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Message: Evolving Gold Corp. Announces Termination of Option Agreement
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Chris, the source was an EVG nr dated November 15, 2007, and EVG nr dated September 27, 2005. Relevant paragraphs attached.

J

Meridian Gold Re-Initiates Drilling at Evolving Gold Corp’s Winnemucca Mountain Gold Project, Nevada


November 15, 2007, Vancouver, British Columbia: Evolving Gold Corp. (TSX-V:EVG) (OTCBB: EVOGF) (FSE:EV7) (“Evolving” the “Company”) is pleased to announce that Meridian Gold Corporation (“Meridian”) has re-initiated their drilling program at Winnemucca Mountain, Nevada. Meridian plans to drill approximately 3000 feet in five holes using a reverse circulation rig as a follow-up to drilling begun on the property late in 2006. The WinnemuccaMountain gold project was optioned from Evolving by Meridian in 2005 (refer to Evolving’s website www.evolvinggold.com for details of the joint venture agreement).

WinnemuccaMountain is located in HumboldtCounty, in northwestern Nevada. The property, which has excellent road access, is located about 25 km northwest of Newmont’s Lone Tree gold mine (pre-production resource reported as 4.2 million ounces of gold) and 30 km southeast of the Sleeper gold mine (1.7 million ounces of gold and 2.3 million ounces of silver produced between 1986 and 1996).

As the Operator of the project, Meridian completed 12 reverse circulation drill holes, totaling 2278 meters, in early 2007. Meridian’s drilling targeted the epithermal vein system which strikes NE across the large, 2115 hectare property. Ten of the 12 drill holes intersected the vein system, and although gold values were consistently anomalous (0.08 to 1.65 grams per ton of gold), the intersections did not yield the moderate to high-grade intercepts that occurred in previous drill holes by Santa Fe Mining (refer to earlier news releases by Evolving Gold on www.evolvinggold.com for past exploration results). The Meridian holes completed to date have ranged in depth from 320 to 900 feet and were targeted on the area around the historic high-grade Santa Fe intersection in hole 83 which returned 5 feet (1.52 meters) grading 2.02 ounces (68.6 grams) per ton gold.

Meridian Gold Company to Option Evolving Gold Corp’s Winnemucca Mountain Property

Vancouver, British Columbia, September 27, 2005: Evolving Gold Corp (CNQ:GOLD; OTCBB:EVOGF) (“Evolving”) is pleased to announce the signing of a Letter of Intent with Meridian Gold Inc. (NYSE: MDG ; TSE:MNG) (“Meridian”) regarding an option by Meridian to earn a 70% interest in Evolving’s Winnemucca Mountain property (the “Property”). The Property is situated near the northern end of the Battle Mountain-Eureka gold trend and consists of 272 unpatented mineral claims covering about 2,115 hectares in Humboldt County, in northwestern Nevada.

Under the terms of the Letter of Intent, Meridian can earn a 70% interest in the Property by making a total contribution of $US 500,000 in staged cash payments to Evolving and investing a total of $US 4 million in exploration on the Property before December 31, 2008. The minimum exploration expenditure between now and December 31, 2006 is $US 500,000. In addition, Meridian must deliver a pre-feasibility report on or before June 30, 2009. Upon completion of the required payments and expenditures, Evolving and Meridian will establish a joint venture in respect of the claims on the Property and Meridian will contribute 136 claims that adjoin the Property.

Background on the Winnemucca Mountain Property
Previous exploration work by Santa Fe Pacific Mining (now Newmont Mining Corporation) at the Property focused on the pediment-covered Swordfish Zone between 1988 and 1990. Gold mineralization at the Swordfish Zone occurs within a northeast-trending, low sulfide, quartz-adularia vein-type system. Santa Fe completed 73 reverse circulation drill holes, nearly all of which were focused on the Swordfish Zone, and reported results ranging up to 13.7 meters averaging 3.9 grams per ton gold.

Near the end of Santa Fe’s tenure on the Property, a step-out hole, approximately 500 meters northeast of the Swordfish Zone, encountered 2.2 ounces per ton (68.6 grams per ton) gold across a 5 foot (1.5 meter) hole length, at what is now called the SF Extension Zone. This intercept has never been followed up by further drilling, and has been interpreted by Evolving to indicate that higher gold grades may occur in structurally-controlled zones northeast of Swordfish, similar to the high-grade “feeder” zones which underlie the Sleeper, and other gold deposits in the district. The SF Extension, and beyond to the northeast, is a high-priority drill target.
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