Evolving Gold Corp.
CNSX : EVG
FRANKFURT : EV7
OTCQB : EVOGF

Evolving Gold Corp.

March 16, 2015 10:15 ET

Evolving Gold Initiates Auction Process for Rattlesnake Hills Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 16, 2015) - Evolving Gold Corp. (CSE:EVG)(FRANKFURT:EV7)(OTCQB:EVOGF) (the "Company") announces that its Board of Directors has agreed to conduct an auction process for the Company's 100%-owned Rattlesnake Hills Gold Project in Wyoming. The Company and its management feel that an auction process will be the most transparent means in which to assess third party interest in the Company's Rattlesnake Hills Property. To this end, the Company will be accepting written offers from interested parties. All interested parties should contact R. Bruce Duncan, the CEO of Evolving Gold, to receive a Confidentiality Agreement and additional information in respect to its Rattlesnake Property.

Rattlesnake Hills is located in Natrona County, Wyoming, United States. The project land package is composed of 644 lode mining claims covering approximately 5,235 hectares, and Wyoming state leases covering an additional 533 hectares. Recent drilling (since 2008) comprises 196 drill holes totaling 72,540 metres. Two gold deposits have thus far been identified: North Stock and Antelope Basin. North Stock is about 400 m by 200 m wide, trends north-northeast, and is open at depth and along strike. Mineralization has been drilled to as far as 500 m below the surface. Mineralization at Antelope Basin has been identified in an area of 200 m by 350 m to a depth of 200 m, trends northeast and is open along strike.

The property has been the subject of previous work by several operators, including, most recently, NV Gold Corp. As previously reported, NV Gold Corporation gave notice of termination of its option to purchase the Rattlesnake Hills Project, citing market conditions for its decision. Evolving Gold received approximately $1.25 million in cash, shares, and warrants under the option agreement, as well as the data arising from $580,000 in exploration activities conducted by NV Gold.

Previous work by all operators on the property is extensive, including 228 drill holes (mostly diamond core), totaling nearly 77,000 m. Core from drilling in the past six years has been retained by EVG. Additionally, various surface and airborne surveys have been completed, along with extensive surface work programs (such as mapping, soil sampling and chip sampling). To date, no National Instrument 43-101-compliant resource calculation has been completed on the property.

R. Bruce Duncan, the Company's CEO, states "The body of evidence arising from the extensive exploration activities already conducted on the Rattlesnake Hills Gold Project will give interested parties a significant advantage in assessing the potential of the project, when compared to similar projects still at the green field's stage of exploration. The two known mineralized zones remain open on strike, providing further upside potential."

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

Neither Canada Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canada Stock 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. 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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