Evolving Gold (EVG-V, EV7-F, EVOGQbb;

$1.00 on V) saw its fading market

turn around somewhat with the release of

drill results from Nevada. We consider these

results from the Company’s Carlin JV a legitimate

discovery hole. Drill hole CAR007 cut a

total of six separate gold bearing intersections

over 422 metres of core length, beginning

759 metres down hole. Of these, four

intercepts with an aggregate length of 26

metres contained very significant numbers,

and each of these four included an ore quality

section for underground mining. The best

of these was 4.6 metres @ 31 g/t (1 oz/

ton) gold that included 3 m of 44.6 g/t. A

second section returned 3 m of 14.1 g/t

gold that included 1.5 m of 24.9 g/t gold,

HRA Journal 8 March 2010

and two longer sections averaging 5.5 g/t

and 7.4 g/t respectively included sections of

3 m @ 12.7 g/t and of 3 m of 23.7 g/t

gold. This is an outstanding result, and the

best set of intersections we have noted from

deep Carlin testing in this cycle. This tenor

of results is needed to seriously consider putting

together a resource at this depth, and

are in keeping with deep deposits elsewhere

in the trend that have become ore bodies.

These results give EVG a second marquee

project and more blue sky potential for this

year’s exploration programs. The drill is

turning on an off-set hole to better orient

EVG within the system, and more may follow

so there could be news from Carlin until this

year’s drill start in Wyoming. Accumulate on

weakness as the 2010 plans are being finalized.

http://www.evolvinggold.com