March 14, 2011, Vancouver, British Columbia: Evolving Gold Corp. (TSX: EVG) (FSE: EV7) (the "Company") is pleased to announce that William (Bill) Gee will succeed Dr. Robert W. Barker as Chief Executive Officer and will join the Board of Directors of the Company, effective April 1, 2011.
The Board of Directors of Evolving Gold Corp. has appointed William (Bill) Gee to the position of Chief Executive Officer and member of the Board of Directors of Evolving Gold Corp., effective April 1, 2011. The current CEO, Dr. Robert W. Barker, will retire from the post of CEO. Dr. Barker will continue as a member of the Board of Directors of Evolving Gold Corp. and will assist as needed to ensure the smooth transfer of the CEO duties to Mr. Gee.
"Bill Gee has been working with Evolving Gold over the last two years, and he was instrumental in the property acquisitions in Nevada that are essential to the success of our exciting exploration programs on the Carlin and Humboldt projects," comments Dr. Quinton Hennigh, President and Chief Geologist. "I look forward to being able to continue working with Bill Gee to implement our gold exploration strategy in Wyoming and Nevada."
"Bill has over thirty years of experience in the minerals business," says R. Stuart (Tookie) Angus, Chairman of Evolving Gold. "He has a strong background in business and corporate development, acquisitions, financial and technical evaluations, and strategic development and investment. Within the current atmosphere of the junior market, Bill's broad experience in business development and strategic planning will be invaluable assets for Evolving Gold going forward. I am extremely pleased to see Bill Gee move to CEO of Evolving Gold, where he will continue to build on the strong foundation put in place by Dr. Barker."
Mr. Gee trained as a geologist, completing his graduate studies with an MS in Geology at the Colorado School of Mines, in Golden, Colorado. He has over thirty years of experience in the minerals industry, having worked with numerous companies, both large and small. He has lived in many countries in Africa and Europe, as well as Australia, providing a unique personal perspective on world-wide opportunities. Mr. Gee worked with Newmont Mining as an Exploration-Acquisitions Analyst, with Harrods Minerals as the Director of Corporate Development, and more recently with Fronteer Development Group, and with NewWest Gold as Vice President of Corporate Development.
Incentive Stock Options:
The Company announces that as part of its long-term incentive and retention program for directors and officers, the Board of Directors of the Company has approved a grant of 500,000 options, exercisable at $0.90 per option. The options granted were priced at the 5-day volume weighted average trading price of the Company's common shares on the TSX Exchange for the five trading days prior to the grant date. The options have a five year term and vest over a period of one year from the grant date.
About Evolving Gold Corp.
Evolving Gold is focused on exploring its gold discovery at Rattlesnake Hills, Wyoming, an alkalic gold system, similar to the Cripple Creek gold district in Colorado, and on four gold properties in and adjacent to the productive Carlin district of northern Nevada, two of which are 100% controlled by Evolving Gold. 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://www.evolvinggold.com/.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
CEO and Director
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