/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
VANCOUVER, Nov. 15 /CNW/ - Evolving Gold Corp. (TSX-V:EVG) (OTCBB: EVOGF)
(FSE:EV7) ("Evolving" the "Company") is pleased to announce that Meridian Gold
Corporation ("Meridian") has re-initiated their drilling program at Winnemucca
Mountain, Nevada. Meridian plans to drill approximately 3000 feet in five
holes using a reverse circulation rig as a follow-up to drilling begun on the
property late in 2006. The Winnemucca Mountain gold project was optioned from
Evolving by Meridian in 2005 (refer to Evolving's website www.evolvinggold.com
for details of the joint venture agreement).
Winnemucca Mountain is located in Humboldt County, in northwestern
Nevada. The property, which has excellent road access, is located about 25 km
northwest of Newmont's Lone Tree gold mine (pre-production resource reported
as 4.2 million ounces of gold) and 30 km southeast of the Sleeper gold mine
(1.7 million ounces of gold and 2.3 million ounces of silver produced between
1986 and 1996).
As the Operator of the project, Meridian completed 12 reverse circulation
drill holes, totaling 2278 meters, in early 2007. Meridian's drilling targeted
the epithermal vein system which strikes NE across the large, 2115 hectare
property. Ten of the 12 drill holes intersected the vein system, and although
gold values were consistently anomalous (0.08 to 1.65 grams per ton of gold),
the intersections did not yield the moderate to high-grade intercepts that
occurred in previous drill holes by Santa Fe Mining (refer to earlier news
releases by Evolving Gold on www.evolvinggold.com for past exploration
results). The Meridian holes completed to date have ranged in depth from 320
to 900 feet and were targeted on the area around the historic high-grade Santa
Fe intersection in hole 83 which returned 5 feet (1.52 meters) grading 2.02
ounces (68.6 grams) per ton gold.
The veins intersected in Meridian's drilling are locally up to 9 meters
in true width, and contain epithermal textures typical of other bonanza
systems in the district, including the nearby Sleeper and Sandman deposits.
Additionally, the vein intercepts are anomalous in gold pathfinder elements
including arsenic, antimony, and mercury.
Exploration activity targeting epithermal gold deposits in the Winnemucca
area have increased with recent announcements of positive results at Sandman
by Fronteer Development Group (see Fronteer's November 8, 2007 news release)
and Evolving's recent announcement of plans to carry out a major drilling
effort on their large, 20 kilometer-long Siesta property lying between Sandman
and Sleeper. Both Sandman and Siesta, along with the major Sleeper gold
deposit lie along a roughly N-S trend approximately 15 kilometers west of
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. Currently, active drilling is
being undertaken at the Malone property in New Mexico, the Sheep Creeks
prospect north of Battle Mountain, Nevada, and drilling is set to begin later
in November, 2007 at their Fisher Canyon, followed by Siesta properties.
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 2, 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
EVOLVING GOLD CORP.
Lawrenca 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: email@example.com, Direct (604) 639-0432, Toll free
1-866-604-3864, www.evolvinggold.com OR Renmark Financial Communications Inc,
Christopher Wells: firstname.lastname@example.org, James Buchanan:
email@example.com, Tel.: (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com OR Excelsior Communications Inc., Miranda Bradley,
Managing Partner, firstname.lastname@example.org, Direct (416) 860-2509,