Evolving Gold Reports Additional Gold Intersections from Rattlesnake Hills

Oct 07, 2010, 12:50 ET from Evolving Gold Corporation

      118.9 Meters at 1.36 gpt Au, Including 38.1 Meters at 2.85 gpt Au
       89.6 Meters at 1.46 gpt Au, Including 21.3 Meters at 3.66 gpt Au

VANCOUVER, Oct. 7 /PRNewswire-FirstCall/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") announces additional assay results from its 2010 core drilling program at its Rattlesnake Hills project in central Wyoming. Drill hole RSC-122 intersected 118.9 meters at 1.36 gpt Au, including 38.1 meters at 2.85 gpt Au. Drill hole RSC-123 intersected 89.6 meters at 1.46 gpt Au, including 38.1 meters at 2.56 gpt Au and 21.3 meters at 3.66 gpt Au. Both of these drill holes are from the North Stock zone.

Summary of Results:

    -   Drill hole RSC-122 intersected 118.9 meters at 1.36 gpt Au (390 ft at
        0.040 opt Au). This included 38.1 meters at 2.85 gpt Au (125 ft at
        0.83 opt Au), which also included two shorter intervals of 9.1 meters
        at 5.39 gpt Au (30 ft at 0.157 opt Au) and 7.6 meters at 4.63 gpt Au
        (25 ft at 0.135 opt Au).

    -   Drill hole RSC-123 intersected 89.6 meters at 1.46 gpt Au (285 ft at
        0.042 opt Au), including 38.1 meters at 2.56 gpt Au (125 ft at 0.074
        opt Au) and 21.3 meters at 3.66 gpt Au (70 ft at 0.106 opt Au)

    -   Both RSC-122 and RSC-123 tested the southwestern extension of the
        core of the North Stock zone of gold mineralization following up on
        drilling in late 2009.

    -   Drilling at Antelope Basin has expanded that zone of gold
        mineralization to both the northeast and southwest.

    -   Three deeper drill holes, RSC-111, RSC-113, and RSC-118 confirm the
        exploration potential for porphyry style gold mineralization at depth
        in the North Stock zone. These drill holes intersected broad zones of
        intermittent gold mineralization associated with numerous porphyry
        dikes similar to those encountered in nearby drill holes in 2009.

Mineralized Intervals, Rattlesnake Hills Drilling:

Southwest Extension, North Stock Zone

    ---------------------------------------------------- --------------------
                 From       To    Interval     Gold       Length      Gold
    Drill Hole  (meters) (meters) (meters)  grams/tonne   (feet)   ounces/ton
    ---------------------------------------------------- --------------------
     RSC-122      109.7    228.6    118.9      1.36         390       0.040
                ---------------------------------------- --------------------
     Includes     166.1    204.2     38.1      2.85         125       0.083
                ---------------------------------------- --------------------
     Includes     166.1    175.3      9.1      5.39          30       0.157
                ---------------------------------------- --------------------
     Includes     195.1    202.7      7.6      4.63          25       0.135
                ---------------------------------------- --------------------
                  272.8    278.9      6.1      0.73          20       0.021
                ---------------------------------------- --------------------
                  303.3    313.3     10.1      0.50          33       0.015
                ---------------------------------------- --------------------
     RSC-123       83.8    170.7     86.9      1.46         285       0.042
                ---------------------------------------- --------------------
     Includes      97.5    135.6     38.1      2.56         125       0.074
                ---------------------------------------- --------------------
     Includes     108.2    129.5     21.3      3.66          70       0.106
    ---------------------------------------------------- --------------------

East North Stock and Deep Porphyry Target Zone

    ---------------------------------------------------- --------------------
                 From       To    Interval     Gold       Length      Gold
    Drill Hole  (meters) (meters) (meters)  grams/tonne   (feet)   ounces/ton
    ---------------------------------------------------- --------------------
     RSC-111      143.3    160.0     16.8      0.73          55       0.021
                ---------------------------------------- --------------------
                  207.3    225.6     18.3      1.31          60       0.038
                ---------------------------------------- --------------------
     Includes     211.8    219.5      7.6      2.53          25       0.074
                ---------------------------------------- --------------------
                  246.9    256.0      9.1      0.61          30       0.018
                ---------------------------------------- --------------------
                  333.8    345.9     12.2      0.94          40       0.027
                ---------------------------------------- --------------------
                  394.7    414.5     19.8      0.92          65       0.027
                ---------------------------------------- --------------------
     Includes     403.9    406.9      3.0      4.74          10       0.138
                ---------------------------------------- --------------------
     **         495.3    740.7    245.4      0.30         805       0.009
                ---------------------------------------- --------------------
     Includes     664.5    672.1      7.6      1.07          25       0.031
                ---------------------------------------- --------------------
     RSC-113       50.3     82.3     32.0      0.48         105       0.014
                ---------------------------------------- --------------------
                  204.2    228.6     24.4      1.01          80       0.029
                ---------------------------------------- --------------------
                  234.7    245.4     10.7      0.46          35       0.013
                ---------------------------------------- --------------------
                  262.1    274.3     12.2      0.52          40       0.015
                ---------------------------------------- --------------------
                  324.6    338.3     13.7      1.01          45       0.029
                ---------------------------------------- --------------------
     **         435.9    632.5    196.6      0.41         645       0.012
                ---------------------------------------- --------------------
     Includes     490.7    542.5     51.8      1.01         170       0.029
                ---------------------------------------- --------------------
     includes     502.9    509.0      6.1      2.00          20       0.058
                ---------------------------------------- --------------------
     includes     533.4    539.5      6.1      2.14          20       0.062
                ---------------------------------------- --------------------
     includes     580.6    585.2      4.6      2.23          15       0.065
                ---------------------------------------- --------------------
     includes     608.1    632.5     24.4      0.41          80       0.012
                ---------------------------------------- --------------------
     RSC-118      234.7    271.3     36.6      0.88         120       0.026
                ---------------------------------------- --------------------
     includes     248.4    271.3     22.9      1.25          75       0.036
                ---------------------------------------- --------------------
     includes     248.4    254.5      6.1      2.38          20       0.069
    ---------------------------------------------------- --------------------
    ** These intervals are broad zones of gold mineralization associated
    with porphyry dikes. Lower grade intervals are included in the averages
    for these intervals.

