Evolving Gold Corp. Joins OTCQX

NEW YORK -- May 4, 2011 -- OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, today announced that Evolving Gold Corp. (TSX.V: EVG; OTCQX: EVOGF), an exploration company focused on building shareholder value through sound geology and aggressive drilling of its U.S. properties, is now trading on the OTC market's highest tier, OTCQX(r).

Evolving Gold began trading today on the OTC market's prestigious tier, OTCQX International. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcqx.com and www.otcmarkets.com.

"Companies use OTCQX to expand their access to investors, engage them with quality disclosure of their financials, and provide trading transparency to stimulate liquidity," said R. Cromwell Coulson, President and Chief Executive Officer of OTC Markets Group. "We are pleased to welcome Evolving Gold to OTCQX."

Berns & Berns, Counsellors at Law will serve as Evolving Gold's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements.

About Evolving Gold Corp.

Evolving Gold Corp. (TSX.V: EVG; OTCQX: EVOGF) trades in the United States on OTCQX under the symbol "EVOGF". Evolving Gold is an exploration company focused on building shareholder value through sound geology and aggressive drilling of its US exploration properties. The Company is actively 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. For more information about Evolving Gold please visit: www.evolvinggold.com.

About OTC Markets Group Inc.

OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link(tm) platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over $144 billion in dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB(r) (the U.S. reporting company marketplace for development stage companies), and OTC Pink(tm) (the speculative trading marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.

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Media Contact:

Grace Keith, OTC Markets Group Inc., +1 (212) 896-4428,

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at www.sedar.com).
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