Evolving Gold Corp.
CNQ : GOLD

Evolving Gold Corp.

May 12, 2005 15:50 ET

Evolving Gold Corporation: Winnemucca Mountain Gold Property, Humboldt County, Nevada Update; Property Size Increased by 200 Additional Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 12, 2005) - Evolving Gold Corporation (CNQ:GOLD) is pleased to report that the land position on Winnemucca Mountain has been increased substantially. To date an additional 200 claims have been acquired by staking. This brings the total land position to 272 claims covering approximately 2115 hectares (5,226 acres).

Evolving Gold (the "Company") earlier announced (see press release dated December 6, 2004) that it had entered into an option agreement with Golden Sands Exploration Inc. to acquire a 100 percent interest in the Winnemucca Mountain property, subject to a 2% net smelter royalty. The property is located in Humboldt County, in northwestern Nevada. The property, which has excellent road access, is located about 25 km northwest of Newmont's Lone Tree gold mine (pre-production resource reported as 4.2 million ounces of gold) and 30 km southeast of the Sleeper gold mine (1.7 million ounces of gold and 2.3 million ounces of silver produced between 1986 and 1996).

The property is situated near the northern end of the highly productive Battle Mountain-Eureka gold trend, and is underlain by Triassic age sediments and Cretaceous and Tertiary age intrusive rocks. Previous exploration work by Santa Fe Pacific Mining (now Newmont) focused on the pediment-covered Swordfish Zone between 1988 and 1990. Gold mineralization at the Swordfish Zone occurs within a northeast-trending, low sulfide, quartz-adularia vein-type system. Santa Fe completed 73 reverse circulation drill holes, nearly all of which were focused on the Swordfish Zone, and reported results ranging up to 13.7 meters averaging 3.9 grams per ton gold. Santa Fe also calculated a resource within this one zone of 4.15 million tons grading 0.82 grams per ton gold (this historical resource is not NI 43-101 compliant, has not been verified by the Company, is presented for disclosure purposes only, and should not be relied on).

Near the end of Santa Fe's tenure on the property, a step-out hole, approximately 500 meters northeast of the Swordfish Zone, encountered 2.2 ounces per ton (68.6 grams per ton) gold across a 5 foot (1.5 meter) hole length, at what is now called the SF Extension Zone. This intercept has never been followed up by further drilling, and has been interpreted by the Company to indicate that the Swordfish Zone may be much more extensive than previously indicated, and that higher gold grades may occur in structurally-controlled zones northeast of Swordfish. The SF Extension, and beyond to the northeast, is a high-priority drill target for the Company.

In addition to the Swordfish and SF Extension areas, additional exploration targets have been identified and are comprised of multiple outcropping vein-style occurrences reported to carry anomalous gold values that have yet to be explored in detail.

Evolving Gold is currently carrying out a detailed compilation of existing data and has made preliminary geological investigations on site in preparation for a 2005 summer field program. Field work will consist of surface geological mapping, geophysical surveying of newly-interpreted target trends, and drilling of the higher-priority targets.

In compliance with NI 43-101, Lawrence A. Dick, Ph.D., P.Geo., is the Qualified Person responsible for the technical accuracy of this news release. Insufficient information is available to determine true width of drill intercepts. An independent NI 43-101 compliant technical report has been submitted.

On behalf of Evolving Gold Corporation

Lawrence A. Dick, Ph.D., P.Geo., President


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