Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

October 14, 2005 13:39 ET

Midway Announces Additional Gold Discovered at Midway Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 14, 2005) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce new results from exploration drilling on the Midway Project, located 15 miles northeast of Tonopah, Nevada. At the Midway project, near Tonopah, Nevada, the final hole from an eight drill-hole program was received which encountered: 95 feet of .023 opt gold beginning at 215 feet (30m at 0.78 g/t gold) in the Discovery Zone. This program include intercepts from MW399 which encountered 175 feet of 0.349 opt gold in the newly discovered Dauntless Zone and MW402 with 135 feet of 0.058 opt gold and 10 feet of 0.287 opt gold in the North Discovery zone. Midway is currently modifying the drill permits and will begin approximately a 20 drill-hole program to explore the new Dauntless zone and other significant targets as soon as a drill can be secured. The Midway gold property information can be viewed at http://www.midwaygold.com/Midway.htm.

Current Exploration Activities

Drilling is currently in progress at the Black Prince silver-gold property, near Pioche, Nevada. Twelve holes (5800 feet) are planned to drill test for bonanza grade silver and gold along the Black Prince vein system. Rock chips collected along the 7000 foot vein system have identified at least five parallel veins with widths of 6 to 50 feet and grades as high at 20 opt silver and 0.15 opt gold. Drilling is testing for high-grade zones at depth, either below the oxide zone or in zones in which boiling has occurred and bonanza grades could be expected. Drilling has intercepted the targeted veins at depth with widths in excess of 50 feet and as discovered several new parallel veins. Samples will be submitted to the ALS-Chemex, in Sparks, Nevada once the program is complete.

Midway Gold Corp. is a precious metals exploration company, listed as a Tier 1 issuer on the TSX Venture Exchange under the symbol "MDW". Midway focuses on the creation of value for shareholders by exploring and developing high-grade, quality precious metal resources in stable mining areas. Details of Midway Gold's projects are available on the Company's website at www.midwaygold.com.

This release has been reviewed and approved by Company President and CEO Alan Branham (P.Geol.), a "qualified person" as that term is defined in National Instrument 43-101. Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

ON BEHALF OF THE BOARD

Alan Branham, President and CEO


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.
    Ron Cooper
    (604) 986-0112 (Canada) or Toll Free: 1-877-692-8288 (US)
    www.midwaygold.com