Evolving Gold Continues Drilling at Carlin, Nevada

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/26/12 -- Evolving Gold Corp. (TSX: EVG) (FRANKFURT: EV7) (OTCQX: EVOGF) (the "Company") announces it continues to drill on its Carlin gold project in Nevada and has started drilling hole CAR-021.2. The Company's holdings at Carlin and Humboldt are adjacent to the Rain Mine and Saddle Project holdings by Premier Gold Mines Ltd. (PG-TSX) and various operating mines of Newmont Mining Corp. (NMC-TSX). Drill Hole CAR-021.2 is part of a program to focus on defining high grade gold mineralization along the crest of the "Arch Zone", which has a strike length of at least 700 meters. The Arch Zone and high grade gold mineralization is completely open along strike. Gold results, as previously reported, include 87 meters averaging 6.06 grams per tonne, which included six high grade intervals with grades as high as of 57.9 grams per tonne gold.

The Company uses wedge holes at its Carlin property to maximize drill coverage at the lowest possible costs. Drill hole CAR-021.2 is a wedge hole starting at 1,900 feet in the parent hole targeting the trend of recently reported high grade gold mineralization. Drilling intercepts encountered in holes CAR-016.1, CAR-016.1.1, CAR-016.2 and CAR-021 indicate a trend of mineralization that extends from high grade intercepts in CAR-010 and CAR-007 to the East/Southeast. The lower contact of the gold mineralization also dips steeply to the East/Southeast into more calcareous and more favourable host rocks. Because the upper contact of gold mineralization also continues with the same East/Southeast trend and is relatively flat lying, there is potential for a significant thickening of the zone of high grade gold intersections.

R. Bruce Duncan, CEO of Evolving Gold states, "Our drilling at Carlin is designed to define and expand the high grade gold zone. The high grade gold discoveries in each of our previous six drill programs have identified a large zone of high grade gold mineralization that extends along the entire crest of the Arch Zone that we have defined between CAR-007 and CAR-002. The known strike length of the Arch Zone is currently over 700 meters, and it is entirely open along strike. We consider all of the Arch Zone, particularly along the crest of the Arch Zone, to be highly prospective for the discovery and definition of additional high grade gold mineralization. The high grade gold we have discovered lies at depths similar to underground mining already underway elsewhere in the Carlin Trend and has gold grades similar or even better than some of those operating, underground mines."

At this stage of exploration, true thickness of intersections is not precisely known. All assays discussed in this news release were covered previously in earlier releases, and details of analytical procedures and laboratories (SGS Canada Inc. and Inspectorate America) utilized by the Company are identified in those releases. All gold assay averages are weighted averages, weighting each assay by the length of the core interval for that assay. All assay intervals are included in the average, with no bottom cut-off. All gold assays are completed utilizing standard fire assay techniques, using a 30 gram charge. Over limits are completed using a gravimetric finish. All reported intervals are assayed using the same techniques with blank and standard inserts at the secondary lab upon completion to meet internal and 43-101 QA/QC standards.

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).

Contacts:

Evolving Gold Corp.

Corporate Offices

604.685.6375 or Toll Free: 866.604.3864
info@evolvinggold.com
bruce@evolvinggold.com
www.evolvinggold.com