MIDWAY GOLD CORP.
Unit 1 - 15782 Marine Drive
White Rock, B.C., Canada V4B 1E6
Tel: (877) 475-3642
May 1, 2008
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TSX Venture Exchange
Symbol: MDW
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American Stock Exchange Symbol: MDW
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MIDWAY HITS HIGH GRADE GOLD AT THUNDER MOUNTAIN
Midway Gold Corp. (the “Company”)
is excited to announce new gold intercepts from 2008 drilling at the Thunder
Mountain project, Nevada. Fire assay results for four holes totaling
1,120 feet drilled this year have been received and include 10 feet of 0.389
ounces per ton (opt) gold within 40 feet of 0.135 opt gold
in drill hole TM08-09. The true thicknesses of these intercepts are estimated
to be 5.5 and 17.5 feet respectively.
These intercepts were in the
Beckie vein, approximately 50 to 100 feet northwest of 2007 drill holes TM07-04,
which contained 5 feet of 1.187 opt gold within 20 feet of 0.342 opt
gold, and TH-27 which encountered 10 feet 1.93 opt gold in 30
feet of 0.705 gold. The 2008 drilling demonstrates that the high grade zone
remains open to the northwest.
TM08-10, returned 15 feet of
0.036 opt gold with 5 feet of 7.4 opt silver at the top of the
interval. Two other holes were drilled above and below the mineralized horizon
and returned no significant intercepts.
Gold
and silver assays are 30g fire assays conducted by SGS labs in Ontario, Canada.
Reverse circulation drilling was conducted by Eklund Drilling of Elko, Nevada.
Thunder Mountain is an emerging
epithermal gold district located six miles southeast of the Company’s
Midway project, which hosts a series of high grade epithermal
quartz-adularia-gold veins. In January 2008, the Company submitted a Plan
of Operations to the Bureau of Land Management (BLM) and the Nevada Division of
Environmental Protection (NDEP) for an underground mining operation at Midway.
Thunder Mountain will be explored while underground development proceeds at
Midway. Potential future development at Thunder Mountain is expected to benefit
from and complement mining at Midway.
Midway Gold Corp. is a precious metals exploration company,
listed on the American Stock Exchange and on the TSX Venture Exchange under the
symbol “MDW.” Midway’s focus is creating value for
shareholders through the discovery and development of quality new precious
metal resources in politically stable mining areas. The Company has three
advance stage gold exploration projects and four early stage exploration
project that control over 60 square miles of mineral rights along four major
gold trends in Nevada. Additional information on Midway Gold Corp and these
projects can be found 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.
ON BEHALF OF THE BOARD
“Alan Branham”
______________________________
Alan Branham, President and CEO
For further information,
please contact Morgan Moffatt, Investor
Relations Manager at Midway Gold Corp at (877) 475-3642, Ext. 14 (toll-free).
The TSX Venture
Exchange has not reviewed and does not accept responsibility for the adequacy
or accuracy of this release. 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.
Morgan T. Moffatt
Investor Relations Manager
Midway Gold Corp.
www.midwaygold.com
(877) 475-3642 ext.14
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