TORONTO, ONTARIO--(Marketwire - Nov. 15, 2011) - Carpathian Gold Inc. (TSX:CPN) ("Carpathian" or the "Corporation") wishes to announce it has filed on an amended "Technical Report on the Resource Estimate Update and the Feasibility Study for the Riacho dos Machados Gold Deposit, Minas Gerais State, Brazil" ("Technical Report"). The Technical Report, originally dated May 20, 2011 (amended November 15, 2011) has updated qualified persons certificates as well as an addendum outlining additional information that has become available since the original date of filing.

This additional information pertains to the recent request by the Environmental Secretary of the Minas Gerais state government to construct a low permeability tailing impoundment area at the RDM Gold Project as well as design a low grade stock pile confinement area that will prevent any potential acid rock drainage that may occur.

All other scientific, technical components and results from the Technical Report as dated May 20, 2011 remain unchanged with the results previously announced in a press release dated April 6, 2011.

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, except as required by law. 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.

Contact Information:

Carpathian Gold Inc.
Dino Titaro
President and CEO
+1(416) 368-7744
+1(416) 363-3883 (FAX)