Evolving Gold Issues Stock Options

VANCOUVER, Feb. 28, 2012 /CNW/ - Evolving Gold Corp. (TSX: EVG) (OTCQX: EVOGF) (FSE: EV7) (the "Company") announces that it has granted incentive stock options to certain directors, officers and employees to purchase up to a total of 2,260,000 common shares in the capital stock of the Company, exercisable for five years at a price of $0.37 cents per share.

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 on advancing 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

R. Bruce Duncan
CEO & Director

FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Investor Relations:
Rory Quinn
Tel: [phone]
TF: 866.604.3864
[email protected]