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Carpathian Gold to Spend $152 Million for 2012; Reviews 2011 Achievements; Price Up 1%

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Carpathian Gold Inc. (CPN.TO) edged up 1% to 48 cents, with more than 107.9 thousand shares changing hands, after announcing the results and achievements for 2011 and its capital expenditure and exploration work programs and outlook for 2012.

The company is pleased with the achievements it made in 2011 on its two wholly owned assets:

- Riacho dos Machados Gold Mining Project in Brazil which is now in the mine construction phase and;

- the Rovina Valley Project in Romania which is currently undergoing a Pre-feasibility Study.

The company also announced that it has allocated a total budget of approximately $152 million for 2012.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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