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Midway Gold Corp.

Publié le 02 avril 2015

Midway Ramps Up Gold Production At Pan Mine And Provides Operations Update

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Midway Ramps Up Gold Production At Pan Mine And Provides Operations Update

MIDWAY RAMPS UP GOLD PRODUCTION AT PAN MINE AND PROVIDES OPERATIONS UPDATE

DENVER, CO - April 2, 2015 - Midway Gold Corp. (TSX and NYSE-MKT: MDW) (the "Company" or "Midway") is pleased to announce that a second gold pour at the Pan Gold Mine ("Pan") in Nevada was achieved Monday, March 30. Today, we provide an update on the status of the operations at Pan, our current financial position and an outlook for 2015.

March in Review

Our first gold pour was completed 20-days after commissioning of process facilities and our second pour was completed by month's end as planned.

We actively managed our project working capital needs to reach first gold pour and generation of revenue without the need for external financing.

Separately, we do still expect a requirement by our lender to fund working capital contingencies and we are in negotiations to secure financing.

Pan Operations

With gold loading on carbon, we are in the process of dialing in the efficiency of our carbon stripping and electro-winning circuit as we fully commission and operationalize this part of the ADR Plant. March production was about 500 ounces and sales totaled about $600,000. In April, we expect efficiencies to improve as we ramp up gold production. At the end of last week, March 27th, our operating metrics are as follows:

Approximately 3.4 million tons of ore have been stacked on the leach pad.

Currently, about 2.6 million tons are under leach.

We expect to add an additional 5.9 million tons of ore to the leach pad through the remainder of this year.

Mining operations have performed above expectations and Ledcor, our mining contractor, has continued to provide excellent support to the project.

The estimated cost to complete construction of the Pan Mine is maintained at

$84 million with $78.8 million spent as of the end of February.

April 2, 2015

Modeling Studies

Studies are ongoing to review resource modeling, ore control practices (including blast hole sampling), and assaying practices throughout startup of heap leach operations. Previously, we announced that we engaged an independent engineering firm to evaluate our practices, identify potential sources of observed variances, and inform appropriate next steps. We expect this review will take several weeks to complete.
We are committed to providing a thorough update as soon as we have concluded our current studies.

Pan Financing

In early March, we provided an update on our financial position in light of challenges associated with covenants, financial tests, and obligations to our lender. Since then, we have been successful in actively managing our capital needs to reach first gold pour and the generation of cash flow. We have demonstrated our ability to meet a Q1 production target and to manage our capital needs internally to achieve this important milestone.
With regard to compliance with our debt facility, we are still expecting a requirement to fund additional working capital as we continue to work through a credit agreement amendment that is expected to address timing and funding of reserve accounts, restructure of loan payment terms and funding of corporate expenditures. The Company is pursuing non-dilutive sources of financing, which we believe are reasonable and likely to materialize.

A Path Forward in 2015

While we have experienced challenges in development of our first mine, we remain encouraged by the daily progress and achievement of the major milestone of becoming a gold producer. To ensure quality in reporting, we expect to provide formal 2015 production and cost guidance after we have concluded modeling studies at Pan.
We have a number of programs planned or in place this year to confirm or expand on current information. On March 10th, we began a reverse circulation (RC) infill drill program on March 10, 2015. The RC program will include 10,500 feet (approximately 30 holes less than 500 feet deep) of drilling with expected completion of the drilling phase by the end of April. This focused drilling program will also allow us to test and confirm material in the South Pan pit and will support on-going operations and planning.
We also have plans to execute an exploration drill program this year to target possible expansion of the resource at South Pan. Planned leach pad expansion this year is on schedule to increase capacity from approximately 8 million tons to 20 million tons by Q4.

About Midway Gold Corp.

2

April 2, 2015

Midway Gold Corp. is a Denver-based precious metals company with a vision to explore, design, build and operate gold mines in a manner accountable to all stakeholders while seeking returns for shareholders. Our three core projects are located in Nevada and include the newly producing Pan Mine, the Gold Rock project in federal permitting, and Spring Valley currently in pre-feasibility and joint-ventured with Barrick Exploration Inc.
Midway Gold Corp.
Jaime Wells, 720-979-0900
Investor Relations www.midwaygold.com

Neither the TSX Exchange, its Regulation Services Provider (as that term is defined in the policies of the

