VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 30, 2013) - ∩╗┐Evolving Gold Corp. (TSX:EVG) (OTCQX:EVOGF) (FRANKFURT:EV7) (the "Company") announces an update on its USA properties. Due to market uncertainties, Evolving Gold has re-evaluated the land position on its properties with a focus on refining its holdings to emphasize the strongest targets and assets.
The Rattlesnake Hills gold project in Wyoming remains a core asset to the company and Evolving Gold's property position remains unchanged. The Company has explored this property over the last 5 years with extensive drilling, surface mapping and rock and soil sampling, Evolving Gold continues to believe the strong value of this gold discovery and the district scale potential it represents.
The Carlin property and agreement with Newmont remains unchanged. The Arch Discovery at Carlin with its high grade gold mineralization and extensive gold system remains the cornerstone of Evolving Gold's exploration program in Nevada. The Carlin property is on the southern end of the prolific Carlin Trend, one of the best addresses in the world for gold mining and exploration.
Evolving Gold has released the Humboldt property. This property which was adjoining the Carlin property and has a number of interesting geological and geophysical targets proved to be an untenable asset since ongoing expenses were beyond those Evolving Gold could justify with its current financial position.
Evolving Gold's Jake Creek property is situated between Newmont's Carlin-style Twin Creeks Mine and the bonanza-grade epithermal gold deposit at Midas. Jake Creek exhibits characteristics of both deposit types and the focus of the preliminary exploration program has been on following the epithermal system and local high grade gold mineralization identified on the main part of the property. Using high resolution gravity and magnetic surveys in conjunction with detailed surface mapping program Evolving Gold has refined its claim package to focus on the strongest targets while minimizing expenses.
R. Bruce Duncan, CEO of Evolving Gold. stated " Evolving Gold is doing everything it can to minimize overhead expenses while exploring key assets and developing its gold properties. We believe in the properties we are developing and are working to bring each property to the next level of exploration."
About Evolving Gold Corp.
Evolving Gold is focused on exploration and development of its gold properties in and adjacent to the productive Carlin Trend of northern Nevada, and its gold discovery at Rattlesnake Hills, Wyoming. For more information about Evolving Gold please visit: www.evolvinggold.com.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
R. Bruce Duncan, President, CEO and Director
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).