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Share Name Share Symbol Market Type
Midway Gold Corp. TSXV:MDW TSX Venture Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.00 -

Midway Announces C$6 Million Offering of Units

28/05/2010 6:40pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OR ON U.S. NEWS WIRE SERVICES

Midway Gold Corp. ("Midway" or the "Company") (TSX VENTURE:MDW)(NYSE Amex:MDW)
announced today that it has filed a preliminary prospectus supplement to its
short form base shelf prospectus filed with the securities commissions in each
of the provinces of British Columbia, Alberta and Ontario, and a corresponding
shelf prospectus as part of an effective registration statement on Form S-3
filed with the U.S. Securities and Exchange Commission (the "SEC"), pursuant to
which it intends to offer up to 10,000,000 units at $0.60 per unit, each unit
comprising one common share and one half of one non-transferable common share
purchase warrant. Each whole warrant will entitle the holder to purchase one
common share of Midway at a price of C$0.80 per share for a period of 24 months
from the closing date.


Midway intends to use the net proceeds of the offering to advance its projects,
to fund its general and administrative costs (including property maintenance
fees) and for general working capital purposes.


Haywood Securities Inc. has been engaged as the agent (the "Agent") for the
offering and will receive a cash commission of 7% of the total gross proceeds
excluding proceeds raised from purchases by certain specified individuals
("Specified Purchasers"). In addition, the Agent will be issued Agent's warrants
equal to 7% of the number of units placed excluding units issued to Specified
Purchasers. The Agent will also be issued Agent's warrants exercisable to
acquire, in the aggregate, that number of common shares that is equal to 2% of
the units issued to Specified Purchasers pursuant to the offering. Each Agent's
warrant will entitle the holder to purchase one common share at a price of
C$0.80 per share for a period of 24 months from the closing date.


A copy of the preliminary prospectus supplement and the accompanying base shelf
prospectus relating to the offering filed with the securities commissions in
each of the provinces of British Columbia, Alberta and Ontario may be obtained
by accessing the website maintained by the Canadian securities regulatory
authorities at www.sedar.com, and has been filed with the SEC as a free writing
prospectus which may also be obtained, along with the base shelf prospectus in
the registration on Form S-3, by accessing the SEC website at www.sec.gov, or,
in each case, from the Agent at:




Haywood Securities Inc.
Suite 2000-400 Burrard Street
Vancouver, BC, Canada
V6C 3A6
Attention: Michelle Jankovich
Telephone: 604-697-7126
E-mail: mjankovich@haywood.com



ON BEHALF OF THE BOARD

Daniel Wolfus, Chairman and CEO

About Midway Gold Corp.

Midway Gold Corp. is a precious metals exploration company that engages in the
acquisition, exploration, and development of mineral properties in the western
United States. Midway controls over 65 square miles of mineral rights along
three major gold trends in Nevada and the Republic district of Washington.
Midway has four advanced exploration projects including the Spring Valley, Pan,
Golden Eagle, and the Midway projects, and three earlier stage exploration
targets. These early stage exploration projects include Gold Rock, Roberts Gold
and Burnt Canyon.


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