Midway Gold Adds 1.8 km of Potential Strike Length at Spring Valley Project, Nevada

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[{"type":"text","content":"\nMidway Gold Adds 1.8 km of Potential Strike Length at Spring Valley Project, Nevada\n\n Feb. 24, 2011 (Filing Services Canada) -- Midway Gold Corp. (MDW - TSX Venture, MDW - NYSE - Amex),reports that exploration drilling conducted in the fourth quarter of 2010 has resulted in an extension of the mineralized strike length by about 1.8 km to the south-southwest of the previously known gold resource at Spring Valley.  The step out in reverse circulation drill hole SV10-499 intersected 12.2 m of 1.2 gram per tonne (g/t) Au including 1.5 m of 7.8 g/t Au mineralization, showing strong, relatively shallow Spring Valley-type mineralization in similar structures and host rocks to  the existing gold resource.  The drill hole is south of the property acquired late last year and described in the press release dated December 8, 2010 (see illustration below).  The gold resource remains open to the northwest, to the south, and to depth.Highlights of fourth quarter drill results reported to the Company by Barrick Gold Exploration Inc. (\"Barrick\") includes several high grade intercepts (further described in the table below): * Hole SV-511C with 62.5 m of 2.2 g/t Au including 1.5 m of 22.4 g/t Au, 1.5 m of 305.0 g/t Au, and 1.5 m of 21.1 g/t Au; and 42.7 m of 0.9 g/t Au including 1.5 m of 12.5 g/t Au. * Hole SV-502C with 3.3 m of 3.0 g/t Au including 0.8 m of 17.8 g/t Au, and 10.5 m of 1.6 g/t Au including 1.0 m of 28.0 g/t Au. * Hole SV-510 with 25.9 m of 0.8 g/t Au including 1.5 m of 4.6 g/t Au, and 12.2 m of 3.6 g/t Au including 1.5 m of 96.0 g/t Au.These holes intersected mineralization below the rim of the north edge of the conceptual pit and to depth and could therefore expand the length and width of the resource as well as at depth.\"Midway believes that these results are strong evidence that the new, untested parcels acquired last year could potentially contain significant resources at relatively shallow depths,\" said Ken Brunk, President and COO. \"It will be exciting to watch the development of this potentially world-class gold system.\"Barrick has informed Midway that it intends to conduct and fund the minimum required program of US$7 million in 2011 for a cumulative amount of US$16 million by December 31, 2011.  Drilling in 2011 is expected to focus on expanding the resource and e...

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