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Evolving Gold Expands the Epithermal Gold System at the Jake Creek Project, Nevada

VANCOUVER, Feb. 24, 2012 /PRNewswire/ - Evolving Gold Corp. (TSX: EVG.TO - News) (OTCQX: EVOGF.PK - News) (FSE: EV7.F - News) (the "Company") is pleased to announce that the 2011 drill program at its 100% owned Jake Creek gold property in Nevada expanded the size of the gold system. Intersections included 39.6m of 0.873 g/t Au, and 19.8m of 0.676 g/t Au, including 1.5m of 3.1 g/t Au.

Summary of Results:

The 2011 Jake Creek reverse-circulation (RC) drilling program included 3,580.8 meters of drilling in eleven holes. The eleven holes stepped outward to the west and east from drill hole JC-005, a 2010 drill hole that intersected 28.9m of 1.33 g/t gold and included a 1.5m interval of 11.3 g/t gold from 236.2 - 237.7 meters (release November 18, 2010). Results of the eleven-hole program are as follows:

•Drill-hole intersections include: 39.6m of 0.873 g/t gold in JC-002, 19.8m of 0.676 g/t gold in JC-006, 1.5m of 3.1 g/t gold within 16.7m of 0.605 g/t gold in JC-013.

•Drilling successfully outlined an epithermal, volcanic-hosted gold system containing sub-horizontal and laterally extensive low-grade gold mineralization. Gold mineralization includes locally banded epithermal veins and gold in quartz-stockwork zones up to 11.3 g/t.

•Drilling indicates that the gold system exceeds 550 meters wide east-west and remains open to the north, south and east.
•JC-013, the most easterly drill hole, confirmed the presence of multiple zones of epithermal veins with banded quartz and sooty pyrite, as well as sulfidized basalt dikes.

•Gold mineralization is hosted in bleached, clay altered and silicified tuff above Paleozoic siliciclastic rocks. Gold-bearing zones contain elevated concentrations of arsenic, selenium, antimony, mercury and silver, typical of other well-documented epithermal, volcanic-hosted gold systems.

"We are excited to have identified another large, blind gold system in Nevada, between the large Twin Creeks and Getchell deposits to the west, and the Midas district to the east," says Steve Koehler, Chief Geologist for the Company. "We have just begun to explore this exciting system. The strong alteration, multiple zones of epithermal, banded quartz and sooty pyrite veins, along with extensive gold mineralization is all very encouraging in a system which remains wide open for expansion. We believe the Jake Creek gold target has great potential and look forward to further drilling on this project."

Jake Creek 2011 Drill Hole Results

Drill Hole   TD  Az/Inc Interval  Grade g/t  Depth (m)   Interval Grade   Depth (ft) 
            (ft)           (m)       Au                   (ft)    oz/t Au 
 JC-002*    1020 270/-60  39.6     0.873     256.1-295.7  120      0.027   850-970 
 JC-003*    1300 033/-60  1.5      0.393     309.4-310.9  5        0.011   1015-1020 
 JC-004     765  090/-60  4.6      0.319     227.1-231.7  15       0.009   745-760 
 JC-006*    1030 090/-60  19.8     0.676     221.0-240.8  65       0.020   725-790 
                          3.1      0.620     271.3-274.4  10       0.018   890-900 
 JC-007     800  090/-60  3.1      0.351     207.2-210.3  10       0.010   680-690 
 JC-008     1100 090/-60  12.2     0.412     250.0-262.2  40       0.012   820-860 
                          12.2     0.930     268.2-280.4  40       0.027   880-920 
 JC-009     1230 059/-65  1.5      0.373     185.9-187.4  5        0.011   610-615 
 JC-010     1200 100/-45  3.1      0.412     283.5-286.6  10       0.012   930-940 
 JC-011     880  095/-50  1.5      0.618     160.0-161.5  5        0.018   525-530 
                          7.6      0.550     181.4-189.0  25       0.016   595-620 
 JC-012     1040 065/-65  6.1      0.344     161.6-167.7  20       0.010   530-550 
                          6.1      0.371     172.3-178.4  20       0.011   565-585 
 JC-013     1380 090/-60  16.7     0.605     321.6-338.3  55       0.018   1055-1110 
 Includes                 1.5      3.10      323.1-324.6  5        0.090   1060-1065 
                          1.5      0.351                  5        0.010   1130-1135

*Holes released November 21, 2011. Primary drill composites were calculated using a 0.300 g/t gold cutoff, with variable higher cutoffs for the sub-intervals. True thicknesses at this stage of exploration are not precisely known.

Evolving Gold's 2012 exploration plans include airborne geophysics, geologic mapping, geochemical sampling, and additional reverse circulation (RC) drilling.

Drill samples are 1.5 meters and were collected with a reverse-circulation drill. Samples were shipped to SGS Minerals Services in Elko, Nevada for preparation and to SGS' lab in Toronto, Ontario for analysis. Gold results were determined using standard fire assay techniques on 30-gram pulps with an ICP finish. QA/QC included the insertion of standards, blanks and field duplicates on a regular basis.

In compliance with National Instrument 43-101, Company Chief Geologist, Steven R. Koehler, BSc Geology and CPG, is the Qualified Person responsible for the accuracy of this news release.

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 advancing its gold discovery at Rattlesnake Hills, Wyoming.

For more information about Evolving Gold please visit: http://www.evolvinggold.com

On Behalf of the Board of Directors

EVOLVING GOLD CORP.
R. Bruce Duncan
Director and CEO

Image with caption: "Evolving Gold Corp. Jake Creek 2011 Drill Results (CNW Group/Evolving Gold Corporation)". Image available at: http://photos.newswire.ca/images/download/20120224_C7113_PHOTO_EN_10412.jpg

For further information:

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

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