Evolving Gold Corp.

Evolving Gold Corp.

September 04, 2012 09:00 ET

Evolving Gold Continues to Hit High Grade at Carlin: 17.2 Meters at 9.85 Grams Per Tonne Gold Includes 4.7 Meters at 23.46 Grams Per Tonne Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 4, 2012) - Evolving Gold Corp. (TSX:EVG) (FRANKFURT:EV7) (OTCQX:EVOGF) (the "Company") is pleased to announce further high grade gold intercepts from drilling at its Carlin-Humboldt project, Nevada, including 17.2 meters at 9.85 grams per ton (gpt) gold (56.4 feet at 0.288 oz per tonne (opt) gold) in diamond wedge hole CAR-016.1.1. This interval includes 4.7 meters at 23.46 gpt gold (15.4 feet at 0.685 opt gold), which includes 1.2 meters at 37.00 gpt gold (3.9 feet at 1.081 opt gold). Additional significant intervals in this hole include 9.1 meters at 4.06 gpt gold (29.8 feet at 0.119 opt gold), 6.1 meters at 6.26 gpt gold (20.0 feet at 0.183 opt gold) and 1.8 meters at 16.67 gpt gold (5.9 feet at 0.487 opt gold).

"We are very pleased that our latest drilling confirms the presence of a thick zone of high grade gold mineralization at our Carlin-Humboldt project in Nevada," comments R. Bruce Duncan, CEO of Evolving Gold. "Our drilling continues to demonstrate thick intervals of high grade gold at depths and grades similar to or better than deposits already subject to underground mining elsewhere in the Carlin trend. We plan to continue to define this high grade gold system with additional drilling in 2012."

Hole CAR-016.1.1 is a wedge core hole drilled from CAR-016.1 (please see attached map and sections). The high grade intervals reported in CAR-016.1.1 are located approximately 18 meters north of similar mineralization encountered in CAR-016.1 (announced in a press release dated July 11, 2012). Depth to the top of mineralization (873.2 meters) is almost identical to CAR-016.1 (870.7 meters) and hole CAR-010 (879.8 meters) about 70 meters southwest of CAR016.1.1. This relationship indicates a potential for this high grade gold zone to be shallowly dipping and be nearly flat-lying. The high grade gold zone is open to the north, east and southeast. This hole is still in progress and assays are pending for intervals 2220-2723 and 3235 to 4085.

Core hole CAR-019, approximately 70 meters north/northeast of hole CAR-016.1, targeted extensions of the high grade gold mineralization and intersected a thick zone of highly altered sedimentary and igneous rocks, including lamprophyre and locally high arsenic values (>1000 ppm). CAR-019 appears to pierce a low grade portion or margin of this high grade gold system, returning a long interval anomalous gold mineralization, (108.8 meters at 0.42 gpt gold or 356.9 feet at 0.012 opt gold).

Core hole CAR-020 is currently underway and is designed to test extensions to high grade gold intervals seen in CAR-002, and the subsequent wedges from CAR-002. The hole is collared 40 meters northwest of CAR-002 and the drill trace is trending east/northeast. The geological sequence has been consistent with what we expect from CAR-002 and assays are pending.

These positive results which continue to establish volume to our high grade gold intervals strongly influence drill targeting. With these results in mind we have put in place another pre-collar 50 Meters east/southeast of CAR-016 and are preparing to set wedges from CAR-016 and CAR-019 to continue to test mineralization expanding around the CAR-010 through CAR-016 mineralized area and to the north, east and southeast. The placement of the new pre-collar will also allow maximum coverage for wedges testing the east and south eastern extents of the currently identified zone of mineralization.

In compliance with National Instrument 43-101, Dr. Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.

Hole From (meters) To (meters) Length (meters) Gold (grams per tonne) Length (feet) Gold (oz per ton)
CAR-016.1.1 873.2 882.3 9.1 4.06 29.8 0.119
885.0 891.1 6.1 6.26 20.0 0.183
including 887.8 891.1 3.3 8.69 10.8 0.254
900.8 918.0 17.2 9.85 56.4 0.288
including 907.8 912.5 4.7 23.46 15.4 0.685
including 910.1 912.5 2.4 32.73 7.9 0.956
927.6 929.4 1.8 16.67 5.9 0.487
CAR-019 1129.6 1238.4 108.8 0.42 356.9 0.012
including 1153.1 1178.4 25.3 0.73 83.0 0.021
including 1212.2 1223.3 11.1 0.82 36.4 0.024
Weighted averages were used in calculating all assay intervals reported above with no bottom cutoff

About Evolving Gold Corp:

Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and its gold discovery at Rattlesnake Hills, Wyoming.

On Behalf of the Board of Directors


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).

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