Mr. William Gee reports

EVOLVING GOLD: DRILLING INTERSECTS HIGH GRADE GOLD IN NEW GOLD TARGET AT RATTLESNAKE HILLS, WYOMING

Evolving Gold Corp. has provided an update on the 2011 drilling at its Rattlesnake Hills gold property in Wyoming, a joint venture with Agnico-Eagle (USA) Ltd. Core drilling during 2011 has identified high-grade gold mineralization at a new target at South Stock, identified a new porphyry target at Northeast Stock, expanded the North Stock mineralization, and confirmed the porphyry target between North Stock and Antelope basin. Agnico-Eagle is the manager of the Rattlesnake Hills joint venture and is financing 100 per cent of the exploration program.

Summary of results

The 2011 exploration program at Rattlesnake Hills included a total of 8,193 metres (26,880 feet) of core drilling in 24 holes. The results of the final 13 holes of the program are reported herein.

• South Stock target:
  • Exploration drilling has intersected high-grade gold mineralization at the new South Stock gold target in drill hole RSC-180, 3.1 metres of 9.3 grams per tonne gold. This new gold zone is located 500 metres south of the Antelope basin gold zone and is hosted by stockwork adularia-dolomite-sulphide veinlets. Soil and rock chip geochemistry shows gold anomalies over an area larger than at the North Stock gold zone.
• North Stock gold zone:
  • Drilling at the North Stock gold zone has enlarged and confirmed lateral continuity of grade across the known deposit. Drill holes intersections include 102.1 metres of 0.69 g/t Au in RSC-170, 62.5 metres of 1.84 g/t Au in RSC-171 and 42.7 metres of 1.13 g/t Au in RSC-175.
• Northeast Stock target:
  • The first exploration drill tests of the new Northeast Stock target (RSC-172, -173 and -174) intersected intensely altered porphyry stocks that do not outcrop, demonstrating potential for large, hidden, gold-mineralized porphyry bodies.
• Porphyry target:
  • Drill hole RSC-168, in the Porphyry target zone, immediately southeast of North Stock, hosts multiple low- to moderate-grade gold intercepts in diorite and porphyry intrusions, associated with stockwork veinlet and intense potassic alteration.

"The 2011 exploration drilling program has continued to intersect new gold zones and expand on the known gold mineralization at the Rattlesnake Hills project. We are particularly excited to demonstrate high-grade gold at South Stock, a new gold zone drilled for the first time in 2011," commented William Gee, chief executive officer of Evolving Gold. "Surface work shows that South Stock represents a large new zone of essentially untested anomalous gold mineralization, close to the centre of this large gold system. South Stock, Northeast Stock and several additional new drill targets generated by extensive surface sampling in 2011 will be a focus of our 2012 exploration program."

 
                       RATTLESNAKE HILLS PROJECT GOLD ASSAYS

Hole          From         To     Interval            Gold        Interval        Gold
                (m)        (m)          (m)           (g/t)            (ft)    (oz/ton)

RSC-168      259.0      266.7          7.6            2.50            24.9       0.073   
             387.1      406.9         19.8            0.63            64.9       0.018   
             605.0      615.7         10.7            0.41            35.0       0.012   
RSC-169      198.1      254.5         56.4            0.27           185.0       0.008   
RSC-170      126.5      228.6        102.1            0.69           334.9       0.019   
Including    164.6      170.7          6.1            1.06            20.0       0.030   
Including    187.4      192.0          4.6            1.47            15.1       0.043   
Including    202.7      225.6         22.9            1.09            75.1       0.032   
RSC-171      166.1      228.6         62.5            1.84           205.0       0.054   
Including    187.4      227.0         39.6            2.63           129.9       0.077   
Including    195.1      208.8         13.7            6.08            44.9       0.177   
RSC-172      246.8      251.4          4.6            0.24            15.1       0.007   
RSC-173       None                                                                       
RSC-174       None                                                                       
RSC-175      128.0      170.7         42.7            1.13           140.1       0.033   
Including    161.5      163.1          1.6            21.50            5.2       0.625   
RSC-176      284.9      294.1          9.2            0.99            30.2       0.029   
RSC-177      170.7      175.3          4.6            0.32            15.1       0.009   
RSC-178       None                                                                       
RSC-179      202.7      204.2          1.5            0.61             4.9       0.017   
RSC-180      199.6      202.7          3.1            9.30            10.2       0.272   

Notes:
A cut-off grade of 0.24 g/t Au is used for reporting purposes.
All drill hole averages are weighted averages, weighting each assay interval according 
to the core length for that assay interval. All assay intervals are included in the 
average, with no bottom cut-off. True widths of mineralization in these drill holes, 
at this stage of exploration, are not precisely known.

Drill samples were collected with a diamond core drill. Sample intervals are 1.5 metres (five feet), but in some instances sample intervals were based on geology and alteration. Half core was shipped to American Assay Laboratories in Elko, Nev., for preparation and to American's facility in Sparks, Nev., for analysis. Gold assays were determined using standard fire assay techniques on 30-gram pulps with an atomic absorption finish. Agnico-Eagle quality assurance/quality control included the insertion of standards and blanks on a regular basis. Check assays were performed by SGS Minerals Services in Toronto, Ont.

About the Rattlesnake Hills project

Evolving Gold joint ventured its Rattlesnake Hills gold discovery with Agnico-Eagle on June 27, 2011. Approximately 80,000 metres of core drilling in 180 holes have been completed on the property in four seasons of drilling. Agnico-Eagle has the right to earn up to 70-per-cent ownership in the project by spending $76-million on a combination of cash payments to Evolving Gold, purchases of Evolving Gold treasury shares and project work commitments, including the obligation to advance the project through feasibility. In addition to financing the exploration at Rattlesnake Hills, Agnico-Eagle brings mining expertise and capital to the project, allowing Evolving gold to focus on its extensive portfolio of gold properties in Carlin, Nev.

In compliance with National Instrument 43-101, the company chief geologist, Steven R. Koehler, BSc geology, CPG, is the qualified person responsible for the accuracy of this news release.

We seek Safe Harbor.