MIDAS GOLD REPORTS DRILL RESULTS FROM HANGAR FLATS & YELLOW PINE, GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-12-199 intersects 92.7m of 2.90g/t Au at Yellow Pine
Hole MGI-12-205 intersects 38.1m of 4.37g/t Au at Yellow Pine

Hole MGI-12-164 intersects 18m of 3.46g/t Au and 44.0m of 3.50 g/t Au, 17g/t Ag
and 1.8% Sb at Hangar Flats

Hole MGI-12-192 intersects 15.8m of 4.15g/t Au, 21.0m of 1.00g/t Au
and 89.6m of 1.54g/t Au at Hangar Flats

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results from its ongoing core and reverse circulation (“RC”) drilling program on its Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. Results include infill and extensions to the Hangar Flats and Yellow Pine deposits, with continued progress in both confirming and expanding previously defined mineralization below and laterally from previous deposit boundaries as established in mineral resource estimates reported in 2011.

Significant assay results from the most recent holes are summarized in Table 1, below, with more detailed results in Table 2 at the end of this release. Previous 2011 assay results were reported in other news releases that can be found on Midas Gold’s website at www.midasgoldcorp.com. Additional results from the ongoing program will be released when assays are received and validated.

Table 1: Highlights of Recent Drill Results from Golden Meadows

HOLE ID	HOLE TYPE	AREA	FROM (m)	TO (m)	Interval (m)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-124	Core	Yellow Pine	153.0	237.4	84.4	1.64	3.7	0.02	0.002
MGI-11-125	Core	Yellow Pine	101.2	114.9	13.7	1.16	3.8	0.23	0.001
			135.8	160.9	25.1	2.30	0.6	0.00	0.002
			165.5	190.7	25.1	3.85	1.0	0.00	0.001
MGI-12-1641	RC	Hangar Flats	82.9	100.9	18.0	3.46	1.8	0.01	0.002
			146.5	169.0	22.6	1.43	2.7	0.01	0.004
			189.0	233.0	44.0	3.50	17.5	1.80	0.015
MGI-12-187	Core	Yellow Pine	192.9	293.8	100.9	1.20	P	P	P
MGI-12-192	Core	Hangar Flats	104.9	120.7	15.8	4.15	1.5	0.01	0.006
			165.5	186.5	21.0	1.00	2.2	0.09	0.004
			306.6	396.2	89.6	1.54	P	P	P
MGI-12-199	Core	Yellow Pine	20.7	113.4	92.7	2.90	P	P	P
			129.8	140.5	10.7	1.58	P	P	P
			202.7	223.0	20.3	0.93	P	P	P
MGI-12-205	RC	Yellow Pine	4.6	42.7	38.1	4.37	P	P	P

(1) Assays for portions if this hole were previously reported
(2) Based upon the current 3D interpretation of the Hangar Flats, West End and Yellow Pine deposits the intervals quoted here are at or near true thickness unless otherwise noted in the text and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(3) P - Results pending

“We are pleased with the recent results from our ongoing winter drilling program at our Golden Meadows Project, particularly at Yellow Pine, where we continue to locate mineralization below and laterally away from the previously known limits of mineralization,” said Stephen Quin, President and CEO of Midas Gold Corp. “These most recent drill results again confirm the potential to add significant gold-silver mineralization around the Hangar Flats and Yellow Pine deposits, as we have yet to define the limits of these large mineralized systems,” he said. “Drilling is continuing and, with the recently completed financing, Midas Gold plans to continue drilling with two to three rigs through spring break-up and then resume full scale drilling in May 2012 with seven or more drill rigs.” Drilling for the remainder of 2012 will be focused firstly on continuing to step out in an attempt to find the limits of each of the three main deposits along strike, to depth and laterally; secondly to convert inferred mineral resources to the indicated category; and, thirdly, to explore for completely new deposits.

2012 Drill Program
Midas has completed 16,778m of its planned 17,000m Phase I winter drilling program and anticipates this phase to be completed in the next month, dependent on weather and site conditions during spring break-up. Significant additional drilling is planned for the balance of the year, subject to applicable permitting, and will be focused on continued in-fill and step out drilling on the three known mineral deposits (Hangar Flats, West End and Yellow Pine) as well as drilling new targets within the Golden Meadows property with the objective of discovering additional mineral deposits. During spring break-up, drilling has been temporarily curtailed from seven to two or three active rigs but, once road conditions improve, Midas Gold plans to ramp back up to seven or more drill rigs for the summer and fall drilling season.

Drill results from 2011 and early 2012 are being used to complete updated mineral resource estimates for all three deposits, anticipated for completion in Q2/12, and will be incorporated in an independently prepared Preliminary Economic Assessment, scheduled for completion in Q3/12. Drilling completed for the balance of 2012 will be used to support updated mineral resource estimates and a Pre-feasibility Study scheduled for completion 2013.

Yellow Pine
Results from nine holes, drilled to in-fill and step-out from the Yellow Pine pit and Homestake portions of the Yellow Pine deposit, are reported herein and are located on a map accompanying this release.

Results from a series of in-fill and step-out holes drilled along drill fences between the main Yellow Pine pit area and the Clark Tunnel-Homestake zones, within the Yellow Pine deposit, indicate the mineralized system is still open at depth. Hole MGI-11-125, drilled to the southeast as an in-fill hole, cut thick intervals of mineralization in several zones near the bottom of the 2011 modeled resource-limiting pit. Two step-out holes, drilled in the same direction along the same drill fence, MGI-11-124 and MGI-12-187, cut mineralization approximately 50m and 100m below the resource-limiting pit, respectively. Results from other holes recently completed in this area include: MGI-12-187 which cut 100.9m at 1.2g/t Au; MGI-12-194, which cut several zones (including a zone averaging 4.01g/t Au over 26.8m) and MGI-12-199, which cut several mineralized intervals (including 92.7m grading 2.90g/t Au).

Farther to the northeast, in the Homestake portion of the Yellow Pine deposit, a single hole (MGI-12-205) was completed as a follow-up step-out hole from MGI-11-108, which was drilled this summer and reported previously. MGI-12-205 cut a thick interval of strong mineralization grading 4.37g/t Au over 38.1m and cut mineralization across a fault previously thought to limit mineralization to the east. Assays are still pending for the bottom half of this hole.

In the southwest portion of the main Yellow Pine Deposit, MGI-11-145 (portions of which have been previously reported) and MGI-11-147 (reported herein), tested for and successfully located extensions of mineralization across a fault previously thought to limit mineralization in this area, with hole MGI-11-145 reporting 36.7m grading 2.08g/t Au, 9.1g/t Ag, 0.56% Sb and 0.1% W.

Hangar Flats
Results for twenty-three additional holes completed in late 2011 and early 2012 in the Hangar Flats deposit area are reported herein. Late fall and winter drilling have been concentrated in two areas at Hangar Flats: (1) within and around the main mineral resource area on the south end of the Hangar Flats trend, and (2) to the north, 300-600m along strike near the crest of the hill above the main mineral resource area. The latter area was targeting the near surface projections of deeper gold-antimony mineralization intersected in 1950’s era US Department of Defense’s Defense Minerals Exploration Administration (“DMEA”) underground exploration and drilling activities.

Drilling along the southern portion of the Hangar Flats deposit continues to cut significant mineralization in-filling and testing down-dip and along strike from previously drilled areas. Hole MGI-12-164, an inclined hole directed to the northwest (portions of which were previously released), cut strong mineralization, including 44.0m grading 3.5 g/t Au, 17.5g/t Ag and 1.8% Sb.

Drill holes MGI-12-163, MGI-12-167, MGI-12-170, MGI-12-174 (all previously reported), MGI-12-178 and MGI-12-179 were RC holes drilled in the northern area to test 2009 and 2011 trench intercepts and to test for mineralization along a northeast trending fault system cut in the trenches and at depth in historic underground workings. These holes cut multiple lenses of low grade and sub-grade mineralization near surface and at depth, but the zones were narrow, on the order of 4-6m on average, suggesting mineralization is weaker in this area, away from the main Meadow Creek Fault zone (which is located approximately 100m to the west).

Drill holes MGI-12-181, 12-183 and 12-185 were collared closer to the Meadow Creek Fault and to the south of the holes described in the paragraph above and all cut significant stacked mineralized lenses averaging 10-20m in thickness and with better grades then the holes farther east and north.

A series of six holes were drilled at various orientations proximal to the main Meadow Creek Fault Zone and above and just north of the intercepts reported in historic underground workings. These holes included MGI-12-182 (previously reported), MGI-12-188, MGI-12-191, MGI-12-192, MGI-12-195 and MGI- 12-197. With the exception of MGI-12-192, these holes all cut multiple, but narrow lenses of stacked mineralization averaging 10-15m true thickness. MGI-12-192 cut a thick interval averaging 1.54 g/t Au over 89.6m. The true width of the zone is likely less than the reported down hole interval, but the true width is unknown.

Results from the initial holes drilled east of the Meadow Creek Fault to test the up-dip projection of the deep DMEA zone were reported in the February 27, 2012 news release and additional results are reported herein. As previously reported, the up-dip projection of the deeper DEMA zone (as represented by the deep intercept in MGI-12-192 discussed above), horsetails out from a single (20-40m thick) higher grade (2-7 g/t gold) lens at depth to multiple, thinner, lower grade (0.1-1.0 g/t gold) lenses up-dip and farther away from the Meadow Creek Fault Zone. Drill hole MGI-12-166 (previously reported), MGI-12-172 and MGI-12-184 evaluated this up-dip projection and are reported herein. As noted in other drill holes in this area, the up-dip and lateral extent of mineralization away from the Meadow Creek Fault is weaker and thinner than those areas proximal to the fault and limits potential for near surface mineralization amenable to open-pit extraction to mineralization close to the fault itself.

A series of in-fill and step-out holes were drilled on the periphery of the main mineralized area at Hangar Flats, on the south end of the mineralized trend. On the northeast end, holes MGI-12-173, MGI-12-175 and MGI-12-177 tested the along strike extension on the northeast-trending mineralization cut to the southwest in previous 2009 and 2010 Midas drilling. These holes cut several lenses of mineralization with the best intercepts in MGI-12-173 grading 1.10 g/t Au over 19.8m and in MGI-12-177 grading 1.04 g/t Au over 19.8m and 1.48 g/t Au over 18.3m, indicating the northeast trending zone is still open in this direction, along strike. Farther to the southwest, closer to the Meadow Creek Fault, MGI-12-190 reported a broader, but low grade interval averaging 0.83 g/t Au over 33.5m.

Adjacent to the Meadow Creek fault itself, MGI-12-193 cut a thick interval of mineralization grading 1.37 g/t Au over 93.6m. As in other holes previously reported, the corridor adjacent to the main Meadow Creek fault often carries the best grade and thickest intercepts as evidenced by the bottom portion of MGI-12-164, which reported a 44.0m intercept grading 3.50 g/t Au, 17.5 g/t Ag and 1.8% Sb. Results from other drill holes in this area are pending.

Illustrations
To view the locations of current drill holes, please click here.

Quality Assurance
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 (“NI43-101”) and reviewed and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp., and a Qualified Person. The exploration activities at Golden Meadows were carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Exploration Manager for the Golden Meadows Project.

All gold assays are by a 30g Fire Assay charge followed by an atomic absorption finish (with a 0.002g/t lower reporting limit). Samples reporting values > 6g/t are re-analyzed using a 30g Fire Assay charge followed by a gravimetric finish. All composites utilize a 0.5g/t cut off and may include up to 3 meters of internal waste. Internal waste has been assigned a nominal grade of 0.0g/t. Composites above cut-off grade, but less than 4.6 meters in length, are not reported. Silver is analyzed via a 4-acid digestion followed by an ICP finish (with a 1.0g/t lower reporting limit). Samples reporting values > 10g/t Ag are reanalyzed using a 50g Fire Assay charge followed by a gravimetric finish. Some intervals may not add or subtract correctly due to rounding, but are deemed insignificant. Analyses are carried out by ALS CHEMEX in their Reno and Winnemucca, Nevada and Vancouver, British Columbia laboratories. Umpire samples are routinely submitted to third party labs and blank and standard samples are used for quality assurance and quality control and a review of the results of analyses of the blanks, standards and duplicates by the Company’s Qualified Person indicates values are within normal and acceptable ranges.

