News Release

December 2nd, 2019, Vancouver, British Columbia: Evolving Gold Corp. (CSE: EVG) (FSE: EV7) (OTCB: EVOGF) (the “Company” or “EVG”) announces that in October 2019 it borrowed the sum of $60,000 from JMM Trading LP (the “Lender”) for purposes of financing its audited financial statements for the fiscal year ended March 31st, 2019 and the costs associated with obtaining revocation orders to the previously outstanding cease trade orders issued by the BCSC and OSC.

The loan is unsecured, bears interest at the rate of 10% per annum, and matures in 12 months.

The Company has now agreed that:

(i)     the loan will be convertible to common shares of the Company (“Shares”) at the lesser of $0.075 per Share or such price the Company has then most recently issued Shares on a private or public basis (subject to a minimum $0.05 per Share);

(ii)    the loan may be prepaid, provided a full 12 months of interest is paid; and

(iii)   the Company will issue 500,000 bonus Shares to the Lender.


EVG continues to seek new business opportunities.

On behalf of the Board of Directors


R. Bruce Duncan

President, CEO and Director

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

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
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