MIDWAY ANNOUNCES DIRECTOR CHANGES
Midway Gold Corp. (?Midway?)
reports the two vacancies on the board of directors have been filled by the
appointment of Daniel Wolfus and Frank Yu as directors. It is with
regret that we report that Brian Bayley has resigned as a director, and the
board and management of the Company sincerely thank him for his guidance,
support and service.
Daniel
Wolfus joins the Board of Midway with over 28 years of investment banking
experience, firstly with E.F. Hutton & Co., where Mr. Wolfus rose to
become partner and Senior Vice President in charge of the West Coast
Corporate Finance Department, followed by his tenure as Chairman, CEO and
chief organizer of Hancock Savings Bank in Los Angeles. During his term with
Hancock Savings, the bank grew to five branches and $225 million in assets
before it was sold in 1997. Mr. Wolfus is currently a director of MD Cowan
and Co., a manufacturer of oil drilling equipment, and of Platoro West
Holdings Inc., a mineral exploration company traded on the Canadian Trading
& Quotation System. Mr. Wolfus also serves in various charitable
and non-profit organizations in the United States.
Frank
S. Yu is a private investor who has been a senior engineering executive with
over 20 years of increasingly responsible technical and management positions
in major, as well as, start up computer and communications companies. He
earned a PhD in Computer Science at Stanford University and has been involved
with both communication and computer server companies which were later taken
public.
Mr.
Wolfus replaced Mr. Bayley on Midway?s Audit Committee and Corporate
Governance and Nominating Committee. Mr. Yu has been appointed along
with Brian McAlister to Midway?s Compensation Committee. All three of
Midway?s Board committees have three independent board members.
Midway Gold Corp. is a precious
metals exploration company, listed on the NYSE Alternext US and on the TSX
Venture Exchange under the symbol ?MDW.? Midway?s focus is creating value for
shareholders through the discovery and development of quality new precious
metal resources in politically stable mining areas. Midway have four advanced
stage gold exploration projects and four early stage exploration projects
that control over 60 square miles of mineral rights along three major
gold trends in Nevada and the Republic district in Washington. Additional
information on Midway Gold Corp. and these projects can be found at: www.midwaygold.com.
ON BEHALF OF THE BOARD
?Alan Branham?
______________________________
Alan Branham, President and CEO
For further information, please contact
Alan Branham at Midway Gold Corp. at (877) 475-3642 (toll-free).
The TSX Venture Exchange has not reviewed
and does not accept responsibility for the adequacy or accuracy of this
release. 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 labour 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.
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