Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

March 21, 2006 12:19 ET

Midway Continues to Expand Gold Zones at Midway Project, Nye County, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 21, 2006) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce results of eleven angle drill holes at the Midway Project, Nye County, Nevada. The most significant intercepted was 10.7 meters (6.1 meters true width) of 4.59 g/t gold, which extends the Dauntless zone, to the south. At the Cross Vein, 6.1 meters of 6.65 g/t gold was intercepted in MW06-26, just 67 meters below the surface. All eleven holes encountered more than 0.3 g/t gold, as shown below.



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Inter- True True
Hole Gold val Width From To Gold Width
No. g/t (meters) (m) (m) (m) opt (feet) Area
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MW06-15 4.59 10.7 6.1 77.7 88.4 0.134 20 Dauntless
1.57 3.0 2.1 102.1 105.2 0.046 7
0.8 1.5 0.9 111.3 112.8 0.023 3
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MW06-16 0.90 3.0 2.1 56.4 59.4 0.026 7 Dauntless
0.43 6.1 4.6 82.3 88.4 0.012 15
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MW06-17 1.81 10.7 4.9 64.0 74.7 0.053 16 Hornet
0.40 3.0 2.1 77.7 80.8 0.012 7
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MW06-18 0.40 1.5 1.2 76.2 77.7 0.012 4 Hornet
0.55 1.5 1.2 93.0 94.5 0.016 4
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MW06-19 0.95 1.5 1.5 21.3 22.9 0.028 5 Dauntless
1.92 3.0 2.4 99.1 102.1 0.056 8
3.14 4.6 3.7 121.9 126.5 0.091 12
---------------------------------------------------------------------
MW06-20 0.36 1.5 1.5 38.1 39.6 0.010 5 Dauntless
0.74 1.5 1.5 44.2 45.7 0.020 5
0.64 3.0 2.1 105.2 108.2 0.019 7
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MW06-21 1.17 1.5 1.5 22.9 24.4 0.034 5 Dauntless
1.27 3.0 2.4 51.8 54.9 0.037 8
1.07 6.1 3.0 71.6 77.7 0.031 10
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MW06-22 1.39 9.1 7.6 35.1 44.2 0.040 25 Dauntless
0.47 6.1 6.1 48.8 54.9 0.014 20
3.15 3.0 2.4 70.1 73.2 0.092 8
0.44 4.6 3.0 106.7 111.3 0.013 10
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MW06-23 pending
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MW06-24 0.33 1.5 0.9 44.2 45.7 0.010 3 Dauntless
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MW06-25 2.37 6.1 4.6 59.4 65.5 0.069 15 Dauntless
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MW06-26 0.65 6.1 4.6 18.3 24.4 0.019 15 Cross
Prelimi-
nary 0.74 4.6 3.0 30.5 35.1 0.021 10
6.65 6.1 3.7 70.1 76.2 0.194 12
inclu-
des 21.10 1.5 1.0 71.6 73.2 0.615 3
---------------------------------------------------------------------
All the drilling was reverse circulation drilling conducted by Layne
Christensen of Chandler, Arizona and Eklund Drilling of Elko,
Nevada. The holes were assayed by 30 gram fire assays by ALS-Chemex
labs, in Sparks, Nevada. Zones with significant veining and gold
are being checked with 1000 gram metallic screen assays. All the
sampling was conducted by independent contractors hired by Midway
Gold Corporation.


Drill hole MW06-15 in the Dauntless zone also encountered 10.7 meters of 1.81 grams/tonne gold which has extended the vein system. The higher-grade multi-gram gold intercepts announced in January appear to be limited to a distinct chute. The mineralization begins 45 meters beneath the surface and is oxidized. The Cross Vein lies immediately south of the Discovery and the Hornet zone, just 75 meters east of the Dauntless and west of the 63-77 zones. These zones are proximal to one other, building immediate value adjacent to the initial Discovery and 63-77 announced resource (see Midway's 43-101 report).

"The results of the drilling program continue to expand the known gold in the Dauntless and now the Cross and Hornet zones," says Alan Branham, President and CEO of Midway Gold. "These holes represent new shallow oxide gold that lies outside the current resource model and are increasing the value of the Midway project." Experience acquired in the Dauntless discovery is also being used to test for additional high-grade veins on the property. Phase I drilling completed forty-three holes (6463 meters) at Midway. Assays on 18 holes are pending, including four core holes in the Dauntless zone. The Midway gold property information can be viewed at http://www.midwaygold.com/Midway.htm.

Details of Midway Gold's projects are available on the Company's website at www.midwaygold.com.

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.

This release has been reviewed and approved by Craig Stiles (MSc. and CPG) a "qualified person" as that term is defined in National Instrument 43-101.

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