FIVE AND ONE HALF BILLION DOLLARS LAYING IN JUST THIS ONE CLAIM THAT MDW JOINTLY OWNS WITH BARRICK MAKES FOR A WORLD CLASS MINING COMPANY IN THE NEAR FUTURE..WOW..Denver, Colorado – Midway Gold Corp. ("Midway" or the "Company") (MDW:TSX, MDW:NYSE-MKT) announces substantial resource growth at its Spring Valley project, located in Pershing County, Nevada (“the Project”). The Company has updated the mineral resource estimate to include the 2011-2013 drill results. Midway’s independent consulting engineers, Gustavson Associates, have determined that this drilling has resulted in a 102% increase in Measured & Indicated (“M&I”) ounces to 4.37 million ounces, as well as a 20% increase in the M&I gold grade. In addition, the drilling has resulted in an inferred resource now totaling 1.07 million ounces. Midway also announces its decision to become a 25% joint venture partner, to be carried to production by Barrick free of any additional payments or capital outlays.
“We are thoroughly impressed with the continued growth and the significant quality upgrade at Spring Valley,” said Ken Brunk, President and CEO of Midway. “The accelerated progress on the project continues to give us confidence that Spring Valley has the potential to be a world-class gold mine in the near future. The three drill rigs on site continue to be focused on in-fill drilling and will likely have an even greater future impact on ounce quality as we move forward to completion of a pre-feasibility study in the fall of 2015. The $9 million drilling program and the $8.4 million commitment currently being spent on all of the various engineering and permitting activities speaks to the merits of the project. We are happy to have Barrick as our joint venture partner and pleased to see 2014’s major progress
