Midway Gold Corp.
TSX VENTURE : MDW

Midway Gold Corp.

October 12, 2005 12:54 ET

Midway Receives Positive Metallurical Results at Spring Valley Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 12, 2005) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased to announce an update for the Spring Valley project, in Pershing Co., Nevada. Results from metallurgical bottle roll tests on the Spring Valley samples indicate the gold is amenable to cyanide recovery, even in the sulphide zones. Tests were conducted on 500 gram samples of -10 mesh coarse core rejects selected from oxide and sulphide gold-bearing zones. The tests were conducted at the metallurgical lab of a producing mine in Nevada belonging to a mid-tier gold producing company. Previous bottle roll tests of oxide samples from the Pond zone, conducted for Echo Bay by ALS-Chemex, in Sparks, Nevada, are also listed below.



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Preliminary Metallurgical Bottle Roll Results
Spring Valley Project, Nevada

Metallurgical Results 2005
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Midway Gold Assays Recovery from
Fire Met 96 hour Calculated
Drill Assay Screen bottle rolls Head Grade
Hole Target Au opt Au opt As Is -200mesh Au opt
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SV05-67c Porphyry
Zone Sulphide 0.033 0.051 80% 95% 0.058
0.066 0.053 62% 94% 0.056
0.033 0.057 61% 88% 0.037
SV05-68c Pond Zone Oxide 0.150 0.137 94% 91% 0.071

SV05-74 Sill Zone Oxide 0.069 0.051 40% 95% 0.038
(coarse
gold) 0.105 0.100 48% 95% 0.038
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Echo Bay Metallurgical Results 2002
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Recovery from
Gold Assays 144 hour Calculated
Drill Met Screen bottle rolls Head Grade
Hole Target Au opt As Is Au opt
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ESV-8 Pond Zone Oxide 0.041 98% 0.031
0.028 75% 0.021
0.015 76% 0.018
ESV-9 Pond Zone Oxide 0.044 92% 0.045
0.042 95% 0.097
ESV-10 Pond Zone Oxide 0.074 96% 0.050
ESV-11 Pond Zone Oxide 0.032 77% 0.039
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Samples were selected from drill sample rejects
(70% -10mesh) equals As is
Echo Bay samples were from reverse circulation holes.
Midway samples were from core holes


These results are consistent with occurrences of visible gold observed in drill core and RC cuttings. Gold forms as native gold coating the outside of pyrite grains and is not bound within the sulphide. This allows the leaching fluid to have access to the gold even in the sulphide zone. The lower recoveries in the Sill zone are may be due to the presence of coarse gold. This lower gold recovery may be due to incomplete cyanide dissolution, which is common for nuggets of gold. Additional metallurgical tests are planned at certified labs to verify these preliminary results and to address coarse gold recoveries at Spring Valley. Information for the Spring Valley project can be reviewed at Midway's website at: http://www.midwaygold.com/SpringValley.htm.

Current Exploration Activities

Midway is currently exploring with three drills at the Spring Valley and one drill at the Black Prince project, in Nevada. We plan to conduct additional drilling on the Midway project as soon as a drill is available. 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 high-grade, 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 Company President and CEO Alan Branham (P.Geol.), a "qualified person" as that term is defined in National Instrument 43-101. We seek Safe Harbour.

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 Toll Free: 1-877-692-8288 (US)
    www.midwaygold.com