Mr. Morgan Good reports

CARLYLE CLOSES $647,515 INITIAL TRANCHE OF UNIT OFFERING

Carlyle Commodities Corp., further to its news release dated Aug. 11, 2023, has closed the first tranche of its previously announced non-brokered private placement for gross aggregate proceeds of $647,515 through the issuance of 7,617,823 units of the company at a price of 8.5 cents per unit.

Each unit consists of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional share at a price of 15 cents per warrant share for a period of 36 months following the date of issuance.

The aggregate proceeds of the first tranche are anticipated to be used for advancement of the company's flagship Newton project in British Columbia and general working capital.

Fees of $3,190 were paid and 37,520 finders' warrants were issued to certain finders in connection with the first tranche. Each finder's warrant is exercisable into one share for a period of 36 months at an exercise price of 8.5 cents.

All securities issued in connection with the first tranche are subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 -- Resale of Securities.

About Carlyle Commodities Corp.

Carlyle is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. Carlyle owns 100 per cent of the Newton project in the Clinton mining division of British Columbia, and is listed on the Canadian Securities Exchange under the symbol CCC, on the OTCQB Market under the ticker CCCFF and the Frankfurt Exchange under the ticker BJ4.

We seek Safe Harbor.