Drilling Indentifies New Zones Of Mineralization

 

DENVER, CO - Midway Gold Corp. reported drill results from its Gold Rock project, White Pine County, Nevada, which have identified several new zones of mineralization. Drilling highlights include: Ñ GR12-01c 83.3 meters of 0.89 grams per tonne (gpt) including: 1.2 meters of 3.53 gpt and 1.5 meters of 5.10 gpt; Ñ GR12-02c 9.1 meters of 3.26 gpt; Ñ GR12-03c 114.0 meters of 0.58 gpt; Ñ GR12-17 106.7 meters of 1.23 gpt including: 1.5 meters of 4.90 gpt, 1.5 meters of 7.44 gpt and 3.0 meters of 3.77 gpt.

Drilling at Gold Rock continues to confirm historic drill results. Additionally, step-out holes have been successful in identifying new extensions to the current gold mineralization with the goal of expanding the resource ahead of developing the mine plan at Gold Rock and beginning the formal permitting process. Our geologists have also identified a large number of nearby targets that warrant further drilling to test for additional upside potential,  commented Ken Brunk, President & CEO of Midway. The Company anticipates that Gold Rock will be the next project in our portfolio to go into production, following the construction and start-up of the Pan project.

Midway currently has one RC rig operating on the Gold Rock property. The Company has completed 11,872 meters of RC drilling and 1,634 meters of core drilling thus far in 2012. An additional 6,084 meters of RC is planned and drilling may extend into the beginning of 2013.