Carlyle Terminates the Cecilia Project Option with Riverside Resources and Provides Corporate Updates

Vancouver, British Columbia--(Newsfile Corp. - May 16, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZA) (OTC Pink: DLRYF) ("Carlyle" or the "Company") announces that it has given notice to Riverside Resources Inc. (the "Optionor") to terminate Carlyle's option to acquire a 100% interest in the Cecilia Silver-Gold Project (the "Cecilia Project"), consisting of 7,739 hectares located in Sonora, Mexico. The Cecilia Project was optioned to the Company pursuant to an option agreement (the "Option Agreement") dated July 13, 2020, between the Company and the Optionor.

For additional information on the Option Agreement and the Cecilia Project, please see the news release dated July 15, 2020, available under the Company's profile on SEDAR at www.sedar.com.

Appointment of New Corporate Secretary

Carlyle would also like to announce the appointment of Ms. Damien Good as its new Corporate Secretary. Ms. Good brings with her seven plus years of consulting experience in the areas of corporate development, investor relations, corporate finance, accounting, and secretarial assistance within public and private companies in sectors such as mining, health care and technology. She currently serves as director or officer for two BC companies. Ms. Good's level of expertise and organization will undoubtedly garner her as a valuable asset for the Company moving forward.

Furthermore, Carlyle would like to announce the resignation of its current Corporate Secretary, Andrew Brown. The Company thanks Mr. Brown for his many efforts and support and wishes him all the best in his future endeavours.

About Carlyle

Carlyle is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties. Carlyle owns 100% of the Newton Gold Project in the Clinton Mining Division of BC. The Company also holds an option to earn a 100% interest in the promising Sunset property located in the Vancouver Mining Division near Pemberton, BC, Carlyle is based in Vancouver, BC, 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/124302