About Midas Gold and the Golden Meadows Project
Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Hangar Flats is a high-grade gold-silver-antimony-tungsten discovery made in 2009 and these most recent drill intercepts are step-outs to the north from the areas discovered and drilled during the 2009 and 2010 field seasons. Yellow Pine is a significant past producer of gold, silver, antimony and tungsten from the 1930s through the mid-1950s. The Homestake deposit located at the northeast end of the Yellow Pine deposit and was operated by Hecla Mining Company from 1987 through 1989. The area between Yellow Pine and Homestake, known as the Clark Tunnel prospect, was the site of early 1930’s and 1940’s era exploration, but no mining has occurred and it has seen only minimal modern exploration drilling. Historical geologic, ground geophysical and drilling data obtained by Midas suggested the possibility that significant mineralization might be present in this area and recent drill results confirm this potential. The West End deposit was the site of open pit mining with heap leach recovery of gold from the 1970s to the late 1990s.

The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization.

Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Corporation’s properties; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2011 will be consistent with the Corporation’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Corporation’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Corporation’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Corporation’s public disclosure record. Although the Corporation has attempted to identify important factors that could affect the Corporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Table 2: Detailed Assay Results to Accompany Midas Gold Corp. News Release dated April 11, 2012

Hole ID	Hole Type	Area	Bearing	Inclination	Total Depth (m)	From (m)	To (m)	Interval (m)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
11-124	Core	Yellow Pine	120	-69	398.4	127.9	136.4	8.5	1.26	2.8	0.00	0.001
						153.0	237.4	84.4	1.64	3.7	0.02	0.002
						309.1	330.4	21.3	0.37	0.2	0.00	0.005
						380.1	392.3	12.2	0.70	0.2	0.00	0.009
11-125	Core	Yellow Pine	120	-52	371.2	101.2	114.9	13.7	1.16	3.8	0.23	0.001
						118.4	123.8	5.3	1.27	1.3	0.00	0.003
						135.8	160.9	25.1	2.30	0.6	0.00	0.002
						165.5	190.7	25.1	3.85	1.0	0.00	0.001
						287.1	292.3	5.2	0.89	2.2	0.00	0.002
11-1271	Core	Yellow Pine	131.5	-54	409.3	12.2	19.8	7.6	1.10	6.1	0.13	0.001
						24.4	159.7	135.3	2.21	1.7	0.06	0.005
						164.3	191.7	27.4	1.83	1.8	0.00	0.002
						353.6	360.9	7.3	0.49	2.6	0.00	0.001
						368.5	376.4	7.9	0.75	1.3	0.01	0.001
11-1451	Core	Yellow Pine	112	-45	409.5	112.5	149.2	36.7	2.08	9.1	0.56	0.103
						381.3	403.6	22.3	0.70	0.8	0.01	0.001
11-1471	RC	Yellow Pine	65	-73	147.2	13.7	22.1	8.4	1.92	2.2	0.07	0.001
11-1621	Core	Hangar Flats	0	-90.0	301.1	49.7	57.9	8.2	0.97	1.1	0.00	0.003
						127.7	132.3	4.6	0.97	0.8	0.00	0.003
						157.6	166.7	9.1	0.78	1.4	0.01	0.005
						177.4	192.9	15.5	3.25	2.6	0.01	0.005
						242.6	246.9	4.3	1.77	0.9	0.00	0.005
12-163	RC	Hangar Flats	0	-90	274.3	6.1	13.7	7.6	1.18	1.4	0.00	0.017
						21.3	33.5	12.2	0.97	1.4	0.00	0.004
12-1641	RC	Hangar Flats	320	-60	294.4	15.2	24.4	9.1	2.77	13.2	0.57	0.003
						82.9	100.9	18.0	3.46	1.8	0.01	0.002
						107.9	114.0	6.1	2.74	1.6	0.00	0.003
						126.2	137.8	11.6	0.62	1.7	0.01	0.007
						146.5	169.0	22.6	1.43	2.7	0.01	0.004
						189.0	233.0	44.0	3.50	17.5	1.80	0.015
12-1701	RC	Hangar Flats	0	-90	249.9	150.9	155.5	4.6	0.76	1.2	0.01	0.010
						161.5	170.7	9.1	1.19	0.4	0.00	0.003
12-1711	RC	Hangar Flats	43	-79	274.3	129.5	137.2	7.6	1.29	1.0	0.00	0.003
						213.4	221.0	7.6	0.66	2.3	0.03	0.005
						227.1	237.7	10.7	2.69	2.9	0.00	0.003
						243.8	274.3	30.5	0.72	0.7	0.01	0.001
12-172	Core	Hangar Flats	0	-90	228.6	14.6	27.0	12.3	1.50	1.9	0.01	0.006
12-1731	RC	Hangar Flats	140	-68	274.3	25.9	30.5	4.6	1.50	1.7	0.01	0.014
						70.1	76.2	6.1	1.44	0.8	0.00	0.006
						189.0	208.8	19.8	1.10	1.7	0.00	0.003
						243.8	248.4	4.6	1.72	1.0	0.00	0.003
						260.6	269.8	9.1	0.81	0.9	0.00	0.002
12-175	RC	Hangar Flats	140	-90	271.3	99.1	108.2	9.1	0.60	0.5	0.00	0.003
12-177	RC	Hangar Flats	140	-45	277.4	86.9	106.7	19.8	1.04	1.3	0.00	0.005
						112.8	131.1	18.3	1.48	0.9	0.00	0.003
						135.6	147.8	12.2	0.98	0.2	0.00	0.002
12-1781	RC	Hangar Flats	0	-90	100.6	0.0	4.6	4.6	0.81	2.5	0.01	0.010
						76.2	82.3	6.1	1.90	2.9	0.01	0.008
12-179	RC	Hangar Flats	0	-90	249.9	195.1	201.2	6.1	1.54	2.2	0.01	0.006
						210.3	216.4	6.1	1.74	1.9	0.00	0.019
						228.6	233.2	4.6	1.08	0.8	0.00	0.003
12-180	Core	Hangar Flats	187.5	-71	349.9	11.4	17.8	6.4	0.95	1.0	0.00	0.006
12-181	RC	Hangar Flats	0	-90	298.7	158.5	170.7	12.2	2.66	2.7	0.01	0.010
12-183	RC	Hangar Flats	0	-90	298.7	0.0	19.8	19.8	1.85	2.3	0.04	0.002
						39.6	56.4	16.8	2.11	2.1	0.01	0.006
12-184	Core	Hangar Flats	172.5	-60	358.3	210.3	215.2	4.9	1.25	0.8	0.00	0.004
12-185	RC	Hangar Flats	0	-90	234.7	25.9	30.5	4.6	0.65	1.3	0.00	0.005
						74.7	86.9	12.2	1.92	2.7	0.01	0.009
12-187	Core	Yellow Pine	120	-73	365.8	192.9	293.8	100.9	1.20	P	P	P
12-188	Core	Hangar Flats	136	-60	303.3	66.0	78.9	13.0	1.35	2.1	0.01	0.008
						93.0	103.0	10.1	1.63	1.8	0.01	0.029
12-190	RC	Hangar Flats	140	-63	274.3	89.9	94.5	4.6	0.97	P	P	P
						103.6	137.2	33.5	0.83	P	P	P
12-191	Core	Hangar Flats	320	-73	315.5	12.5	27.6	15.1	1.18	4.1	0.03	0.008
						48.8	66.5	17.7	1.00	1.8	0.08	0.002
						270.4	282.6	12.2	0.83	2.1	0.06	0.007
12-192	Core	Hangar Flats	280	-83	396.2	7.3	20.9	13.6	0.69	1.3	0.01	0.006
						49.1	56.9	7.8	1.37	0.2	0.03	0.007
						61.4	67.5	6.1	1.62	1.0	0.01	0.007
						104.9	120.7	15.8	4.15	1.5	0.01	0.006
						125.3	132.3	7.0	1.60	1.3	0.01	0.004
						165.5	186.5	21.0	1.00	2.2	0.09	0.004
						255.9	260.6	4.7	1.55	P	P	P
						306.6	396.2	89.6	1.54	P	P	P
12-193	Core	Hangar Flats	0	-90	368.5	15.9	56.1	40.2	1.53	2.7	0.04	0.003
						104.7	112.2	7.5	0.65	1.2	0.00	0.002
						136.6	145.4	8.8	2.31	1.5	0.08	0.008
						175.9	180.3	4.4	2.19	1.9	0.07	0.004
						263.0	356.6	93.6	1.37	P	P	P
12-194	Core	Yellow Pine	120	-45	184.1	27.7	54.7	27.0	1.80	P	P	P
						61.9	88.7	26.8	4.01	P	P	P
						117.4	135.2	17.8	0.56	P	P	P
12-195	Core	Hangar Flats	140	-85	319.4	5.6	22.6	16.9	1.41	P	P	P
						31.9	47.2	15.4	0.89	P	P	P
12-197	Core	Hangar Flats	0	-90	338.9	4.4	26.2	21.8	2.49	P	P	P
						45.9	50.3	4.4	0.77	P	P	P
						216.4	223.6	7.2	2.91	P	P	P
						255.4	259.7	4.3	0.74	P	P	P
						263.4	271.0	7.6	4.78	P	P	P
						286.7	296.0	9.3	1.52	P	P	P
12-199	Core	Yellow Pine	120	-45	286.2	20.7	113.4	92.7	2.90	P	P	P
						117.4	123.1	5.8	8.32	P	P	P
						129.8	140.5	10.7	1.58	P	P	P
						185.9	198.7	12.8	0.60	P	P	P
						202.7	223.0	20.3	0.93	P	P	P
12-205	RC	Yellow Pine	120	-60	189.0	4.6	42.7	38.1	4.37	P	P	P
						59.4	67.1	7.6	1.04	P	P	P
						91.4	97.5	6.1	0.74	P	P	P

(1) Assays for portions if this hole were previously reported
(2) Based upon the current 3D interpretation of the Hangar Flats, West End and Yellow Pine deposits the intervals quoted here are at or near true thickness unless otherwise noted in the text and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the unless cut-off grade otherwise noted in text.
(3) P - Results pending

MIDAS GOLD RECEIVES RECEIPT FOR PROSPECTUS AND QUALIFIES EXERCISE OF SPECIAL WARRANTS

Midas Gold Corp. (“Midas Gold” or the “Company”) (TSX: MAX) announces that it has received a receipt for its final short-form prospectus which qualifies the distribution, in the provinces of British Columbia, Alberta, Ontario and New Brunswick, of 9,085,000 common shares of Midas Gold on the deemed exercise of 9,085,000 special warrants (the “Special Warrants”) which will occur effective March 14, 2012. The Company previously announced the closing of this private placement financing of Special Warrants on February 14, 2012 and the deemed exercise of the Special Warrants does not result in any additional payments to Midas Gold or the issuance of any additional common shares beyond the issue of one common share of Midas Gold for each Special Warrant.

“We are pleased with the timely manner in which we have received final receipt for our prospectus,” said Stephen Quin, President and CEO of Midas Gold. “With gross proceeds of $40.4 million from this financing, Midas Gold is well positioned to carry on with our exploration program at the Golden Meadows gold-silver-antimony-tungsten project in Idaho.”

Details of the Special Warrant transaction are contained in the Company’s final short-form prospectus dated March 8, 2012 and available at www.sedar.com.

On Behalf of the Board of Directors
MIDAS GOLD CORP.

Per: Stephen Quin
President & CEO

About Midas Gold and the Golden Meadows Project
Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, potential future development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors and are described in a technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company’s properties; the approval of the Qualifying Prospectus; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed.

The mineral resources at Golden Meadows are contained within areas that have seen historic disturbance resulting from prior mining activities. In order for Midas to advance its interests at Golden Meadows, the project will be subject to a number of Federal, State and local laws and regulations and will require permits to conduct its activities.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Company’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations.

Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Company’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Company’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Company’s public disclosure record.

Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES AND IS NOT A SOLICITATION OR A PROSPECTUS FOR STOCK

MIDAS GOLD REPORTS RESULTS FROM DRILLING AT HANGAR FLATS AND YELLOW PINE, GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-11-127 intersects 130.8m at 2.25g/t Au and 27.4m at 1.83 g/t Au at Yellow Pine
Hole MGI-11-145 intersects 36.7m at 2.08g/t Au, 9.1g/t Ag, 0.56% Sb and 0.10% W at Yellow Pine
Hole MGI-12-168 intersects 54.9m at 1.14g/t Au, 24.6 g/t Ag and 1.56% Sb below Hangar Flats

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results from its ongoing core and reverse circulation (“RC”) drilling program on its Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. Results include infill and extensions to the Hangar Flats and Yellow Pine deposits, with continued progress in both confirming and expanding previously defined mineralization.

Highlights of assay results from the most recent holes are summarized in Table 1 below, with more detailed results in Table 2 at the end of the release. Previous 2011 assay results were reported in other news releases that can be found on Midas Gold’s web site at www.midasgoldcorp.com. Additional results from the ongoing program will be released when assays are received and validated.

Table 1: Highlights of Recent Drill Results from Golden Meadows

HOLE ID	Hole Type	Target Area	From (m)	To (m)	Interval (m)2	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-1271	Core	Yellow Pine	24.4	155.1	130.8	2.25	1.7	0.06	0.005
Including			24.4	50.8	26.4	3.13	2.3	0.09	0.001
And			164.3	191.7	27.4	1.83	Pending	Pending	Pending
MGI-11-145	Core	Yellow Pine	112.5	149.2	36.7	2.08	9.1	0.56	0.103
MGI-11-156	RC	Yellow Pine	16.8	39.6	22.9	1.75	3.3	0.08	0.004
And			80.8	94.5	13.7	2.59	0.7	0.00	0.001
MGI-11-162	Core	Hangar Flats	177.4	192.9	15.5	3.25	2.6	0.01	0.005
MGI-12-165	RC	Hangar Flats	13.7	24.4	10.7	2.93	2.2	0.01	0.001
And			53.3	67.1	13.7	1.49	0.6	0.01	0.002
And			105.2	129.5	24.4	1.66	1.7	0.09	0.002
And			135.6	173.7	38.1	0.91	1.7	0.05	0.002
And			181.4	214.9	33.5	1.86	1.7	0.01	0.002
And			251.5	265.2	13.7	1.40	10.2	0.67	0.189
And			277.4	292.6	15.2	1.21	13.9	0.91	0.002
MGI-12-1683	RC	Hangar Flats	253.0	307.9	54.9	1.14	24.6	1.56	0.030
Including			277.4	307.9	30.5	1.43	43.5	2.78	0.052
MGI-12-1693	RC	Hangar Flats	219.5	233.2	13.7	1.27	1.3	0.00	0.002
And			246.9	286.5	39.6	1.20	1.2	0.01	0.002

(1) The bottom portions of these holes are incomplete and are not reported.
(2) Based upon the current 3D interpretation of the Hangar Flats, West End and Yellow Pine deposits the intervals quoted here are at or near true thickness and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(3) These holes bottomed in mineralization.

“These most recent assay results from our ongoing drilling program at our Golden Meadows Project continue to demonstrate the large scale and pervasive mineralization in and around the Yellow Pine and Hangar Flats deposits,” said Stephen Quin, President and CEO of Midas Gold Corp. “Our drilling at Hangar Flats, as has been seen in prior and the current announcements for the Yellow Pine deposit, shows strong mineralization over significant intervals, beneath pits used to limit our prior mineral resource estimates. We are also pleased that the US Forest Service has issued permits for our winter drilling campaign in a timely manner and in accordance with applicable rules,” he said.

2012 Drill Program

As reported on January 11, 2012, Midas has commenced a 16,000m to 17,000m initial drilling program that is anticipated to be completed in the first five months of 2012. The US Forest Service recently issued permits for the component of this work program being conducted on Federal lands and permits are already in place for private lands controlled by Midas Gold. Significant additional drilling to be conducted over the balance of the year, subject to applicable permitting, will be focused on continued in-fill and step out drilling on the three known mineral deposits (Hangar Flats, West End and Yellow Pine) as well as exploring for completely new deposits within the Golden Meadows property.

The results reported herein are for some holes completed in late 2011 as well as some of the first holes completed in 2012. Drill results from 2011 and early 2012 will be used to complete updated mineral resource estimates for all three deposits, anticipated for completion in Q2/12, and will be incorporated an independent Preliminary Economic Assessment, scheduled for completion in Q3/12. Drilling completed for the balance of 2012 will be used to support updated mineral resource estimates and a Pre-feasibility Study scheduled for completion in 2013.

Yellow Pine

Results from two core holes and one RC hole, drilled to in-fill areas within the main Yellow Pine deposit area and the Homestake portions of the Yellow Pine deposit are reported herein.

Drill hole MGI-11-127 was collared on the northwest flank of the historic Yellow Pine pit and was drilled to a total depth of 409.4m. This drill hole cut a thick interval of strong mineralization that is consistent with our mineral resource block models. Antimony and silver assays are pending below 155.1m for this hole. Results from a second core hole, MGI-11-145, which was collared approximately 150m southwest of drill hole MGI-11-127, was drilled to a total depth of 409.5m and also cut a thick zone of alteration and mineralization that was consistent with our mineral resource block models.

A single vertical RC drill hole, MGI-11-156, was drilled to test the down-dip extension of the shear vein in the Clark Tunnel-Homestake area. This drill hole cut two lenses of mineralization, one outside of the 2011 resource, but within the pit used to constrain that resource, and the other approximately 50m beneath the bottom of the pit shell used to limit our mineral resource estimates. These intercepts demonstrate significant thicknesses of good grade gold mineralization in this portion of the Yellow Pine deposit.

Hangar Flats

Results for twelve additional holes completed in late 2011 and early 2012 in the Hangar Flats deposit area are reported herein. Late fall and winter drilling have been concentrated in two areas at Hangar Flats: (1) near the base of the hill, near the former Hecla heap leach pad and, (2) upslope, approximately 300-600m along strike, near the surface projections of deeper gold-antimony mineralization intersected in 1950’s era US Department of Defense’s Defense Minerals Exploration Administration (“DMEA”) underground exploration and drilling activities.

Drilling adjacent to the former Hecla heap leach facility cut significant mineralization in a series of six RC holes testing down-dip and along strike from previously drilled areas. Hole MGI-12-165, an inclined hole directed to the northwest, cut strong mineralization, including significant antimony at depth and down dip of previous drill intercepts.

Drill holes MGI-12-168, 12-169 and 12-171 fanned to the northwest and northeast from a drill pad approximately 75m to the northeast of drill hole MGI-12-165 and all cut significant stacked mineralized lenses. Strong, pervasive alteration and mineralization occurred in the bottoms of drill holes MGI-12-168 (which ended in mineralization approximately 70m below the pit used to limit prior mineral resource estimates) and drill hole MGI-12-169, which also ended in strong mineralization, approximately 40m beneath the resource-limiting pit.

Approximately 150m farther to the east-northeast, two RC holes (MGI-12-173 and 12-175) tested the along strike extensions of the zones intersected in MGI-12-168 and 12-169. Drill hole MGI-12-173, drilled to the southeast, cut several broad zones of lower grade mineralization with narrower higher grade intercepts. Results are pending for drill hole MGI-12-175.

Results from six holes drilled east of the Meadow Creek Fault to test the up-dip projection of the deep DMEA zone, indicate the up-dip projection of this zone horsetails out from a single (20-40m thick) higher grade (2-7 g/t gold) lens at depth to four or five, thinner, lower grade (0.1-1.0 g/t gold) lenses up-dip and farther away from the Meadow Creek Fault Zone. Drill hole MGI-11-162, a vertical core hole drilled closest to the Meadow Creek Fault Zone, cut five 5-16m thick lenses with an aggregate thickness of approximately 42m up-dip, including a 15.5m intercept with a length weighted average grade of 3.25 g/t gold. Drill hole MGI-12-166, a vertical core hole, which collared approximately 60m east of MGI-11-162 to a depth of 309.1m, cut only thin intercepts with the best intercept averaging 4.57 g/t gold over 4.6m, indicating the mineralization is fading to the east in this area, which is consistent with what is seen further south.

Drill holes MGI-12-167, 12-170, 12-174 were vertical RC holes and MGI-12-178 was an inclined RC hole; all were collared 100-150m east of the Meadow Creek Fault to test a series of historic trench intercepts and Hecla Mining Company RC holes drilled in the late 1980’s. These holes all cut thin, but persistent lower grade zones ranging in true width from 4-9m in thickness, up-dip of the deeper DMEA lens. Holes currently in progress are testing the more favorable areas, closer to the Meadow Creek Fault.

Illustrations

To view the locations of current drill holes, please click here.

Quality Assurance

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 (“NI43-101”) and reviewed and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp., and a Qualified Person. The exploration activities at Golden Meadows were carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Exploration Manager for the Golden Meadows Project.

All gold assays are by a 30g Fire Assay charge followed by an atomic absorption finish (with a 0.002g/t lower reporting limit). Samples reporting values > 6g/t are re-analyzed using a 30g Fire Assay charge followed by a gravimetric finish. All composites utilize a 0.5g/t cut off and may include up to 3 metres of internal waste. Internal waste has been assigned a nominal grade of 0.0g/t. Composites above cut-off grade, but less than 4.6 metres in length, are not reported. Silver is analyzed via a 4-acid digestion followed by an ICP finish (with a 1.0g/t lower reporting limit). Samples reporting values > 10g/t Ag are reanalyzed using a 50g Fire Assay charge followed by a gravimetric finish. Some intervals may not add or subtract correctly due to rounding, but are deemed insignificant. Analyses are carried out by ALS CHEMEX in their Reno and Winnemucca, Nevada and Vancouver, British Columbia laboratories. Umpire samples are routinely submitted to third party labs and blank and standard samples are used for quality assurance and quality control and a review of the results of analyses of the blanks, standards and duplicates by the Company’s Qualified Person indicates values are within normal and acceptable ranges.

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite-Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Hangar Flats is a high-grade gold-silver-antimony-tungsten discovery made in 2009 and these most recent drill intercepts are step-outs to the north from the areas discovered and drilled during the 2009 and 2010 field seasons. Yellow Pine is a significant past producer of gold, silver, antimony and tungsten from the 1930s through the mid-1950s. The Homestake deposit located at the northeast end of the Yellow Pine deposit and was operated by Hecla Mining Company from 1987 through 1989. The area between Yellow Pine and Homestake, known as the Clark Tunnel prospect, was the site of early 1930’s and 1940’s era exploration, but no mining has occurred and it has seen only minimal modern exploration drilling. Historical geologic, ground geophysical and drilling data obtained by Midas suggested the possibility that significant mineralization might be present in this area and recent drill results confirm this potential. The West End deposit was the site of open pit mining with heap leach recovery of gold from the 1970s to the late 1990s.