TSX Exchange) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to, statements about the Company's intended financing plans, prospects for success regarding any financing plans, negotiation of credit agreement amendment, prospects that financing alternative will be non- dilutive, expectations concerning financing contingencies, expected additions of ore tons for the year, performance of mining contractor, anticipated production and gold pours, estimated construction costs for the Pan Mine, timing of production and cost guidance, planned drilling programs, work plans, milestones, and other statements, estimates or expectations. Forward-looking statements are typically identified by words such as: "may", "should", "plan", "believe", "predict", "expect", "anticipate", "intend", "estimate", postulate", "target" and similar expressions or the negative of such expressions or which by their nature refer to future events. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. There can be no assurances that our pursuit of non-dilutive sources of financing successful and no assurance that we will be successful in negotiating a credit agreement amendment or remain in compliance with its terms.. Other risks, uncertainties and factors include, without limitation, risks related to the timing and completion of the Company's intended work plans, potential delay of material deliveries, ability to meet debt covenants and obligations, risks related to fluctuations in gold prices; uncertainties related to raising financing in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in modeling, the interpretation of drilling results and other tests and the estimation of gold resources and reserves; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates and grades may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; changes in interest and currency exchanges rates; local and community impacts and issues; environmental costs and risks; and other factors identified in the Company's SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change. Although the Company believes that such forward-looking statements are reasonable, it can give

3

April 2, 2015

no assurance that such expectations will prove to be correct. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward looking statements.

4

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Midway Gold Corp.

EXPLORATEUR
CODE : MDW.TO
ISIN : CA5981531042
CUSIP : 598153104
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Midway Gold est une société développant des projet miniers d'or basée au Canada.

Midway Gold détient divers projets d'exploration en USA.

Ses principaux projets en exploration sont BURNT CANYON, ROBERTS GOLD, GOLD ROCK, THUNDER MOUNTAIN, MIDWAY, PAN, SPRING VALLEY et GOLDEN EAGLE en USA.

Midway Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 16,2 millions CA$ (12,5 millions US$, 11,3 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2008 à 4,68 CA$, et son plus bas niveau récent le 28 juillet 2015 à 0,01 CA$.

Midway Gold possède 180 224 000 actions en circulation.

