EVG Infill Drilling Demonstrates Continuity of Bulk Tonnage Targets at
Rattlesnake Hills, Wyoming

VANCOUVER, Dec. 3 /CNW/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce that assay results from infill drill holes from both North Stock and Antelope Basin further demonstrate continuity of these zones along strike and to depth.

Significant intersections include 121.9 meters at 1.15 gpt Au (400 ft at 0.034 opt) in drill hole RSC-049 and 128.0 meters at 1.09 gpt Au (420 ft at 0.032 opt Au) including 4.9 meters at 10.18 gpt Au (16 ft at 0.297 opt) in drill hole RSC-043.

President and Chief Geologist, Dr. Quinton Hennigh states, "Both North Stock and Antelope Basin continue to generate long intercepts of potential bulk tonnage gold mineralization. We are still awaiting assays for a total of 42 drill holes from the 2009 drill program, which will further define the North Stock and Antelope Basin mineralization."

Rattlesnake Hills is an alkalic gold complex and is similar in geology to the Cripple Creek district in Colorado. At Cripple Creek Anglo Ashanti currently produces approximately 275,000 ounces of gold annually in an open pit, heap leach operation with a recovered grade of approximately 0.49 gpt Au (0.014 opt). More than 20 million ounces of gold has been produced from the Cripple Creek complex from the historic underground mines and the current open pit operations.

North Stock

    
    -   DDH RSC-049 - 121.9 meters at 1.15 gpt Au (400 ft at 0.034 opt).
    -   DDH RSC-043 - 128.0 meters at 1.09 gpt Au (420 ft at 0.032 opt),
        including 4.9 meters at 10.18 gpt (16 ft at 0.297 opt)
    -   Holes RSC-043 and 049 tested gaps in the drilling of the bulk tonnage
        target along the south wall of the North Stock diatreme complex.
    

Antelope Basin

    
    -   DDH RSC-045 - 61.0 meters at 1.02 gpt Au (200 ft at 0.030 opt),
        within a broad mineralized zone of 219.5 meters at 0.65 gpt Au
        (720 ft at 0.019 opt) starting at the top of the drill hole.
    -   DDH RSC-047 - 36.6 meters at 2.05 gpt Au (120 ft at 0.060 opt) within
        a larger zone of 169.2 meters at 0.83 gpt Au (555 ft at 0.24 opt),
        starting at 1.5 m down hole.
    -   DDH RSC-051 - 91.4 meters at 0.88 gpt Au (300 ft 0.026 opt),
        intersecting the Antelope Basin target from the northwest at a
        vertical depth of about 170 meters below surface.
    

Drill holes RSC-040, 044, 048 and 050 tested areas interpreted as being outside the main mineralized zones. Hole RSC-040 penetrated the wall of the diatreme at depths in excess of 400 meters, intersecting only modest gold values including 0.8 meters at 1.82 gpt Au (3.0 ft. at 0.053 opt). Drill holes RSC-044 and RSC-048, encountered a localized late stage breccia at the west end of North Stock and drilled into the wall rock schist without intersecting the primary breccia host for gold mineralization. Hole RSC-044 and RSC-048 intersected 67.1 meters at 0.40 gpt Au (220.0 ft. at 0.012 opt) and 19.8 meters at 0.51 gpt Au (65 ft. at 0.015 opt) respectively. Hole RSC-050, drilled between North Stock and Antelope Basin, encountered several intervals of anomalous gold mineralization (0.1-0.4 gpt) distal to the North Stock and Antelope Basin zones.

General Update for Rattlesnake Hills

The Company completed approximately 29,700 m (97,500 ft) of diamond drilling in 78 holes during the 2009 drill program making major progress in defining the potential and continuity of the high grade and bulk tonnage targets at North Stock and Antelope Basin. It has also identified a gold mineralized porphyry target southeast of North Stock, which is an important exploration target for 2010. Assays from 42 drill holes remain to be received from the laboratory.

During 2009 an extensive field program of rock chip sampling and mapping identified five additional new gold targets at Rattlesnake Hills to be drilled in 2010:

    
    -   Porphyry outcrops in an area with surface gold values up to 0.6 gpt
        Au approximately 600 meters southeast of North Stock, with potential
        for a new, buried, gold porphyry target.
    -   A zone of multiple porphyry dikes and alteration approximately 800
        meters east of North Stock.
    -   New outcrops of diorite, similar to that which hosts gold
        mineralization at Antelope Basin, were identified about 400 meters
        south and southwest of Antelope Basin in an area of surface gold and
        arsenic anomalies.
    -   A zone of surface rock chips in gold and arsenic, approximately 800
        meters long, one kilometer south of Antelope Basin with surface
        values of up to 0.8 gpt Au, similar to surface values at North Stock
        and Antelope Basin.
    -   An area of anomalous gold and arsenic approximately 200 meters west
        of North Stock may represent a continuation of the North Stock
        target.
    

The Company plans to complete an updated NI 43-101 in the second quarter of 2010.

