Midway Gold Corp. (TSX.V and NYSE Amex: MDW) announces the results of a positive Prefeasibility Study of its Pan gold project located in White Pine County, Nevada. The accompanying National Instrument (NI) 43-101 technical report will be filed on SEDAR within 45 days. This NI 43-101 report was independently prepared by Gustavson Associates, LLC ("Gustavson") of Lakewood, Colorado, and concludes that the Pan Project is economically viable and amenable to heap leach mining operations, as summarized below.