Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

June 22, 2005 14:58 ET

Midway Announces CDN $1,150,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 22, 2005) - Midway Gold Corp. (TSX VENTURE:MDW) (the "Company") is pleased to announce that it has arranged a non-brokered private placement with a US institutional investor, of one million units at $1.15 per unit, for proceeds of $1,150,000. Each unit shall consist of one common share and one-half non-transferable common share purchase warrant of the Company. The units will be subject to a four month hold period. Each two warrants will entitle the holder to acquire one additional common share at a price of $1.15 per share, for a period of twelve months. The proceeds of the private placement will be used to fund ongoing exploration expenses on the Spring Valley Property and for working capital. Completion of the private placement is subject to regulatory approval. No finder's fee is payable in respect of this transaction.

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 of the creation of value for shareholders by exploring and developing high-grade, quality precious metal resources in mining favourable areas. Details of Midway Gold's projects are available on the Company's website at www.midwaygold.com.

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 (877) 692-8288 (US toll-free)
    www.midwaygold.com