Analyst Coverage
Evolving Gold analyst coverage has been initiated by the following independent research firm

Fundamental Research Corp.
Siddharth Rajeev, VP and Head of Research
srajeev@researchfrc.com
604 682-7065
Initiated Coverage in June 2009
www.researchfrc.com

The views and recommendations which may be expressed in this analyst report are the views and responsibility of the analysts and the firms they represent and do not necessarily represent the views of Evolving Gold Corp., or their respective subsidiaries and affiliates. Evolving Gold claims no ownership or proprietary interest in, or adoption of, such analyst’s recommendations or reports, and the provision of the above information does not necessarily represent Evolving Gold’s agreement or disagreement with such analyst’s recommendations or any information, forecasts, projections or forward-looking statements contained in such analyst’s reports.