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Evolving Gold: Drilling Significantly Extends Gold System at the Rattlesnake Hills Joint Venture, Wyoming

November 15, 2011

VANCOUVER, Nov. 15, 2011 /PRNewswire/ – Evolving Gold Corp. (TSX: EVG) (OTCQX: EVOGF) (FSE: EV7) (the “Company”)
is pleased to provide an update of the drilling program at its
Rattlesnake Hills joint venture gold property in Wyoming. Rattlesnake
Hills is a joint venture with Agnico-Eagle (USA) Limited
(Agnico-Eagle).  Agnico-Eagle is the manager of the joint venture and
is funding 100 percent of the current exploration program.

Summary of Results:

        --  The 2011 summer program at Rattlesnake Hills has completed a
            total of 8,193 m (26,880 ft) of core drilling in 24 holes. The
            results of the first 11 holes are reported here.
        --  Drilling has extended gold mineralization at the North Stock
            target to depth and to the south west.
      o Drill hole RSC-160 intersected 282.9 m at 1.08 g/t Au (927.9 ft at
        0.031 oz/t), including 39.6 m at 2.57 g/t Au (129.4 ft at 0.075
        oz/t), confirming vertical continuity of gold mineralization to
        below a depth of 300 meters.
      o Drill hole RSC-165 intersected 115.8 m at 0.50 g/t Au (379.8 ft at
        0.015 oz/t) extending gold mineralization some 40 m to the south
        west of the know gold body.
      o Gold extensions are open to the south, west and at depth. Future
        drilling will continue to follow up on demonstrated extensions of
        the North Stock gold deposit.
        --  Drilling between the North Stock and Antelope Basin gold
            deposits has encountered broad intersections of gold
            mineralization.
      o Drill hole RSC-167 intersected 62.5 m at 0.51 g/t Au (205.0 ft at
        0.015 oz/t) 200 m south of the North Stock deposit and 300 m north
        of the Antelope Basin deposit. This mineralization has the
        potential to become a connecting zone of gold mineralization
        between the two deposits. Drilling will continue to further explore
        and define this area.
        --  In addition to the drill program, Agnico-Eagle initiated an
            extensive surface exploration effort and a district-wide
            airborne magnetic and radiometric survey was completed.  Only a
            fraction of the Rattlesnake Hills land package has previously
            seen modern exploration techniques applied to it.  This program
            is expected to highlight more gold target zones on the
            property.

“The drill results are very encouraging as they demonstrate that the
gold mineralization at North Stock both continues to depths greater
than 300 m and may extend southward to connect with the Antelope Basin
gold zone,” comments William Gee, CEO of Evolving Gold. “The existence
of a significant quantity of gold between the two known gold deposits
shows the potential to greatly enhance the economics of the known gold
system by possibly allowing for a single large pit with a reduced strip
ratio.” Mr. Gee adds, “We also remain excited for the potential to
expand beyond the known gold zones and develop additional drill target
elsewhere on this large property”.

Assays have been reported for eleven drill holes, RSC-157 through
RSC-167. Assays for the remaining thirteen drill holes of this summer
drill program will be reported once they are received.  To view an
image of the drill hole layout corresponding to this news release,
please click here or go to page 3.


             Rattlesnake Hills Project GoldAssays        

       Hole     From       To    Interval    Gold       Interval  Gold
              (meters)  (meters) (meters) grams/tonne     (ft)   oz/ton

    RSC-157      10.6      21.3     10.7       0.43        35.1  0.012

                 172.2    198.1     25.0       0.28        82.0  0.009

    RSC-158      166.2    201.2     35.0       0.28       114.8  0.009

                 234.7    251.5     16.8       0.29        55.1  0.009

    RSC-159         0      19.8     19.8       0.35        65.0  0.011

    RSC-160      33.5     316.4    282.9       1.08       927.9  0.031

    including    211.8    251.4     39.6       2.57       129.9  0.075

    RSC-161   Low level    Gold                                      

    RSC-162     240.79    266.7     25.9       0.24        85.0  0.007

    RSC-163      54.8     121.9     67.1       0.25       220.1  0.007

    RSC-164      128.0    158.5     30.5       0.28       100.0  0.008

                 280.5    372.2     91.7       0.24       300.8  0.007

    RSC-165      86.9     277.4    190.5       0.41       624.8  0.012

    including    86.9     202.7    115.8       0.50       379.8  0.015

    RSC-166   Low level    Gold                                      

    RSC-167      163.0    303.2    140.2       0.33       459.9  0.010

    including    176.8    239.3     62.5       0.51       205.0  0.015

             *0.24g/t Au cut-off grade is used forreporting purposes

All drill hole averages are weighted averages, weighting each assay
interval according to the core length for that assay interval. All
assay intervals are included in the average, with no bottom cut-off.
True widths of mineralization in these drill holes, at this stage of
exploration, are not precisely known.

Drill samples were collected with a diamond core drill.  Sample
intervals are 1.5 m (5 feet), but in some instances sample intervals
were based on geology and alteration.  Half core was shipped to
American Assay Laboratories in Elko, Nevada for preparation and to
American’s facility in Sparks, Nevada for analysis.  Gold assays were
determined using standard fire assay techniques on 30-gram pulps with
an atomic absorption finish.  Agnico-Eagle QA/QC included the insertion
of standards and blanks on a regular basis.  Check assays were
performed by SGS Minerals Services in Toronto, Ontario.

About The Rattlesnake Hills Project
Rattlesnake Hills is an Evolving Gold, gold discovery joint ventured
with Agnico-Eagle on June 27, 2011. Approximately 80,000m of core
drilling in 180 holes has been completed in 4 seasons of drilling.  As
part of the joint venture agreement Agnico-Eagle has the right to earn
up to 70% ownership in the project by spending $76 million on a
combination of cash payments to Evolving Gold, purchases of Evolving
Gold treasury shares, and project work commitments, including the
obligation to advance the project through feasibility.    Evolving Gold
has no further spending commitment on the project as part of this joint
venture.  The agreement allows for considerable resources to be brought
to the project in terms of people, mining expertise and capital while
allowing Evolving gold to focus its people and capital on the extensive
portfolio of gold properties it controls in Carlin, Nevada.

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 on
advancing its gold discovery at Rattlesnake Hills, Wyoming. In
compliance with National Instrument 43-101, the Company Chief
Geologist, Steven R. Koehler, BSc Geology and CPG, is the Qualified
Person responsible for the accuracy of this news release.

For more information about Evolving Gold please visit: www.evolvinggold.com.

On Behalf of the Board of Directors
EVOLVING GOLD CORP.

“William Gee”

William Gee
CEO and Director

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address
future events and conditions, which are subject to various risks and
uncertainties. The Company’s actual results and financial position
could differ materially from those anticipated in such forward-looking
statements as a result of numerous factors, some of which may be beyond
the Company’s control. These factors include: results of exploration
activities and development of mineral properties, fluctuations in the
marketplace for the sale of minerals, the inability to implement
corporate strategies, the ability to obtain financing, currency
fluctuations, general market and industry conditions and other risks
disclosed in the Company’s filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of
the Company’s management on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required by law. We seek safe harbour.

 

 

SOURCE Evolving Gold Corporation

PDF with caption: “2011 Rattlesnake Hills Drill Hole Layout”. PDF available at: http://stream1.newswire.ca/media/2011/11/15/20111115_C5692_DOC_EN_6678.pdf


Source: PR Newswire