Carpathian Gold Inc.
TSX : CPN

Carpathian Gold Inc.

April 30, 2007 08:00 ET

Carpathian Gold Intersects: 462 m at 1.21 g/t Au eq. at Rovina Porphyry & 235 m at 1.02 g/t Au eq. at Colnic Porphyry

TORONTO, ONTARIO--(CCNMatthews - April 30, 2007) - Carpathian Gold Inc. ('the Corporation") (TSX:CPN) is providing an update on the 2007 drilling activities at the Rovina and Colnic porphyry deposits, located approximately 2.5 km apart, on its 100% owned Rovina Exploration license in central Romania.

At the Colnic Au-Cu porphyry, highlight intersections include in-fill drill holes RCD-51 and RCD-53, located on the southwest edge of the grid drill pattern, which intersected:

235 m of 0.79 g Au/t and 0.12% Cu (1.02 g/t gold equivalent ("Au eq.")) including 184 m of 0.89 g Au/t and 0.14% Cu (1.16 g/t Au eq.) in drill hole RCD-51; and,

64 m of 0.75 g Au/t and 0.12% Cu (0.98 g/t Au eq.) in drill hole RCD-53.

At the Rovina Cu-Au porphyry, highlight intersections include in-fill drill hole RRD-20 and extension drill hole RRD-21, which intersected:

131 m of 0.37 g Au/t and 0.23% Cu (0.81 g/t Au eq. or 0.42% copper equivalent ("Cu eq.")) including 40 m of 0.57 g Au/t and 0.23 % Cu (1.01 g/t Au eq. or 0.53% Cu eq.) in drill hole RRD-20; and,

462 m of 0.43 g Au/t and 0.41% Cu (1.21 g/t Au eq. or 0.64% Cu eq.) including 203 m of 0.49 g Au/t and 0.47% Cu (1.38 g/t Au eq. or 0.73% Cu eq.) in drill hole RRD-21.

Note: Gold (Au) and copper (Cu) equivalents utilize gold at US$450/oz and copper at US$1.25/lb. Metallurgical recoveries are not considered.

"We are pleased that the latest set of drill results, which represents the commencement of the 2007 in-fill and delineation drilling program on each of the Rovina and Colnic porphyries, continue to return significant gold and copper intercepts over substantial continuous lengths consistent with a porphyry-style, bulk-mineable open pit deposit", said Dino Titaro, President and CEO of Carpathian.

A complete listing of the drill holes completed to date for each of the Colnic and Rovina porphyry systems as well as drill hole locations can be found on the Corporation's web site at www.carpathiangold.com. Drill hole intersection results for the holes mentioned in this press release can be found at the end of this press release.

The 2007 drilling program includes in-fill drilling, delineation drilling and exploration drilling for extensions to the mineralization at each of the Colnic and Rovina porphyry systems. In addition, during 2007 drilling will be carried out on other porphyry target areas outlined in 2006 and any new targets identified during the year on the Rovina License.

Rovina Porphyry

To date in 2007, 5 drill holes (2,374 metres) have been completed with assays received for holes RRD-18 to 21 and results pending for core hole RRD-22. Core hole RDD-18 was drilled between holes RDD-7 and RDD-17 to test the northeastern extent of the main body of the Rovina deposit. This hole is interpreted to be just outside of the main deposit and yet intersected significant mineralization at moderate depth of 119 m of 0.17 g Au/t and 0.26 % Cu (0.66 g/t Au eq. or 0.35% Cu eq.).

Hole RDD-19 was abandoned due to drilling problems and was re-drilled as RDD-20. This hole was designed to test for a possible extension of the mineralization within a geophysical magnetic low area (main body zone sits within a magnetic high), extending approximately 100 m west of the main body. This hole intersected the mineralized porphyry at modest depth and returned 131 m of 0.37 g Au/t and 0.23% Cu (0.81 g/t Au eq. or 0.42 % Cu eq.). This mineralization is significant as it demonstrates the possible extension of the main body to the west and a possible continuation of the mineralization to the new satellite target, Baroc zone (magnetic high) identified in 2006, which lies approximately 200 m west of the main body of the Rovina zone. Additional follow-up drilling will be carried out in this direction as this represents one of the open directions for the Rovina porphyry body.

Drill hole RRD-21 is an in-fill hole between holes RRD-5 and RRD-4. The purpose of this hole was to ascertain the continuity of mineralization within the western portion of the main body. This hole intersected the porphyry mineralization from surface to the end of the hole and returned 462 m of 0.43 g Au. and 0.41% Cu (1.21 g/t Au eq. or 0.64% Cu eq.). This significant hole will be followed up with further in-fill holes and extension holes in this vicinity of the porphyry body.

Assay results are pending for hole RRD-22, which tested the southern extension of the Rovina main body. Drilling continues on the Rovina Porphyry.

Colnic Porphyry

To date in 2007, 5 core holes (1,950 metres) have been completed, of which assays have been received for holes RCD-50 to 53, with assays pending for hole RDC-54.

Drill hole RCD-50 was drilled to test for the northeastern limit of the Colnic porphyry body. This hole intersected modest mineralization at depth and likely represents the limit of the porphyry in that direction, at that location.

Holes RCD-51 and 52, were in-fill holes along drill hole fence 940 N. Each hole was drilled to help define the southwestern edge of the porphyry body in this location. Both holes intersected significant mineralization which helps to demonstrate the grade and continuity of the porphyry system. Hole RCD-51 intersected mineralization essentially from surface to the end of the hole and returned 235 m of 0.79 g Au/t and 0.12 % Cu (1.02 g/t Au eq.). Hole RCD-52 intersected the most southwestern edge of the porphyry where expected, and intersected 18 m of 1.14 g Au/t.

