Evolving Gold Intersects Additional High Grade at Carlin

Date : 11/14/2012 @ 7:00AM
Source : Marketwired

Evolving Gold Intersects Additional High Grade at Carlin

Evolving Gold Corp. (XE:A0MVLE)
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Evolving Gold Corp. (TSX:EVG) (FRANKFURT:EV7) (OTCQX:EVOGF) (the "Company") announces high grade gold intersections in drill holes CAR-016.2 and CAR-021 at its Arch target on the Carlin trend in Nevada. Drill hole CAR-016.2 intersected 9.4 meters at 12.51 grams per tonne gold (30.8 ft at 0.365 opt Au), which includes 3.4 meters at 28.22 grams per tonne gold (11.2 ft at 0.824 opt Au). Drill hole CAR-021 intersected an upper interval of 27.7 meters at 4.97 grams per tonne gold (90.9 ft at 0.145 opt Au) including 7.6 meters at 11.34 grams per tonne gold (24.9 ft at 0.331 opt Au), and a lower interval of 10.2 meters at 17.92 grams per tonne gold (33.5 ft at 0.523 opt Au).

"These results continue to demonstrate that we have identified a significant zone of high grade gold mineralization on our Carlin land holdings in Nevada," comments R. Bruce Duncan, CEO of Evolving Gold. "Our geologists have interpreted a zone of high grade gold mineralization following along the crest of the Arch Zone. We consider the entire crest of the Arch Zone between CAR-007 and CAR-002, a distance of approximately 700 meters, to be highly prospective for additional high grade discoveries and extension of the known high grade, and we believe that the high grade potential is completely open along strike."

--  Diamond drill hole CAR-016.2, is a wedge hole off of drill hole CAR-
    016.1. It contains multiple gold intersections including 9.4 meters at
    12.51 grams per tonne gold, including an interval of 3.4 meters at 28.22
    grams per tonne. Drill hole CAR-016.2 is approximately 10 meters west of
    CAR-016.1. It was designed to test the area between CAR-016.1 and CAR-
    007. CAR-007 was the first hole that intersected high grade gold in the
    Arch target. Results demonstrate continuity of high grade gold

--  Diamond drill hole CAR-021, located 45 meters east of CAR-016.2,
    intersected two high grade gold intervals. The upper interval of 27.7
    meters at 4.97 grams per tonne gold includes 7.6 meters at 11.34 grams
    per tonne gold and 3.8 meters of 15.32 grams per tonne gold. The second,
    lower intersection is 10.2 meters at 17.92 grams per tonne gold. Due to
    down hole deviation, these intersections are approximately 15 meters
    east-southeast of CAR-016.1. Hole CAR-021 demonstrates that high grade
    mineralization remains open to the east and southeast.

--  Gold mineralization in both holes is accompanied by decalcification of
    limestone host rocks, remobilized carbon, fine pyrite and realgar. The
    high grade zone projects to the east southeast and is open in that
    direction. The nearby Saddle (Premier Gold) and Rain (Newmont Mining
    Corp) deposits, about five kilometers to the south have similar
    orientation. Evolving Gold geologists believe the Arch Zone high grade
    follows a structural corridor along the crest of a pronounced anticline
    in the underlying rocks and that high grades in hole CAR-002 and its
    accompanying wedge holes (approximately 700 meters southeast of CAR-007)
    are related to a similar structure.

            Summary of results from holes CAR-016.2 and CAR-021             
Hole                 From       To   Length          Gold   Length     Gold 
                  (meters) (meters) (meters) (grams/tonne)   (feet) (oz/ton)
CAR-016.2           868.7    870.2      1.5          4.38      4.9    0.128 
                    881.8    883.0      1.2          2.54      3.9    0.074 
                    886.4    887.0      0.6          5.89      2.0    0.172 
                    897.0    898.9      1.9          4.10      6.2    0.120 
                    910.4    912.0      1.6          3.06      5.2    0.089 
                    915.0    916.8      1.8          1.69      5.9    0.049 
                    936.4    945.8      9.4         12.51     30.8    0.365 
including           941.5    944.9      3.4         28.22     11.2    0.824 
CAR-021             880.0    881.5      1.5          4.28      4.9    0.125 
                    895.2    922.9     27.7          4.97     90.9    0.145 
including           895.2    896.7      1.5          8.19      4.9    0.239 
including           898.0    898.6      0.6         26.44      2.0    0.772 
including           909.5    911.1      1.6         10.24      5.2    0.299 
including           915.3    922.9      7.6         11.34     24.9    0.331 
including           915.3    915.9      0.6         29.78      2.0    0.870 
including           917.8    921.6      3.8         15.32     12.5    0.447 
                    952.1    962.3     10.2         17.92     33.5    0.523 

All drill hole averages are weighted averages, weighting each assay interval according to the core length for that interval. All assay intervals are included in the average with no bottom cut off. At this stage of exploration, true widths are not precisely known. Gold assays were completed by Inspectorate America Corporation's lab in Sparks, Nevada, using a 30 gram charge fire assay with ICP finish. Overlimits are completed using a gravimetric finish.

Arch Cross Section: http://www.evolvinggold.com/i/maps/CarlinProject-121113.jpg

In compliance with National Instrument 43-101, Dr. Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.

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 its gold discovery at Rattlesnake Hills, Wyoming.

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

On Behalf of the Board of Directors


R. Bruce Duncan, President, CEO and Director

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).

Contacts: Evolving Gold Corp. Corporate Offices 604.685.6375 or Toll Free: [email protected]@evolvinggold.com

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