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 US$12 Million Bought Deal Offering

20/05/2011 12:43pm

Marketwired Canada

Midway Gold Corp. ("Midway" or the "Company") (TSX VENTURE:MDW)(NYSE Amex:MDW)
is pleased to announce that it has entered into an agreement with Haywood
Securities Inc. (the "Underwriter"), pursuant to which the Underwriter has
agreed to purchase, on a bought deal basis, 7,500,000 common shares (the "Common
Shares") of the Company at a price of US$1.60 per Common Share (the "Issue
Price") for aggregate gross proceeds to the Company of US$12,000,000 (the
"Offering"). The Common Shares are to be sold by way of a prospectus supplement
to Midway's existing base shelf prospectus dated April 21, 2011 and filed with
the securities commissions in the provinces of British Columbia, Alberta and
Ontario and in the United States by way of a prospectus supplement to the
Company's base shelf prospectus included in the Company's shelf registration
statement filed with the U.S. Securities and Exchange Commission (the "SEC") on
April 21, 2011. 

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.

Closing of the Offering is expected to occur on or about June 6, 2011 and is
subject to receipt of all necessary regulatory approvals, including the approval
of the TSX Venture Exchange and the NYSE Amex Equities. 

Haywood Securities Inc. will receive a cash commission of 5% of the total gross

Midway has filed a base shelf prospectus with the securities commissions in each
of the provinces of British Columbia, Alberta and Ontario and a shelf
registration statement with the SEC which will serve as the base for the
Offering in the United States to which this communication relates. A copy of the
base shelf prospectus in 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. A copy of the shelf registration
statement and prospectus filed in the United States may be obtained by visiting
EDGAR on the SEC website at www.sec.gov. Before you invest, you should read the
base shelf prospectus, any prospectus supplement and other documents the issuer
has filed with the Canadian securities commissions and the SEC for more complete
information about the issuer and this offering. Midway, any agent or any dealer
participating in the offering will arrange to send you the base shelf prospectus
and the prospectus supplement, when available, if you request it from the
Underwriter at:

Haywood Securities Inc.                                                     
Suite 700-200 Burrard Street                                                
Vancouver, BC, Canada                                                       
V6C 3L6                                                                     
Attention: Michelle Jankovich                                               
Telephone: 604-697-7126                                                     
E-mail: mjankovich@haywood.com                                              


Daniel Wolfus, Chairman and CEO

About Midway Gold Corp.

Midway Gold Corp. is a precious metals company with a vision to design, build,
and operate mines in a manner accountable to all stakeholders while producing an
acceptable return to its shareholders. Midway controls over 65 square miles of
mineral rights in the western United States; four advanced projects include:
Spring Valley, Pan, Golden Eagle, and Midway. Two early stage exploration
targets are Gold Rock and Burnt Canyon. For more information about Midway,
please visit our website at www.midwaygold.com.

This press release contains "forward-looking statements" and "forward-looking
information" within the meaning of Canadian and United States securities laws,
which may include, but is not limited to, the intended terms of the offering and
use of proceeds. Such forward-looking statements and forward-looking information
reflect our current views with respect to future use of proceeds and are subject
to certain risks, uncertainties and assumptions, including but not limited to
risks related to delays in closing, the receipt of regulatory approvals and
changes in market conditions. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual results
may vary materially from those anticipated or expected. We do not undertake to
update forward-looking statements or forward-looking information, except as may
be required by law.

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