Spring Valley 24.4(m) @ 3.29 g/t Midway Cuts 24.4 Metres Grading 3.29 g/t Gold at Spring Valley
Tuesday December 6, 2:00 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 6, 2005) - Midway Gold Corp. (the "Company") (TSX VENTURE:MDW - News) is pleased to report the ongoing drill program continues to successfully expanded both the Porphyry and Sill zones on the Spring Valley project in Pershing County, Nevada.
The latest results from twelve new holes include 15.2 metres grading 4.66 grams gold per tonne and 13.7 metres grading 3.36 grams gold per tonne on the Sill zone. Drilling continues to test the expansion of the Porphyry and newly discovered Valley Breccia zones. Visible gold is present in holes testing the Porphyry target; assays results are pending.
"Midway has retained AMEC, of Phoenix, Arizona to conduct a preliminary resource calculation of the Pond, Porphyry, and Sill zones, beginning in January, 2006," says Alan Branham, President and CEO of Midway. "Though these zones are still open in several directions, we need to determine how much gold has been delineated in this past year's work."
Details can be reviewed at www.midwaygold.com/SpringValley.htm.
Exploration Activities
Currently, Midway is conducting a 20 hole (3000m) reverse circulation drill exploration program on its Midway project, near Tonopah, Nevada. Follow-up drilling has begun to test the extent of the new Dauntless zone, which recently encountered 53.3 metres of 11.97 g/t gold. The first hole of this program in the Dauntless zone, has been completed and visible gold was noted. The Dauntless Zone is interpreted to be a potential feeder fault to the Discover Zone, where intercepts of up to 30.5 m of 18.2 g/t gold were encountered in hole MW221.Three other new exploration targets will be tested at the Midway Project during this exploration phase. The targets are all shallow high-grade quartz adularia stock-works replacements and veins that could provide a quick profitable return on investment. The Midway project is favourably located halfway between the Round Mountain and Goldfield gold districts in south central Nevada. Details for the Midway project can be viewed at: www.midwaygold.com/Midway.htm.
Midway Gold Corp. 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 aggressively exploring and developing high-grade, quality precious metal resources in stable mining areas. Details of Midway Gold's projects are available on the Company's website at www.midwaygold.com.
This release has been reviewed and approved by Company President and CEO Alan Branham (P.Geol.), a "qualified person" as that term is defined in National Instrument 43-101.
ON BEHALF OF THE BOARD
Alan Branham, President and CEO