ISS Governance Services Recommends Carpathian Shareholders Vote "FOR" the Acquisition of the Riacho Dos Machados Gold

TORONTO, ONTARIO, Mar 31 (MARKET WIRE) --
Carpathian Gold Inc. (TSX: CPN) ("Carpathian") is pleased to announce
that Institutional Shareholder Services Inc. /RiskMetrics
("ISS/RiskMetrics") has formally recommended that shareholders of
Carpathian vote "FOR" the proposed acquisition of the Riacho dos Machados
Gold Project. ISS/RiskMetrics is the world's leading provider of
corporate governance advisory services to institutional investors and
corporations worldwide.

ISS states, "The acquisition is expected to accomplish some of the
company's objectives, namely, the diversification of its projects,
development of a large production and resources base, and becoming a near
term gold producer". Dino Titaro, President and CEO said "We are very
pleased that, after an independent and comprehensive review,
ISS/RiskMetrics has recommended that Carpathian shareholders vote "FOR"
the transaction. In our view the ISS/RiskMetrics recommendation confirms
the opinions of Carpathian's management and Board of Directors as to the
strategic and economic benefits to be gained from this acquisition and
its complimentary nature to Carpathian's existing projects".

The deadline for receiving proxies is April 10, 2008 and Carpathian urges
shareholders to vote by signing, dating and returning their proxies in a
timely fashion. The Special Meeting of Shareholders will be held at 9:00
am on Monday April 14, 2008 at the National Club, 303 Bay Street,
Toronto, Ontario, Canada.

A conference call has been scheduled for Thursday April 3, 2008 at 10:00
am Eastern Standard Time (E.S.T.) to further provide information on the
Riacho dos Machados Gold Project, a status update on Carpathian's other
projects as well as management's strategic vision and goals for 2008.

Conference Call Information : EVENT # 3257420
---------------------------------------------

Local Area 416-620-3447
Toll Free (North America) 1-800-396-7098
International Country Access Code 800-4222-8835

Call participants can go to www.carpathiangold.com home page during the
call to view information on the project.

Conference Call Replay
----------------------

Replay Call 416-695-5800 password 3257420
Replay Toll Free Call 1-800-408-3053 password 3257420

The Conference call replay will be available April 3, 2008 to
April 13, 2008 11:59pm E.S.T.

About Carpathian

Carpathian is a mineral exploration company focused on gold exploration
and development primarily on its Rovina Exploration License in Romania.
Upon shareholder approval of the Riacho dos Machados acquisition, a
second gold exploration and development property in Brazil will be added
to the Carpathian's portfolio.

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. The reader is cautioned not to place undue
reliance on forward-looking statements.

TSX does not accept responsibility for the
adequacy or accuracy of this news release. Permission to use the
ISS/RiskMetrics quote was neither sought nor obtained.

Contacts:
Carpathian Gold Inc.
Dino Titaro
President & CEO
(416) 368-7744 (CAN)
(416) 260-2243 (CAN) (FAX)

Carpathian Gold Inc.
Mike O'Brien
Manager Investor Relations
(416) 368-7744 (CAN)
(416) 260-2243 (CAN) (FAX)
Email: info@carpathiangold.com
Website: www.carpathiangold.com

Kingsdale Shareholder Services Inc.
Toll-free: 1-800-775-3159

Eric Leboeuf
Investor Relations, Montreal
(514) 341-0408 (CAN) or 1-866-460-0408
(514) 341-1527 (CAN) (FAX)
Email: ericleboeuf@paradox-pr.ca

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