The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Corporation’s properties; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Corporation’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Corporation’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Corporation’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Corporation’s public disclosure record. Although the Corporation has attempted to identify important factors that could affect the Corporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Table 2: Assay Results to Accompany Midas Gold Corp. News Release dated February 27, 2012

HOLE ID	Hole Type	Target Area	From (m)	To (m)	Interval (m)3	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-1231	Core	Hangar Flats	86.3	96.9	10.7	0.86	1.0	0.00	0.01
MGI-11-1272	Core	Yellow Pine	24.4	155.1	130.80	2.25	1.7	0.06	0.005
Including			24.4	50.8	26.4	3.13	2.3	0.09	0.001
And			164.3	191.7	27.4	1.83	Pending	Pending	Pending
MGI-11-145	Core	Yellow Pine	112.5	149.2	36.7	2.08	9.1	0.56	0.103
MGI-11-156	RC	Yellow Pine	16.8	39.6	22.9	1.75	3.3	0.08	0.004
			80.8	94.5	13.7	2.59	0.7	0.00	0.001
MGI-11-162	Core	Hangar Flats	49.7	57.9	8.2	0.97	1.1	0.00	0.003
			127.7	132.3	4.6	0.97	0.8	0.00	0.003
			157.6	166.7	9.1	0.78	1.4	0.01	0.005
			177.4	192.9	15.5	3.25	2.6	0.01	0.005
MGI-12-164	RC	Hangar Flats	15.2	24.4	9.1	2.77	13.2	0.57	0.003
MGI-12-165	RC	Hangar Flats	13.7	24.4	10.7	2.93	2.2	0.01	0.001
			53.3	67.1	13.7	1.49	0.6	0.01	0.002
			80.8	89.9	9.1	0.56	0.3	0.00	0.002
			105.2	129.5	24.4	1.66	1.7	0.09	0.002
			135.6	173.7	38.1	0.91	1.7	0.05	0.002
			181.4	214.9	33.5	1.86	1.7	0.01	0.002
			251.5	265.2	13.7	1.40	10.2	0.67	0.189
			277.4	292.6	15.2	1.21	13.9	0.91	0.002
MGI-12-166	Core	Hangar Flats	43.6	48.2	4.6	1.87	1.5	0.01	0.007
			162.5	167.0	4.6	4.57	3.5	0.01	0.008
MGI-12-167	RC	Hangar Flats	169.2	176.8	7.6	0.99	1.6	0.01	0.006
			240.8	248.4	7.6	0.82	1.3	0.00	0.005
MGI-12-1684	RC	Hangar Flats	199.6	204.2	4.6	1.06	2.7	0.08	0.004
			211.8	216.4	4.6	1.06	2.4	0.12	0.003
			236.2	248.4	12.2	1.19	1.9	0.02	0.003
			253.0	307.9	54.9	1.14	24.6	1.56	0.030
Including			277.4	307.9	30.5	1.43	43.5	2.78	0.052
MGI-12-1694	RC	Hangar Flats	0.0	7.6	7.6	0.65	1.8	0.05	0.007
			67.1	71.6	4.6	1.58	3.3	0.03	0.005
			129.5	143.3	13.7	1.14	1.7	0.00	0.003
			195.1	210.3	15.2	0.85	0.7	0.07	0.002
			219.5	233.2	13.7	1.27	1.3	0.00	0.002
			246.9	286.5	39.6	1.20	1.2	0.01	0.002
MGI-12-170	RC	Hangar Flats	150.9	155.5	4.6	0.76	1.2	0.01	0.010
MGI-12-171	RC	Hangar Flats	129.5	137.2	7.6	1.29	1.0	0.00	0.003
MGI-12-173	RC	Hangar Flats	25.9	30.5	4.6	1.50	1.7	0.01	0.014
			70.1	76.2	6.1	1.44	0.8	0.00	0.006
MGI-12-174	RC	Hangar Flats	25.9	30.5	4.6	0.85	1.7	0.02	0.004
			94.5	103.6	9.1	0.85	0.8	0.00	0.020
MGI-12-1782	RC	Hangar Flats	0.0	4.6	4.6	0.81	2.5	0.01	0.010

(1) Assays for portions of this hole were previously reported
(2) The bottom portions of these holes are incomplete and are not reported.
(3) Based upon the current 3D interpretation of the Hangar Flats, West End and Yellow Pine deposits the intervals quoted here are at or near true thickness and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(4) These holes bottomed in mineralization.

MIDAS GOLD COMPLETES C$40.4 MILLION FINANCING, INCLUDING EXERCISE OF OVER-ALLOTMENT OPTION

Midas Gold Corp. (“Midas Gold” or the “Company”) (TSX: MAX) today announced that it has completed the previously announced private placement financing of a total of 9,085,000 special warrants (the “Special Warrants”) of the Company at a price of C$4.45 for aggregate gross proceeds of C$40,428,250 (the “Offering”). The Offering includes 7,900,000 Special Warrants and the exercised over-allotment option (the “Over-Allotment Option”) to purchase an additional 1,185,000 Special Warrants of the Company. The syndicate of underwriters, led by Haywood Securities Inc., and including Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets and Desjardins Securities Inc. received a cash fee equal to 5.0% of the total gross proceeds from the sale of Special Warrants under the Offering and the Over-Allotment Option.

The Company intends to use the net proceeds of the Offering for exploration and potential development of its Golden Meadows Project in central Idaho, and for general working capital purposes.

Each Special Warrant is exercisable into one common share of the Company (a “Common Share”) for no additional consideration at any time after the Closing Date (as defined below), and all unexercised Special Warrants will be deemed to be exercised on the earlier of (a) the date on which a receipt for a final short form prospectus (the “Qualifying Prospectus”) qualifying the Common Shares to be issued upon the exercise of the Special Warrants has been issued by the Securities Commissions in British Columbia, Alberta, Ontario and New Brunswick (the “Offering Provinces”), or (b) four months and one day after the date of closing of the Offering (the “Closing Date”).

Midas Gold has agreed to use commercially reasonable efforts to file and obtain a receipt for the Qualifying Prospectus qualifying the conversion of the Special Warrants in the Offering Provinces. In the event that a final receipt for the Qualifying Prospectus is not obtained prior to the date that is 60 days following the Closing Date, each Special Warrant shall thereafter be exercisable into 1.1 Common Shares (in lieu of 1.0 Common Share).

On Behalf of the Board of Directors

MIDAS GOLD CORP.

Per: Stephen Quin

President & CEO

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, potential future development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors and are described in a technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company’s properties; the approval of the Qualifying Prospectus; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed.

The mineral resources at Golden Meadows are contained within areas that have seen historic disturbance resulting from prior mining activities. In order for Midas to advance its interests at Golden Meadows, the project will be subject to a number of Federal, State and local laws and regulations and will require permits to conduct its activities.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Company’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations.

Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Company’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Company’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Company’s public disclosure record.

Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

THIS PRESS RELEASE IS NOT FOR US DISTRIBUTION AND IS NOT A SOLICITATION OR A PROSPECTUS FOR STOCK

MIDAS GOLD REPORTS HIGH GRADE AU-SB-AG-W MINERALIZATION AT ITS GOLDEN MEADOWS PROJECT, IDAHO

MGI-11-057 intersects 175.9m of 2.56g/t Au, 2.4g/t Ag and 0.22% Sb, including higher grade intervals
MGI-11-134 intersects 23.3m of 2.12g/t Au and 332g/t Ag including 2.4m of 1.4g/t Au, 3,160g/t Ag, 0.15% Sb and 0.85% W
MGI-11-152 intersects 22.9m of 4.91g/t Au and 1.9g/t Ag
MGI-11-159 intersects 44.2m of 2.04g/t Au, 4.7g/t Ag and 0.43% Sb

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced further assay results from its ongoing exploration and definition core and reverse circulation (“RC”) drilling program on the Hangar Flats and Yellow Pine deposits at its Golden Meadows Project, Idaho. Previously reported 2011 assay results can be reviewed on the Corporation’s website. Newly received results are summarized in Table 1, below, and highlight the discovery of new areas of high grade gold-silver-antimony +/- tungsten mineralization within the Hangar Flats and Yellow Pine deposits. Complete results are tabulated in Table 2 attached at the end of this news release.

Table 1: Highlights of Recent Assay Results

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(1)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-057(2)	Core	Yellow Pine	136.3	312.1	175.9	2.56	2.4	0.22	0.002
including			180.8	182.3	1.5	5.78	4.8	5.78	0.006
including			273.9	276.9	3.0	3.39	14.3	2.20	0.002
including			295.1	296.3	1.2	5.74	6.0	2.69	0.000
MGI-11-060(2)	Core	Yellow Pine	174.7	215.8	41.1	2.97	1.7	0.00	0.003
including			194.5	199.0	4.5	9.77	4.0	0.01	0.005
MGI-11-105	Core	Yellow Pine	86.0	106.7	20.7	1.00	0.8	0.00	0.003
and			125.7	211.2	85.5	1.88	3.6	0.00	0.005
MGI-11-126	Core	Yellow Pine	35.1	70.1	35.0	2.62	4.6	0.42	0.002
including			36.6	42.7	6.1	2.54	19.0	1.49	0.001
MGI-11-131(3)	Core	Yellow Pine	178.6	219.8	41.1	1.53	1.4	0.01	0.002
MGI-11-134	Core	Hangar Flats	194.9	218.2	23.3	2.12	332.6	0.10	0.094
including			215.8	218.2	2.4	1.40	3,160.0	0.15	0.851
MGI-11-138	Core	Yellow Pine	146.3	201.2	54.9	1.73	2.7	0.01	0.003
and			275.8	301.8	25.9	1.03	2.2	0.01	0.003
MGI-11-148(4)	RC	West End	0.0	36.6	36.6	2.24	4.3	0.01	0.001
MGI-11-152	Core	Yellow Pine	88.4	111.3	22.9	4.91	1.9	0.00	0.008
MGI-11-159	Core	Yellow Pine	73.2	117.4	44.2	2.04	4.7	0.43	0.004

(1) Based upon current 3D interpretations the intervals quoted here are at or near true thickness unless otherwise noted and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(2) Assays for portions of these holes were previously reported, but the intervals reported herein were not.
(3) True thickness uncertain.
(4) Pre-collar, top of hole only drilled with RC, and remainder of hole using core not yet completed.

“The results from Hangar Flats hole MGI-11-134, drilled adjacent and beneath the original 1900’s era discovery outcrop at Hangar Flats that led to the development of the underground Meadow Creek Mine in the 1920s, and the high grade gold-antimony-silver mineralization intercepted by in-fill drill holes at Yellow Pine illustrate the potential for adding value to our gold mineral resource base through by-products from our discoveries on our Golden Meadows Project in Idaho,” said Stephen Quin, President and CEO of Midas Gold Corp. “Our ongoing exploration compilation and in-fill drilling is providing support for our emphasis on defining a multi-product process flow sheet for the metal-rich mineralized systems present on our large property position,” he said.

2011 Program

This drilling is being undertaken as part of a program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. Four core rigs, one sonic rig and two RC rigs are currently on site. Our in-fill and step-out drilling program is continuing through the winter, while drilling that is more exploration-focused is subject to obtaining necessary permits.

Hangar Flats is a high-grade gold-silver-antimony-tungsten discovery made by Midas Gold in 2009 adjacent to the high grade underground Meadow Creek antimony-gold-silver mine that operated in the 1920s to early 1930s. Yellow Pine is a significant past producer of gold, silver, antimony and tungsten from the 1930s through the mid-1950s. The Homestake pit, located at the northeast end of the Yellow Pine deposit, was operated by Hecla Mining Company from 1987 through 1989. While gold, silver and antimony tend to occur in approximately the same areas, the mineralizing events are distinct and, as a result, the gold-based cut-off used to report results herein do not necessarily best illustrate the silver and, especially, the antimony values. Tungsten values tend to be much more geographically limited and, where they do occur, tend to be diluted down to low values over the long intervals of gold mineralization reported but nevertheless could represent a significant by-product opportunity. Holes MGI-11-057 and 11-134, reported herein, are good examples of narrower, high grade silver, antimony and/or tungsten occurring within a broader envelope of gold mineralization.

Recent Drill Results

During 2011, 23,860m of core and RC drilling was completed in 107 holes, excluding sonic drilling completed for geotechnical purposes. Following this announcement, approximately 940 assays remain outstanding out of 23,060 samples submitted for analysis from the 2011 drilling. 2012 drilling commenced in mid-January and currently comprises three core and two RC rigs, with a fourth core rig scheduled to commence drilling shortly. The sonic drill should resume geotechnical drilling once approval processes are completed.

Core holes MGI-11-057, 11-060, 11-105, 11-126, 11-131, 11-132 and 11-138 were drilled within and beneath the known mineral resource at Yellow Pine in order to upgrade the confidence level of the mineral resources, to test mineralization at depth and to provide metallurgical samples. Two of the holes, MGI-11-57 and 11-60 were collared, but not completed early in the 2011 field season; these partially completed holes were re-entered and completed later in the 2011 season and final results from these holes are reported herein. Results from these drill holes are consistent with historic drill program results, providing confidence in Midas Gold’s prior mineral resource models and, in some cases, indicate that additional mineralization may be present outside the modeled pit that limited these mineral resources. This is illustrated by hole MGI-11-138 (drilled near the historic Monday Tunnel on the south end of the mineral resource model), which cut mineralization approximately 75m beneath the modeled resource-limiting pit, and hole MGI-11-131 (a geotechnical hole, drilled in the main deposit area), which cut mineralization approximately 100m west of a fault previously thought to limit mineralization and approximately 65m below the currently modeled resource-limiting pit.

Holes reported herein, including MGI-11-150, 11-152, 11-153, 11-154, 11-155, 11-157, 11-158, 11-159 and 11-160 were drilled to confirm past drilling and test beneath or laterally the area within the Homestake portion of the Yellow Pine deposit. Drill results from this area continue to show mineralization to the west of the previously modeled resource.

