VANCOUVER, July 23 - Evolving Gold Corp. (TSXV: EVG) (FSE: EV7) (the "Company") is pleased to announce that it is mobilizing a fourth core drill rig at Rattlesnake to define the true width and size potential of the high grade gold mineralization. The Company has an option to acquire 100% of the Rattlesnake Hills property.

With the recent exercise of a portion of the outstanding warrants, the Company now has approximately $18 million in its Treasury allowing it to aggressively explore and advance this project.

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    -  The recent intersection of 67.1 meters at 10.8 gpt Au in drill hole
       RSC-020 has expanded the high grade zone of mineralization at
       Rattlesnake approximately 145 meters southwest of the high grade
       previously reported in RSC-007 and RSC-003.

    -  The fourth drill rig will be focused on offset drilling to better
       define the true width and size potential of the high grade gold
       mineralization at Rattlesnake.

    -  Two other drill rigs will continue to focus on North Stock, to test
       other targets and to better define the geometry, size and grade of the
       bulk tonnage gold mineralization.

    -  One drill rig will continue to test the gold mineralization in the
       Antelope Basin and South Stock areas, up to one kilometer south of the
       North Stock target.

    -  Consultations with the permitting authorities in Wyoming have
       indicated that the fourth drill rig is within the scope of our current
       permit. The added rig is on the property and drilling.
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"This fourth drill rig will allow us to continue with our overall drilling plans, while giving us the capacity to properly define the high grade gold mineralization at Rattlesnake and offset the existing high grade intersections," saysQuinton Hennigh , President and Chief Geologist. "This will allow us to effectively explore the exciting high grade portion of this major gold system. We hope to drill 25,000 meters at Rattlesnake this year, an increase of 10,000 meters over our original plan."

Robert Barker, CEO, adds, "It is critical in our drill program that we properly test both the high grade and the bulk tonnage targets at Rattlesnake. This added drill rig will help ensure that we have enough information by the end of the drill season on both of these gold targets to complete a scoping study and a preliminary resource estimate by the first quarter of 2010."

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 8 other gold properties in New Mexico and 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).

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: http://evolvinggold.com/sign-up.php

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.

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    On Behalf of the Board of Directors
    EVOLVING GOLD CORP.

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    Robert Barker
    CEO and Director
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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.

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    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.
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For further information: Evolving Gold Corp.: Robert Bick, Executive Chairman, [email protected], 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, [email protected]; Senergy Communications Inc.: Shiro Rae, Tel: (778) 331-2097, [email protected]; Investors can post questions and receive answers at the Evolving Gold Corp IR Hub at http://www.agoracom.com/IR/evolving