    
    North Stock - Summary Table of Significant Results
    ----------------------------------------------------- -------------------
    Drill Hole       From       To     Interval    Gold    Interval    Gold
                   (meters)  (meters)  (meters)   grams/     (ft)     oz/ton
                                                   tonne
    ----------------------------------------------------- -------------------
    RSC-043           83.8     211.8     128.0      1.09     420.0     0.032
                  --------------------------------------- -------------------
      Includes       161.6     169.2       7.6      2.89      25.0     0.084
                  --------------------------------------- -------------------
      Includes       190.5     195.4       4.9     10.18      16.0     0.297
    ----------------------------------------------------- -------------------
    RSC-049          126.5     248.4     121.9      1.15     400.0     0.034
                  --------------------------------------- -------------------
      Includes       138.7     157.0      18.3      2.54      60.0     0.074
                  --------------------------------------- -------------------
      Includes       214.9     231.7      16.8      2.12      55.0     0.062
    ----------------------------------------------------- -------------------


    Antelope Basin - Summary Table of Significant Results
    ----------------------------------------------------- -------------------
    Drill Hole       From       To     Interval    Gold    Interval    Gold
                   (meters)  (meters)  (meters)   grams/     (ft)     oz/ton
                                                   tonne
    ----------------------------------------------------- -------------------
    RSC-045            0.0     219.5     219.5      0.65     720.0     0.019
                  --------------------------------------- -------------------
      Includes         0.0      61.0      61.0      1.02     200.0     0.030
                  --------------------------------------- -------------------
      Includes        22.9      33.6      10.7      2.15      35.0     0.063
    ----------------------------------------------------- -------------------
    RSC-047            1.5     170.7     169.2      0.83     555.0     0.024
                  --------------------------------------- -------------------
      Includes       132.6     169.2      36.6      2.05     120.0     0.060
    ----------------------------------------------------- -------------------
    RSC-051          196.6     288.0      91.4      0.88     300.0     0.026
                  --------------------------------------- -------------------
      Includes       219.5     227.1       7.6      2.25      25.0     0.066
                  --------------------------------------- -------------------
      Includes       256.0     275.8      19.8      2.18      65.0     0.064
    ----------------------------------------------------- -------------------
    

True widths of mineralization in these drill holes at this stage of exploration are not precisely known. More detailed modeling of the mineralization will be an important part of the technical report to be completed in the second quarter of 2010.

Gold assays were completed by SGS Canada Inc. in Toronto, using a 30 gram charge, fire assay, with an ICP finish. For over limit assay results, initial assays in excess of 10.0 gpt Au, a gravimetric finish is utilized. The Company will undertake a program of metallic screen fire assays once all preliminary assays are received with a focus on the higher grade intervals.

Carlin Update - Drilling Complete, Assays Pending

At the Carlin, Nevada property, the fourth and final hole of the 2009 season, CAR-007, was completed on Dec. 1 at a depth of 1,312 m (4,304 ft). This hole intersected extensively brecciated and silicified sedimentary rock beginning at about 1,100 m (3,600 ft) continuing to its end. Iron, arsenic and antimony sulfides as well as barite are visible over most of this interval. CAR-007 was collared 500 m northwest of the first core hole, CAR-002, in which two anomalous gold zones were encountered (see Sept. 10, 2009 press release).

Drill holes CAR-003 and CAR-004 were completed as offsets, approximately 200 meters from drill hole CAR-002, to depths of 1,130.2 m and 1,030.2 m (3,700 ft and 3,379 ft) respectively. These holes were designed to intersect the upper gold horizon intersected in drill hole CAR-002, in what is interpreted as the Webb Formation. No diamond drilling was undertaken on failed precollars for CAR-001, CAR-005 and CAR-006.

Assays for the final 70 m (230 ft) of CAR-002 have returned gold values ranging from 0.013 to 0.336 gpt Au. These assay results are interpreted as lying below the lower target zone of gold mineralization. Assays are pending for drill holes CAR-003, CAR-004 and CAR-007.

Peter Grandich

The Company has entered into an agreement with Grandich Publications, LLC (Peter Grandich) to provide investor relations and corporate communications services for the Company for a period of one year commencing December 1, 2009. Grandich Publications, LLC will receive a cash fee of US$1,500 per month and 100,000 incentive stock options at an exercise price of $1.25 vested over 12 months.

Peter Grandich is Chief Commentator of Agoracom.com, North America's largest online small-cap investment center where Peter writes a daily online blog at www.grandich.agoracom.com He is the Managing Member of Grandich Publications, LLC which publishes The Grandich Letter (first published in 1984) and provides coverage of the metals and mining industry. Mr. Grandich also provides a variety of corporate finance and development services to publicly-held companies and is a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.

Incentive Stock Options

The Company announces that as part its regular compensation program for directors, officers, employees and consultants that it will distribute 1,530,000 incentive stock options (not including the options granted to Peter Grandich) to directors, officers, employees and consultants of the Company at a price of $1.25. The options have a 5 year term and the vesting schedule is 50% vesting after six months and 50% vesting after 12 months. All option grants are subject to regulatory approval.

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. Evolving Gold has the option to acquire 100% of the Rattlesnake Hills project.

Evolving also has nine other gold properties in New Mexico, Nevada in the United States, and southern Nunavut in Canada. A lease agreement with subsidiaries of Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties) in the prolific Carlin Trend. The Carlin property drilling described earlier in this news release is on one of these four properties.

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.

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.

    
    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

For further information: For further information: Evolving Gold Corp.: Robert Bick, Executive Chairman, robert@evolvinggold.com, Direct: (604) 685-6375, Toll Free: 1-866-604-3864, www.EvolvingGold.com; Investor Relations: Leo Karabelas, First Canadian Capital Corp., Tel: (416) 543-3120, leo@frontlineir.com; Shiro Rae, Senergy Communications Inc., Tel: (778) 331-2095, shiro@senergyir.com; Investors can post questions and receive answers at the Evolving Gold Corp IR Hub at http://www.agoracom.com/IR/evolving

Organization Profile

EVOLVING GOLD CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890