Carlyle Commodities Corp. provided the following update to its shareholders of which the Company has made progress on various fronts during the second half of 2022, including in recent weeks at its 100% owned Newton Project (Newton Project). Carlyle's VP of Exploration and Director, Mr. Jeremy Hanson, has been at the Company's Newton Project site over recent weeks preparing Carlyle's Phase 1 Drill Program's preliminary steps, which preparations included: All necessary site assessments for Phase 1 planned drill sites and exploration trails.

Construction of winter core processing facilities. Construction of winter core logging facilities. Installation of high precision digital GPS base points.

Reconnaissance for the future building of the field office and first aid building. As Carlyle has a 5-year Notice of Work Permit to further explore and develop the Newton Project, the Company anticipates mobilizing the Phase 1 diamond drill program in the coming weeks. As part of the initial phase, Mr. Hanson and his crew of approximately 8-10 personnel will plan to arrive on site and begin a 14-hole diamond drill campaign to test various step out targets of merit, as well as seek to add tonnage and ounces to the existing resource calculation by testing expansion and infill drill targets.

Specific details of the Phase 1 exploration program will be shared in due course.