Drill holes MGI-11-119, 11-123, 11-134 and 11-143 were drilled at Hangar Flats. Holes 11-123 and 11-143 were geotechnical holes that cut several narrow, but good grade gold intercepts outside of the previously defined mineralizing envelope, suggesting Midas Gold has not yet found the limits of this large system. Holes MGI-11-119 and 11-134 confirm Midas Gold’s geologic model in the near surface, but also indicate that portions of the previously modeled mineral resource may be cut-off by post-mineral faulting. Hole 11-134, which was drilled to test under the original 1900’s era discovery outcrop, cut high grade silver-tungsten mineralization along with strong antimony-gold mineralization down dip of the discovery outcrop. This drilling confirms a historic 1919 Idaho State Mine Inspector report noting “… a bold, zonal mineral outcropping… said to carry average values of 17 ounces silver and several dollars gold associated with disseminated antimony sulphide that, is believed will afford a high grade concentrate…”.

Details of prior mineral resource estimates can be found in the NI43-101 Technical Report filed under Midas Gold’s profile on SEDAR (www.sedar.com).

To view the locations of current drill holes, please click here.

Quality Assurance

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 (“NI43-101”) and reviewed and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp. (the “Corporation”), and a Qualified Person. The exploration activities at Golden Meadows were carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Project Manager for the Golden Meadows Project.

All gold assays are by a 30g Fire Assay charge followed by an atomic absorption finish (with a 0.005g/t lower reporting limit). Samples reporting values > 6g/t are re-analyzed using a 30g Fire Assay charge followed by a gravimetric finish. Silver is analyzed via a 4-acid digestion followed by an ICP finish (with a 0.5g/t lower reporting limit). Samples reporting values > 10g/t Ag are reanalyzed using a 2g ICP-AES, four acid digest, while samples reporting > 750g/t Ag are reanalyzed using a 30g Fire Assay charge followed by a gravimetric finish. Antimony is analyzed via a 4-acid digestion followed by an ICP finish (with a 5.0g/t lower reporting limit). Samples reporting values > 2,000g/t Sb are reanalyzed using XRF with a 0.9g charge in a Lithium Borate fusion (with a 0.01% lower reporting limit).

All composites utilize a 0.5g/t gold cut off and may include up to 3.05 meters of internal waste. Internal waste has been assigned a nominal grade of 0.0g/t. Composites above cut-off grade, but less than 6.1 meters in length, are not reported. Some intervals may not add or subtract correctly due to rounding, but are deemed insignificant. Analyses are carried out by ALS CHEMEX in their Reno and Winnemucca, Nevada and Vancouver, British Columbia laboratories. Blank and standard samples are used for quality assurance and quality control and a review of the results of analyses of the blanks, standards and duplicates by the Corporation’s Qualified Person indicates values are within normal and acceptable ranges.

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization. Since Midas Gold’s acquisition of the project in the spring of 2009, the Corporation has completed over 162 core and RC holes totalling over 36,700 metres, as well as completing an extensive airborne geophysical program that not only outlined the three known gold deposits, but has identified a number of significant new anomalies within Midas Gold’s extensive property holdings. Regional exploration programs are planned to evaluate these newly identified, extensive anomalies.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Corporation’s properties; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Corporation’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Corporation’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Corporation’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Corporation’s public disclosure record. Although the Corporation has attempted to identify important factors that could affect the Corporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Table 2: Recent Assay Results from Golden Meadows Project
To accompany Midas Gold news release dated February 1, 2012

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(1)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-057(2)	Core	Yellow Pine	136.3	312.1	175.9	2.56	2.4	0.22	0.002
including			180.8	182.3	1.5	5.78	4.8	5.78	0.006
including			273.9	276.9	3.0	3.39	14.3	2.20	0.002
including			295.1	296.3	1.2	5.74	6.0	2.69	0.000
MGI-11-060(2)	Core	Yellow Pine	174.7	215.8	41.1	2.97	1.7	0.00	0.003
including			194.5	199.0	4.5	9.77	4.0	0.01	0.005
			328.9	341.1	12.2	0.80	0.9	0.00	0.002
MGI-11-105	Core	Yellow Pine	86.0	106.7	20.7	1.00	0.8	0.00	0.003
And			110.5	118.3	7.8	1.89	1.5	0.00	0.011
And			125.7	211.2	85.5	1.88	3.6	0.00	0.005
MGI-11-119	Core	Hangar Flats	188.7	194.8	6.1	2.61	1.0	0.00	0.006
And			218.5	223.1	4.6	1.04	0.5	0.00	0.003
MGI-11-123	Core	Hangar Flats	29.6	34.1	4.6	1.11	2.7	0.01	0.010
			40.5	55.8	15.2	0.48	1.5	0.01	0.009
MGI-11-126	Core	Yellow Pine	35.1	70.1	35.0	2.62	4.6	0.42	0.002
including			36.6	42.7	6.1	2.54	19.0	1.49	0.001
MGI-11-131(4)	Core	Yellow Pine	178.6	219.8	41.1	1.53	1.4	0.01	0.002
And			236.5	245.7	9.1	0.69	0.6	0.00	0.001
MGI-11-132(2)	Core	Yellow Pine	122.8	127.4	4.6	1.52	1.1	0.00	0.001
			160.9	171.3	10.4	1.38	3.1	0.00	0.000
			192.9	207.6	14.6	1.31	4.7	0.01	0.001
MGI-11-134	Core	Hangar Flats	185.3	190.4	5.0	2.73	2.4	0.17	0.005
And			194.9	218.2	23.3	2.12	332.6	0.10	0.094
including			215.8	218.2	2.4	1.40	3,160.0	0.15	0.851
MGI-11-138	Core	Yellow Pine	146.3	201.2	54.9	1.73	2.7	0.01	0.003
And			216.4	224.0	7.6	0.53	2.0	0.01	0.001
And			275.8	301.8	25.9	1.03	2.2	0.01	0.003
MGI-11-143	Core	Hangar Flats	133.5	138.1	4.6	0.84	5.6	0.01	0.004
And			158.8	166.4	7.6	1.26	1.4	0.00	0.003
And			299.3	303.9	4.6	2.16	1.0	0.00	0.002
MGI-11-147	RC	Yellow Pine	13.7	18.3	4.6	1.64	2.3	0.04	0.001
MGI-11-148(3)	RC	West End	0.0	36.6	36.6	2.24	4.3	0.01	0.001
MGI-11-150	RC	Yellow Pine	70.1	86.9	16.8	1.77	1.3	0.00	0.002
MGI-11-152	Core	Yellow Pine	88.4	111.3	22.9	4.91	1.9	0.00	0.008
MGI-11-153	RC	Yellow Pine	25.9	36.6	10.7	1.39	2.4	0.00	0.002
And			41.2	47.2	6.1	0.90	0.7	0.00	0.004
MGI-11-154	RC	Yellow Pine	13.7	21.3	7.6	2.39	5.5	0.57	0.005
And			35.1	45.7	10.7	4.58	4.9	0.01	0.004
And			68.6	82.3	13.7	1.96	1.9	0.06	0.001
MGI-11-155	RC	Yellow Pine	41.2	45.7	4.6	3.44	3.9	0.23	0.004
And			57.9	62.5	4.6	3.18	1.9	0.01	0.004
And			80.8	103.6	22.9	1.55	1.0	0.01	0.002
MGI-11-157	RC	Yellow Pine	64.0	76.2	12.2	2.07	4.4	0.01	0.003
And			99.1	125.0	25.9	3.18	1.9	0.10	0.001
MGI-11-158	RC	Yellow Pine	21.3	33.5	12.2	0.74	0.5	0.00	0.003
And			68.6	80.8	12.2	1.74	0.3	0.00	0.001
MGI-11-159	RC	Yellow Pine	73.2	117.4	44.2	2.04	4.7	0.43	0.004
MGI-11-160	RC	Yellow Pine	54.9	68.6	13.7	1.41	0.3	0.00	0.002

(1) Based upon current 3D interpretations the intervals quoted here are at or near true thickness unless otherwise noted and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(2) Assays for portions of these holes were previously reported, but the intervals reported herein were not.
(3) Pre-collar, top of hole only and hole not yet completed.
(4) True thickness uncertain

MIDAS GOLD ANNOUNCES CDN$35 MILLION FINANCING

Not for distribution to United States newswire services or for dissemination in the United States

Midas Gold Corp. (“Midas Gold” or the “Company”) (TSX: MAX) today announced that it has entered into an agreement with a syndicate of underwriters, led by Haywood Securities Inc., and including Macquarie Capital Markets Canada Ltd., BMO Capital Markets, RBC Capital Markets Inc. and Desjardins Securities Inc. (collectively the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 7,900,000 special warrants (the “Special Warrants”) of the Company at a price of CDN$4.45 per Special Warrant, for gross proceeds of CDN$35,155,000 (the “Offering”). The Company intends to use the net proceeds of the Offering for exploration and development of its Golden Meadows Project in central Idaho, and for general working capital purposes.

Each Special Warrant will be exercisable into one common share of the Company (a “Common Share”) for no additional consideration at any time after the Closing Date (as defined below), and all unexercised Special Warrants (other than Special Warrants sold in the Province of Quebec) will be deemed to be exercised on the earlier of (a) the date on which a receipt for a final prospectus (“the Qualifying Prospectus”) qualifying the Common Shares to be issued upon the exercise of the Special Warrants has been issued by the relevant securities commission(s), or (b) four months and one day after the date of closing of the Offering (the “Closing Date”). All Special Warrants in the Province of Quebec will be deemed to be exercised on the date that is four months and a day following the Closing Date.

In addition, the Underwriters have also been granted an option to purchase up to an additional 1,185,000 Special Warrants on the same terms as set out above (the “Over-Allotment Option”), which may be exercised at any time up to 24 hours prior to the Closing Date, for additional proceeds of up to CDN$5,273,250. The Underwriters will be paid a cash fee equal to 5.0% of the total gross proceeds from the sale of Special Warrants under the Offering and the Over-Allotment Option.

The Special Warrants to be sold under this Offering will be offered by way of a private placement in all of the Provinces of Canada and will also be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The Offering is scheduled to close on February 14, 2012 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX, and other securities regulatory authorities as applicable. Midas Gold has agreed to use commercially reasonable efforts to file and obtain a receipt for the Qualifying Prospectus qualifying the conversion of the Special Warrants in all Provinces of Canada, with the exception of Quebec. In the event that a final receipt for the Qualifying Prospectus is not obtained prior to the date that is 60 days following the Closing Date, each Special Warrant shall thereafter be exercisable into 1.1 Common Shares (in lieu of 1.0 Common Share).

On Behalf of the Board of Directors

MIDAS GOLD CORP.

Per: Stephen Quin

President & CEO

About Midas Gold and the Golden Meadows Project
Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Forward-Looking Statements

Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Company’s properties; the timing of completion of the Offering and Over-Allotment Option; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2012 will be consistent with the Company’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Company’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Company’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Company’s public disclosure record. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

MIDAS GOLD OUTLINES INITIAL WORK PLAN & BUDGET FOR ITS GOLDEN MEADOWS PROJECT, IDAHO

Parallel Tracking of Mineral Resource Delineation and Expansion, Economic Studies and Exploration

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced that its board of directors has approved an initial budget and work plan for its 11,600 hectare Golden Meadows Project in Valley County, Idaho.

Drilling has recommenced on site and approximately 16,000 to 17,000m of drilling are planned for the first five months of 2012, focused on the continued definition and expansion of the existing mineral resources at Golden Meadows, with drilling split into two phases. Phase 1 will wrap up drilling at Hangar Flats and Yellow Pine originally planned for 2011 that will be used to update the mineral resource estimates for the three main deposits and incorporate those estimates into an independent preliminary economic assessment (“PEA”) scheduled for completion during 2012. Phase 2 drilling, commencing in February until spring thaw, will focus in definition and step out drilling at both the Hangar Flats and Yellow Pine deposits in support of a planned subsequent preliminary feasibility study (“PFS”). Exploration drilling, for entirely new deposits, will run in parallel with the Phase 2 drilling and is subject to the granting of additional permits. Total drilling and related expenditures during Phase 1 and Phase 2 are expected to total approximately US$9 million.

