Eaton Vance Short Duration (EVG)

[basserdan]

Evolving Gold Closes Second Tranche of Prosperity Goldfields Shares Sale

VANCOUVER, April 25, 2012 /CNW/ - Evolving Gold Corp. (TSX: EVG, OTCQX: EVOGF, FSE: EV7) ("Evolving Gold" or the "Company") is pleased to announce it has closed the final tranche of the sale of a portion of its interest in Prosperity Goldfields Corp. ("Prosperity") previously announced on February 27th, 2012. This second tranche provides proceeds of approximately $1,200,000 to the Company.

The aggregate proceeds of approximately $4,000,000 from the sale of a portion of the Company's holdings in Prosperity Goldfields Corp. will be used to advance exploration work on the Company's Nevada projects and for general working capital.

Following the sale, Evolving Gold continues to hold approximately 3,975,000 common shares of Prosperity and 1,667,000 warrants, each warrant exercisable to acquire one common share of Prosperity at a price of $0.25 until November 5th, 2012.

R. Bruce Duncan, CEO of the Company, stated "We are pleased to conclude the sale of this portion of our holdings in Prosperity. The sale will allow us to advance robust, fully funded drilling programs at our Carlin, Humboldt and Jake Creek gold projects in Nevada, while still enabling the Company's continued participation in the upside of Prosperity through the balance of our share holdings."

About Evolving Gold Corp.

Evolving Gold is a well-financed gold exploration company, with a focus on large scale gold systems. Its exploration program in Nevada is focused on its extensive portfolio of property holdings that lies within and adjacent to the prolific Carlin Trend gold district in the northern part of the state. Evolving Gold is also actively advancing its gold discovery at Rattlesnake Hills, Wyoming. The Rattlesnake Hills project is now in the second year of a $76 million joint venture with Agnico Eagle Mines (USA). For more information about Evolving Gold and its exploration projects please visit: http://www.evolvinggold.com

On Behalf of the Board of Directors
EVOLVING GOLD CORP.
"R. Bruce Duncan"
R. Bruce Duncan
CEO and Director

Investor Relations:
Rory Quinn
Tel: [phone] Ext: 1
TF: 866.604.3864
[e-mail]

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