Mr. Martin Walter reports

CARLTON PRECIOUS ANNOUNCES UPSIZE OF NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS UP TO $1.5 MILLION

As a result of investor demand, Carlton Precious Inc. has increased the maximum gross proceeds of its previously announced non-brokered private placement from $1,035,000 to $1.5-million. The revised private placement is composed of the sale of up to 16,666,666 units, each unit being priced at nine cents and comprising one common share and one-half common share purchase warrant. Each warrant will be exercisable at 12 cents for a period of 24 months following the closing date. In connection with the private placement, the company may pay finders' fees of 7 per cent in cash and 7 per cent in compensation warrants in accordance with the policies of the TSX Venture Exchange.

Closing of the private placement is subject to receipt of all necessary corporate and regulatory approvals, including the approval of TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.

Net proceeds of the private placement will be utilized to commence a drilling program at the company's wholly owned Esquilache project in Peru, to undertake exploration activities at the Matthina gold project and for general working capital purposes.

About Carlton Precious Inc.

Carlton Precious is a publicly traded precious and base metal exploration company listed on the TSX Venture Exchange. The company is managed by a team of experienced mining and geological professionals. Carlton Precious's projects are focused on key mining jurisdictions including Peru and Australia (central Victoria and Tasmania).

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