Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

September 12, 2007 08:01 ET

Midway Intercepts 55 Feet of 0.203 opt Gold at Spring Valley Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2007) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) announces more gold intercepts in the North Hill and Porphyry zones on its Spring Valley project, Nevada. High grade intercepts include 5 feet of 2.02 opt (ounces per ton) gold within 55 feet of 0.203 opt gold in SV07-283 and 5 feet of 0.65 opt gold within 155 feet of 0.034 opt gold in SV07-310.

In-fill drilling between the Porphyry and Pond zones is merging the individual discoveries into a single larger gold deposit. Results from drill holes SV07-310, 267, 268, and 279 extend known mineralization 200-300 feet west along the west side of the Spring Valley gold resource. Assays are pending for three other holes. On the east side of the Porphyry zone, SV07-311 encountered 175 feet of 0.044 opt gold. This hole was 200 feet west of SV07-263 which had a previously reported intercept of 65 feet of 0.090 opt gold.

Drilling along the North Hill fault continues to encounter good gold grades. Deeper zones include the 55 feet of 0.203 opt gold in SV07-283. Shallow gold along the fault was expanded by intercepts such as 95 feet of 0.026 opt gold in SV07-283 and 45 feet of 0.023 opt gold in SV07-287. A new gold zone north of the North Hill fault zone was discovered in SV07-276 and 277. Additional drilling is underway to further define the size and grade of the gold zones in the North Hill area. Assays are pending for four other holes.

Selected holes from recent drilling are reported in the table below. These include 6 of 11 recent holes in the North Hill zone and 4 of 7 recent holes in the Porphyry zone. NOTE: To view the map associated with this release, please click the following link: http://www.ccnmatthews.com/docs/mdw0911.jpg



Porphyry Zone - Selected Drill Hole Intercepts

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Hole ID Gold Interval From To Assay Gold Interval From To
opt feet Feet Type gm/t meters meters
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SV07-267 0.020 30 555 585 MS 0.69 9.1 169 178
0.011 115 730 845 MS 0.38 35.1 223 258
0.012 30 865 895 MS 0.41 9.1 264 273
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SV07-268 0.030 90 195 285 MS 1.03 27.4 59 87
Includes 0.236 5 MS 8.09 1.5
0.026 40 310 350 MS 0.89 12.2 94 107
0.021 195 390 585 MS 0.72 59.4 119 178
includes 0.172 5 MS 5.90 1.5
0.024 150 670 820 MS 0.82 45.7 204 250
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SV07-279 0.018 55 215 270 MS 0.62 16.8 66 82
0.016 15 445 460 FA 0.55 4.6 136 140
0.041 125 485 610 FA 1.41 38.1 148 186
includes 0.115 25 FA 3.94 7.6
0.015 10 665 675 FA 0.51 3.0 203 206
0.114 5 695 700 FA 3.91 1.5 212 213
0.021 65 740 805 FA 0.72 19.8 226 245
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SV07-310 0.105 5 620 625 FA 3.60 1.5 189 191
0.075 5 730 735 FA 2.57 1.5 223 224
0.034 155 755 910 FA 1.17 47.2 230 277
includes 0.106 5 FA 3.63 1.5
and 0.655 5 FA 22.46 1.5
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SV07-311 0.044 175 360 535 FA 1.51 53.3 110 163
includes 0.204 5 FA 6.99 1.5
and 0.285 5 FA 9.77 1.5
0.041 5 585 590 FA 1.41 1.5 178 180
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North Hill Zone - Selected Drill Hole Intercepts

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Hole ID Gold Interval From To Assay Gold Interval From To
opt feet Feet Type gm/t meters meters
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SV07-276 0.020 5 420 425 MS 0.69 1.5 128 130
0.024 5 625 630 FA 0.82 1.5 191 192
0.021 15 720 735 FA 0.72 4.6 219 224
0.026 10 825 835 FA 0.89 3.0 251 255
0.363 10 940 950 FA 12.45 3.0 287 290
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SV07-277 0.041 5 650 655 MS 1.41 1.5 198 200
0.032 60 695 755 FA 1.10 18.3 212 230
includes 0.060 20 FA 2.06 6.1
0.031 5 845 850 FA 1.06 1.5 258 259
0.082 5 865 870 FA 2.81 1.5 264 265
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SV07-283 0.026 95 145 240 MS 0.89 29.0 44 73
includes 0.183 5 MS 6.27 1.5
0.203 55 625 680 MS 6.96 16.8 191 207
includes 2.021 5 MS 69.29 1.5
0.013 45 740 785 MS 0.45 13.7 226 239
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SV07-287 0.030 45 130 175 FA 1.03 13.7 40 53
includes 0.216 5 FA 7.41 1.5
0.081 5 205 210 FA 2.78 1.5 62 64
0.039 5 645 650 FA 1.34 1.5 197 198
0.183 5 790 795 FA 6.27 1.5 241 242
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SV07-288 0.044 5 460 465 FA 1.51 1.5 140 142
0.032 10 565 575 FA 1.10 3.0 172 175
0.019 50 610 660 FA 0.65 15.2 186 201
0.066 5 695 700 FA 2.26 1.5 212 213
0.013 45 750 795 FA 0.45 13.7 229 242
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SV07-289 0.038 40 520 560 FA 1.30 12.2 158 171
includes 0.212 5 FA 7.27 1.5
---------------------------------------------------------------------------


Reverse circulation drilling was conducted by O'Keefe Drilling of Butte, Montana and Eklund Drilling of Elko, Nevada. Intervals with quartz veining, strong alteration, visible gold, or anomalous 30 gram fire assays are re-assayed using 1000 gram metallic screen fire assays by ALS-Chemex labs, in Sparks, Nevada. All sampling was conducted by independent contractors hired by Midway Gold Corporation. Results reported represent thickness along the trace of the drill hole. True thickness of these intercepts has not yet been determined.

"We are excited that our drilling at Spring Valley continues to find more gold and that our individual discoveries are merging together into a single larger gold deposit," stated Alan Branham, President and CEO of Midway Gold Corp. "Gold appears to be continuous between the high grade Porphyry and Pond zones despite changes in the geologic hosts. While we drill to better define the size and grade of these zones, we also have drills testing the deep porphyry discoveries and extensions of the West Diatreme zone."

Spring Valley is a diatreme hosted gold system completely covered by gravel pediment. The original discovery was called the Pond Zone. The gold deposit was expanded when the company discovered the Porphyry and Sill Zones in 2005 and the West Diatreme and North Hill Zones in 2006. Currently known gold zones cover an area 3500 feet long by 3500 feet wide and extend from 50 to 1450 feet in depth. Large areas of the pediment cover have not yet been drill tested. Deep core drilling has intercepted gold hosted by quartz veins in porphyry intrusives below the diatreme.

Midway Gold currently has 3 drill rigs operating at Spring Valley to delineate and expand the diatreme and porphyry gold systems. The company has identified twelve additional exploration targets at Spring Valley. Initial drilling on the Limerick target intercepted shallow, coarse gold mineralization. Drilling on the American Canyon target intercepted a possible sediment hosted silver system. Exploration is underway to define additional drill targets for testing later this year.

In other Nevada exploration projects

The Company is currently exploring the Pan and Afgan projects (Nevada). Geotechnical studies are underway at the Midway project (Nevada) to evaluate underground mining potential.

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.

This release has been reviewed and approved by Craig Stiles, (M.Sc. 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

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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