Midway Gold Corp.

Midway Gold Corp.

October 18, 2007 08:00 ET

Midway Finds High Grade Gold at Thunder Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2007) - Midway Gold Corp. (TSX VENTURE:MDW) has intercepted high grade gold at its Thunder Mountain project, Nevada. Results from a seven hole reverse circulation drill program include hole TM07-04 which encountered 5 feet of 1.187 opt (ounces per ton) gold within 20 feet of 0.342 opt gold in silicified volcanic breccia.

Two holes were drilled 50 feet on either side of a hole drilled by a previous operator that encountered 10 feet of 1.93 opt gold in 30 feet of 0.705 opt gold. The recent drilling confirmed this high grade zone and shows continuity over a short distance. Additional drilling is needed to determine the extent of mineralization and true width. The five other holes in this program tested separate geophysical anomalies and surface silver anomalies with no significant intercepts. Significant assays are shown in the table below.

Thunder Mountain is six miles southeast of the Midway project and is located along extensions of the same gold-bearing structures seen at Midway.

Thunder Mountain drill results
Hole ID Gold Interval From To Assay Gold Interval From To
opt feet Feet Type gm/t meters meters
TM07-04 0.105 70 55 125 FA 3.61 21.3 17 38
includes 0.342 20 FA 11.73 6.1
TM07-05 0.013 15 100 115 FA 0.44 4.6 30 35

Assays are 30g fire assays conducted by ALS Chemex labs in Sparks, Nevada.
Reverse circulation drilling was conducted by Layne Christensen of
Chandler, Arizona. True widths have not yet been determined.

Midway Gold Corp. is focused on expanding and developing its flagship resource, the Spring Valley deposit, along with its Midway and Pan deposits; all three of which are situated along major recognized trends in the mining friendly state of Nevada. Midway is a precious metals company, listed as a Tier 1 issuer on the TSX Venture Exchange under the symbol "MDW". 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 Alan Branham, (M.Sc. and CPG), a "qualified person" as that term is defined in National Instrument 43-101.


Alan Branham, President and CEO

This press release contains "forward-looking information" which may include, but is not limited to, statements with respect to the timing of our exploration and drilling programs; timing of the preparation of our preliminary economic assessment, geological models, mine plan and definitive feasibility study; expectations related to enhancing resource grades; financing plans and the availability of future financing for our projects; anticipated results of our exploration, and other plans, projections, estimates and expectations. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. We do not undertake to update forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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