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Evolving Gold Intersects 131.0 Meters of 2.74 Grams/Tonne at Rattlesnake Hills, Wyoming

Posted on: Tuesday, 2 December 2008, 12:25 CST

VANCOUVER, Dec. 2 /PRNewswire-FirstCall/ - Evolving Gold Corp. (TSXV: EVG) (FSE:EV7) (the "Company") is pleased to announce additional assay results from the 2008 Phase One core drilling program at its Rattlesnake Hills project in Wyoming. Drillhole RSC 007 has intersected 131 meters of 2.74 grams/tonne gold (g/t). The re-assay of Hole RSC 003 using metallic screen fire assays has improved the results to 2.92 grams/tonne gold (g/t gold) over 146.3 meters.

Re-Assay of Drill Hole RSC-003 (North Stock):

Because of the visible gold and high grades encountered in drill hole RSC-003, (see news release 8/9/08), portions of the results were re-assayed using metallic screen fire assay protocols. In the re-assay the 146.3 meter interval has improved from 2.48 g/t to 2.92 g/t gold. A comparison of specific intervals is detailed in the table below:

------------------------------------------------------------------------- Initial Metallic RSC-003 From To Interval Assay Screen (meters) (meters) (meters) g/t Gold g/t Gold ------------------------------------------------------------------------- 149.3 198.1 48.8 2.22 2.40 ------------------------------------------------------------------------- 211.8 239.2 27.4 5.67 5.98 ------------------------------------------------------------------------- Including 233.2 238.4 5.2 13.85 15.15 ------------------------------------------------------------------------- 243.8 257.8 14.0 4.65 8.15 ------------------------------------------------------------------------- Including 249.9 257.8 7.9 7.78 13.95 ------------------------------------------------------------------------- 269.7 295.6 25.9 1.01 0.95 ------------------------------------------------------------------------- 342.9 416.1 73.2 0.76 0.90 -------------------------------------------------------------------------

Drill Hole RSC-007 (North Stock):

Hole RSC-007 was drilled to the south and collared approximately 65 meters to the southwest of hole RSC-003. Hole RSC-007 is interpreted to intersect the same zone of gold mineralization in the upper portion of the drill hole as was intersected in the upper portion of hole RSC-003. The bottom of RSC-007 is also interpreted to intersect the beginning of the lower zone of mineralization observed in hole RSC-003. This hole ended in gold mineralization of 2.58 g/t gold at 554.1 meters. The more significant intervals from hole RSC-007 are:

------------------------------------------------------------- Gold RSC-007 From To Interval grams/ (meters) (meters) (meters) tonne ------------------------------------------------------------- 105.2 236.2 131.0 2.74 ------------------------------------------------------------- Including 134.1 170.7 36.6 3.70 ------------------------------------------------------------- Including 160.0 169.2 9.2 8.11 ------------------------------------------------------------- Including 185.9 219.5 33.6 3.91 ------------------------------------------------------------- Including 189.0 195.1 6.1 7.56 ------------------------------------------------------------- 542.5 554.1 11.6 0.90 ------------------------------------------------------------- Including 551.7 554.1 2.4 1.74 ------------------------------------------------------------- Including 553.2 554.1 0.90 2.58 ------------------------------------------------------------- A re-assay program of metallic screen fire assays will be completed for the higher grade sections of hole RSC-007. Drill Holes RSC-004 and 005 (North Stock): These two drill holes drilled on the southeast portion of the North Stock target, intersected numerous zones of 0.X -1.X gpt gold. Some of the better intersections are shown in the tables below: ------------------------------------------------------------- Gold RSC-004 From To Interval grams/ (meters) (meters) (meters) tonne ------------------------------------------------------------- 208.5 213.1 4.6 2.54 ------------------------------------------------------------- 251.2 278.9 27.7 1.06 ------------------------------------------------------------- Including 257.6 263.7 6.1 2.01 ------------------------------------------------------------- 388.6 403.9 15.3 0.97 ------------------------------------------------------------- Including 396.2 402.3 6.1 1.80 ------------------------------------------------------------- ------------------------------------------------------------- Gold RSC-005 From To Interval grams/ (meters) (meters) (meters) tonne ------------------------------------------------------------- 109.7 133.4 23.7 1.47 ------------------------------------------------------------- 152.4 163.1 10.7 2.45 ------------------------------------------------------------- including 158.5 163.1 4.6 4.29 ------------------------------------------------------------- 306.3 324.6 18.3 1.16 ------------------------------------------------------------- including 320.0 323.1 3.1 2.99 ------------------------------------------------------------- 509.0 522.7 13.7 1.09 ------------------------------------------------------------- Drill Hole RSC-006 (North Stock): Some of the better intersections include: ------------------------------------------------------------- Gold RSC-006 From To Interval grams/ (meters) (meters) (meters) tonne ------------------------------------------------------------- 135.6 181.4 45.8 1.45 ------------------------------------------------------------- including 173.7 178.3 4.6 8.87 ------------------------------------------------------------- 368.8 387.1 18.3 1.16 ------------------------------------------------------------- including 378.0 384.1 6.1 2.20 ------------------------------------------------------------- 446.5 544.7 98.2 0.92 ------------------------------------------------------------- Including 483.1 487.7 4.6 2.15 ------------------------------------------------------------- Including 530.4 544.7 14.3 2.18 ------------------------------------------------------------- including 541.0 544.7 3.7 4.01 -------------------------------------------------------------

