Evolving Gold Signs Third Nevada Drill Contract; Drilling Initiated on Nevada Gold Portfolio


    VANCOUVER, Nov. 7 /CNW/ - Evolving Gold Corp. (TSX-V:EVG) (OTCBB: EVOGF)
(FSE:EV7) (the "Company") is pleased to announce it has signed a third
contract for exploration drilling on their portfolio of southwest U.S. gold
prospects. Evolving has begun drilling on their Sheep Creeks property,
comprising approximately 38,000 acres and situated approximately 35 kilometers
north of the town of Battle Mountain, Nevada. The reverse circulation drilling
has been contracted from WDC Wells and Exploration.
    The Sheep Creeks property is a covered target where gravity and other
data indicate that potentially gold-bearing basement rocks lie at relatively
shallow depths. A total of 11 holes are planned, comprising approximately
15,000 meters of reverse circulation drilling in total.
    A second reverse circulation drilling program, to be carried out by
Diversified Drilling, is set to begin later this month at the Company's Fisher
Canyon project, located in the Humboldt Range, also in north-central Nevada.
    Drilling at Fisher Canyon will be followed by a much larger drill program
at the Company's Siesta gold prospect, covering approximately 18 kilometers of
strike length between the past-producing Sleeper gold deposit and Fronteer
Development's (formerly New West Gold) Sandman discoveries.
    Meanwhile, a third drill is carrying out diamond drill testing of the
Company's Malone gold-silver prospect located near the Tyrone porphyry copper
deposit in New Mexico.
    Evolving Gold currently holds 12 gold projects, totaling over 100,000
acres, mainly located in the gold-bearing trends of north-central Nevada and
has planned and budgeted for drill testing of all of the projects in its
expanding portfolio.

    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 12 separate gold properties, primarily in known,
producing gold trends in the state of Nevada.
    Evolving recently signed an LOI to enter into an agreement with Newmont
Mining Corporation concerning an exploration partnership on four prospective
gold properties located within the prolific Carlin Gold Trend (see press
release dated October 2nd, 2007). In total, Evolving holds over 100,000 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"
    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, Chief
Executive Officer: robert@evolvinggold.com, Direct (604) 639-0432, 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) 860-2509,

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