RDM

Carpathian Gold Inc. (TSX:CPN) (the "Corporation" or "Carpathian") is pleased to
provide an update on its wholly owned Riacho dos Machados Gold Project ("RDM" or
"Project") located in the state of Minas Gerais, Brazil.


Project Construction and Development



--  The Project development remains on track for gold production in the
    second half of 2013 at an annualized rate of approximately 100,000
    ounces for an initial period of +8 years. 
    
--  As of the end of February 2013, the construction and development of the
    project in order to commence the start of gold production is
    approximately 70% complete with the work force approaching a peak number
    of 1,000. 
    
--  The Project will mine 7,000 t/d of ore from an open pit operation and
    will treat ore utilizing a standard crush, grind and a CIL processing
    facility. 
    
--  A new reverse circulation drill rig dedicated for ore-control and short-
    term mine planning has been commissioned and is drilling in the pit. 
    
--  Waste removal and mining is progressing as planned and ore is currently
    being stockpiled for the start up of the process plant in the second
    half of this year. 
    
--  The tailing dam and tailing impoundment area construction is progressing
    with approximately 1/3 of the impoundment area now lined and will be
    ready to receive water for the operations in early April. 
    
--  All major equipment and ancillary material for the crusher systems and
    process plant are either on site or being delivered and being erected as
    per the schedule. 
    
--  The assay laboratory is on site and ready to operate. 
    
--  The upgrade of the power line to the Project is underway and remains on
    schedule. 



Exploration Update

As previously reported (January 16, 2013) an initial 5,720 metre
exploration-drilling program was completed to evaluate on-strike near surface
oxide gold mineralization both to the north and south of the open pit. These
targets are a short distance from the crushing operations so that any new,
economically viable, mineralized zone could easily be trucked to the processing
facility that has excess capacity as it is a 9,000 t/d plant. The exploration
program included soil geochemistry, rock-float sampling, trenching, auger
drilling, and diamond core drilling. Three targets north, and one south of the
mine were drill tested while several additional targets were scout drilled.


New assay results have been received for the Northwest Extension of the open pit
and the Mata da Roca Target. Highlights are as follows:




--  Northwest Extension (Immediately north along strike of the Feasibility
    open pit) 
    
    --  Diamond drill hole FNW-01 intersected 6 m with 0.70 g/t Au (46 - 52
        m hole depth) 
        
    --  Diamond drill hole FNW-03 intersected 4 m with 1.07 g/t Au (1 - 5 m
        hole depth) 
        
--  Mata da Roca 2 Target (8.4 km south of the pit) 
    
    --  Diamond drill hole FMU-01 intersected 7 m with 2.09 g/t Au (21 - 28
        m hole depth) 



Assay results that were previously reported are as follows:



--  Cinco Mil Target (less than 1 km north of the pit) 
    
    --  Trench TRCM1 with 11 metres (m) at 3.23 g/t Au 
        
    --  Diamond drill hole FCM-13 intersected 11 m with 4.10 g/t Au (0-11 m
        hole depth, located below TRCM1) 
        
--  Manguinha Target (2 km north of the pit) 
    
    --  Diamond drill hole FMG-05 intersected 11 m with 1.02 g/t Au (14-25 m
        hole depth) 
        
    --  Diamond drill hole FMG-07 intersected 8 m with 1.34 g/t Au (31-39 m
        hole depth) 



Notes: Intersections utilize a 0.10 g/t Au cut-off allowing a maximum 2.0
consecutive m at less than 0.10 g/t Au and minimum intersection grade of 0.30
g/t Au. All above intersections are in weathered oxide zone. Intersection
lengths are reported as down-hole length as true widths are not precisely known
at this time. All drill holes are inclined at -50 to -60 degrees drilling
azimuth of 270 to 290 degrees with exception of FMG-05 which drilled at -85
degrees and azimuth of 90 degrees. Hole orientations are designed to cut the
regional trend of mineralization, which is north striking and east dipping.


The Mata da Roca target is deemed to be high priority target as it falls within
a composite 3 km long Au-in-soil anomaly (defined as greater than 10 ppb Au with
core zones of greater than 25 ppb Au; background is approximately 5 ppb Au).
There still remain at least three targets within 5 km north of the open pit mine
area that will require drill testing in 2013.


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


BTV Features Carpathian Gold on BNN & PDAC Event Details

BTV-Business Television features Carpathian Gold on BNN Saturday, Mar 2 @ 8:00pm
EST & Sunday, Mar 3 at 9:30am EST.
http://www.b-tv.com/i/videos/CarpathianGoldMar13.wmv


Please drop by our booth #2341 during the PDAC at the Metro Toronto Convention
Centre-South building on March 3-6, 2013.


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: 405.9 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.
Mike O'Brien or Shobana Thaya
(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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