Market Overview

Evolving Gold announces Director Resignation and proposed Private Placement

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VANCOUVER, British Columbia, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Evolving Gold Corp. (CSE:EVG) (FSE: EV71) (OTCB: EVOGF) (the "Company" or "EVG") announces the resignation of Robert Horsley as a director of the Company effective immediately. EVG would like to thank Mr. Horsley for his service, and to wish him well in his future endeavors.

The Company also announces that it will be undertaking a private placement to raise up to $250,000 through the distribution of up to 5,000,000 shares at $0.05 per unit. Each unit will consist of one share and one transferable share purchase warrant exercisable at $0.08 per share for two years. Funds will be used to pay down existing liabilities, and for general working capital purposes.

The board continues to actively review opportunities to advance the Company. Further announcements will be made as and when appropriate.

On Behalf of the Board of Directors

EVOLVING GOLD CORP.

"Charles Jenkins"

Director and Acting CEO

info@evolvinggold.com

Neither Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.


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