hole program. This program will test for depth extensions of the mineralization and provide infill drill hole data useful for upgrading the present resource category from Inferred to Indicated. A summary of the PEA results is provided below with further details found in the press release of March 23, 2010:


Highlights of the Study include:

-- Average annual gold production of 238,000 ounces per annum for the first
five years and averaging 196,000 ounces per annum over the mine life of
19 years, for a total of 3.72 million ounces of recoverable gold over
the life-of-mine (LOM).

-- Average annual copper production of 53.5 million lbs for the first five
years and averaging 49.4 million lbs per annum over the19-year mine
life, totaling 938 million lbs of recoverable copper over LOM.

-- Total gold equivalent ounces produced over the 19-year mine life is 6.22
million.

-- Total operating cash cost of US $379/oz with copper as a by-product
credit and US $483/oz gold ounce on a co-product basis (copper cash cost
is US $1.05/lb on a co-product basis).

-- Project net present value ('NPV') of US $316 million based on an 8%
discount rate at prices of US $900/oz for gold and US $2.25/lb of
copper.

-- At near spot metal prices of US $1,000/oz gold and US $3.00/lb. copper
the NPV is US $731 million based on an 8% discount rate.

-- Project internal rate of return ('IRR') of 15.7%, with a 4.9-year
payback on an initial Project capital expenditure of US $509.4 million,
at a gold price of US $900/oz and copper price of US $2.25/lb.

-- Project internal rate of return ('IRR') of 24.2%, with a 3.3-year
payback on an initial Project capital expenditure of US $509.4 million,
at a gold price of US $1,000/oz and copper price of US$3.00/lb.


Sample Protocol

All samples collected from any program in Romania and Hungary are prepared and analyzed at the independent ALS Romania SRL Laboratory in Gura Rosiei, Romania, owned and operated by ISO Certified ALS-Chemex Laboratory, using industry standard fire assay techniques for gold on 50-gram sample charges with AAS finish. Copper is analyzed using the industry-standard method of aqua-regia digest on a 0.40-gram sub sample with an AAS finish. Coarse blanks, pulp blanks, pulp duplicates, core twins and known gold and copper standards are inserted on a routine basis. They consist of 15 per cent of submitted samples. In addition, coarse rejects from 3% of the samples are periodically re-submitted for analysis. For the current drill program a minimum of 3% of sample pulps are analyzed at the ISO Certified OMAC Laboratory in Ireland, for check assays. The drill assays reported in this press release are from split HQ and NQ size diamond core with the remaining half retained for reference. All holes at Ciresata deposit are sampled at one metre intervals through the mineralized zone and two-meter intervals in the upper barren zone.

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

The Corporation is an exploration and development company whose primary business interest is developing near-term gold production on its 100% owned Riacho dos Machados Gold Project in Brazil, which is currently in the feasibility study stage, along with progressing its exploration and development plans on its 100% owned Rovina Valley Au-Cu Project located in Romania.


Forward-Looking Statements: This press release includes certain statements that may be deemed 'forward-looking statements'. Forward-looking statements are frequently characterized by words such as 'plan', 'expect', 'Project', 'intend', 'believe', 'anticipate', 'estimate', and other similar words, or statements that certain events or conditions 'may' or 'will' occur. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward-looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurance that forward-looking statements will prove to be accurate, as results and future events could differ materially from those anticipated statements. The Corporation undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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



Contacts:

Carpathian Gold Inc.
Dino Titaro, President & CEO
+1(416) 368-7744
+1(416) 260-2243 (FAX)

Carpathian Gold Inc.
Mike O'Brien, Manager Investor Relations
+1(416) 368-7744
+1(416) 260-2243 (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