Midway Gold Corp.

Midway Gold Corp.

September 18, 2007 08:00 ET

New Discovery Continues to Expand Gold at Midway's Pan Project in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2007) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW) is pleased announce a new gold zone discovery at the Barite target that continues to expand the gold potential on the 13 square mile Pan project.

Surface mineralization in drill hole PN07-50 returned 10 feet of 0.117 opt (ounces per ton) gold within a zone of 85 feet of 0.036 opt gold (See table below). This intercept potentially expands the South Pan gold zone over 450 feet to the southeast (See attached map and section; to view please click on the following link: http://www.ccnmatthews.com/docs/MapandSection_mdw.pdf).

"This new discovery is shallow, high grade, and is wide open in three directions. This latest discovery continues to validate our expectations that the Pan gold deposits can be expanded and improved with continued exploration," said Midway's President and CEO, Alan Branham. "The Pan Project continues to excite us and is proving to be a significant project for the Company. This latest discovery, similar to the other discoveries made this summer, remains open and has significant potential for continued expansion. In addition to the Barite discovery our team is exploring eight new gold targets outside the known resource on this project."

Gold Interval From To TD Gold Interval From To
Hole ID opt feet feet feet gm/t meters meters
PN07-50 0.036 85 0 85 400 1.23 25.9 0 25.9
including 0.117 10 40 50 4.01 3.0 12 15

Assays are 30g fire assays conducted by ALS Chemex labs in Sparks, Nevada and SGS Inc., in Toronto Canada. Reverse circulation drilling was conducted by Drift Exploration of Alberta, Canada. Drilled intervals are true widths. Intercepts reported include greater than 10 feet grading 0.010 opt gold. Two additional holes, approximately 400 and 1,000 feet south of PN07-50, did not have significant intercepts. All intercepts are oxide, unless noted.

Testing of exploration targets includes reverse circulation drilling, soil sampling and geologic mapping. During 2007, Midway has drilled 27,960 feet (8,519 meters) in 87 reverse circulation holes at Pan. Assays are pending for 28 holes. Over 5,900 soil samples have been collected, including a 200 by 200 foot grid over the Barite target. The soil sampling assay results are currently pending at ALS-Chemex Laboratory.

In addition to the Barite discovery, Midway has received drill hole assays from three other exploration areas. Drilling on the Basin target (west of South Pan) hit 20 feet of 0.027 opt gold in PN07-34. Preliminary drilling on the Middle Pan target encountered 55 feet of 0.011 opt gold in hole PN07-18. An additional 3 holes have been completed to follow up on these results. Drilling on the Central Pilot target found no significant gold. Locations of these targets can be found on the Company's website at www.midwaygold.com.

Gold Interval From To TD Gold Interval From To
Hole ID opt feet feet feet gm/t meters Meters
PN07-34 0.027 20 375 395 500 0.93 6.1 114.3 120.4 Basin
PN07-18 0.011 55 330 355 600 0.51 7.6 100.6 108.2 Middle Pan

The Pan project is located on the south end of the prolific Battle Mountain-Eureka gold trend in central Nevada. The project hosts four known Carlin-style disseminated oxide gold deposits over a two mile strike length along the Pan fault. The Company acquired the property in 2007 and is continuing the drill program.

Other Nevada exploration projects

The Company is currently exploring the Spring Valley project (Nevada) with three drill rigs. 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 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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