Midas Gold Corp.
TSX : MAX

December 07, 2011 07:30 ET

Midas Gold Makes Senior Technical Appointments for Its Golden Meadows Project, Idaho

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 7, 2011) - Midas Gold Corp. (TSX:MAX) today announced that it has made a number of senior technical appointments to support its current and planned work program at its Golden Meadows Project in Idaho.

"The appointment of three very experienced and highly qualified senior technical personnel to the Golden Meadows Project team strengthens Midas Gold's ability to continue to advance its evaluation of this significant gold-silver-antimony deposit," said Stephen Quin, President and CEO of Midas Gold. "Midas Gold's capability to attract such senior personnel in a highly competitive market is a reflection of the quality of the Golden Meadows Project," he said. "With seven drills on site - four core, two reverse circulation and one sonic rig - we are and plan to continue to systematically conduct infill, step-out and exploration drilling across our expanded Golden Meadows Project while, in parallel, advancing updated mineral resource estimates and completion of an independent preliminary economic assessment on the project."

Technical Appointments

Midas Gold has added three senior, experienced technical personnel to its Golden Meadows Project staff.

John Meyer, P.Eng., has been appointed as Development Manager for the Golden Meadows Project, effective the start of 2012. Mr. Meyer was most recently the Project Manager for Kinross Gold's Fruta del Norte (FDN) gold project in Ecuador, where he managed the design and development of this high-grade refractory gold project. His responsibilities with FDN included management of the preliminary and final feasibility studies, drilling activities and site construction. Prior to Kinross Gold's acquisition of Aurelian Resources, Mr. Meyer was Director of Technical Services with Aurelian Resources, where he managed preparation of the FDN scoping study. Prior to Aurelian, Mr. Meyer held a corporate position as Manager of Geotechnical Engineering with Barrick Gold and, also with Barrick, Engineering Manager for aspects of the Pascua Lama project in Chile/Argentina. Prior to his role with Barrick, Mr. Meyer was an engineering design consultant and involved in projects for Syncrude Canada, Diavik Diamond Mines, Cominco Metals, Suncor Energy and Placer Dome Canada, among others.

Richard Moses, Professional Geologist, has been appointed Field Operations Manager for the Golden Meadow Project. Mr. Moses has extensive cold-weather drill definition experience, most recently as site manager for International Tower Hill's Livengood project, where he managed nine drills conducting mineral resource and hydrologic drilling. Prior to that, Mr. Moses was Exploration Manager for Altynalmas Gold's Bakyrchik gold project in Kazakhstan, where he supervised a 40,000m drill program designed to convert mineral resources to NI 43-101 compliant estimates. Prior to Bakyrchik, Mr. Moses spent three years as site manager and geologist at Northern Dynasty's Pebble copper-gold project in Alaska, where he was involved in the discovery and definition of the Pebble East deposit, and spent four years with Placer Dome as project manager and geologist drilling off the Donlin Creek gold project in Alaska.

Midas has also retained Don Weaver as drilling program supervisor, to assist with managing the drilling program and oversee the logging of core and rock chips at Midas Gold's expanded facilities in Lake Fork, Idaho. Mr. Weaver was previously responsible for exploration and definition drilling at Sumitomo's Pogo gold mine in Alaska, including drill oversight, core logging and QA/QC and prior to that, was underground mine geologist for Teck at Pogo. Previously, Mr. Weaver worked on gold projects in the US owned by Anglo Gold, Kinross and Independence Mining, among others.

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc. and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled "NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho" dated June 6, 2011 (the "Technical Report") is available on Midas Gold's website at www.midasgoldcorp.com or under Midas Gold's profile on SEDAR at www.sedar.com.

The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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