CARLYLE COMMODITIES CORP. announced the completion of a new diamond drill program at the Newton Project. The drill program completed 840.3 metres of drilling across 7 (seven) drill holes, and successfully tested multiple high priority targets with aims of increasing both tonnage and ounces of gold and silver in the Company's current National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") Newton Project Resource Calculation.

All seven holes have been sampled and sent to Bureau Veritas, an ISO 9001 certified independent lab for analysis. The Company expects to receive initial results in the coming weeks. The targets of this 7-hole drill program included surface geochemical gold anomalies, open mineralization, and mineralized volcanic and intrusive rocks from historic distal drilling, with the intention of increasing the NI 43-101 inferred mineral resource, expanding potential higher-grade areas near surface, and exploring potential new zones of mineralization on the property.

At the Newton Project, gold is hosted in felsic volcanic, mafic volcanic, and quartz porphyry intrusive rocks. This drill program intersected all of these lithologies in varying degrees of alteration and associated sulphide deposition, and all holes successfully intersected their primary targets. Hole N23-092 was drilled 50 metres north of hole 10016 where the inferred mineral resource remains open to the northwest along a broad corridor.

The hole was drilled to a depth of 258 m and intersected strongly altered quartz feldspar porphyries intruding altered felsic volcanic rocks with disseminated and fracture-controlled pyrite. Holes N23-093, 94, and 95 were drilled approximately 350 - 450m north of the NI 43-101 inferred mineral resource boundary, around historical hole 10030. Hole 10030 intersected 24 metres of 0.83 g/t Au from 18.0 - 42.0 metres in propylitic altered mafic volcanics associated with an IP chargeability anomaly.

As such, this area represents a potential higher grade near surface area of significant interest. The Company drilled three holes around hole 10030, triangulating 50m step outs to the northeast, southwest, and northwest of this hole to investigate possible continuation of this mineralization. These holes were also plotted based on gold-in-soil geochemical anomalies and elevated IP chargeability anomalies proximal to hole 10030.

All three holes intersected propylitic altered mafic volcanics with disseminated and fracture-controlled sulphides from surface to the approximate total depth of 100m in each hole. Hole N23-096 was drilled more than 100 meters north of the inferred mineral resource where historic trenching, rock and soil sampling all returned significant gold values at surface. The hole was drilled to 87 metres and intersected very strongly altered felsic volcanics with disseminated and fracture-controlled sulphides to a depth of 24 metres.

The hole cut altered mafic volcanics from 24 to the total length of 87 metres, including small metre scale felsic intrusive. Hole N23-097 was drilled immediately west of the inferred mineral resource where mineralization is open and begins at surface, demonstrated in historic trenching and drilling. The hole was drilled to a depth of 135 metres and intersected strongly altered quartz feldspar porphyry with disseminated and fracture- controlled sulphides as pyrite - chalcopyrite ± sphalerite veinlets.

Hole N23-098 was drilled 750 meters northwest of the inferred mineral resource targeting a gold-in-soil geochemical anomaly proximal to historic drill holes that intersected felsic volcanics and quartz feldspar porphyry. This hole was drilled to 54.0 metres and intersected altered quartz feldspar porphyry with disseminate and vein hosted pyrite. The Newton Gold Project contains a current NI 43-101 resource calculation effective June 13, 2022 (the "Updated Newton Resource Calculation"), which utilizes optimized pit shell constraints to fulfil the requirement for "reasonable prospects for eventual economic extraction".

The inferred mineral resource contains 861,400 oz of Au, and 4,678,000 oz of Ag with an average grade of 0.63 g/t Au, a cut off of 0.25 g/t Au throughout 42,396,600 tonnes. The Newton Gold Project deposit remains open in multiple directions with potential for increased size, grade, and additional mineralized areas. The current inferred mineral resources occupy only approximately 7% of the area of an underlying broad induced polarization ("IP") anomaly.

Immediate areas for follow up include south and southwest of the current inferred mineral resource, where historic drilling has intercepted mineralized volcanics, which are not part of the Updated Newton Resource Calculation, as well as down dip to the southwest, where the mineralization remains open. Much of the large Newton Gold Project sulphide-bearing alteration zone, as defined by Amarc Resources Ltd.'s ("Amarc") 2010 IP survey, has not been thoroughly explored. The Newton Gold Project gold deposit lies within a northwest trending total field magnetic low that extends approximately 500 m to the northwest beyond the deposit as defined by the densest drilling, to an area where the few exploration holes returned geologically important intersections of greater than 100 ppb (0.1 g/t) Au, such as hole 92-03 that returned 54 m grading 0.50 g/t Au including 30 m grading 0.70 g/t Au, and hole 10023 that returned 39 m at 1.21 Au, indicating potential to host additional resources.

In addition, to the north, mineralization in hole 12076 has not been fully explored and in the south, the mineralized intervals in hole 12086 are indicative of resource potential in this vicinity. Carlyle Commodities has applied a rigorous quality assurance/quality control program at the Newto Project using best industry practice. All core was logged by a geoscientist.

The Newton Project drill core was drilled at NQ diameter. The drill core was split in half using a core saw and each sample half was placed in a marked sample bag with corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored in a secure facility.

The chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory. All samples were shipped to an ISO 9001 certified independent laboratory. A minimum of 5% of certified reference samples and duplicates were inserted into the sample sequence.