Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

April 19, 2007 08:30 ET

Midway Initiates Drilling on Pan Gold Project, Nevada

WHITE ROCK, BRITISH COLUMBIA--(CCNMatthews - April 19, 2007) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce the start-up of drilling at the Company's Pan Project, located on the Cortez Gold Trend, in White Pine County, Nevada. This Phase I exploration program includes 40,000 feet of reverse circulation drilling designed to expand the 2005 near surface oxide resource and test for new higher grade targets on the project. The estimated cost is approximately $1,000,000. The current resource reported by Pan-Nevada Gold Corporation ("Pan-Nevada") in a press release dated February 8, 2005 includes:

Measured and Indicated: 18.96 million tons of 0.019 ounces of gold per ton containing 361,400 ounces of gold plus an additional Inferred Resource of 8.3 million tons of 0.017 ounces of gold per ton containing 140,600 ounces of gold using a cutoff grade of 0.01 ounces per ton. A technical report estimating and supporting the resource and the project was completed to National Instrument 43-101 standards on January 15, 2005, by an independent consulting group, Mine Development Associates, in Sparks, Nevada. The report is filed under the Pan-Nevada SEDAR filings. The Pan property was the key asset in Midway's recent acquisition of Pan-Nevada.

Since the 2005 resource estimation, Pan-Nevada has drilled over 200 holes and discovered three new shallow oxide deposits outside the current resource. Midway's drilling is designed to expand these known deposits and test for new discoveries in large step-out extensions and higher-grade targets around this Carlin style gold system.

"We are pleased to expand our exploration program in Nevada to include the Pan project," says Alan Branham, President and CEO. "The Pan project allows us to add a large Carlin type sediment hosted gold deposit to our portfolio on the prolific Cortez Gold trend. We now have three expanding gold discoveries in Nevada." The Pan project is over nine square miles of unpatented mining claims now controlled by Midway. The project has a current Plan of Operation which allows for up to 25 acres of disturbance. Gold has been discovered in five deposits over a two mile strike length. The gold is disseminated along a faulted anticline in Mississippian shale and Devonian limestone.

Other Midway Exploration Activities

In addition to drilling at Pan, the Company is currently drilling on the Spring Valley and Midway projects to expand and develop previously announced gold discoveries. There are currently three drill rigs operating at Spring Valley and one at Midway. The Company now controls a total of nine gold projects, located in Nevada, on four different major gold trends. 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 new large, high-grade gold and silver resources in stable mining areas.

ON BEHALF OF THE BOARD

Alan Branham, President and CEO

Forward-Looking Statements

Certain information set forth in this press release, including management's assessment of plans and projects, contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including: the results of exploration activities; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, prefeasiblity and feasibility studies, market reaction to future exploration results; the Company's anticipated strategies for growth; the results from future exploration opportunities; the price of metals; currency fluctuations; increases in costs; general market and industry conditions; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, and other factors.

Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, programs and financial position could differ materially from those expressed in or implied by these forward-looking statements, and, accordingly, no assurance can be given that the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits will derive there from. Midway Gold Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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

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