Carpathian Gold Inc. is a mineral exploration and development company. The Company is involved in the exploration and development of mineral properties situated in the Carpathian Arc region of Europe, predominantly in Romania, with minor exploration activity in Hungary. As of December 31, 2008, the Romanian properties covered a total of approximately 94 square kilometers consisting of the 100% owned Rovina Exploration License located in central Romania. The Rovina Exploration License hosts three copper-gold porphyry systems (Rovina, Colnic and Ciresata). The Hungarian properties include one exploration license, the Kanazsvar License, and one mineral concession, Fuzzerradvany that together total approximately 95 square kilometers in the Tokaj and Matra Mountains situated in north-eastern Hungary. On October 30, 2008, it closed the acquisition of an exploration/development property located in Minas Gerais State, Brazil referred to as the Riacho dos Machados gold project.