/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
VANCOUVER, April 30 /CNW/ - Evolving Gold Corp. (TSX-V: EVG) (OTCBB: EVOGF) (FSE:EV7) (the "Company") is pleased to announce that it closed its previously announced $1,000,000 non-brokered private placement (the "Private Placement"). The Private Placement fulfills an agreement with Golden Predator Mines (US) Inc. (see press release dated August 7, 2007) allowing Golden Predator to participate in private placements by the Company. Proceeds from the Private Placement are expected to be used for the drilling program at the Company's Rattlesnake Hills Diatreme Complex in Wyoming commencing early summer 2008.
The Private Placement consists of the issuance of 1,000,000 units ("Units") at a price of $1.00 per Unit. Each Unit consists of one common share ("Share") and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional Share (a "Warrant Share") of the Company at an exercise price of $1.50 per Warrant Share for twelve months from the date of closing. There are no finder's fees payable with respect to the Private Placement.
All securities issued by the Company in Private Placement will be subject to a resale restriction for a period of four months and one day from the date of closing.
About Evolving Gold Corp.
Evolving Gold is actively exploring nine separate gold properties, primarily in known, producing gold trends in the state of Nevada. In total, the Company holds over 90,000 acres of exploration lands.
The Company has entered into a lease agreement with Newmont Mining Corporation on four prospective gold properties located within the prolific Carlin Gold Trend (see press release dated December 5, 2007). The Company recently announced the signing of a definitive agreement to acquire 100% of the Rattlesnake Hills Diatreme Complex in Wyoming (see press release dated January 18, 2008).
The Company has three drills operating (expected to increase to four drills in the next 60 days) at their North Carlin District Properties and at their Sleeper District Project in Nevada. It has recently completed first rounds of drilling at the Malone Gold/Silver Project (NM) (see press release dated March 4, 2008) and Fisher Canyon (NV) (see press release dated February 1, 2008).
Evolving Gold is continuing its aggressive drilling and acquisition strategy.
On Behalf of the Board of Directors
EVOLVING GOLD CORP.
CEO and Director
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/or 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 are intended to be among the statements that 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 statements. 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 British Columbia Securities Commission.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Not For Distribution to U.S. Newswire Services or for Dissemination in
The United States
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.