Carlyle Announces Amendment to Sunset Property Option Agreement and Enters into Consulting Agreement

Carlyle Commodities Corp. (CSE: CCC) (FSE: 1OZA) (OTC: DLRYF) ("Carlyle" or the "Company") announces that it has entered into an amending agreement (the "Amending Agreement") to amend the terms of its option agreement dated November 7, 2018, as amended on May 9, 2018, May 25, 2018, June 25, 2018 and April 24, 2020 (collectively, the "Option Agreement"), whereby the Company has an option to earn a 100% interest in the Sunset mineral property, located in the Vancouver Mining Division, B.C.

The Company has entered into the Amending Agreement to amend the terms of the Option Agreement, pursuant to which the Company has an option to earn a 100% interest in the Sunset mineral property, located in the Vancouver Mining Division, B.C. Under the terms of the Amending Agreement, the Company has extended the second and third scheduled payments of exploration expenditures respectively to December 31, 2021 (as to $200,000) and December 31, 2022 (as to $700,000). A copy of the Amending Agreement has been filed under Carlyle's profile on SEDAR.

Consulting Agreement

On July 5, 2021, the Company entered into a consultant agreement (the "Consulting Agreement") with an independent consultant (the "Consultant") pursuant to the Consultant agreed to provide the Company general corporate development activities ("Services") for an initial 6-month term (the "Term"). As consideration for the Services provided by the Consultant, Carlyle shall issue common shares (each, a "Share") to the Consultant at a price per Share equal to the lowest permitted price by the applicable policies of the Canadian Securities Exchange ("CSE") at the end of each month of the Term for the services rendered that month. Accordingly, the Shares are to be issued pursuant to the prospectus exemption provided under Section 2.24 of National Instrument 45-106 - Prospectus Exemptions.

About Carlyle

Carlyle is a mineral exploration company focused on the acquisition, exploration and development of mineral resource properties. The Company has an option to earn a 100% interest in the Cecilia Gold-Silver Project located in the State of Sonora, Mexico. Carlyle owns 100% of the Newton Gold Project in the Clinton Mining Division of B.C, as well has formed a strategic partnership with HDI (The Hunter Dickinson Group) and has formed a 50-50 joint venture with HDI affiliate United Mineral Services Ltd. on the Mack Project located in B.C. The Company also holds an option to earn a 100% interest in the promising Sunset property located in the Vancouver Mining Division near Pemberton, B.C. Carlyle is based in Vancouver, B.C., and is listed on the CSE under the symbol "CCC".

ON BEHALF OF THE BOARD OF DIRECTORS OF

Carlyle Commodities Corp.

"Morgan Good"

Morgan Good
Chief Executive Officer

For more information regarding this news release, please contact:

Morgan Good, CEO and Director
T: 604-715-4751
E: morgan@carlylecommodities.com
W: www.carlylecommodities.com

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91790

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Carlyle Commodities

Carlyle Commodities

Overview

Carlyle Commodities (CSE:CCC) is a resource exploration and development company focused on acquiring, financing and developing growth-stage exploration projects that offer substantial upside. Carlyle Commodities’ flagship Cecilia gold-silver project is located in Sonora, Mexico approximately 40 kilometers southwest of Agua Prieta. The project is drill-permitted and comprises 7,739.4 hectares that have returned top rock chip and grab samples of 133.7 g/t gold and 335 g/t silver.

Carlyle Commodities also owns five projects in British Columbia, including its Sunset volcanic massive sulfide (VMS) cobalt–copper–zinc project, located only two hours drive from Vancouver, British Columbia, which was used as the company’s qualifying transaction. Carlyle’s other four BC projects are vanadium properties along the coast of British Columbia: Blackie, Peneece, Porcher and Star. Each property is located near major shipping routes and ports which could aid in delivering a finished product to foreign markets and end-users. The properties also host historical exploration work providing the company with additional exploration potential moving forward.

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