Evolving Announces Drill Results from Initial Drilling at the Fisher Canyon Gold Prospect, Humboldt Range, Nevada


    VANCOUVER, Feb. 1 /CNW/ - Evolving Gold Corp. (TSX-V:EVG) (OTCBB: EVOGF)
(FSE:EV7) (the "Company") is pleased to announce geological and geochemical
results from an initial phase of reconnaissance drilling on its Fisher Canyon
gold property in NW Nevada. Mineralized drill intervals range up to 25.91
meters grading 0.87 grams per tonne (gpt) gold including 7.62 meters grading
1.66 gpt gold from the reverse circulation drilling progam.
    Evolving's president, Dr. Lawrence Dick, P.Geo. states: "We are pleased
that we have identified gold-mineralized strata on our first, reconnaissance
phase of drilling at Fisher Canyon. Once we have interpreted the new
information, we plan to carry out a more comprehensive drilling program over a
much broader area on the property. These same strata are host to important
gold and silver deposits in the Humboldt Range, and a follow-up drilling
program is clearly warranted."
    The Fisher Canyon property lies on the east side of the Humboldt Range in
a similar geological environment to the Relief Canyon, Florida Canyon,
Rochester, and other gold-silver deposits and prospects which are located
nearby. Evolving acquired the property by staking in 2007 and currently holds
a 100% interest in approximately 1,600 acres of Bureau of Land Management
(BLM) maintained land over 79 unpatented lode mining claims.
    The drilling program was carried out during December 2007, with a total
of 971m drilled in thirteen holes, ranging from 40m to 137m in depth. The
distance from the northern-most to the southern-most hole is approximately
500m. All holes penetrated a sequence of marly shale and basalt and terminated
in a footwall crystalline limestone. Twelve of the thirteen drill holes
encountered gold values ranging from 0.1 to 4.14 gpt over the individual 1.56
meter sample intervals; the anomalous gold values generally associated with
elevated values of arsenic. Gold tenor appears to increase towards the east in
the drill holes, indicating a possible vector for follow-up drilling.

    Significant intercepts are listed below:

    Hole           From (m)       To (m)         Thickness (m)  Au (gpt)
    FC-5           27.43          39.62          12.19          0.50
    Includes       30.48          33.53          3.05           0.64
    Includes       36.58          39.62          3.05           1.04
    FC-6           16.76          48.77          32.0           0.73
    Includes       16.76          42.67          25.91          0.87
    Includes       16.76          24.38          7.62           1.05
    Includes       32.0           39.62          7.62           1.66
    FC-7           9.14           15.24          6.10           0.84
    Includes       10.67          13.72          3.05           1.17

    Further drilling is planned to test other parts of the property where
significant gold anomalies were detected in previous surface sampling, and to
follow an apparent increase in gold tenor towards the east.
    Samples were submitted to the ALS Chemex laboratory in Elko, Nevada, with
standard pulps and blanks inserted for Quality Control purposes at a rate of
about 1:20.

    About Evolving Gold Corp.

    Evolving Gold Corp. is an emerging gold exploration and development
company focused on building value through the acquisition and exploration of
world class prospective gold prospects in the southwestern United States. The
Company is actively exploring 9 separate gold properties, primarily in known,
producing gold trends in the state of Nevada. The Company has recently
completed first rounds of drilling at the Malone (NM) and Fisher Canyon (NV)
gold prospects (assays pending at Malone) and is currently drilling at their
large Sheep Creeks (Carlin District) and Siesta (Sleeper District) gold
prospects which Evolving has acquired by staking in north-central Nevada.
    Evolving recently announced the signing of a definitive agreement to
acquire 100% of the Rattlesnake gold prospect located in Wyoming (see press
release dated January 18, 2008).
    Evolving has entered into an agreement with Newmont Mining Corporation
concerning an exploration partnership on four prospective gold properties
located within the prolific Carlin Gold Trend and have contributed land in the
Sheep Creeks project area (see press release dated December 5, 2007). In
total, Evolving holds over 90,000 acres of exploration lands in Nevada,
Wyoming and New Mexico.
    In compliance with National Instrument 43-101 ("NI 43-101") Lawrence A.
Dick, Ph.D., P.Geo. is the Qualified Person responsible for the accuracy of
this news release.

    For more information visit www.evolvinggold.com.

    On Behalf of the Board of Directors

    Lawrence A. Dick, Ph.D., P.Geo.
    President and Director

    FORWARD LOOKING STATEMENTS: This document includes forward-looking
statements as well as historical information. Forward-looking statements
include, but are not limited to the continued advancement of Evolving's
general business development, research development and/or Evolving's
development of mineral exploration projects. When used in this document, the
words "anticipate", "believe", "estimate", "expect", "intent", "may",
"project", "plan", "should" and similar expressions are intended to be among
the statements that identify forward-looking statements. Although Evolving
Gold Corp. believes that their expectations reflected in these forward looking
statements are reasonable, such statements involve risks and uncertainties and
no assurance can be given that actual results will be consistent with these
forward-looking statement. Important factors that could cause actual results
to differ from these forward-looking statements include the potential that
Evolving's mineral deposit(s), fluctuations in the marketplace for the sale of
minerals, the inability to implement corporate strategies, the ability to
obtain financing and other risks disclosed in our annual report on Form 20F
filed with the U.S. Securities and Exchange Commission and filings made with
the British Columbia Securities Commission.

    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.

For further information:

For further information: Evolving Gold Corp., Robert Bick, CEO,
robert@evolvinggold.com, Direct: (604) 685-6375, Toll Free: 1-866-604-3864,
www.evolvinggold.com; OR Renmark Financial Communications Inc, Christopher
Wells, cwells@renmarkfinancial.com; James Buchanan,
jbuchanan@renmarkfinancial.com, Tel.: (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com; OR Excelsior Communications Inc., Miranda Bradley,
Managing Partner, miranda@excelsiorcommunications.com, Direct (416) 996-0238,

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