Midway Gold Corp.

Midway Gold Corp.

November 27, 2007 08:00 ET

Midway Hits Shallow Gold in the Nana Zone, 4000 Feet Northwest of the Pan Deposit, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 27, 2007) - Midway Gold Corp. (TSX VENTURE:MDW) is pleased to announce significant shallow gold intercepts in the Nana Zone (formerly NW Zone), approximately 4,000 feet northwest of the current Pan resource. Significant intercepts were encountered at or near the surface in holes PN07-103 with 65 feet of 0.021 opt gold (ounces per ton), PN07-107 with 55 feet of 0.028 opt gold, and PN07-108 with 50 feet of 0.021 opt gold.

These intercepts are part of a 19-hole second round of drilling at the Nana Zone, with selected intercepts shown in the table below. These holes follow up drilling completed earlier this year, which encountered a previously reported intercept of 65 feet of 0.048 opt gold. Additionally, there are seven holes completed by previous operators that intercepted near-surface gold with an average grade of 35 feet of 0.026 opt gold.

Seventeen holes in the Nana Zone have encountered gold to date. Gold occurs along northeast trending faults at the Pilot Shale-Devils Gate Limestone contact, in a geologic setting similar to the North Pan deposit.

"Pan continues to show systematic growth as we step-out and explore these new discoveries, with the Nana zone still open to the north and west," says Alan Branham, President and CEO. "We have plans to more aggressively explore these new shallow oxide gold discoveries in the New Year."

Selected drill hole intercepts from the Nana Zone, Pan Project, Nevada

Gold Interval From To TD Gold Interval From To
Hole ID opt feet feet Feet gm/t meters Meters
PN07-96 0.018 10 15 25 300 0.62 3.0 4.6 7.6
PN07-103 0.021 65 0 65 200 0.72 19.8 0.0 19.8
0.015 20 180 200 0.51 6.1 54.9 61.0
PN07-107 0.028 55 105 160 300 0.96 16.8 32.0 48.8
PN07-108 0.021 50 70 120 300 0.72 15.2 21.3 36.6
PN07-109 0.030 10 105 115 200 1.03 3.0 32.0 35.1

Previously Reported
PN07-21 0.048 65 20 85 300 1.65 19.8 6 26
PN07-22 0.032 25 0 25 250 1.10 7.6 0 8

Assays are 30g fire assays conducted by ALS Chemex labs in Sparks, Nevada.
Reverse circulation drilling was conducted by O'Keefe Drilling, Butte,
Montana. Drilled intervals are true widths. Intercepts reported include
greater the 10 feet grading 0.010 opt gold. Fourteen additional holes
drilled at Nana, did not have significant intercepts. All intercepts are
oxide, unless noted.

The Pan project is located on the south end of the prolific Battle Mountain-Eureka gold trend in central Nevada. The project hosts Carlin-style disseminated oxide gold deposits over a two mile strike length along the Pan fault. The Company drilled 35,310 feet (10,762 meters) in 112 reverse circulation holes at Pan this year. All assays are complete and drilling has been concluded for the 2007 drilling season.

Midway Gold Corp. is focused on expanding and developing its three significant projects including their flagship resource, the Spring Valley deposit, along with its Midway and Pan deposits; all three of which are situated along major gold 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 Don Harris (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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