VANCOUVER, June 17 /CNW/ - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce it has initiated drilling on its 100% controlled Humboldt gold project adjacent to its Carlin project in the prolific Carlin Trend of Nevada.
- On May 3, the Company announced acquisition of a major, new, 100%
Evolving Gold controlled land position adjacent to its Carlin Gold
- The recently acquired land, the Humboldt project, totals
approximately 36 square miles (93 square kilometers). The project
lands are entirely outside of the area of interest of an Earn-In
Agreement with subsidiaries of Newmont Mining Corp. The land is
largely private and 100% controlled by Evolving Gold.
- The Company initiated drilling with a 600 m (2,000 ft) precollar
(EHB-001) to test the first of multiple targets defined by a
geophysical program on the Humboldt project land holdings.
- Diamond core drilling will commence once the precollar is completed
and will target mineralization similar to that already encountered in
drilling on the Company's adjacent Carlin property, and at the nearby
Rain mine (Newmont Mining Corp.).
"We are pleased that our initial geophysical data have readily generated multiple drill targets on our new Humboldt project," states Quinton Hennigh, President and Chief Geologist of Evolving Gold Corp. "We believe that the gold system encountered in drilling on the adjacent Carlin project extends onto our newly acquired land controlled 100% by Evolving Gold. Hole EHB-001 lies on line between the Rain deposit and hole CAR-007 where Evolving Gold intersected multiple intervals of high grade gold mineralization."
Robert Barker, CEO, comments, "The start of drilling on our 100% controlled Humboldt project is a major step in Evolving Gold's exploration program in the Carlin Trend. Because much of the land is private minerals, and because Evolving Gold has access agreements for much of the private surface, the Company is in an excellent position for permitting and well insulated from any potential new royalties. Our exploration team has already demonstrated the presence of high grade gold mineralization on our adjacent Carlin project area, and we are confident that the same gold systems extend onto our Humboldt project lands."
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.
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.
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., Investor Relations: Leo Karabelas, Tel: 416-543-3120, firstname.lastname@example.org