Pan-Nevada Gold Corporation
TSX VENTURE : PNV

Pan-Nevada Gold Corporation

April 11, 2007 21:17 ET

Pan-Nevada Shareholders Approve Arrangement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 11, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Pan-Nevada Gold Corporation (TSX VENTURE:PNV) ("Pan-Nevada") is pleased to announce its shareholders have voted in favour of the proposed Plan of Arrangement with Midway Gold Corp. (TSX VENTURE:MDW) ("Midway"). Greater than 99% of the votes cast at Pan-Nevada's meeting voted in favour of the Plan of Arrangement.

Under the Plan of Arrangement, shareholders of Pan-Nevada will receive one Midway share for every 3.5714 Pan-Nevada share held by them (or 0.28 of a Midway share per Pan-Nevada share).

Midway 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 high-grade, quality precious metal resource in stable mining areas. Details of Midway's projects are available on its website at www.midwaygold.com.

Pan-Nevada is a junior gold exploration company, listed on the TSX Venture Exchange under the symbol "PNV", which focuses on acquiring and exploring precious metal projects in Nevada. Pan-Nevada is headquartered in Vancouver, British Columbia, Canada with an operations office in Evergreen, Colorado, USA. Details of Pan-Nevada's projects are available on its website at www.pannevada.com.

ON BEHALF OF THE BOARD OF PAN-NEVADA GOLD CORPORATION

John E. Watson, President & Director

"Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Pan-Nevada Management Information Circular prepared in connection with the transaction, any information released or received with respect to the Arrangement may not be accurate or complete and should not be relied upon. Trading in the securities of the above companies should be considered highly speculative."

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

Contact Information

  • Pan-Nevada Gold Corporation
    Mr. John E. Watson
    President & Director
    (303) 674-9400
    (303) 679-3018 (FAX)
    Website: www.pannevada.com