VANCOUVER, July 31 /CNW/ - Evolving Gold Corp. (TSXV: EVG) (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:
http://evolvinggold.com/sign-up.php

    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.