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Evolving Gold’s drill-intensive approach delivers results

www.evolvinggold.com  •  604.630.0792

Evolving Gold’s joint venture agreement with Agnico-Eagle in 2011 has brought significant resources to Evolving’s Rattlesnake Hills discovery in Wyoming. Describing it as a “highly strategic” move CEO Bill Gee says the joint venture allows Evolving to focus most of its efforts and all of its capital on exploring its Carlin-Humboldt project in Nevada. Situated firmly on the Carlin Trend, the project has produced high-grade results in recent drill campaigns. “Evolving Gold (TSX:EVG) has a large land position in the prolific Carlin Trend, including 24 gold targets and a gold discovery with thick high-grade gold intersects. Our mineralization is ideally suited to the processing facilities being operated by majors on the Trend,” says Gee. He discusses the two projects’ progress and key reasons to invest in the company.

(Note: Evolving Gold has accomplished some important milestones since this interview in March 2012. The company sold shares of a Newco, Prosperity Goldfields, which netted approximately $4 million in proceeds with no dilution to Evolving Gold. The company also announced 2012 exploration targets on its Carlin, Humboldt and Jake Creek targets, totally $5 million (fully funded).  In addition the company announced new gold targets at Rattlesnake Hills, which could net additional upside on the project. Get the details at http://www.evolvinggold.com/.)

Resource Intelligence: One big news item from Evolving Gold last year was your joint venture with Agnico-Eagle. How strategic was that move for you and what impact has it had on Evolving Gold and your Rattlesnake Hills project?

William (Bill) Gee, CEO and Director

Bill Gee: It was a highly strategic move for us.  It allowed us to bring significant resources to the Rattlesnake Hills project through Agnico’s work and capital commitments while allowing us to focus most of our efforts and all of our capital on our drill-intensive approach to exploring our Carlin, Nevada gold discovery proximal to Newmont’s 30-million-ounce Gold Quarry mine.

RI: What progress have you had on the projects in terms of drilling over the past year? Could you share some of the highlights of your findings
so far?

BG: Drilling at Carlin has demonstrated thick, high-grade gold intercepts: 18.3m of 11.7g/t Au, 10.1m of 11.1g/t Au and 14.7m of 8.8g/t Au.
Drilling at Rattlesnake Hills has expanded the main deposits and discovered new gold zones. At the North Stock deposit, drilling has shown vertical continuity below 300-meters where Drill hole RSC-160 intersected 282.9m of 1.08g/t Au including 39.6m of 2.57g/t Au. Drilling also encountered a broad area of gold mineralization between the North Stock and Antelope Basin deposits. Connecting the two deposits could greatly increase the robust nature of the project.  Drill hole RSC-167 cut 62.5m of 0.51g/t Au 200m south of the North Stock deposit and 300m north of the Antelope Basin deposit. This mineralization has the potential to become a connecting zone of gold mineralization between the two deposits. And our last hole of the year, RSC-180, intersected 3.1m of 9.3 g/t Au at our new South Stock target.

RI: You have emphasized Evolving’s “drill-intensive approach” to discoveries. Please comment on why this is important.

BG: Gold discovery is how we create value for the company and how we intend to create wealth for our shareholders. With 3 out of 9 deep holes at Carlin hitting high-grade underground quality gold intercepts, we believe if we keep a systematic approach to drilling it is just a matter of time before we see more dramatic gold intercepts and a significant discovery.

RI: How close are you to making a resource estimate?

BG: At Rattlesnake we will work with our JV Partner, Agnico Eagle, to arrive at timing to initiate an initial resource study.  Certainly there has been sufficient drilling at Rattlesnake Hills to support a resource estimate. At the Arch discovery near Carlin, Nevada, more drilling needs to be completed before a resource study is contemplated.

RI: Since you’re still years away from being production-ready, what value does Evolving Gold immediately provide to shareholders and potential shareholders?

BG: Discovery of a major gold deposit has enormous value in itself.  Given the large size of our targets and land holdings, ultimately, the Nevada properties will probably be in the hands of a major, where they will continue to be mined and explored for decades to come. We think we’ll have 2-3 years to be able to add value and de-risk the project. After that, it would be reasonable for shareholders and potential shareholders to expect a beneficial transaction. In the meantime, any one drill hole at Carlin could be a company maker, and a number of successful drill holes could certainly add considerable value. Also, the company has considerable fully-funded exposure to the upside at Rattlesnake Hills.

RI: Could you give us a brief update on the progress at your Carlin-Humboldt properties? What sort of findings are you seeing that point to its potential?

BG: The potential at Carlin-Humboldt is dramatic. There are only so many places on earth that can support 20-, 30- and 40-million ounce gold deposits. The Carlin Trend is the 2nd most prolific gold mining camp in the world. The 1st most prolific is in South Africa. I know where I’d rather work. Evolving has a large land position, 24 gold targets, and a gold discovery with thick high-grade gold. Our mineralization is ideally suited to the processing facilities being operated by majors on the Trend.

RI: If I were an investor give me at least three reasons why I should invest in Evolving Gold.

BG: Evolving Gold is uniquely positioned within the junior exploration sector. First, our gold properties are of exceptional quality with extraordinary size potential and located in the most supportive mining jurisdictions in the world.  Secondly, we have a clear strategy and focus to deliver value through discovery.  And thirdly, we have a superb technical team, with all the required experience, skills and drive to succeed.

Investor Highlights 

• Focused on multi-million-ounce potential in safe, supportive jurisdictions: Nevada and Wyoming
• Thick high-grade gold intercepts in Carlin, Nevada. Examples:  18.3m of 
• 11.7 g/t Au
• Joint venture with Agnico Eagle on Rattlesnake Hills project, Wyoming.  Broad low-grade:  405m of 1.31 g/t Au