Carpathian Gold Inc. announced that on December 24, 2013 it completed its first gold smelt at the RDM gold project, Brazil, which is wholly owned by the Corporation's subsidiary, Mineracao Riacho dos Machados Ltda. The Corporation has subsequently completed a second gold smelt and has poured its first dore gold bar of approximately 10.1 kg. Loaded carbon continues to be transferred from the CIL tanks to the ADR plant, where the gold will be stripped from the carbon and recovered in the electrowinning cells, on a routine basis.

The Corporation anticipates that gold dore production can now commence and that it can be shipped on a regular basis, currently forecast at 100,000 ounces per annum over the life of the mine. This achievement is a major milestone in transforming the Corporation into a gold producing operating company.