Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

April 11, 2006 12:41 ET

Midway Hits 34.7 Meters of 6.21 g/t Gold in Dauntless Zone at Tonopah, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 11, 2006) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce results of 15 angle drill holes at the Midway Project, Nye County, Nevada. Hole MW06-29D encountered a broad vein zone of 34.7 meters (11 m true width) of 6.21 g/t gold. Within this zone were two veins, one with 10.7 meters (3 m true width) of 16.67 g/t gold and 1.5 meters (1 m true width) of 11.65 g/t gold. This core hole was a down dip test of a reverse circulation hole that encountered 30.5 meters of 15.41 g/t gold. Additional gold was discovered in the Enterprise zone, 800 meters south of the Dauntless zone, in four holes shown below.



Significant Gold intercepts (greater than 0.3 g/t) gold-Midway
Project, Nye Co., Nevada

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True TRUE
Gold Interval Width From To Gold Width
Hole No. g/t (meters) (m) (m) (m) opt (feet) Area
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MW06-23 2.78 1.5 1 24.4 25.9 0.081 3 Dauntless
0.35 3.1 2 71.6 74.7 0.010 7
2.9 1.5 1.5 96.0 97.5 0.085 5
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MW06-27 0.92 3.1 3 27.4 30.5 0.027 10 Cross
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MW06-28D 1.1 2.4 1.5 45.4 47.9 0.032 5 Dauntless
2.67 1.5 1.5 50.3 51.8 0.078 5
0.95 7.6 4.6 94.5 102.1 0.028 15
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MW06-29D 6.21 34.7 11.0 48.8 83.5 0.181 35 Dauntless
includes 16.67 10.7 3.0 67.1 77.7 0.486 10
includes 11.65 1.5 1.0 62.5 64.0 0.340 3
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MW06-30D 0.63 1.2 1.2 62.8 64.0 0.018 4 Dauntless
(abandoned)
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MW06-31 0.6 1.5 0.5 41.1 42.6 0.018 2 Nautilus
0.43 3.1 1.0 70.1 73.2 0.013 3
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MW06-32 0.56 3.1 1.5 44.2 47.3 0.016 5 Nautilus
0.94 1.5 1.5 57.9 59.4 0.027 5
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MW06-33 5.12 3.1 3.0 51.8 54.9 0.149 10 Enterprise
2.12 6.1 6.1 68.6 74.7 0.062 20
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MW06-34 1.44 3.1 1.5 57.9 61.0 0.042 5 Enterprise
1.30 3.1 3.0 76.2 79.3 0.038 10
1.21 1.5 1.5 85.3 86.8 0.035 5
-----------------------------------------------------------------------
MW06-35 4.19 1.5 1.0 121.9 123.4 0.122 3 Dauntless
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MW06-36 0.38 1.5 1.0 50.3 51.8 0.011 3 Dauntless
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MW06-37 0.45 1.5 1.5 57.9 59.4 0.013 5 Enterprise
2.05 6.1 6.1 83.8 89.9 0.060 20
-----------------------------------------------------------------------
MW06-38 3.36 4.6 3.0 88.4 93.0 0.098 10 Enterprise
0.55 3.1 1.5 111.3 114.4 0.016 5
-----------------------------------------------------------------------
MW06-39D pending Dauntless
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MW06-40 0.49 1.5 1.5 50.3 51.8 0.014 5 Hornet
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MW06-41 0.61 4.6 4.6 36.6 41.1 0.018 15 Dauntless
0.73 1.5 1.5 56.4 57.9 0.021 5
0.51 1.5 1.5 67.1 68.6 0.015 5
-----------------------------------------------------------------------


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.

In the Enterprise Zone, previous drilling intersected 18.2 meters of 10 g/t gold, in what was thought to be a northwest striking fault. Current results suggest the zone is actually a northeast striking tabular body. The best intercept was in Hole MW06-33 which encountered 5.12 grams per tonne gold over a 3 meter true width. The zone is open along strike and at depth.

The results of three additional holes are pending from this phase of exploration. Since the start of the year, the Company has completed 38 reverse circulation and five core holes for a total of 43 holes (6463 meters). The program tested six gold zones. Gold was intersected in all of the zones. In this phase, the most significant zone, the Dauntless Zone was extended 200 meters along strike with five panels of drill holes. The zone appears to vary from 7 to 20 meters in true width and is composed of two to three distinct southwest dipping sub-parallel veins. In the Dauntless zone, the veins vary in grade from 1 to 40 grams/tonne gold, start within 50 meters of the surface, and are open along strike to the north and south.

The Enterprise and Cross zones each have been tested by at least five drill holes that have encountered veins with grade up to 30 g/t and 21 g/t gold. Limited gold was also encountered in the Hornet and Nautilus, and the 121 South zones. Midway is currently compiling the data in a 3D model to best determine how to conduct further exploration. 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 (877) 692-8288 (US toll-free)
    www.midwaygold.com