VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2012) - Evolving Gold Corp. (News - Market indicators) (FRANKFURT:EV7) (OTCQX:EVOGF) (the "Company") announces high grade gold intersections in drill holes CAR-016.2 and CAR-021 at its Arch target on the Carlin trend in Nevada. Drill hole CAR-016.2 intersected 9.4 meters at 12.51 grams per tonne gold (30.8 ft at 0.365 opt Au), which includes 3.4 meters at 28.22 grams per tonne gold (11.2 ft at 0.824 opt Au). Drill hole CAR-021 intersected an upper interval of 27.7 meters at 4.97 grams per tonne gold (90.9 ft at 0.145 opt Au) including 7.6 meters at 11.34 grams per tonne gold (24.9 ft at 0.331 opt Au), and a lower interval of 10.2 meters at 17.92 grams per tonne gold (33.5 ft at 0.523 opt Au).

"These results continue to demonstrate that we have identified a significant zone of high grade gold mineralization on our Carlin land holdings in Nevada," comments R. Bruce Duncan, CEO of Evolving Gold. "Our geologists have interpreted a zone of high grade gold mineralization following along the crest of the Arch Zone. We consider the entire crest of the Arch Zone between CAR-007 and CAR-002, a distance of approximately 700 meters, to be highly prospective for additional high grade discoveries and extension of the known high grade, and we believe that the high grade potential is completely open along strike."

• Diamond drill hole CAR-016.2, is a wedge hole off of drill hole CAR-016.1. It contains multiple gold intersections including 9.4 meters at 12.51 grams per tonne gold, including an interval of 3.4 meters at 28.22 grams per tonne. Drill hole CAR-016.2 is approximately 10 meters west of CAR-016.1. It was designed to test the area between CAR-016.1 and CAR-007. CAR-007 was the first hole that intersected high grade gold in the Arch target. Results demonstrate continuity of high grade gold mineralization.

• Diamond drill hole CAR-021, located 45 meters east of CAR-016.2, intersected two high grade gold intervals. The upper interval of 27.7 meters at 4.97 grams per tonne gold includes 7.6 meters at 11.34 grams per tonne gold and 3.8 meters of 15.32 grams per tonne gold. The second, lower intersection is 10.2 meters at 17.92 grams per tonne gold. Due to down hole deviation, these intersections are approximately 15 meters east-southeast of CAR-016.1. Hole CAR-021 demonstrates that high grade mineralization remains open to the east and southeast.

• Gold mineralization in both holes is accompanied by decalcification of limestone host rocks, remobilized carbon, fine pyrite and realgar. The high grade zone projects to the east southeast and is open in that direction. The nearby Saddle (Premier Gold) and Rain (Newmont Mining Corp) deposits, about five kilometers to the south have similar orientation. Evolving Gold geologists believe the Arch Zone high grade follows a structural corridor along the crest of a pronounced anticline in the underlying rocks and that high grades in hole CAR-002 and its accompanying wedge holes (approximately 700 meters southeast of CAR-007) are related to a similar structure.

All drill hole averages are weighted averages, weighting each assay interval according to the core length for that interval. All assay intervals are included in the average with no bottom cut off. At this stage of exploration, true widths are not precisely known. Gold assays were completed by Inspectorate America Corporation's lab in Sparks, Nevada, using a 30 gram charge fire assay with ICP finish. Overlimits are completed using a gravimetric finish.

Arch Cross Section: http://www.evolvinggold.com/i/maps/CarlinProject-121113.jpg

In compliance with National Instrument 43-101, Dr. Quinton Hennigh, Ph.D., P.Geo., 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 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.

R. Bruce Duncan, President, CEO and Director

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).