Midway Gold Completes Filing of Technical Report for Spring Valley 1.8 Million Ounce Gold Resource Update

VANCOUVER, BRITISH COLUMBIA, Apr 07 (MARKET WIRE) --
Midway Gold Corp. ("Midway") (TSX VENTURE: MDW)(NYSE Alternext US:
MDW)(NYSE Amex: MDW.A) has filed a 43-101 Technical Report supporting an
updated mineral resource estimate for the Spring Valley Project, Nevada.
The Inferred mineral resource estimate of 87.75 million tons grading
0.021 ounce per ton (opt) gold for a total of 1,835,615 ounces of gold
was reported March 3, 2009. On March 8, 2009, Midway announced that it
had signed a definitive agreement with Barrick Gold Exploration Inc. for
an exploration agreement and option to joint venture the Spring Valley
project.

"This resource update represents an 85% increase in contained gold at the
Spring Valley deposit using an 0.006 opt gold cut-off," said Alan
Branham, President and CEO of Midway Gold Corp. "The efficiency of the
Midway team resulted in growth of the resource at a cost of less than $10
per ounce last year. The Spring Valley project continues to hold strong
potential and we look forward to more growth in the future."

December 31, 2008 Resource:

Inferred Resource Using a $715 Lerchs-Grossman Optimization Shell
---------------------------------------------------------------------------
Cut-Off Grade Short Tons Gold Grade Contained Gold
(opt gold) (Millions) (opt) (ounces)
---------------------------------------------------------------------------
0.006 87.75 0.021 1,835,615
---------------------------------------------------------------------------
0.010 59.62 0.027 1,594,707
---------------------------------------------------------------------------
0.020 29.31 0.040 1,173,586
---------------------------------------------------------------------------

December 15, 2007 Resource:

AMEC Inferred Resource Using a $650 Lerchs-Grossman Optimization Shell
---------------------------------------------------------------------------
Cut-Off Grade Short Tons Gold Grade Contained Gold
(opt gold) (Millions) (opt) (ounces)
---------------------------------------------------------------------------
0.006 50.6 0.0196 992,152
---------------------------------------------------------------------------
0.010 41.1 0.0223 917,109
---------------------------------------------------------------------------
0.020 17.7 0.0327 577,602
---------------------------------------------------------------------------

Midway drilling has identified a coherent gold zone 5,000 feet long by
2,500 feet wide, and extends to a depth of 1,400 feet. Known
mineralization remains open to the north, southwest, and at depth.

This resource estimate is in compliance with Canada's NI 43-101 and in
accordance with CIM Definition Standards for Mineral Resources and
Mineral Reserves.

This Technical Report by Midway supporting disclosure of the mineral
resource has been filed on Sedar. The Technical Report updates the
project as of December 31, 2008, and outlines work on the resource and
progress to date.

This release has been reviewed and approved by William Neal, (M.Sc.,
CPG), a "qualified person" as that term is defined in National Instrument
43-101.

ON BEHALF OF THE BOARD

Alan Branham, President and CEO

This press release contains forward-looking statements about the Company
and its business. Forward looking statements are statements that are not
historical facts and include resource estimates. The forward-looking
statements in this press release are subject to various risks,
uncertainties and other factors that could cause the Company's actual
results or achievements to differ materially from those expressed in or
implied by forward looking statements. These risks, uncertainties and
other factors include, without limitation risks related to fluctuations
in gold prices; uncertainties related to raising sufficient financing to
fund the planned work in a timely manner and on acceptable terms; changes
in planned work resulting from weather, logistical, technical or other
factors; the possibility that results of work will not fulfill
expectations and realize the perceived potential of the Company's
properties; uncertainties involved in the interpretation of drilling
results and other tests and the estimation of gold resources; the
possibility that required permits may not be obtained on a timely manner
or at all; the possibility that capital and operating costs may be higher
than currently estimated and may preclude commercial development or
render operations uneconomic; the possibility that the estimated recovery
rates may not be achieved; risk of accidents, equipment breakdowns and
labor disputes or other unanticipated difficulties or interruptions; the
possibility of cost overruns or unanticipated expenses in the work
program; and other factors identified in the Company's SEC filings and
its filings with Canadian securities regulatory authorities.
Forward-looking statements are based on the beliefs, opinions and
expectations of the Company's management at the time they are made, and
other than as required by applicable securities laws, the Company does
not assume any obligation to update its forward-looking statements if
those beliefs, opinions or expectations, or other circumstances, should
change.

This press release uses the terms "measured resources", "indicated
resources" and "inferred resources", which are calculated in accordance
with the Canadian National Instrument 43-101 and the Canadian Institute
of Mining and Metallurgy Classification system. We advise investors that
while those terms are recognized and required by Canadian regulations,
the U.S. Securities and Exchange Commission does not recognize them. U.S.
investors are cautioned not to assume that any part or all of mineral
deposits in these categories will ever be converted into reserves. In
addition, "Inferred resources" have a great amount of uncertainty as to
their existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an Inferred
Mineral Resource will ever be upgraded to a higher category. Under
Canadian rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or pre-feasibility studies, except in rare cases.
U.S. investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally minable.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

Contacts:
Midway Gold Corp.
R.J. Smith
Toll Free: 1-877-475-3642
Website: www.midwaygold.com

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