Evolving Gold Corp.
CSE : EVG
OTC PINK : EVOGF
FRANKFURT : EV7

Evolving Gold Corp.

September 08, 2016 08:00 ET

Evolving Gold Provides Update on First Reconnaissance Survey Highlighting an 8 Km by 2 Km Potential Lithium Mineralization Zone

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 8, 2016) - Evolving Gold Corp. (CSE:EVG)(FRANKFURT:EV7)(OTC PINK:EVOGF) (the "Company") is pleased to announce that it has completed its initial field mapping and survey program on targets the Company had previously identified as potential pegmatite hosts for lithium mineralization (see news release dated June 16th and July 5th 2016). A number of pegmatite bodies were identified, along with minerals associated with fertile granites, such as green muscovite and garnets that may be associated with lithium mineralized pegmatite. The geological work also identified a new type of target which is discussed below.

Geological mapping, conducted from July 9th to July 23rd, 2016, indicates that the area surrounding targets T5 and T8 is of particular interest for lithium prospectivity (for map, refer to Figure 1, below). During this initial exploration program, the field crew was able to find a series of minerals associated with fertile granite and possible mineralized pegmatite of lithium-cesium-tantalum ("LCT") type, the potential host rocks for lithium mineralization. At T5, the team identified abundant green muscovite and accessory garnet, which are also observed in the Nemaska Lithium deposit, approximately 20 kilometres ("km") to the southwest. Green muscovite and red garnet are typically found associated with fertile granite intrusions and within mineralized lithium host pegmatites (Bradley and McCauley, 2013).

Figure 1: Target and Field Sampling Locations

The geological team also identified a large circular structure (approximately 1,000 metres ("m") in diameter) associated with a topographic low and a geophysical magnetic high. (See Figure 2). This type of signature is sometimes associated with kimberlite or lamprophyre pipes, either of which are potential hosts for diamonds. This circular structure could also be associated with a carbonatite intrusion, which is sometimes associated with rare earth element mineralization. Other geological structures could also create a similar type of signature and further field exploration will be necessary in order to identify the source of this anomaly. The field work will include a till sampling program which, coupled with mapping of the outcrops and further geophysical interpretation, is expected to properly identify the feature.

Figure 2: Large Circular Magnetic Anomaly

Assay results of grab samples from pegmatite, paragneiss, granite and basalt units are currently pending. The field exploration team is compiling data in preparation for the second phase of ground work which will focus on the heart of the claims, located between targets T5 and T8, including further assessment of T1, which hosts the circular structure described above. This represents an area of 8 km by 2 km which current observations highlight as the most prospective for the presence of lithium mineralization. The remaining unvisited targets will also be part of the next field program, which is due to start on September 10, 2016. The historical geophysical data on the Property is also being compiled and will be reassessed along with our recent observations from the field by GDD Geosciences, to enhance the efficiency of field prospecting activities in the future.

Evolving Gold's Chief Executive Officer, Mr. R. Bruce Duncan stated, "The reconnaissance field survey was successful in rapidly identifying a large area with a high potential for lithium bearing pegmatite discoveries. Our team has already identified pegmatite with mineral combinations similar to those observed at the Nemaska Lithium Project, to the southwest of our claim blocks."

Target Information from Field Exploration

Cooling and fractionation processes during pegmatite intrusion events, may result in mineralogical and chemical zonation associated with lithium enrichment, creating potentially economic grades of spodumene mineralization in white LCT-type pegmatite (white potassic feldspar and quartz). T5 target (See Figure 1) consists of three large outcrops covering an area of 100 m by 200 m. The outcrops are composed of white pegmatite with 10% to 20% of green muscovite and 1% of red garnets, minerals that can be associated with lithium bearing pegmatite (Bradley and McCauley 2013).

Target T8 is granitic gneiss, with visible epidotization, sulphide minerals, and chloritized basalts observed along with pegmatite dykes ranging from 10 cm to 1m in thickness. A single allanite crystal (rare earth mineral) was included in one of the pegmatite grab samples. Green micas (fuschite or muscovite) were also observed in the pegmatite.

Targets T2, T7, T10 and T11 were surveyed and were found to be granitic gneiss with quartz, plagioclases and large amphibole crystals. Partial chloritization was observed in the gneiss, which was intruded by pegmatitic dykes with a NE-SW orientation. Target T10 exhibits a significant amount of epidote veining.

Targets T3, T4, T9 and T12 have not yet been field surveyed. No outcrop was discovered on Targets T6 or T1, hence further work will be required to characterize these areas properly. A large boulder field found on T1 will be reviewed, as well.

Field Sampling Program

A total of 87 field grab samples (including field duplicates of pegmatite) were collected for assaying. The samples include granitic gneiss, pegmatite, diorite, quartz veins and altered gneiss. The technical team will use the assay results to determine the presence of any chemical zonation and/or fertile granite compositions associated with potentially lithium-bearing pegmatite bodies (Selway etal, 2005). The grab sample duplicates will serve as field duplicates in a QA/QC program established by the company.

Grab samples from bedrock outcrop were shipped to Actlabs (Val D'Or, Quebec), where they will be pulped and assayed using the "Ultratrace 3" package. This procedure combines INAA with near-total acid digestion and ICP-OES and ICP-MS analyses to provide the concentrations of 65 elements. For complete details of this methodology, please refer to the Actlabs website: http://www.actlabs.com/page.aspx?page=508&app=226&cat1=549&tp=12&lk=no&menu=64

References

Bradley, Dwigt and McCauley, Andrew (2013). A Preliminary Deposit Model for Lithium-Cesium-Tantalum (LCT) Pegmatites. United States Geological Survey. Online at: https://pubs.usgs.gov/of/2013/1008/OF13-1008.pdf
Selway B. Julie, W. Breaks Frederick and Tindle, Andrew G. (2005). A Review of Rare-Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada, and Large Worldwide Tantalum Deposits. Online at: http://emg.geoscienceworld.org/content/14/1-4/1

Qualified Person

Jean-Philippe Paiement, P. Geo, M.Sc., is an independent Qualified Person ("QP") as defined by National Instrument 43-101 guidelines, and has reviewed and approved the geological information provided in this news release.

About Evolving Gold

Evolving Gold is focused on exploring the 72.5 square kilometre (total area) Lithium Lakes property in Quebec, located about 10 km north of the Route du Nord and between eight and 30 km from Nemaska Lithium's Whabouchi Project.

On Behalf of the Board of Directors

EVOLVING GOLD CORP.

"R. Bruce Duncan"
President, CEO & Director

Neither Canadian Securities Exchange nor its Market Regulator (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. 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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