EVG's Rattlesnake Hills and Carlin Property

SIDDHARTH RAJEEV, Fundamental Research Corp. (03/05/2010)
"All assay results from the 2009 drilling program at Rattlesnake hills have been released. Mineralization has been extended 100 meters to the west around the center of the intrusive plug. High-grade mineralization is shown to extend to, and remains open at, depth. Hole RSC-089 at Rattlesnake hills: 16.9 meters @ 10.31 g/t gold including 4.6 meters @ 26.16 g/t gold. Results continue to support the Alkalic gold system model.

High-grade intercepts at Carlin project in Nevada. CAR-007 at Carlin: 4.6 meters @ 31.0 g/t gold, including 3.0 meters at 44.6 g/t, and 3.0 meters @ 14.1 g/t gold, including 1.5 meters @ 24.9 g/t gold.

Since our last update in September 2009, Evolving Gold has released the remaining assay results from 2009 exploration at the Rattlesnake Hills property in Wyoming. All three objectives we were watching for were met with a few even beating expectations. The company was able to replicate both low-grade and high-grade results. The high-grade zone was extended vertically, but more importantly, was extended laterally, and further expansion of the Antelope Basin including two, greater than 3.00 g/t intercepts.

. . .Outlook for 2010: The company's plans for 2010 include a 20,000-meter program with a budget between $4.2 and $4.5 million that will utilize three track rigs. The company began using track rigs towards the end of the 2009 exploration season finding that they provided more flexibility drilling in some of the more difficult locations on the property."

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