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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (40865)	7/31/2009 4:38:46 PM
From: LoneClone	Read Replies (1) \| Respond to of 193482

Evolving Gold Drilling Update Rattlesnake Hills and Carlin Fri Jul 31, 1:10 PM ca.news.finance.yahoo.com VANCOUVER, July 31 /CNW/ - Evolving Gold Corp. (TSXV: EVG.V) (FSE: EV7) (the "Company") is pleased to report on drilling progress at its Rattlesnake Hills property in Wyoming and its Carlin property in the prolific Carlin Trend in Nevada. Rattlesnake Hills 20 core drill holes have been completed in the present season's drill program at Rattlesnake Hills, and a further 4 drill holes are currently underway. The company expects to release additional assay results from the Rattlesnake Hills drilling in the next weeks once results are received and interpreted. The fourth core rig is now drilling on the Rattlesnake Hills property as part of the ongoing exploration program to define the extent of the high grade gold zone and define the boundaries and potential of the larger body of bulk tonnage style halo gold mineralization. Rattlesnake Hills is an alkalic gold system, similar in geology with the Cripple Creek gold district in Colorado. Carlin Property Drilling at the Carlin property has intersected alteration and sulfides in highly favorable host rocks. These rock units are similar to those that host major zones of gold mineralization in the gold deposits in the Carlin Trend. This drilling is designed to test geophysical results that suggest the presence of favorable host rocks of the Carlin Trend that have not been tested previously by drilling. The Carlin property is included as part of an agreement with subsidiary companies of Newmont Mining Corporation. - Drilling has intersected favorable host rocks, visually interpreted as Lower Plate rock units similar to those that host the high grade gold mineralization in the Carlin Trend. - Abundant fine grained pyrite is present in these units at 2,800 - 3,000 feet in the drill hole. - Starting at 3,780 feet and continuing to the current bottom of the drill hole, approximately 4,000 feet, these favorable units are strongly altered (decalcified) and contain abundant arsenic sulfides (realgar and orpiment) and lesser amounts of antimony sulfide (stibnite) in veinlets and along fractures. - Evolving Gold plans to mobilize a second drill rig to the Carlin property, pending discussions with local land owners, local officials and regulators. The Company cautions that these preliminary results are based on visual, field observations. Gold assays are still pending for the drilling at Carlin, with results expected within several weeks. Until such time as assay results are received and released, the observed data should be considered speculative. Evolving Gold has approximately $19 million in its treasury, sufficient funding to continue to aggressively explore the Rattlesnake Hills project and to expand the drilling program at the Carlin property. About Evolving Gold Corp. Evolving Gold is focused on its discovery property - Rattlesnake Hills, Wyoming. Evolving has the option to acquire 100% of the Rattlesnake Hills project. Evolving also has gold properties in New Mexico and Nevada including a lease agreement with subsidiaries of Newmont Mining Corporation on four prospective gold properties (North Carlin District Properties) located within the prolific Carlin Gold Trend (see press release 12/5/2007). In compliance with National Instrument 43-101, Quinton Hennigh, Ph.D., P.Geo., is the Qualified Person responsible for the accuracy of this news release. For more information about Evolving Gold Corp please visit: www.evolvinggold.com. To receive regular updates from EVG or to receive a follow-up call from Investor Relations please sign up at: evolvinggold.com On Behalf of the Board of Directors EVOLVING GOLD CORP. ------------------- Robert Barker CEO and Director FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts PLEASE CONTACT: Evolving Gold Corp. Robert Bick Executive Chairman robert@evolvinggold.com Direct: (604) 685-6375 Toll Free: 1-866-604-3864 www.EvolvingGold.com Investor Relations: First Canadian Capital Corp. Leo Karabelas Tel: (416) 742-5600 ext. 235 lkarabelas@firstcanadiancapital.com Senergy Communications Inc. Shiro Rae Tel: (778) 331-2097 shiro@senergyir.com Investors can post questions and receive answers at the Evolving Gold Corp IR Hub at agoracom.com