Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

September 28, 2005 12:57 ET

Midway Discovers 175 Feet of 0.35 opt Gold in a New Feeder Zone at Midway Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 28, 2005) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce the discovery of a new high-grade zone on the Midway project, in Nye Co., Nevada of 175 feet of 0.349 opt gold (53.3 m of 11.97 g/t gold) which includes one of several vein zones with 70 feet of 0.785 opt gold (21.3 m of 26.92 g/t gold) from 215 feet to 285 feet. The hole was drilled to the southwest at a -70 angle, across an untested fault zone 500 feet east southeast of the Discovery Resource and northwest of the 63-77 Zone. Additional drilling will be required to determine the true width and orientation of these zones. This zone could be the potential feeder zone for the Main Discovery Zone.



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Drill Gold Feet Gold
Hole # Width opt start Angle Target Width-m g/t
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MW398 140 ft 0.017 from 170 -60 N. Disco. 42.7 m 0.57
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MW399 175 ft 0.349 from 195 -70 Dauntless 53.3 m 11.97
includes 5 ft 0.165 from 215 1.5 m 5.66
5 ft 0.550 from 230 1.5 m 18.85
5 ft 0.180 from 250 1.5 m 6.18
15 ft 3.163 from 260 4.6 m 108.43
5 ft 0.158 from 280 1.5 m 5.41
10 ft 0.255 from 350 3.0 m 8.78
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MW400 10 ft 0.015 from 185 -55 Dauntless 3.0 m 0.51
10 ft 0.020 from 210 3.0 m 0.70
10 ft 0.022 from 260 3.0 m 0.74
10 ft 0.028 from 290 3.0 m 0.96
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MW401 10 ft 0.032 from 205 -55 Dauntless 3.0 m 1.08
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MW402 135 ft 0.058 from 190 -57 N. Disco. 41.1 m 2.00
10 ft 0.013 from 375 3.0 m 0.43
10 ft 0.287 from 405 3.0 m 9.83
10 ft 0.023 from 450 3.0 m 0.80
MW403 Pending -55 Discovery
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MW404 10 ft 0.009 from 160 -70 Rye Patch 3.0 m 0.32
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New Discovery Helps Identify Additional Targets

This new discovery, named the Dauntless Zone, is open to the north and south. This new discovery is only 200 feet (61 m) below the surface and is entirely oxidized with abundant visible gold noted in the cuttings. The zone is outside any previously modelled resources. This target is hosted within the basement Palmetto argillite and contains abundant dikes and veins. The high-grade gold zones in the Palmetto argillite are found in favourable structural traps and with a distinct elevation control. The company is reviewing older drill holes which intersected veins above or below the favourable high-grade elevation control as potential exploration targets. This new discovery opens up numerous possibilities of additional high grade targets adjacent to the known resources and will help focus exploration efforts in the 14 square mile Midway project.

Hole MW402, which discovered 135 feet of 0.058 opt gold at 150 feet below the surface, tested an extension of the north end of the Discovery Resource. This intercept could represent up dip mineralization from the Dauntless zone, still untested in this area. Hole MW402 also intercepted a quartz vein in Palmetto argillite with 10 feet of 0.287 opt gold. Over a dozen targets are being reviewed with the new exploration criteria and additional drill sites are being planned and permitted. Additional drilling is planned to begin in November or early December.

All the drilling was reverse circulation drilling conducted by Layne Christensen of Chandler, Arizona. In zones of obvious veining and intense silicification 1000 gram metallic screen fire assays were conducted and the remainder of the hole was assayed by 30 gram fire assays by ALS- Chemex labs, in Sparks, Nevada. All the sampling was conducted by independent contractors hired by Midway Gold Corporation.

Current Exploration Activities

Midway is currently exploring with three drills at the Spring Valley Project, in Lovelock, Nevada and one drill at the Black Prince Project, near Pioche, Nevada.

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. The Midway gold property information can be viewed at www.midwaygold.com/Midway.htm.

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.

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