Mr. Morgan Good reports

CARLYLE INCREASES UNIT OFFERING AND CLOSES FINAL TRANCHE FOR AGGREGATE GROSS PROCEEDS OF $1,175,000

Further to its news releases dated Aug. 11, 2023, and Aug. 18, 2023, Carlyle Commodities Corp. has closed the second and final tranche of its previously announced non-brokered private placement for gross aggregate proceeds of $527,485 through the issuance of 6,205,705 units of the company at a price of 8.5 cents per unit. Together with proceeds from the first tranche of the private placement, the company raised an aggregate of $1,175,000 and issued an aggregate of 13,823,528 units.

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

Fees of $4,964 were paid and 58,400 finder warrants were issued to certain finders in connection with the second tranche. Together with the first tranche of the private placement, the company paid aggregate finders' fees of $12,151 and issued 142,960 finder warrants. Each finder 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 second 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 on the Frankfurt Stock Exchange under the ticker BJ4.

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