VANCOUVER, Nov. 24- Evolving Gold Corp. (TSXV: EVG) (OTCBB: EVOGF) (FSE:EV7) (the "Company") is pleased to announce that it has appointed
Dr. Robert W. Barker
as Chief Executive Officer of the Company.
At its Board meeting on November 14, 2008 Dr. Robert Barker was appointed Chief Executive Officer of Evolving Gold Corp. The former CEO, Robert Bick was appointed Executive Chairman. Dr. Quinton Hennigh remains President and Vitaly Melnikov, Chief Financial Officer and Corporate Secretary.
"Today's markets are at the same time unsettling and full of opportunities. With decades of experience worldwide in mineral exploration, a stellar reputation and an extensive network, Bob will be invaluable in defining and implementing Evolving's strategic vision. We are honoured to have Bob join the Evolving Management team." comments Robert Bick, incoming Executive Chairman.
Robert W Barker, PhD, PGeo
Dr Barker has spent 44 years in successful multi-commodity mining exploration, with 27 years in exploration and acquisition leadership. He has led exploration and acquisition programs in the USA, Canada, Australia and South America. Dr Barker spent the last 20 years in senior management positions, 14 years with Newcrest Resources, Inc. as General Manager, American Exploration. He has also held exploration leadership positions with Homestake Mining Co. and Amax, Inc.
Dr Barker's long experience in evaluations of advanced and developmental projects, review of resource estimates and mine development plans is critical to Evolving Gold at this stage of its growth.
Dr Barker has a PhD in Economic Geology from the University of California, Berkeley and is a Certified Professional Geologist, AIPG.
Incentive Stock Options
The Company announces today that it will distribute 2,375,000 incentive stock options to directors, officers, employees and consultants of the Company at a price of $0.17.
2,150,000 options will have a 10 year term. 225,000 options are vested over a one year period and subject to contract negotiations. All option grants are subject to regulatory approval.
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About Evolving Gold Corp.
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Evolving Gold is focused on its discovery property - Rattlesnake Hills, in Wyoming. Assay results for the first three holes reveal an intersection of 2.48 Grams/Tonne over 146 Meters (see press release 9/8/08). The Company has completed a 15 hole, 7,000 meter drilling program on this property with further assay results coming out over the next months. Evolving has the option to acquire 100% of the Rattlesnake Hills project.
Evolving also has 8 other gold properties primarily in Nevada including a lease agreement with 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).
Evolving Gold has over $18 million in its treasury.
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On Behalf of the Board of Directors
EVOLVING GOLD CORP.
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Robert Bick
Executive Chairman
Robert@evolvinggold.com
Tel: 604 685 6375 or 1-866-604-3864
www.EvolvingGold.com
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FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the continued advancement of Evolving's general business development, research development and Evolving's development of mineral exploration projects. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Evolving Gold Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that Evolving's mineral deposit(s), fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our annual report on Form 20F filed with the U.S. Securities and Exchange Commission and filings made with the Canadian Securities Regulations.
For further information: Evolving Gold Corp.: Robert Bick, Executive Chairman, robert@evolvinggold.com, Direct: (604) 685-6375, Toll Free: 1-866-604-3864, www.EvolvingGold.com