Hole RCD-53 was drilled to test for the eastern limits of the porphyry body at depth. This hole intersected the mineralization where anticipated and returned 64 m of 0.75 g Au/t and 0.12 % Cu (0.98 g/t Au eq.).

Assays are pending for hole RCD-54, which was drilled to test for the continuation of the mineralization to the south-southeast. Further drilling continues on the Colnic porphyry.

Resource Update

AMEC Americas Limited's ("AMEC") work on the N.I. 43-101 compliant mineral resource Technical Report is progressing. While it is difficult to predict the actual delivery date of this report, particularly having regard to the busy nature of all independent consulting firms, it is hoped that it will be completed within the near future.

This resource estimate will include both the Colnic and Rovina porphyries and will only be based on drill hole data to the end of December 2006. The additional mineralization reported in this press release and any other mineralization intersected during the 2007 drilling program will be incorporated into a further updated resource estimate targeted to be prepared at the end of this year or early next year.

Generative Exploration

As previously reported (September 22 and December 27, 2006), the 2006 generative exploration program identified a minimum of three new porphyry targets (coincidental geophysical, geological, porphyry style alteration and stock work systems with Au & Cu mineralization), within a prospective 6.5 km long volcanic belt inclusive of the Colnic and Rovina porphyry systems. These are the Galaxy target (2.2 km west of the Rovina porphyry); the Ciresata target (4.5 km south-southwest of the Colnic porphyry); and the Baroc target (200 m to the west of the Rovina porphyry).

In early 2007, 4 core holes (1,075 metres) were drilled on a portion of the Galaxy Zone, within a small area of 100 m by 60 m. All holes encountered porphyry style alteration and mineralization indicating that the concept of a porphyry cluster within the vicinity of Colnic and Rovina porphyries is valid. The results from all of these holes returned highly anomalous copper values ranging from 500 ppm to 3,740 ppm with gold values ranging from 0.15 to 1.57 g/t Au. The fourth drill hole returned the best assay results (44 m of 0.21 g Au/t and 0.09% Cu) suggesting stronger mineralization to the south of the present drill area. Further drilling is required on this target to vector toward stronger mineralization.

Drilling has not yet commenced on either of the Ciresata or Baroc targets. However, the significant mineralization interested in hole RDD-20 at Rovina suggests that the Rovina mineralization may extend to the Baroc target. Initial drill testing of each of these targets will commence within the next few months.

Further generative ground work to define additional porphyry targets over a large area of 15 square kilometres, centered over the vicinity of the Rovina and Colnic porphyries, is nearing completion. Soil sampling is currently underway together with selected ground geophysics of Induced Polarization. The objective is to define new targets for drill testing in addition to the three targets referred to above.

All samples collected from any program in the country are prepared and analyzed at the independent Rom Analize 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 standards are inserted on a routine basis. They consist of 15 per cent of submitted samples. 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 are sampled on a one-metre interval from top to the end of the hole. 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.

The Corporation is a mineral exploration company focused on gold exploration primarily on its properties in Romania.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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.



Drill hole intersections for Colnic Holes RCD-50 to RCD-53

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Drill hole Fence From To Length Au g/t Cu% Au eq(i)
(m) (m) (m)
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RCD-50 1000 N 382 409 27 0.44 0.01 0.46
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478 550 (eoh) 72 0.32 0.09 0.49
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inclusive of 513 550 (eoh) 37 0.35 0.10 0.54
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RCD-51 940 - 1000 N 15 250 (eoh) 235 0.79 0.12 1.02
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inclusive of 15 199 184 0.89 0.14 1.16
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also 122 199 77 1.12 0.15 1.41
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RCD-52 940 N 7 20 13 0.28 0.04 0.36
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49 67 18 1.14 0.01 1.15
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RCD-53 740 N 180 293 113 0.37 0.08 0.52
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inclusive of 180 216 36 0.61 0.05 0.71
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and 341 372 31 0.42 0.13 0.67
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414 478 64 0.75 0.12 0.98
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eoh equals end of hole

(i) Au Equivalent - utilizes gold at US$450/oz and copper at US$1.25/lb. Metallurgical recoveries not considered. A plan map of all drill hole locations to date can be found on the corporate website www.carpathiangold.com

Holes RCD- 50 and 53 were drilled at an azimuth of 235 degrees and inclinations of -68 and -65 degrees, respectfully. RCD 51 was drilled at an azimuth of 025 degrees and at an inclination of -46 and hole RCD-52 was drilled at an azimuth of 238 degrees and at an inclination of -60 degrees.



Drill hole intersections for Rovina Holes RRD-18 to RRD-21

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Drill hole Fence From To Length Au g/t Cu% Au eq(i) Cu eq(i)
(m) (m) (m)
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RDD - 18 Main
Body 140 560 (eoh) 420 0.16 0.20 0.54 0.28
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140 259 119 0.17 0.26 0.66 0.35
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RRD - 19 Main
Body abandoned
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RRD - 20 West of
Main
Body 281 412 131 0.37 0.23 0.81 0.42
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Incl 281 321 40 0.57 0.23 1.01 0.53
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RRD - 21 Main
Body 1 463 462 0.43 0.41 1.21 0.64
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inclusive of 1 366 365 0.47 0.44 1.31 0.69
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and 1 204 203 0.49 0.47 1.38 0.73
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All core holes at Rovina are vertical holes. eoh equals end of hole

(i) Au & Cu Equivalent - utilizes gold at US $450/oz and copper at US $1.25/lb. Metallurgical recoveries not considered. A plan map of all drill hole locations to date can be found on the corporate website www.carpathiangold.com

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

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