Antelope Basin Step Out Drilling

    ---------------------------------------------------- --------------------
                 From       To    Interval     Gold       Length      Gold
    Drill Hole  (meters) (meters) (meters)  grams/tonne   (feet)   ounces/ton
    ---------------------------------------------------- --------------------
    RSC-108       173.7    189.0     15.2      0.65          50       0.019
                ---------------------------------------- --------------------
    RSC-109       160.0    205.7     45.7      0.69         150       0.020
                ---------------------------------------- --------------------
    Includes      175.3    182.9      7.6      1.78          25       0.052
                ---------------------------------------- --------------------
    RSC-112       120.4    157.0     36.6      0.33         120       0.010
                ---------------------------------------- --------------------
    RSC-114       202.7    236.2     33.5      0.66         110       0.019
                ---------------------------------------- --------------------
    Includes      221.0    224.0      3.0      2.71          10       0.079
                ---------------------------------------- --------------------
                  254.5    266.7     12.2      0.64          40       0.019
    ---------------------------------------------------- --------------------

"We are pleased to see solid grades continue in the southwestern extension of the North Stock zone of gold mineralization at Rattlesnake Hills," says Quinton Hennigh, President and Chief Geologist. "These results confirm the presence of a consistent core of higher grade gold mineralization in this portion of the North Stock system. Expansion of Antelope Basin is also encouraging. In the deeper drill holes we continue to encounter numerous porphyry dikes, starting at depths of about 400 meters. These intersections of porphyry provide strong evidence that we may be close to a larger, potentially mineralized intrusion. Results from these drill holes will help us design our exploration program for porphyry mineralization southeast of North Stock."

Drill holes RSC-115, RSC-116, and RSC-117 were drilled on exploration targets several hundred meters southwest of Antelope Basin. Drill hole RSC-110 tested an exploration target south of North Stock. These four drill holes intersected intervals of anomalous gold. Assays are still pending for drill holes RSC-119, RSC-120, and RSC-121.

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. Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish.

General Update on the Rattlesnake Hills 2010 Drill Program:

The 2010 drill program was expanded from the planned 20,000 meters to approximately 25,000 meters late in the season, due to continued positive results from step out drilling at both North Stock and Antelope Basin. Drilling is expected to be completed by the middle of October, with approximately 62 drill holes completed. Assay returns from the laboratory have been much slower than expected. This is due largely to increased demand for assays at the laboratory, due in turn to increased gold exploration activity. Final sampling of all core from the 2010 drill season at Rattlesnake Hills will be completed by the middle of November. Additional assay results are expected over the next three to four months.

General Update on Nevada Drill Programs:

Humboldt and Carlin Projects: Evolving Gold completed drill hole EHB-002 in late September on its 100 percent controlled Humboldt project adjacent to its Carlin project on the south end of the Carlin Trend in northeastern Nevada. This drill hole reached its targeted depth of 1,280 meters (4,200 ft). The stratigraphy encountered in EHB-002 is interpreted as being consistent with that encountered in the CAR drill holes approximately 4.8 kilometers (3.0 miles) to the northeast on the Carlin Project, where CAR-007 encountered 18.3 meters at 11.7 gpt Au (60 ft at 0.34 opt Au). Units in EHB-002 are consistent with Lower Plate carbonate rocks that host gold mineralization elsewhere along the Carlin Trend. Drilling continues on the Carlin Project in drill hole EVGQ-001 south of highway I-80. This hole is expected to reach a depth of 1,280 meters (4,200 ft). Assays are pending on EHB-002 and EVGQ-001.

Jake Creek Project: Two reverse circulation drill holes were completed at the Jake Creek property in Northern Nevada, located east of Twin Creeks mine. This property is 100 percent controlled by Evolving Gold. Both drill holes drilled through alluvium and volcanic units and intersected underlying Paleozoic sedimentary units. JC-001 intersected alteration and sulfide mineralization in the volcanic sequence before intersecting altered Paleozoic units at approximately 550 meters (1,800 ft). JC-005, located approximately 2.4 kilometers (1.5 mi) northeast of JC-001, intersected Paleozoic rocks at 253 meters (830 ft). Strong alteration and sulfide mineralization were encountered from about 120 meters (400 ft) to the bottom of the hole at 500 meters (1,640 ft). Assays are pending on both drill holes.

Boulder Valley Project: A reverse circulation drill hole, BE-10-001, was drilled on the Boulder Valley project area in the Carlin Trend of Nevada at the end of September. The drill hole is located approximately 2.6 kilometers (1.6 mi) southwest of the Post-Betze open pit mine. It reached a depth of 402 meters (1,319 ft) and was cased to that depth. The drill hole will be continued by core drilling to a targeted depth of 1,067 meters (3,500 ft). The Boulder Valley and Carlin projects are subject to an agreement with subsidiaries of Newmont Mining Corporation. Assays are pending.

About Evolving Gold Corp.

Evolving Gold is focused on exploring its significant discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado, and on gold properties in and adjacent to the productive Carlin district of northern Nevada. In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release.

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
    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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Evolving Gold Corporation