diff --git "a/D:\\_Sandbox\\curl\\curl-src\\src\\tool_doswin.c.orig" "b/D:\\_Sandbox\\curl\\curl-src\\src\\tool_doswin.c"
index 98e13bc..2fcd28f 100644
--- "a/src/tool_doswin.c"
+++ "b/src/tool_doswin.c"
@@ -612,6 +612,52 @@ char **__crt0_glob_function(char *arg)
  * HKLM\SYSTEM\CurrentControlSet\Control\Session Manager\SafeProcessSearchMode
  */
 
+static BOOL file_exists(const char *filename)
+{
+  DWORD attribs = INVALID_FILE_ATTRIBUTES;
+#ifdef UNICODE
+  wchar_t *filename_w = curlx_convert_UTF8_to_wchar(filename);
+  if (filename_w) {
+    attribs = GetFileAttributes(filename_w);
+    free(filename_w);
+  }
+#else
+  attribs = GetFileAttributes(filename)
+#endif
+  return (attribs != INVALID_FILE_ATTRIBUTES) && (!(attribs & FILE_ATTRIBUTE_DIRECTORY));
+}
+
+static char *execpath(const TCHAR *filename)
+{
+  static const size_t BUFFSIZE = 512;
+  char *full_path = NULL;
+  TCHAR filebuffer[BUFFSIZE];
+
+  unsigned long len = GetModuleFileName(0, filebuffer, BUFFSIZE);
+  if(len > 0 && len < BUFFSIZE) {
+#ifdef UNICODE
+    char *filename_utf8 = curlx_convert_wchar_to_UTF8(filename);
+    char *exedir_utf8 = curlx_convert_wchar_to_UTF8(filebuffer);
+    if (filename_utf8 && exedir_utf8) {
+      char *lastdirchar = strrchr(exedir_utf8, '\\');
+      if(lastdirchar) {
+        *lastdirchar = '\0';
+      }
+      full_path = curl_maprintf("%s%s%s", exedir_utf8, DIR_CHAR, filename_utf8);
+    }
+    free(filename_utf8);
+    free(exedir_utf8);
+#else
+    char *lastdirchar = strrchr(filebuffer, '\\');
+    if(lastdirchar) {
+      *lastdirchar = '\0';
+    }
+    full_path = curl_maprintf("%s%s%s", filebuffer, DIR_CHAR, filename);
+#endif
+  }
+  return full_path;
+}
+
 CURLcode FindWin32CACert(struct OperationConfig *config,
                          curl_sslbackend backend,
                          const TCHAR *bundle_file)
@@ -627,23 +673,17 @@ CURLcode FindWin32CACert(struct OperationConfig *config,
   if((curlinfo->features & CURL_VERSION_SSL) &&
      backend != CURLSSLBACKEND_SCHANNEL) {
 
-    DWORD res_len;
-    TCHAR buf[PATH_MAX];
-    TCHAR *ptr = NULL;
-
-    buf[0] = TEXT('\0');
-
-    res_len = SearchPath(NULL, bundle_file, NULL, PATH_MAX, buf, &ptr);
-    if(res_len > 0) {
-      Curl_safefree(config->cacert);
-#ifdef UNICODE
-      config->cacert = curlx_convert_wchar_to_UTF8(buf);
-#else
-      config->cacert = strdup(buf);
-#endif
-      if(!config->cacert)
-        result = CURLE_OUT_OF_MEMORY;
+    char *cacert = execpath(bundle_file);
+    if (cacert) {
+      if (file_exists(cacert)) {
+        Curl_safefree(config->cacert);
+        config->cacert = cacert;
+      }
+      else
+        free(cacert);
     }
+    else
+      result = CURLE_OUT_OF_MEMORY;
   }
 
   return result;