Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

January 02, 2008 08:00 ET

Midway Gold Approved for Listing on American Stock Exchange

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 2, 2008) - Midway Gold Corp. (the "Company" or "Midway") (TSX VENTURE:MDW) announced today that its common shares have been approved for listing on the American Stock Exchange ("AMEX") and is tentatively scheduled to begin trading at the opening of the market on January 3, 2008. The AMEX listing approval is contingent on the Company being in compliance with all applicable listing requirements on the date that it begins trading and may be rescinded if the Company is not in compliance with such standards.

The Company is expected to trade on AMEX under the symbol "MDW", and continues to trade on the TSX Venture Exchange under the symbol "MDW".

Midway President and CEO Alan Branham said, "With our growing U.S. shareholder base and our focus on discovery and development of new gold resources in Nevada, a U.S. listing is very important. We are delighted to begin trading on the American Stock Exchange."

Midway is a precious metals exploration and resource development company that focuses on high-grade gold and silver projects, with large growth potential, simple metallurgy, environmentally friendly deposits, that are within politically stable regions. Midway is aggressively exploring in Nevada, which has resulted in three major gold discoveries that are moving to advanced stage exploration and development. This past year, Barrick Gold Corporation has participated in equity placements in the Company of over $10 million dollars, funding one of the more aggressive drill programs in Nevada. The Company controls over 60 square miles of mineral rights, along four of the major gold trends, in seven project areas. With these new discoveries and current projects Midway plans to create a pipeline of valuable new gold resources in Nevada.

Midway has a full itinerary planned for 2008. Permitting is currently underway for an exploration decline at the Company's Midway Project, in Nye County, Nevada. This will give access to high grade portions of 22 bonanza gold veins and allow a bulk sample, an important first step toward actual production and further exploration development work. Gold recovered from the bulk sample is planned to offset the cost of the decline. A new NI 43-101 resource update for the Spring Valley Project is currently in progress, taking into account 165 new drill holes. Results are expected to be announced in early 2008. In addition, the Company's Pan Project near Eureka, Nevada continues to expand with five new gold zones discovered in 2007. Six drill rigs have been committed to the Company ensuring the potential of another year of aggressive growth.

Midway is a precious metals company, listed as a Tier 1 issuer on the TSX Venture Exchange under the symbol "MDW". Details of Midway's projects are available on the Company's website at www.midwaygold.com.

ON BEHALF OF THE BOARD

Alan Branham, President and CEO

This press release contains "forward-looking information" which may include, but is not limited to, statements regarding the expectations and beliefs of management and timing of the AMEX listing. Forward looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to the timing of our exploration and drilling programs; timing of the preparation of our preliminary economic assessment, geological models, mine plan and definitive feasibility study; expectations related to enhancing resource grades; financing plans and the availability of future financing for our projects; anticipated results of our exploration; the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, metal recoveries, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, the effect of hedging activities, including margin limits and margin calls, regulatory restrictions, including environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not expect to update forward-looking statements or information continually as conditions change, and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada and the United States.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Midway Gold Corp.
    Allan Shepard
    Toll Free: 1-877-475-3642 or (406) 202-4877
    Website: www.midwaygold.com