Midway Reports Excellent Q2 Drill Results at Spring Valley, Nevada

Midway Reports Excellent Q2 Drill Results at Spring Valley, Nevada

Including 113 Meters of 4.53 Grams per Tonne Gold

DENVER--(BUSINESS WIRE)-- Midway Gold Corp. ("Midway" or the "Company") (TSX:MDW) (NYSE-MKT:MDW) announces that Barrick has completed their planned 2013 drilling program ahead of schedule at the Spring Valley Project in Nevada. Barrick Gold Exploration Inc. ("Barrick") is earning into the project. Development drilling, designed to upgrade the quality of the resource, continued to produce excellent intercepts. Assay results are still pending for 20 of the holes reported here. Recent drilling highlights include:

SV13-625

• 113 meters of 4.53 grams per tonne (gpt) gold including 9 meters of 15.81 gpt gold, 18 meters of 9.5 gpt gold and 8 meters of 12.86 gpt

• 102 meters of 3.15 gpt gold including 1.5 meters of 62.19 gpt gold and 1.5 meters of 46.80 gpt gold

SV13-629

• 56 meters of 1.51 gpt gold including 1.5 meters of 27.7 gpt gold

• 55 meters of 1.10 gpt gold including 1.5 meters of 5.45 gpt gold

SV13-630

• 32 meters of 1.41 gpt gold

SV13-633

• 53 meters of 0.99 gpt gold including 1.5 meters of 6.03 gpt

• 21 meters of 1.3 gpt gold including 1.5 meters of 9.43 gpt gold

• 58 meters of 0.75 gpt gold including 1.5 meters of 9.29 gpt gold

SV13-640

• 23 meters of 1.41 gpt gold

• 20 meters of 1.41 gpt gold including 1.5 meters of 9.36 gpt gold

SV13-646

• 34 meters of 1.03 gpt gold including 1.5 meters of 6.27 gpt gold and 1.5 meters of 6.48 gpt gold

• 90 meters of 1.41 gpt gold including 1.5 meters of 8.85 gpt gold and 1.5 meters of 8.88 gpt gold

Table 1 lists Spring Valley's drill results for the second quarter as calculated by Midway from Barrick's data. The map below in Figure 1 shows locations for drill holes listed in Table 1.

Development Drilling

The 2013 drilling program is complete for the year with a total of 11,996 meters in 24 RC holes and 8,840 meters in 26 core holes. Development drilling in the resource area is focused on upgrading the quality of the resource for future reserve calculations. Additional expansion potential remains at depth and to the north of the deposit.

Earn-In

Barrick reported in April that they had exceeded the cumulative expenditure requirement of $30M to earn a 60% interest in the property. They also exercised their option to spend an additional $8 million to earn a 70% interest. At the current rate of expenditure, Midway continues to anticipate that Barrick will complete the cumulative expenditure of $38 million to earn a 70% interest in the project by the end of 2013.

Table 1.Gold Intercepts from Drill Holes included in Barrick's Q2 Report 2013
Spring Valley Project, Nevada

(Calculated by Midway from data provided by Barrick)