Midway Gold Corp.
TSX VENTURE : MDW
NYSE Amex : MDW

Midway Gold Corp.

April 07, 2010 20:15 ET

Midway Plans Interim Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Midway Gold Corp. ("Midway") (TSX VENTURE:MDW)(NYSE Amex:MDW) plans to raise up to $800,000 from a non-brokered private placement financing from the sale of up to 1,333,333 units at a price of $0.60 per unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional share in the capital of Midway for a term of eighteen months from closing at a price of $0.70 per share for the first six months, $0.80 per share for the second six months and $0.90 per share for the third six months from closing the private placement. The private placement is subject to compliance with applicable securities laws and to receipt of regulatory approval.

Proceeds of this private placement will be used by Midway to fund ongoing exploration and development programs and Midway's gold projects in Nevada and Washington and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ON BEHALF OF THE BOARD

Daniel Wolfus, Chairman and CEO

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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