Evolving Gold Updates Three Active Drill Programs

August 23, 2011, Vancouver, British Columbia: Evolving Gold Corp. (TSX: EVG, OTCQX: EVOGF, FSE: EV7) (the "Company") is pleased to provide an update of its three active drilling programs in northern Nevada and Wyoming. The Company's drill programs include a steady, year-long core drilling campaign at Carlin-Humboldt, a fast-paced reverse circulation drill program at the new Jake Creek discovery, and a fourth summer core drilling program at its Rattlesnake Hills Joint Venture.

At the Company's flagship Carlin-Humboldt properties on the Carlin Trend in north-central Nevada, core drilling is focused on larger step-outs in the vicinity of drill holes CAR-007 (18.3 m grading 11.7 g/t Au), CAR-010 (10.1 m grading 11.09 g/t Au) and CAR-010.1 (14.7 m grading 8.76 g/t Au). These step-outs include core holes CAR-011 and CAR-012 which have recently been completed +100m north and southwest respectively of drill hole CAR-007. Hole CAR-013 is currently being drilled +300m north of hole CAR-002 a wedge hole, CAR-002.3.1 intersected 15.7 m at 5.08 g/t Au. Assays for holes CAR-011 and -012 are expected back in early September.

At Jake Creek near the Getchell Trend in northern Nevada, the Company recently commenced reverse circulation (RC) drilling. To date this season, two holes have been completed and a third is in progress. A total of 20 RC drill holes have been permitted for the summer 2011 program. The "blind" gold discovery at Jake Creek was made in 2010 when the second of two RC holes intersected 28.9m of 1.33 g/t Au. The first two holes drilled this season have encountered altered volcanic rocks similar to those encountered in the original "discovery" hole. Assays from these holes are expected in mid-September.

At Rattlesnake Hills in central Wyoming, two core rigs have completed twelve holes thus far and two holes are in progress. The holes drilled to date include step-outs around the North Stock and Antelope Basin Zones as well as two that test the previously undrilled South Target. The objectives of this season's drilling are to extend and infill gold mineralization at these two partially defined gold zones, to explore between these two zones and to test several new gold targets elsewhere on the property. Assays for the first twelve holes are pending. It is anticipated that drilling will be operational throughout the season, fully funded by the Company's joint venture partner.

"The Company's track record of gold discoveries results from our drill-intensive exploration approach," comments William Gee, CEO of Evolving Gold. "Our geologic teams are well into another busy drill season and we anticipate steady news flow reporting on all three drill programs in the weeks and months ahead."

About Evolving Gold Corp.

Evolving Gold is focused on exploring its gold properties in and adjacent to the productive Carlin district of northern Nevada, and on its gold discovery at Rattlesnake Hills, Wyoming. For more information about Evolving Gold please visit: www.evolvinggold.com

On Behalf of the Board of Directors
EVOLVING GOLD CORP.

"William Gee"
William Gee
CEO and Director

FOR MORE INFORMATION, PLEASE CONTACT:

Investor Relations:
Rory Quinn
Tel: 604.685.6375
TF: 866.604.3864

 

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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