Evolving Gold Corp.

Evolving Gold Corp.

April 11, 2016 13:18 ET

Evolving Gold Corp.: Update on Rattlesnake Hills Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 11, 2016) - Evolving Gold Corp. (CSE:EVG)(FRANKFURT:EV7)(OTCQX:EVOGF) (the "Company").

Further to the Company's recent news releases concerning the status of the disposition of the Rattlesnake Property, the Company advises that it has disposed of all of its 2,200,000 shares in the capital of GFG Resources (US) Inc. ("GFG"), pursuant to arm's length third party sale agreements, for aggregate consideration of US$495,000.

The Company continues to hold a promissory note due from GFG Resources on July 28th, 2016 for US$600,000, and certain other rights under its Asset Sale Agreement of July 28th, 2015.

Evolving Gold Corp. has 13,472,378 shares issued and outstanding with 14,675,949 fully diluted.

On Behalf of the Board of Directors


R. Bruce Duncan, CEO and Director

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

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. Specifically, there is no guarantee as to the future value of the GFG shares held by the Company; that GFG will ever obtain a listing of its common shares on any stock exchange; or that GFG will have the means to re-acquire the GFG shares held by the Company in accordance with its contractual obligations. 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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