Evolving Gold Corp. Appoints R. Bruce Duncan as CEO

VANCOUVER, Feb. 23, 2012 /PRNewswire/ - Evolving Gold Corp. (TSX: EVG) (FSE: EV7) (the "Company") announces that R. Bruce Duncan will succeed William (Bill) Gee as Chief Executive Officer (CEO) of the Company, effective February 22, 2012.

The Board of Directors of Evolving Gold Corp. has appointed R. Bruce Duncan to the position of Chief Executive Officer (CEO) of Evolving Gold Corp., effective February 22, 2012. Mr. William (Bill) Gee, has stepped down from the Board of Directors of the Company and from the post of CEO to pursue other opportunities in the mining sector. The Board of Directors of the Company thanks Mr. Gee for his loyal and supportive work for the Company and wish him well in his future business activities.

As the new CEO of the Company, Mr. Duncan brings over thirty years of experience in the capital markets and brokerage industry. Mr. Duncan is currently the President of West Oak Capital Partners Inc., which provides strategic advisory services, including identifying and qualifying merger and acquisition candidates and advising on public transactions. Mr. Duncan was instrumental in leading the spinout of the Kiyuk resources from Evolving Gold into Prosperity Goldfields Corp., and has led the pending amalgamation of Prosperity Goldfields Corp. with Smash Minerals Corp. (subject to shareholder approval). Mr. Duncan currently serves as a Board Member for a number of public companies, and he has been a Board Member of Evolving Gold Corp. since May 2010, and was heavily involved in the last financing for the Company. Mr. Duncan has extensive experience advising on corporate takeovers, both friendly and hostile, designing and executing effective approaches to acquiring assets, and implementing defensive strategies.

Mr. Duncan brings a strong understanding of the markets, financing, and corporate mergers and amalgamations. This experience will be extremely valuable to the Company as it moves forward with exploration on its large land position in Nevada, and continues to monitor developments at its Rattlesnake Hills gold project in Wyoming, which was recently joint ventured with Agnico Eagle. He will continue as an executive member of the Board of Directors of the Company.

About Evolving Gold Corp.
Evolving Gold is focused on exploring the 100% controlled Jake Creek Project, the Carlin Project, and the 100% controlled Humboldt Project, all in Nevada. The Rattlesnake Hills gold Project in Wyoming, an alkalic gold system similar to the Cripple Creek gold district in Colorado, was recently joint ventured with Agnico Eagle. Agnico Eagle completed an extensive exploration program at Rattlesnake Hills during the 2011 field season. For more information about Evolving Gold please visit: www.evolvinggold.com. To receive regular updates or to receive a follow-up call from Investor Relations please sign up at: http://evolvinggold.com/sign-up.php.

On Behalf of the Board of Directors
EVOLVING GOLD CORP.

"Robert Barker"
Robert Barker
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