In parallel with the drilling and completion of the PEA, Midas Gold plans to commence, to the extent reasonable, the process of advancing the project towards completion of a PFS, including the Phase 2 drilling noted above, extensive metallurgical, mine planning, engineering and other work, and to continue to advance environmental baseline studies and monitoring activities in support of potential permit applications, as well as all camp, logistics and support for the drilling activities. It is estimated that these additional technical, environmental and permitting activities, as well as camp and support costs but excluding drilling and related costs, will result in additional expenditures of approximately US$7 to US$8 million in the first half of 2012.

Significant additional work, including extensive drilling, is planned for the second half of 2012, but the scope of such work will be determined once mineral resource updates and technical studies have been completed, and is subject to additional permitting requirements.

“With three significant gold deposits already defined at its Golden Meadows Project in Idaho, Midas Gold is parallel tracking the delineation of those deposits, the evaluation of their economic potential and the exploration of the balance of its highly prospective property holdings,” said Stephen Quin, President & CEO of Midas Gold Corp. “The high grade, near surface nature of our gold deposits warrants a substantial commitment to advancing the Golden Meadows Project towards an economic evaluation as rapidly as practicable. Overlapping resource definition, economic studies, environmental baseline, regulatory activities, and exploration should reduce the overall timeframe to more fully determine and define the ultimate potential of this major gold system.”

Initial 2012 Program
Given that Midas Gold has not yet updated its mineral resource estimates to incorporate the results of the 2011 drilling, nor completed its first economic evaluation on the Golden Meadows Project, the initial 2012 work plan and budget has been designed to complete these studies, while continuing to progress the project towards the subsequent objectives of completing a PFS and potential permitting of a mining operation. In order to achieve and accelerate these objectives in a time-effective manner, Midas Gold plans to conduct its work on three parallel tracks:

Track 1 - Complete a PEA: Complete a limited amount of additional drilling on the Yellow Pine and Hangar Flats deposits (Phase 1), and possible extensions, that (combined with the 2011 and prior drilling) will be utilized in preparing an independent, updated mineral resource estimate for each of the Hangar Flats, Yellow Pine and West End deposits during Q2/11. These updated mineral resource estimates will be used to complete an independent PEA in Q3/12.

Track 2 - Advance a PFS: In parallel and overlapping with Track 1, advance the project towards completion of an independent PFS. As much as possible, work currently being undertaken for the PEA is being done to PFS standards, but additional infill drilling (Phase 2 and subsequent drilling) will be required to continue converting any remaining inferred mineral resources to higher levels of confidence, as will further metallurgical work beyond that being used in the PEA, plus additional engineering and other studies. By completing as much of the work currently underway as possible to PFS standards, the overall timeframe to complete a PFS should be reduced.

Track 3 - Exploration for new deposits: In order to build a pipeline of potential new mineral prospects that could eventually develop into new mineral resources, Midas Gold plans to conduct systematic, intensive exploration across its Golden Meadows Property. A full pipeline, from early stage prospects to resource definition, will assist Midas Gold in determining the ultimate mineral potential of this prolific gold system. This exploration work, involving mapping, sampling, geophysics and drilling, will be conducted in parallel with Track 1 and Track 2.

SRK Consulting (Canada) Inc. (“SRK”) has been retained to complete updating of the mineral resource estimates for the Golden Meadows project, as well as to complete the independent, National Instrument 43-101 compliant PEA. SRK has retained Ausenco to assist with the processing and infrastructure aspects of the PEA, and is working with Blue Coast Metallurgy on the mineralogical and metallurgical aspects of the project.

Initial Work Plan

During Phase 1 and Phase 2 of drilling program, approximately US$9.0 million will be spent on infill, step-out and exploration drilling utilizing four core and two reverse circulation (“RC”) drill rigs, assisted by a sonic rig, which should complete 16,000m to 17,000m of drilling during this period, prior to the spring thaw.

In Phase 1, one core drill will complete drilling three holes at Yellow Pine which, in conjunction with the 2011 drilling, will be used to update the Yellow Pine mineral resource estimate. At the same time, two RC and three core rigs will commence additional drilling at Hangar Flats, focused on the northern and southern ends of the Hangar Flats mineralized system, with the objective of increasing the mineral resource, increasing the confidence level of the existing mineral resource and reducing the overall strip ratio by potentially converting unclassified mineralization to mineral resources. This drilling should be completed in February and, as with Yellow Pine, will be used (in conjunction with the 2011 and earlier drilling) to update the Hangar Flats mineral resource estimate.

Only limited drilling was completed at West End in 2011 and no more drilling is planned until the second half of 2012 in this area, so geologic modelling and updating of the mineral resource estimate for West End is already in process and will include both 2010 and 2011 drilling not previously not incorporated into the mineral resource estimate announced on February 22, 2011.

As drills complete Phase 1 of the drilling outlined above, they will immediately commence Phase 2 drilling, infilling and stepping out on the Hangar Flats and Yellow Pine deposits in support of the PFS, and continue drilling until spring thaw and are expected to resume drilling once conditions dry out, at which time drilling on the West End deposit can also recommence.

During Phase 1 and Phase 2, one or more drills will be assigned to exploring new prospects for their potential to host entirely new deposits, subject to granting of the necessary permits. It is anticipated that infill, step out and exploration drilling will continue through the balance of the year, but where and how much will be determined once the updated mineral resource estimates have been evaluated for needed additional in fill and step out drilling to fully define all three deposits, and granting of additional permits.

Additional expenditures will be incurred in parallel with the Phase 1 and Phase 2 drilling towards preparation of environmental baseline studies and an environmental impact statement, as well as other permitting and regulatory activities. Midas Gold has retained HDR Engineering Inc. of Boise, Idaho, to assist with the environment baseline and permitting related matters. In support of the PEA and subsequently planned PFS, the extensive metallurgical studies currently underway will continue under the supervision of Blue Coast Metallurgy, as will engineering and other work leading up to completion of the PEA in Q3/12 and subsequent studies under SRK and Ausenco. An additional $0.7 million of capital equipment purchases are planned related to continuing to improving camp, field facilities and communications and network infrastructure to support sustained, higher levels of field activities over the next several years.

2011 Exploration Activities & Expenditures

As previously reported, a total of 107 holes totaling 23,860m were completed during the 2011 field season. This total excludes sonic drill holes completed for geotechnical purposes and includes 10,533m of RC and 13,327m of core drilling, and was designed to confirm and expand known mineral resources and potentially discover new mineralized areas. In addition, extensive metallurgical, geotechnical, engineering and other work was undertaken in preparation for completion of the planned PEA, but such work is generally being undertaken to PFS standards, where practicable. Expenditures in 2011 were approximately US$19.9 million, including infill and step out drilling, geotechnical drilling, assaying, the airborne EM survey and other exploration activities, while an additional approximately US$1.3 million was spent on PEA related activities, including metallurgical testing, engineering and geotechnical work, as well as on permitting, environmental baseline, environmental monitoring, voluntary environmental remediation and regulatory activities. In addition, approximately US$2.6 million in capital expenditures were incurred to improve site infrastructure so that field activities can be sustained at high levels throughout the year (including the winter), including purchase and installation of three 22-man trailer camps, additional camp infrastructure, offices, equipment purchases such as bulldozers and loaders to support field activities and clear snow, and constructing a covered fuel tank farm and helicopter hanger on site suitable for winter operations. These capital expenditures will support sustained field activities for several years.

As a result of these expenditures, a significant proportion of which were essential, one-time expenditures, Midas Gold ended 2011 with approximately US$37 million in cash.

Quality Assurance

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 (“NI43-101”) and reviewed and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp., and a Qualified Person. The exploration activities at Golden Meadows are carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Project Manager for the Golden Meadows Project.

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold Inc., and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization.

Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Corporation’s properties; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2011 will be consistent with the Corporation’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Corporation’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Corporation’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Corporation’s public disclosure record. Although the Corporation has attempted to identify important factors that could affect the Corporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

MIDAS GOLD INFILLS & EXTENDS YELLOW PINE & WEST END DEPOSITS, GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-11-057 intersects 100.3m of 2.95g/t Au & 117.7m of 2.29g/t Au, infilling Yellow Pine Holes MGI-11-135 intersects 35.1m of 1.85g/t Au, 10.2g/t Ag and 0.45% Sb, extending Yellow Pine Holes MGI-11-139 & -149 intersect 70.1m of 2.19g/t Au and 71.6m of 4.21 g/t Au at West End, respectively

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results from its 2011 core and reverse circulation (“RC”) drilling program on its Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. Results include infill and extensions to the Yellow Pine deposit and extensions to the West End deposit below the previously modeled mineral resource.

Highlights of assay results from the most recent holes are summarized in the Table 1, below, with more detailed results in Table 2, at the end of the release. Additional results from the ongoing program will be released when assays are received and validated.

Table 1: Highlights of Recent Drill Results from Golden Meadows

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(1)	Gold (g/t)	Silver (g/t)	Antimony (%)
MGI-11-057(2)	Core	Yellow Pine	30.2	130.5	100.3	2.95	2.6	0.07
And			136.3	253.9	117.7	2.29	1.6	0.17
MGI-11-061(2)	Core	Yellow Pine	235.9	342.6	106.7	2.70	2.0	0.01
Including			306.0	329.2	23.2	3.81	2.3	0.00
MGI-11-116	RC	Yellow Pine - Homestake Area	96.0	134.1	38.1	3.03	10.2	0.43
Including			103.6	129.5	25.9	3.97	13.4	0.58
MGI-11-135	RC	Yellow Pine - Monday Tunnel	51.8	86.9	35.1	1.85	10.2	0.45
MGI-11-137	RC	West End	83.8	117.4	33.5	2.74	0.8	0.01
And			125.0	155.5	30.5	2.02	0.7	0.00
And			175.3	184.4	9.1	0.90	2.7	0.01
MGI-11-139	RC	West End	254.5	259.1	4.6	1.50	0.2	0.00
And			263.7	333.8	70.1	2.19	1.1	0.00
Including			269.8	324.6	54.9	2.63	1.3	0.00
And			341.4	349.0	7.6	0.60	0.9	0.00
MGI-11-140	RC	Yellow Pine - Monday Tunnel	61.0	120.4	59.4	2.80	4.5	0.10
MGI-11-149	RC	West End	0.0	71.6	71.6	4.21	3.0	0.01
Including			13.7	65.5	51.8	5.37	3.6	0.01

(1) Based upon the current 3D interpretation of the Hangar Flats, West End and Yellow Pine deposits the intervals quoted here are at or near true thickness and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(2) Assays for portions of this hole were previously reported.

“The results of our recent drilling, outside of the previously defined mineral resource limits, has once again demonstrated the outstanding exploration potential of our Golden Meadows Project in Idaho,” said Stephen Quin, President and CEO of Midas Gold Corp. “Drilling at the south end of the Yellow Pine deposit, combined with the historic underground drilling and sampling data from the Monday Tunnel, our 2010 ground geophysical surveys and our 2011 Airborne EM survey, clearly demonstrates that the large Yellow Pine mineralized system is open to the south, towards the Hangar Flats deposit, along the trace of the highly productive Meadow Creek Fault System,” he said. “In addition, drilling at West Endcut thick intervals of strong gold mineralization up to 100 metres below the modeled mineral resource limiting pit bottom and indicates potential for future resource expansions on this large gold system.”

Previous 2011 assay results were reported in other news releases that can be found on Midas Gold’s web site at www.midasgoldcorp.com.

2011 Exploration Program
A total of 109 holes (42 core, 57 RC and 11 pre-collar RC) totaling 25,360 metres were completed during the 2011 field season. This includes 10,897 metres of RC and 12,230 metres of core drilling. This drilling is being undertaken as part of a mineral resource definition and exploration program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. Four core rigs, two reverse circulation rigs and a single sonic rig are currently on site and drilling will recommence once crews return from holiday break.

Yellow Pine - Monday Tunnel Extension
Four fanned RC holes (MGI-11-135, -138, -140, and -141), totaling 1,066.8 metres, were completed off a single pad several hundred metres southwest of the limits of the past producing Yellow Pine pit and northeast of a zone of mineralization reportedly cut in the historic Monday Tunnel during 1920’s and 1930’s era exploration and development work. The holes tested below and on strike of the mineralization intersected in the historic Monday Tunnel and underground drill intercepts completed from the tunnel. Results were highly encouraging and are consistent with Midas Gold’s interpretations of the mineralization in this area, with the three of four holes for which results are available hitting significant mineralization along a faulted contact between quartz monzonite to the northwest and altered metasedimentary rocks, mostly sericitized quartz biotite schists, to the southeast. The strongest mineralization occurs in a steeply west to vertical dipping lens within the intrusive rocks, with a broad, low grade zone of more diffuse mineralization in the metasedimentary rocks to the southeast.

