Proposed Share Consolidation

VANCOUVER, British Columbia, July 02, 2021 (GLOBE NEWSWIRE) — Evolving Gold Corp. (the “Company”) announces that its Board of Directors has approved a consolidation of the Company’s issued share capital on the basis of ten (10) common shares for one (1) new share of the Company. The Company currently has 22,569,994 common shares outstanding and will have 2,256,999 common shares outstanding after completion of the consolidation, subject to rounding and the elimination of any fractional shares resulting from the share consolidation. The number of outstanding stock options and warrants of the Company will similarly be adjusted by the consolidation ratio, and the exercise prices adjusted accordingly.

The share consolidation is subject to the acceptance of the Canadian Securities Exchange (“CSE”). The Company will also be seeking CSE acceptance to maintain its existing name and trading symbol in conjunction with the proposed consolidation.

About Evolving Gold Corp.

Evolving Gold Corp. is a Canadian-based gold exploration company engaged in the acquisition, exploration and development of natural resource properties. The Company’s focus was Canadian based mineral exploration properties, however the Company is currently evaluating its projects and seeking opportunities.

On Behalf of the Board of Directors

EVOLVING GOLD CORP.

“Charles Jenkins”

Director and Acting CEO

Email: [email protected]
Web: www.evolvinggold.com

Neither the 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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