Evolving Gold Corp Announces Non-Brokered Private Placement of up to $5.12M



    /NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
    UNITED STATES/

    VANCOUVER, June 25 /CNW/ - Evolving Gold Corp. (TSX-V: EVG)
(OTCBB: EVOGF) (the "Company") is pleased to announce that it has negotiated,
subject to regulatory approval, a private placement of up to 12,800,000 units
at a price of $0.40 per Unit, for gross proceeds of up to $5,120,000. Each
Unit will consist of one common share of the Company ("Share") and one half of
a share purchase warrant ("Warrant"). Each whole Warrant will entitle the
holder thereof to purchase one additional Share (a "Warrant Share") of the
Company at a price of $0.60 per Warrant Share for a two year period from the
date of issue (the "Private Placement").
    Finder's fees are being issued in the amount of up to 10% of the proceeds
in cash and up to 7% in finder's warrants. The finder warrant is exercisable
at a price of $0.65 per share exercisable over a two year period from the date
of issue.
    Shares issued pursuant to this Private Placement, as well as any shares
issued pursuant to the exercise of the warrants, are subject to a four-month
hold period from the date of closing.
    Proceeds from the Private Placement will be used to fund the continued
exploration and development of the Company's Malone project in New Mexico and
the Fisher Canyon, Siesta and Alpha Butte projects in Nevada, and for general
working capital purposes.

    About Evolving Gold Corp.
    -------------------------
    Evolving Gold Corp. is a gold exploration and development company working
in the SW United States, in particular Nevada.
    A strong team of experienced, successful geo-scientists and financial
professionals positions Evolving for aggressive acquisition and exploration of
prospective gold properties.

    On Behalf of the Board of Directors
    EVOLVING GOLD CORP.

    "Robert Bick"
    -------------
    Robert Bick
    CEO and Director
    Tel: 604 685 6375 or 1-866-604-3864
    www.EvolvingGold.com

    This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.

    Not For Distribution to U.S. Newswire Services or for Dissemination in
    The United States

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    Webmasters:
    Please update Evolving Gold Corp on your site. We are now listed on the
    TSX-V, symbol EVG.





For further information:

For further information: Evolving Gold Corp., Bill Gillies, Investor
Relations, billthepilot@evolvinggold.com, Direct (604) 639-0432, Toll free
1-866-604-3864; Renmark Financial Communications Inc, Christopher Wells:
cwells@renmarkfinancial.com; Philippe Deserres:
pdeserres@renmarkfinancial.com, Tel.: (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com

Organization Profile

EVOLVING GOLD CORPORATION

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