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Rapports annuels de Midway Gold Corp.
2007 Annual Report
Financements de Midway Gold Corp.
11/02/2011Accelerates Expiry date of Warrants
14/10/2009Private Placement of Up To Cdn$10.0 MM
14/05/2009warrants exercised - debt retired
13/06/2008Barrick steps up as Midway Closes private placement
16/05/2008Private Placement
14/11/2007Over 900,000 Midway warrants exercised
30/08/20075.4m private placement finalized...read the PR
24/08/2007Closes $5.4 Million Financing With Resolute Performance Fund
17/05/2007Warrants Excercised-$4.7 million proceeds
Attributions d'options de Midway Gold Corp.
08/01/2009Options Granted
Nominations de Midway Gold Corp.
22/03/2011– CFO change
05/11/2007's New Executive Appointments
27/04/2007Appoints New Board Members
Projets de Midway Gold Corp.
04/06/2013(Pan)\222s Pan Project R...
27/03/2013(Pan)Pan Project Receives Key Permit
05/04/2011(Midway)Announces Initial Underground Resource for Midway Project, N...
04/04/2011(Pan)Announces Positive Prefeasibility Study for Pan Gold Project...
29/03/2011(Gold Rock)Provides Initial Evaluation of the Gold Rock Project, Nevada
24/02/2011(Spring Valley)Adds 1.8 km of Potential Strike Length at Spring Valley Proj...
17/02/2011(Midway)Signs Cooperative Agreement with Town of Tonopah
19/02/2011(Gold Rock)Responds to BCSC Comments on Technical Disclosure
19/02/2011(Midway)Responds to BCSC Comments on Technical Disclosure
19/02/2011(Pan)Responds to BCSC Comments on Technical Disclosure
05/02/2011(Pan)Begins Drill Program at Pan Gold Project, Nevada
20/07/2010(Pan)Preliminary Economic Assessment results
05/11/2009(Pan)s NI 43-101 Gold Resource at Pan Project, Nevada
05/08/2009(Golden Eagle) Files NI 43-101 Technical Report for Gold Resource at Golde...
26/06/2009(Golden Eagle)NI 43-101 Gold Resource at Golden Eagle Project
02/03/2009(Spring Valley)1.8 Million Ounce Gold Resource at Spring Valley Project, Ne...
02/03/2009(Spring Valley)Announces 1.8 Million Ounce Gold Resource at Spring Valley P...
26/01/2009(Midway)Announces Project Updates and Plans for 2009
21/01/2009(Midway)Kinross completes initial drilling at Midway's Thunder Mount...
19/01/2009(Spring Valley)Spring Valley Project, Nevada Deep Core Results and Update
09/07/2008(Pan)Finds Near Surface High Grade Gold at Pan Project
23/06/2008Intercepts High-Grade Intervals within 135 ft of 0.086 OPT G...
14/05/2008(Midway)Announces High Grade Gold at Midway Project, Nevada
01/05/2008(Thunder Mountain) announces High Grade Gold at Thunder Mountain Project
21/04/2008(Midway)Test Results at Midway Project, Nevada Indicates 94% Gold Re...
10/04/2008(Spring Valley)UPDATES ON DRILLING IN SPRING VALLEY GOLD PROJECT, NEVADA
11/03/2008Announces Land Expansion of Gold Rock Project in Nevada
21/02/2008(Afgan)Announces Drill Results from Afgan Project
21/01/2008Announces Initiation of Project Permitting
09/01/2008(Spring Valley)Encounters 10 Feet 1.15 Ounce Per Ton Gold at Spring Valley,...
18/10/2007(Thunder Mountain) Hi Grade Found at Thunder Mountain
23/07/2007(Spring Valley)Announces High Grade Gold Intercepts
28/02/2007(Midway)New Gold Intercepts at Midway Project
07/02/2007(Spring Valley)Reports Spring Valley Drill Results
Communiqués de Presse de Midway Gold Corp.
29/01/2016Midway Gold Welcomes Matt Goldfarb As New Director
22/06/2015IIROC Trading Halt - MDW
22/06/2015Midway Gold Corp. Announces Filing Of Voluntary Petition For...
19/06/2015Midway Announces Reduction In Workforce
14/05/201510-Q for Midway Gold Corp.
05/05/201510-K for Midway Gold Corp.
20/04/2015Midway Secures Financing For Pan Mine And Provides Update Of...
02/04/2015Midway Ramps Up Gold Production At Pan Mine And Provides Ope...
01/04/2015Gold Investment Letter New Blog Report: Midway Gold: There's...
30/03/2015Midway Announces Planned Close Of Public Comment For Draft E...
27/03/2015Midway Announces Planned Close of Public Comment for Draft E...
27/03/2015Midway Pours First Gold at Pan Mine
17/03/2015Midway Gold Corp. (TSX and NYSE-MKT: MDW) (the "Company" or ...
17/03/2015Midway Announces 2014 Fourth Quarter Financial Results
04/03/2015Construction At Pan Gold Project Nears Completion; Midway Ex...
03/03/2015Construction at Pan Gold Project Nears Completion Midway Exp...
25/02/2015Barrick Announces First Resource At Spring Valley Midway Pro...
25/02/2015Barrick Announces First Resource at Spring Valley
13/02/2015Midway Completes Draft Environmental Impact Statement for Go...
23/01/2015Midway Clarifies Growth in Resource Estimate at Spring Valle...
16/01/2015Midway Provides Construction Update for Pan Gold Project, Ne...
12/12/2014Midway Gold Welcomes William M. Zisch As CEO
09/12/2014Midway Reports Employment Inducement Award Pursuant to Secti...
02/05/2011(Spring Valley)Spring Valley, Nevada Gold Project Experiences Substantial R...
08/04/2011Builds Operations Team for Nevada Gold Projects
16/06/2010Closes C$6.6 Million Equity Placements
10/06/2010Increases Offering to C$6.6 Million
19/05/2010Hires Kenneth A. Brunk
28/04/2010Retains Windward Global
11/01/2010Join Midway Gold in Vancouver
23/12/2009Increases Board
24/08/2009Spring Valley Quarterly Update
11/03/2009Finalizes Joint Venture with Barrick at Spring Valley Projec...
24/11/2008Announces Director Changes
11/09/2008STRIKES PORPHYRY GOLD AT BIG LEAP ZONE SPRING VALLEY, NEVADA
06/08/2008featured in Hume Report
04/08/2008 Golden Eagle Property Acquired
30/07/2008Announces Director Retires
17/07/2008Golden Predator Mines Inc. and Midway Gold Corp. Announce Si...
16/07/2008Kinross Enters Option To Joint Venture Midway's Thunder Moun...
08/07/2008Drills to Connect Gold Discoveries at Spring Valley
30/05/2008agrees to acquire Gold Eagle Property from Kinross Gold
21/05/2008Additional Information on Junior Gold Market
04/04/2008Year end financial report
29/02/2008Announces 2008 Plans for Nevada
23/01/2008Increases Spring Valley Gold Resource
03/01/2008APPROVED FOR LISTING ON AMERICAN STOCK EXCHANGE
04/12/2007 GOLD INTERCEPTS EXPAND MIDWAY’S SPRING VALLEY DEPOSIT IN NE...
27/11/2007finds more gold at PAN Project
05/11/2007"We're doing everything right"/ Tonopah Times Newspaper Arti...
01/11/2007North Pan Deposit Extended 1000 Ft.!!
03/10/2007Broadcast to tens of millions around the world on CNBC
03/10/2007New drilling Encounters Higher Gold grades
24/09/2007Spring Valley Project Expanding
07/09/2007 New website
22/08/2007Sells Jessup Project
10/08/2007Extends Gold at South Pan Deposit
07/08/2007Extends Gold at Pan Project
10/07/2007Announces Drill Results at Spring Valley
06/06/2007Spring Valley Plan of Operation Approved
05/06/2007Announces New Gold Discovery at Pan Project
15/05/2007 with Six Drill Rigs on Nevada projects
19/04/2007Initiates Drilling on Pan Gold Project, Nevada
13/04/2007Completes Pan-Nevada Acquisition
20/02/2007Gold & Pan Nevada Sign Arrangement Agreement
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