Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

August 24, 2007 14:31 ET

Midway Gold Closes $5.4 Million Financing With Resolute Performance Fund

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2007) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce that it has closed a private placement financing with Resolute Performance Fund ("Resolute") of 2,000,000 common shares for proceeds of $5,400,000. The common shares are subject to a four month hold period.

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 aggressively exploring and developing 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.

ON BEHALF OF THE BOARD

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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