Evolving Reports on Exploration Progress in SW United States Gold Projects


    VANCOUVER, March 4 /CNW/ - Evolving Gold Corp. (TSX-V:EVG) (OTCBB: EVOGF)
(FSE:EV7) (the "Company") is pleased to report on exploration progress at its
Sheep Creeks, Malone, Boulder Valley and Siesta properties in the SW U.S.
Sheep Creeks and Boulder Valley are situated in the prolific Carlin Gold Trend
in North-Central Nevada while Siesta is a large land-holding staked by the
Company between the Sleeper gold deposit and the Sandman deposits to the
south. Malone is situated in SE New Mexico.


    Drilling at the Malone prospect in SE New Mexico has been completed and
results returned from the laboratory. Unlike the sediment and volcanic-hosted
prospects in Nevada, Malone is hosted in much older basement crystalline rocks
and exhibits stock-work, vein-hosted, and disseminated mineralization. The
property, which measures 4 kilometers long N-S and 1.8 kilometers wide E-W is
situated in Grant County, New Mexico.
    At Malone, a highly leucocratic Pre-Cambrian granitoid basement has been
the focus of historic gold mining on a small scale, dating back to 1884.
Evolving completed 10 diamond holes totaling 840 meters, mainly angle holes
while two were vertical. The total strike length drilled was approximately
1000 meters, the shallow holes varying from approximately 30 to 181 meters

    Zone             Hole ID  From (m)   To (m) Width (m)  Au (gpt)  Ag (gpt)
    Patanke Zone      MAL-01    52.73    55.78      3.05    1.84(*)  41.27(*)
                   including    54.86    55.78      0.91    5.19(*)    109(*)
                                80.16    81.99      1.83    0.57(*)   2.72(*)
                               128.92   130.14      1.22    0.66(*)  42.65(*)
                      MAL-02    54.86    56.39      1.52    0.49(*)  45.95(*)
                                62.48    66.14      3.66    0.79(*)  32.86(*)
                                82.29    83.82      1.52    0.99(*)   0.72(*)
                      MAL-03    68.58    70.10      1.52    0.57(*)   0.69(*)
                               102.10   103.63      1.52    0.59(*)   3.42(*)
     Target           MAL-04     4.57    41.15     36.57       0.3     35.65
                   including    12.80    13.41      0.61      1.83       241
                                24.38    25.91      1.52      2.16       214
                                30.48    31.39      0.91      0.74       142
                               108.20   110.03      1.83      0.58        25
     Target           MAL-05    56.39    57.91      1.52      0.77         5
                      MAL-06     6.71    31.39     24.69       0.6     56.15
                   including     8.53     9.45      0.91      6.62       833
                                25.91    26.82      0.91      2.07       179
                      MAL-07     4.57    17.37     12.80      0.58     57.21
                   including     5.49     6.40      0.91       2.2       291
                                14.63    15.54      0.91       1.3        82
                                23.77    24.69      0.92      0.92        43
                      MAL-08    18.90    21.64      2.74      0.61     17.33
                      MAL-09    18.29    20.12      1.83      0.54      20.5
                                23.77    29.26      5.49      0.38      19.5
    Middle            MAL-10    46.33    47.24      0.91      0.75        24
     Stockwork Zone             59.13    60.96      1.83      0.66        43

    Holes 6 and 7 in the "Canyon Target" returned the highest grade
intervals. Hole 6 includes 24.69 meters grading 0.60 gpt gold and 56.15 gpt
silver. This interval contains higher grade mineralization grading 6.62 gpt
gold and 833 gpt silver over just under one meter width. Hole 7 contains 12.80
meters grading 0.58 gpt gold and 57.21 gpt silver, including an interval just
under one meter width which grades 2.2 gpt gold and 291 gpt silver.
    More drilling is warranted at Malone to more clearly define the
dimensions of this near surface gold-silver mineralization and to determine
the true width of the mineralization.
    The Company's "Geological Report on the Malone Property" as prepared by
Gerald E. Ray Ph.D. dated February 20, 2007, may be viewed at www.sedar.com.

    Sheep Creeks

    At Sheep Creeks, the Company has drilled one reverse circulation and two
diamond drill holes. The second diamond drill hole (RCC-002) is nearing
completion at approximately 1,700 feet total depth. A complete description of
the stratigraphy of the hole was presented in a recent press release
(February 28, 2008). Once this hole is completed, three additional diamond
drill holes will be completed across an approximately NE-SW line of holes
spaced approximately 150 meters apart. Strong alteration and sulphidization is
still apparent at the bottom of the hole. The next hole, RCC-003, will be
collared approximately 120 meters E of RCC-001. Two drill rigs have been
utilized at Sheep Creeks, one to pre-collar the holes to the bottom of the
Miocene volcanic rocks, and a second, diamond drill for drilling through the
altered, sedimentary rocks which underlie the volcanic sequence. Geochemical
results have been returned from the first hole, a reverse circulation hole,
and can be referenced in an earlier press release.
    Photographs of drill core from the Company's third Sheep Creeks hole can
be viewed on the Company's web site at

    Boulder Valley, Carlin, Cottonwood

    These three properties fall under the exploration lease and sub-lease
agreement with Newmont Mining Corporation as previously announced. On Boulder
Valley, a second reverse circulation hole is in progress. The first hole
reached a total depth of 510 meters, penetrating approximately 350 meters of
overburden before entering Paleozoic sedimentary strata. The property lies
adjacent to the Goldstrike deposit, on the western side of the Tuscarora Arch.
A total of six holes are planned as a first phase, at which point the drill
will be moved to two other Carlin trend properties, named Carlin and
Cottonwood Creek, where similar reverse circulation drill programs will be
carried out as an initial phase. Assays are pending.


    Two reverse circulation drills are currently drilling at Siesta, testing
geophysical anomalies in the largely sand-covered property. A total of
approximately 30 holes have been planned during the first phase. No
geochemical results have been received so far.
    Company President Lawrence Dick, Ph.D., P.Geo. states: " Our exploration
program in the U.S. is drill intensive, with initial programs finished at
Fisher Canyon and Malone, and three additional programs on-going at Siesta,
Bolder Valley, and Sheep Creeks. We expect an abundance of assay results as
our drill programs progress. Once we have finished first rounds of drilling on
the Carlin trend we will be moving to Wyoming where we have planned an
exciting diamond drilling program on the Rattlesnake project where earlier
drill results by others have returned near-surface gold mineralization. As
well, while we are awaiting assays from Sheep Creeks, the magnitude of the
alteration and sulphide mineralization there will likely warrant a much
expanded drilling program."

    Incentive Stock Options

    The Company announces today that it will distribute 3,000,000 incentive
stock options to directors, officers, employees and consultants of the Company
at a price of $1.70. These options will have a 5 year term and are subject to
regulatory approval.

    Winnemucca Mountain

    The Company has advised Golden Sands Exploration Inc. and AHL Holdings
Ltd. that the Company has terminated the Winnemucca Property Amended and
Restated Option and Royalty Agreement originally dated December 3, 2004
(announced December 6, 2004), located in Humboldt County, Nevada.

    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
prospective gold deposits 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
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 (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.

    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, Tel: (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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