Rattlesnake Hills Project

Evolving Gold has completed fifteen core holes at its Rattlesnake Hills project, for a total of 6,524 meters.

The Rattlesnake Hills project is a volcanic hosted alkalic gold system similar to other volcanic complexes in the Rocky Mountain alkalic gold province, including Cripple Creek in Colorado, Zortman-Landusky in Montana, and Ortiz in New Mexico. Evolving Gold has an option to acquire 100 percent of the Rattlesnake Hills Property. In connection with the acquisition of the Rattlesnake Hills prospect, Evolving Gold filed a NI 43-101 compliant report which is available at www.sedar.com.

Additional Assay Information for Rattlesnake Hills

Assays are still pending for holes RSC-008 through 015, all in the North Stock target. The assays were implemented by the SGS Group. Samples were analyzed by 30g fire assay and an ICP finish, and all values over 10 gpt gold were re-assayed by 30g fire assay and gravimetric finish. All metallic screen fire assays were undertaken by the SGS Group, with the coarse fraction assayed in its entirety and two 30g fire assays completed for the fine fraction. Accurate estimates of the true widths of the mineralized intersections are not available at this early stage in the drilling program.

About Evolving Gold Corp.

Evolving Gold is focused on its discovery property - Rattlesnake Hills, Wyoming. Assay results for the first seven holes reveal an intersection of 2.92 Grams/Tonne over 146 Meters (RSC 003) and 2.74 Grams/Tonne over 131 meters (RSC 007). The Company has completed a 15 hole, 6,500 meter drilling program on this property with further assay results coming out over the next months. Evolving has the option to acquire 100% of the Rattlesnake Hills project.

Evolving also has 8 other gold properties primarily in Nevada including a lease agreement with Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties) located within the prolific Carlin Gold Trend (see press release 12/5/2007).

Evolving Gold has over $18 million in its treasury.

In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., President and Chief Geologist of Evolving Gold, is the Qualified Person responsible for the accuracy of this news release.

On Behalf of the Board of Directors EVOLVING GOLD CORP. ------------------------ Robert W. Barker, Ph.D., P.Geo C.E.O. and Director

Investors can post questions and receive answers or review questions and answers posted by other investors at the Evolving Gold Corp. IR Hub at http://www.agoracom.com/IR/evolving. Investors can also e-mail evg@agoracom.com with questions and correspondence or request to be added to the investor email list to receive all future press releases and updates in real time.

FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of Evolving's general business development, research development and Evolving's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Evolving Gold Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that Evolving's mineral deposit(s), fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our annual report on Form 20F filed with the U.S. Securities and Exchange Commission and filings made with the Canadian Securities Regulators.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

SOURCE Evolving Gold Corporation

Source: PR Newswire

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