The Sheep Creeks property is one of four properties that are subject to an exploration lease and sublease agreement with Newmont Mining Corporation.

Approximately 10,500 acres of Newmont-held surface and minerals has been combined with Evolving Gold's 39,200 acres of staked claims to form the Sheep Creeks project area, which lies approximately 25 miles north of the town of Battle Mountain. Evolving's land package also includes an additional 9,000 acres of miscellaneous claims in this area.

For years, exploration geologists have debated the relationship between the prolific north-northwest trending Carlin Trend, host to over 100 million oz Au (Gold) and the northeast-trending Getchell Trend, host to over 30 million oz Au. The region lying at their projected intersection is largely covered with alluvium and volcanic rocks thought by many geologists to be thick and prohibitive to exploration. A new geologic model proposed by Evolving Gold based on geophysical data and recognition of certain styles of faulting suggests that much of this area is actually shallowly buried and that the same rocks that host ore on the Carlin and Getchell trends are perhaps nearly outcropping in places under a veneer of cover. In essence, these gravity blocks may hold "pieces" of the Carlin Trend that has become disarticulated during Miocene extensional tectonism. This model suggests that there may be about as much ground that is shallowly buried as is presently exposed along these trends, a discovery that would quickly revolutionize exploration in what is considered a well-hit area. If so, they could represent a large area of un-tested ground in one of the most prolific gold belts on the planet. Evolving is currently drilling a series of 300-500 m deep, vertical holes in several strategic areas to test this concept.