Yellow Pine - Infill Drilling
Infill drilling within the Yellow Pine mineral resource estimate continues to demonstrate significant thicknesses of good grade gold mineralization, such as holes MGI-11-057 and -061 (partial results for which were previously announced) and holes MGI-11-105 and -115, while holes completed in the Homestake area on the northeastern end of the Yellow Pine deposit (including holes MGI-11-098, -116, -117 and -128) continue to intercept one or more stacked zones of gold mineralization in an area with limited mineral resources based on prior estimates, supporting the potential to define additional mineral resources in this area.

West End
In the West end area, nine RC holes were pre-collared and five of these holes were completed in 2011 totaling 1,345.4 metres, less than originally planned due to the late start to drilling in mid-2011. Holes MGI-11-120, -121, -122 and -148 were pre-collars only and drilling will be completed at a later date. Holes MGI-11-137, -139, -142, -149, and -151 were all fill-in or step out holes within the main West End deposit area. Several of these holes were drilled well below the modeled pit to explore the system at depth and all cut significant gold mineralization.

MGI-11-137 was a vertical hole drilled approximately 140m southwest of 2010 hole MGI-10-33 (44.8m grading 1.61g/t Au) and 125m south-southwest of MGI-10-40 (20.1m grading 1.51g/t Au and 48.8m grading 1.51g/t Au). The hole successfully intersected mineralization approximately 60m below the bottom of the modeled resource limiting pit, with increasing grades at depth.

MGI-11-139 was drilled approximately 200m east of and down dip of 2010 hole MGI-10-48 (which cut three strong intercepts, 47m grading 2.64g/t Au, 36m grading 1.64g/t Au and 38m grading 1.44g/t Au). Hole MGI-11-139 cut through a repeated section of weaker mineralization over a 125m interval and, below 264 metres downhole, intersected a thick interval (greater than 79m) of more strongly altered and mineralized intrusive approximately 100 metres below the bottom of the modeled resource limiting pit.

MGI-11-142, drilled vertically, was a step-out hole situated northeast of MGI-10-48 (47m grading 2.64g/t Au, 36m grading 1.64g/t Au and 38m grading 1.44g/t Au) and intersected four thick zones of gold mineralization, including three zones below the modeled resource pit and down dip from the 2010 drill hole intercepts. MGI-11-149, drilled vertically, was a confirmation drill hole designed to fill-in a sparsely drilled portion of the main West End deposit and cut mineralization where expected. Hole MGI-11-151, also drilled vertically, was an exploration hole drilled west of the main West End fault to evaluate an area near where rock samples in 2010 encountered good grades, and successfully intercepted 2.08g/t Au over 18.3m, consistent with the rock samples.

With all West End assays now available, geologic modeling in support of completing an updated mineral resource estimate has commenced and will incorporate the results of 2010 and 2011 drilling not previously utilized in the mineral resource estimate for West End that was announced on February 22, 2011.

Hangar Flats
Results from three holes, MGI-11-103, -119 and -91 (reported previously), collared west of the Meadow Creek Fault and drilled in an easterly direction across the trace of the fault were encouraging and cut significant mineralization, but intersected the Meadow Creek Fault at an orientation slightly different than that predicted, indicating the fault likely cuts off some mineralization predicted by the current mineral resource model. Results from additional holes drilled in this area (MGI-11-134 and -161) and portions of MGI-11-119 are pending.

Flying Dutchman Exploration
Three RC holes (MGI-11-129, -130 and -131) totaling 829.1 metres were drilled to test 1975-era IP anomalies in the project camp and shop area. The main, north-south trending, Scout prospect is several hundred metres north and east of the area evaluated by these drill holes. The holes were, in part, condemnation holes to ensure any additional infrastructure in the camp and shop area was not constructed without evaluating these geophysical features. All the holes hit scattered, highly anomalous gold mineralization, but below cutoff grades utilized for reporting purposes. Locally, weakly anomalous copper, zinc, antimony and tungsten also were present.

Illustrations
Click here to view the locations of current drill holes and other associated maps.

Quality Assurance

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 (“NI43-101”) and reviewed and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp., and a Qualified Person. The exploration activities at Golden Meadows were carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Exploration Manager for the Golden Meadows Project.

All gold assays are by a 30g Fire Assay charge followed by an atomic absorption finish (with a 0.002g/t lower reporting limit). Samples reporting values > 6g/t are re-analyzed using a 30g Fire Assay charge followed by a gravimetric finish. All composites utilize a 0.5g/t cut off and may include up to 1.52 meters of internal waste. Internal waste has been assigned a nominal grade of 0.0g/t. Composites above cut-off grade, but less than 6.1 meters in length, are not reported. Silver is analyzed via a 4-acid digestion followed by an ICP finish (with a 1.0g/t lower reporting limit). Samples reporting values > 10g/t Ag are reanalyzed using a 50g Fire Assay charge followed by a gravimetric finish. Some intervals may not add or subtract correctly due to rounding, but are deemed insignificant. Analyses are carried out by ALS CHEMEX in their Reno and Winnemucca, Nevada, and Vancouver, British Columbia, laboratories. Umpire samples are routinely submitted to third party labs and blank and standard samples are used for quality assurance and quality control and a review of the results of analyses of the blanks, standards and duplicates by the Company’s Qualified Person indicates values are within normal and acceptable ranges.

About Midas Gold and the Golden Meadows Project

Midas Gold Corp., through its wholly owned subsidiaries Midas Gold, Inc. and Idaho Gold Resources, LLC, is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite‐Yellow Pine district of central Idaho. The principal gold deposits identified to date within the Golden Meadows Project are the Hangar Flats, West End and Yellow Pine deposits, all of which are associated with important structural corridors. Independent mineral resource estimates were reported for all three deposits in a news release dated April 20, 2011 and are detailed in a consolidated technical report entitled “NI 43-101 Technical Report on Mineral Resources, Golden Meadows Project, Valley County, Idaho” dated June 6, 2011 (the “Technical Report”) is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

Hangar Flats is a high-grade gold-silver-antimony-tungsten discovery made in 2009 and these most recent drill intercepts are infill and step-outs to the north from the areas discovered and drilled during the 2009 and 2010 field seasons. Yellow Pine is a significant past producer of gold, silver, antimony and tungsten from the 1930s through the mid-1950s. The Homestake area, located at the northeast end of the Yellow Pine deposit, was operated by Hecla Mining Company from 1987 through 1989. The area between Yellow Pine and Homestake, known as the Clark Tunnel prospect, was the site of early 1930’s and 1940’s era exploration, but no mining has occurred and it has seen only minimal modern exploration drilling. Historical geologic, ground geophysical and drilling data obtained by Midas suggested the possibility that significant mineralization might be present in this area and recent drill results confirm this potential. The West End deposit was the site of open pit mining with heap leach recovery of gold from the 1970s to the late 1990s.

While gold, silver and antimony tend to occur in approximately the same areas, the mineralizing events are distinct and, as a result, the gold-based cut-off used to report results herein do not necessarily best illustrate the silver and, especially, the antimony values. Tungsten values tend to be much more geographically limited and, where they do occur, tend to be diluted down to low values over the long intervals of gold mineralization reported but nevertheless could represent a significant by-product opportunity.

The Hangar Flats, West End and Yellow Pine deposits remain open to expansion along strike and to depth. In addition, Midas Gold continues to review and assess information contained within an extensive exploration database developed by Midas Gold from almost 100 years of exploration activity by multiple owners and operators with the objective of identifying opportunities for the potential discovery of additional gold mineralization.

Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; the timing and costs of future exploration activities on the Corporation’s properties; success of exploration activities; permitting time lines and requirements, requirements for additional capital, requirements for additional water rights and the potential effect of proposed notices of environmental conditions relating to mineral claims; planned exploration and development of properties and the results thereof; planned expenditures and budgets and the execution thereof. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking statements to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In making the forward-looking statements in this news release, the Corporation has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies in 2011 will be consistent with the Corporation’s expectations; that the current exploration and other objectives concerning the Golden Meadows Project can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned exploration on the Golden Meadows Project will be obtained in a timely manner and on acceptable terms; the continuity of the price of gold and other metals, economic and political conditions and operations. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in exploration programs based upon results of exploration; changes in estimated mineral reserves or mineral resources; future prices of metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; environmental risks, including environmental matters under U.S. federal and Idaho rules and regulations; impact of environmental remediation requirements and the terms of existing and potential consent decrees on the Corporation’s planned exploration on the Golden Meadows Project; certainty of mineral title; community relations; delays in obtaining governmental approvals or financing; fluctuations in mineral prices; the Corporation’s dependence on one mineral project; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Corporation’s lack of operating revenues; governmental regulations and the ability to obtain necessary licences and permits; risks related to mineral properties being subject to prior unregistered agreements, transfers or claims and other defects in title; currency fluctuations; changes in environmental laws and regulations and changes in the application of standards pursuant to existing laws and regulations which may increase costs of doing business and restrict operations; risks related to dependence on key personnel; and estimates used in financial statements proving to be incorrect; as well as those factors discussed in the Corporation’s public disclosure record. Although the Corporation has attempted to identify important factors that could affect the Corporation and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information.

Except as required by law, the Corporation does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Table 2: Assay Results to Accompany Midas Gold Corp. News Release dated January 9, 2012

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(1)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-057(2)	Core	Yellow Pine	30.2	130.5	100.3	2.95	2.6	0.07	0.002
And			136.3	253.9	117.7	2.29	1.6	0.17	0.003
MGI-11-061(2)	Core	Yellow Pine	235.9	342.6	106.7	2.70	2.0	0.01	0.001
Including			306.0	329.2	23.2	3.81	2.3	0.00	0.001
MGI-11-098	Core	Yellow Pine - Homestake Area	65.5	100.0	34.4	2.43	2.3	0.00	0.001
MGI-11-103	Core	Hangar Flats	143.3	151.8	8.5	1.49	3.4	0.09	0.003
And			157.9	165.1	7.2	1.82	1.1	0.16	0.003
And			184.3	196.1	11.9	4.84	3.8	0.02	0.002
And			211.8	258.2	46.3	3.17	1.9	0.09	0.018
MGI-11-105	Core	Yellow Pine	221.4	240.8	19.4	1.06	0.6	0.00	0.001
And			281.9	286.5	4.6	0.56	0.2	0.00	0.000
And			313.9	321.6	7.6	0.58	0.8	0.00	0.001
MGI-11-115	Core	Yellow Pine	100.0	126.8	26.8	1.51	2.2	0.00	0.003
MGI-11-116	RC	Yellow Pine - Homestake Area	96.0	134.1	38.1	3.03	10.2	0.43	0.001
Including			103.6	129.5	25.9	3.97	13.4	0.58	0.001
MGI-11-117	RC	Yellow Pine - Homestake Area	7.6	39.6	32.0	3.15	3.4	0.11	0.003
MGI-11-119	Core	Hangar Flats	124.1	157.9	33.8	2.60	3.1	0.05	0.004
MGI-11-128	Core	Yellow Pine - Homestake Area	39.6	54.9	15.2	2.81	1.6	0.00	0.002
And			64.0	96.0	32.0	2.32	1.8	0.00	0.001
MGI-11-130	RC	Flying Dutchman	80.8	85.3	4.6	1.01	2.1	0.01	0.003
MGI-11-132		Yellow Pine - Homestake Area	31.7	36.3	4.6	0.67	1.6	0.00	0.004
And			42.1	51.2	9.1	0.73	0.9	0.00	0.000
And			55.8	61.9	6.1	2.16	1.2	0.00	0.002
MGI-11-135	RC	Yellow Pine - Monday Tunnel	51.8	86.9	35.1	1.85	10.2	0.45	0.003
MGI-11-136	Core	Yellow Pine - Homestake Area	40.5	56.4	15.8	0.84	0.4	0.00	0.002
MGI-11-137	RC	West End	83.8	117.4	33.5	2.74	0.8	0.01	0.001
And			125.0	155.5	30.5	2.02	0.7	0.00	0.002
And			175.3	184.4	9.1	0.90	2.7	0.01	0.002
MGI-11-139	RC	West End	254.5	259.1	4.6	1.50	0.2	0.00	0.002
And			263.7	333.8	70.1	2.19	1.1	0.00	0.002
Including			269.8	324.6	54.9	2.63	1.3	0.00	0.002
And			341.4	349.0	7.6	0.60	0.9	0.00	0.002
MGI-11-140	RC	Yellow Pine - Monday Tunnel	61.0	120.4	59.4	2.80	4.5	0.10	0.003
And			164.6	185.9	21.3	0.69	0.5	0.01	0.002
MGI-11-141	RC	Yellow Pine - Monday Tunnel	132.6	147.8	15.2	1.02	1.2	0.01	0.005
MGI-11-142	RC	West End	50.3	56.4	6.1	1.34	1.6	0.00	0.003
And			65.5	71.6	6.1	2.77	1.1	0.00	0.003
And			103.6	140.2	36.6	0.93	4.4	0.01	0.005
And			153.9	195.1	41.1	1.68	2.8	0.01	0.002
And			210.3	245.4	35.1	0.67	1.4	0.00	0.001
And			254.5	301.8	47.2	0.60	0.6	0.00	0.002
MGI-11-149	RC	West End	0.0	71.6	71.6	4.21	3.0	0.01	0.002
Including			13.7	65.5	51.8	5.37	3.6	0.01	0.003
MGI-11-151-RC	RC	West End	16.8	35.1	18.3	2.08	2.4	0.00	0.006
And			56.4	65.5	9.1	0.77	0.5	0.00	0.002

