Midway Announces US$12 Million Bought Deal Offering

Midway Gold Corp.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.