Midway Gold Corp V.MDW

MIDWAY REQUESTS AUTHORIZATION TO SELL 100% OF SPRING VALLEY

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DENVER, CO – October 16, 2015– Midway Gold Corp.’s subsidiary, Midway Gold US Inc. (the “Company” or “Midway”), has filed a complaint in United States Bankruptcy Court for the District of Colorado (the “Court”), where it filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code on June 22, 2015, seeking authority under Section 363(h) of the Bankruptcy Code to sell 100% of the assets of a joint venture known as Spring Valley located in Pershing County, Nevada. Midway’s partner in the joint venture is Barrick Gold Exploration, Inc. (“Barrick”). Midway is requesting the Court to authorize Midway to sell the entire Spring Valley property on behalf of both Barrick and Midway, as well as enjoining Barrick from pursuing an independent sale of its ownership interest in the joint venture. Midway believes that such a sale provides the best path to maximize the value of its interest in Spring Valley.

Additional information and other materials related to the restructuring, including documents filed with the Court regarding the matters referenced above, are available at https://dm.epiq11.com/MidwayGold.