VANCOUVER, May 21 /CNW/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce the appointment of R Bruce Duncan to the Board of Directors, effective immediately. This appointment fills the vacancy created by the resignation of Gilles Arseneau, Ph.D. from the Board of Directors, as previously announced on April 22,2010.
Mr. R Bruce Duncan
Mr. R. Bruce Duncan brings to the Evolving Gold Board nearly thirty years experience in the capital market and brokerage industry, including eight years with Gordon Capital Corporation. 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 in public transactions. Mr. Duncan's client base has included financial services, aviation, mining, oil and gas, logistics, and retail industries. Mr. Duncan currently sits on the boards of several private companies and is the President and CEO of Bolero Resources Corp. Mr. Duncan is the former President and CEO of AusPotash Corp., an Australian potash company recently sold. Mr. Duncan has extensive experience advising on corporate takeovers, both friendly and hostile, either by designing and executing effective approaches to acquiring assets or by implementing defensive strategies.
Mr. Duncan joins the Evolving Gold Board as the Company moves into more advanced and intensive exploration programs on its two main properties, Rattlesnake Hills in Wyoming and Carlin in Nevada. Evolving Gold Corp. welcomes Mr. Duncan, and looks forward to the leadership he will provide to the Company and the Board with regard to corporate strategies and merger and acquisition activities.
The Company announces that it has granted 350,000 incentive stock options under the Company's stock option plan to Mr. Duncan exercisable at $0.92 per share for a 5-year period from the date of grant.
About Evolving Gold Corp.
Evolving Gold is exploring its 100 percent owned Rattlesnake Hills project in central Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado. Evolving Gold is also currently drilling on its Carlin project, in the south portion of the Carlin Trend of northern Nevada.
In addition to its wholly owned properties in Nevada, the Company has a lease agreement with subsidiaries of Newmont Mining Corporation on four prospective gold properties (North Carlin District 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 CEO and Director
EVOLVING GOLD CORP.
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., Direct: (604) 685-6375, Toll Free: 1-866-604-3864, www.EvolvingGold.com; Investor Relations: Leo Karabelas, Tel: (416) 543-3120, firstname.lastname@example.org