Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

October 11, 2005 12:08 ET

Midway Continues to Expand Gold Discoveries at Spring Valley Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 11, 2005) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce new results from exploration drilling on the Spring Valley Project, located 24 miles northeast of Lovelock, Nevada. Listed below are recent intercepts above the cut off of 10ft of 0.01 opt gold.



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Gold DH Assay Width- Gold
Hole # Width opt feet Angle Target Type meters g/t
SV05-85c 52 ft 0.024 from 102 -70 Sill MS 15.8 m 0.82
SV05-87c 85 ft 0.025 from 125 -60 Sill MS 25.9 m 0.86

SV05-88 50 ft 0.036 from 245 -65 Sill MS 15.2 m 1.23

SV05-89 10 ft 0.103 from 75 -70 Sill MS 3.0 m 3.53
5 ft 0.052 from 250 MS 1.5 m 1.78

SV05-97 10 ft 0.015 from 50 -70 Sill MS 1.5 m 0.51

SV05-105 15 ft 0.014 from 790 -70 N. Pond MS 4.6 m 0.48

SV05-106 30 ft 0.016 from 170 -70 Sill MS 9.1 m 0.55
5 ft 0.040 from 250 MS 1.5 m 1.37

SV05-107 5 ft 0.024 from 405 -90 W.
Diatreme MS 1.5 m 0.82
15 ft 0.010 from 430 MS 4.6 m 0.34

SV05-108 40 ft 0.033 from 625 -90 Por-
phyry MS 12.2 m 1.13
15 ft 0.030 from 760 FA 4.6 m 1.03
25 ft 0.029 from 830 FA 7.6 m 0.99

SV05-109 70 ft 0.060 from 305 -90 Por-
phyry MS 21.3 m 2.05

SV05-115 70 ft 0.035 from 85 -90 Sill MS 21.3 m 1.20

SV05-116 10 ft 0.247 from 80 -90 Sill MS 3.0 m 8.46
60 ft 0.018 from 175 MS 18.3 m 0.62

SV05-117 15 ft 0.028 from 135 -70 Sill FA 4.6 m 0.96
40 ft 0.056 from 275 MS 12.2 m 1.92

SV05-119 10 ft 0.136 from 310 -60 W.
Diatreme MS 3.0 m 4.66
5 ft 0.056 from 515 FA 1.5 m 1.92

SV05-122 55 ft 0.029 from 365 -70 Sill MS 16.8 m 0.99

SV05-123 55 ft 0.040 from 230 -90 Sill FA 16.8 m 1.37
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The results at Spring Valley continue to expand and delimit the Sill and Porphyry zones. Holes SV05-107 and SV05-119 encountered gold in the West Diatreme target, which lies 2000 feet west of the Pond zone. Drilling has encountered similar volcanic rocks as the Pond zone suggesting additional vents or breccia pipes might exist along the west flank with large intervals of anomalous gold. Currently, one reverse circulation drill rig is exploring the West Diatreme target and a core and reverse circulation drill is exploring the Pond, Sill, and Porphyry targets.

Assays were completed at ALS-Chemex lab in Sparks, Nevada. Assay types included 1000 gram metallic screen analysis (MS) and standard 30 gram fire assays (FA). Widths listed above are down-the-hole length and not true widths. The angle of the hole from horizontal is also listed. The suffix (C) on the drill holes denotes HQ core. The holes without the c suffix denote reverse circulation drilling. Information for the Spring Valley project can be reviewed at Midway's website at: www.midwaygold.com/SpringValley.htm.

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 US Toll Free: 1-877-692-8288
    www.midwaygold.com