(1) Based upon the current 3D interpretation of the Hangar Flats, West End and Yellow Pine deposits the intervals quoted here are at or near true thickness and are composited using a 0.5 g/t Au cut-off and may include short intervals of internal waste below the cut-off grade.
(2) Assays for portions of this hole were previously reported.

MIDAS REPORTS SIGNIFICANT GOLD INTERCEPTS AT HANGAR FLATS, GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-10-12 intersected 4.1g/t gold over 36.6m, including 7.4g/t gold over 16.5m

Hole MGI-10-13 intersected 2.6g/t gold over 70.3m plus 2.1g/t gold over 42.7m

Hole MGI-10-26 intercepted 2.4g/t gold over 176.8m plus 1.8g/t gold over 68.6m

Hole MGI-10-27 intercepted 2.5g/t gold over 117.0m

VANCOUVER, BRITISH COLUMBIA - Midas Gold, Inc. (a private company) today announced assay results from its core drilling program on the Hangar Flats deposit at the Company’s Golden Meadows Project, Idaho. A total of twenty-six drill holes were completed at Hangar Flats during the summer and fall of 2010 as part of its resource definition and exploration drill program that was designed to develop a mineral resource estimate to a level suitable for reporting under Canadian National Instrument 43-101 Technical Reporting guidelines, the results of which will be announced during Q1/11. Hangar Flats is a high grade gold-silver-antimony-tungsten discovery made in 2009 by Midas Gold and these most recent drill intercepts are step outs and infill holes from the 2009 discovery holes. Highlights of assays from these recent drill holes are summarized in the table below and the full results for the twenty-six holes released today, as well as results from our eleven-hole 2009 drill program, are provided in the attached table.

Highlights of 2010 Drilling at Hangar Flats

Hole ID	Target Area	From (m)	To (m)	Interval (m)*	Gold (g/t)
MGI-10-12	Hangar Flats	72.2	108.8	36.6	4.08
Including		74.1	90.5	16.5	7.36
MGI-10-13	Hangar Flats	73.2	143.4	70.3	2.60
And		162.5	205.1	42.7	2.06
And		213.4	220.8	7.5	1.27
And		227.1	228.0	0.9	8.66
MGI-10-26	Hangar Flats	10.7	187.5	176.8	2.43
Including		126.5	134.1	7.6	7.09
And		195.1	263.7	68.6	1.82
MGI-10-27	Hangar Flats	26.2	143.3	117.0	2.50
Including		75.6	89.3	13.7	6.23

* Based upon the current 3D interpretation of the Hangar Flats deposit the intervals quoted here are at or near true thickness and are composited using a 0.5 g/t cutoff and may include short intervals of internal waste below the cutoff grade. Reported intervals may not correspond precisely to the ‘From’ and ‘To’ due to rounding.

“Hangar Flats has rapidly advanced from a small historical mineral occurrence, to a major drilled discovery, through an initial round of exploration drilling, and in-filled to standards suitable for formal resource estimation, all in less than two years,” said Stephen Quin, President and CEO of Midas Gold. “With drilling now complete, an updated mineral resource estimate is underway and will be released in the near future. Hangar Flats is one of three significant gold deposits in the Golden Meadows project area, in addition to numerous other gold occurrences similar in scale to Hangar Flats prior to the 2009- 10 drilling, suggesting significant additional gold potential at Golden Meadows.”

These drill results, along with those from previous drilling, indicate that the Hangar Flats deposit comprises a series of stacked ellipsoidal lenses, with best grades and thicknesses near the trace of the Meadow Creek Fault System, a major district-scale ore controlling structure. The thick, higher grade intercepts reported above and in the table attached are from the core of the deposit, while the narrower, lower grade intercepts in the table attached are from the margins of the deposit. A new resource model for Hangar Flats will be completed in Q1/11.

For current drill hole locations, please view the accompanying maps and section.

2010 Exploration Program at Golden Meadows
The drilling at Hangar Flats was undertaken as part of a forty-four hole, 12,893m drill program completed in 2010 by Midas Gold Inc., which program focused on the Hangar Flats and West End areas. All drilling was undertaken with HQ core drilling, with core logged and sawn in half on site, and samples sent offsite for assay.

About the Golden Meadows Project
The Golden Meadows Project encompasses most of the historic Stibnite-Yellow Pine Mining District in South-central Idaho where Midas Gold, Inc. (a private company), owns or controls over 4,000 hectares in the district and recently entered into a letter of intent with Vista Gold Corp. to combine Vista’s Yellow Pine deposit, which Vista has reported as containing significant gold mineral resources in the Golden Meadows project area, with Midas Gold’s interests, in a new company (“Newco”). As a result, Vista will become a 35% shareholder of Newco.

The Stibnite-Yellow Pine district lies at the intersection of major, regional fault systems and lies on the margins of the western ring fractured margin of the Tertiary Thunder Mountain caldera complex. Gold mineralization within the Golden Meadows Project appears to be an intrusion related, gold-rich system overprinted by a younger, epithermal gold system with increased silver and antimony. Historic gold production of approximately one million ounces from the district came primarily from high grade underground gold-antimony production immediately north of Hangar Flats from 1928-38, open pit mining at Yellow Pine from 1938-52, or from heap leaching of oxide gold occurrences, including West End and Homestake, from 1974 to 1997. The deeper sulphide gold potential has seen little attention in modern exploration. The principal gold deposits identified to date within the Golden Meadows Project are Hangar Flats and West End, along with Vista’s Yellow Pine deposits, all associated with significant structural corridors. In addition, numerous other smaller gold occurrences have been identified, some of which have historic gold resource estimates, and which remain to be explored for their deeper sulphide potential.

For further information about Midas Gold, Inc., please contact: Investor Relations at (509) 927-GOLD (4653) or e-mail Midas at info@midasgoldinc.com

Quality Assurance
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President and CEO of Midas Gold, Inc. The exploration activities at the Hangar Flats deposit were carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Project Manager for the Golden Meadows Project.

Gold is analyzed by fire assay fusion with 30g charges with an atomic absorption spectroscopy or gravimetric finish for gold. Analyses are carried out by ALS CHEMEX in their Reno and Winnemucca, Nevada laboratories. Blank and standard samples are used for quality assurance and quality control. After the completion of the drilling programs, random check assays were analyzed at Inspectorate and American Assay Laboratories in Reno, Nevada.

Forward-Looking Statements
This document may contain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”). These forward-looking statements are made as of the date of this document and Midas Gold, Inc. (the “Company”) does not intend, and does not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, statements with respect to the estimation of mineral reserves and mineral resources, the realization of mineral reserve estimates, the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of mineral resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward- looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Cautionary Note - The United States Securities and Exchange Commission (“SEC”) permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Midas Gold uses certain terms such as “measured”, “indicated”, “inferred”, and “mineral resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. However, Midas Gold is not an SEC registered company. This press release is NOT for U.S. distribution and is not a solicitation or a prospectus for stock.

Click here for the full tables and maps.

MIDAS GOLD ANNOUNCES APPOINTMENT OF STEPHEN P. QUIN AS PRESIDENT & CEO

Spokane, Washington - Midas Gold Inc. (a private company) today announced the appointment of Stephen P. Quin, P.Geo., as President and Chief Executive Officer of Midas Gold, effective January 1, 2011.

“Stephen Quin brings a wealth of experience to Midas Gold,” said Frank Duval, retiring President of Midas Gold, Inc. “Mr. Quin’s experience in exploration, feasibility studies, permitting and project finance, as well as mine development and operations, positions Midas Gold to comprehensively and rapidly advance its Golden Meadows project located in the Yellow Pine - Stibnite gold district of Idaho.”

“I am excited to be joining Midas Gold at this critical juncture in its history,” said Stephen Quin, President & CEO of Midas Gold, Inc. “The consolidation of the Yellow Pine - Stibnite district as its Golden Meadows project represents a tremendous opportunity for value creation for the shareholders of Midas Gold, new and old. Not only are there significant gold mineral resources already defined, but there is exceptional exploration potential as a result of the historic fragmented ownership of the district that prevented its efficient and effective exploration. Now that the district is on the verge of being consolidated under one roof for the first time since gold was first discovered in the early 1900’s, exploration can proceed unconstrained by artificial property boundaries. Further, the significant sulphide potential below the traditional oxide gold targets represents a vast, largely untested, gold target. Continuing on the heels of two highly successful drilling programs in 2009 and 2010, we are currently planning our 2011 campaign, which will further evaluate the potential of the Golden Meadows project,” stated Mr. Quin. “At this transition point for the Company, I would like to also acknowledge the considerable effort put forward by Frank Duval and his team over the preceding years to effect the successful consolidation of the district, the compilation of many years of historic mining and exploration data, and two years of exploration that have considerably expanded the gold potential in the district.”

Biography for Stephen Quin
Prior to joining Midas Gold, Mr. Quin was President of Capstone Mining Corp., an intermediate copper producer with mines in Canada and Mexico.

In 2005, Mr. Quin co-founded Sherwood Copper Corporation and was appointed President & CEO. Under his leadership, Sherwood acquired the Minto exploration project and advanced it through feasibility and into production in 2007, on time and on budget, and subsequently doubled mill capacity and mineral resources. In early 2008, Mr. Quin led the acquisition of the high grade Kutcho copper-zinc deposit for Sherwood, currently the subject of an on-going prefeasibility study. In late 2008, Mr. Quin steered Sherwood through the combination with Capstone Mining, owner and operator of the Cozamin mine in Mexico. On completion of the merger, Mr. Quin assumed the role of President & COO of Capstone, which now has a market capitalization of approximately C$900 million.

From 1987 to 2005, Mr. Quin was a senior executive with Miramar Mining Corporation, where he co- led the acquisition and directed the exploration of the Con Mine and, subsequently, the Hope Bay project in Canada; Hope Bay became one of the largest high grade gold deposits in Canada. Miramar was acquired for approximately $1.3 billion by Newmont Canada in 2007. From 1994 to 2000, Mr. Quin was a senior executive with Northern Orion Exploration Ltd., an affiliate of Miramar, where he led the acquisition and subsequent exploration of the Agua Rica copper-gold-molybdenum porphyry in Argentina in a joint venture with BHP, as well as the San Jorge copper-gold project in Argentina.

Mr. Quin graduated with a B.Sc. (Honours) in Mining Geology from the Royal School of Mines, London, England in 1980. He is a Professional Geoscientist registered with the Association of Professional Engineers and Geoscientists of British Columbia, a Fellow with the Geologic Association of Canada and Society of Economic Geologists, a Member of the Canadian Institute of Mining & Metallurgy and the Institute of Materials, Minerals and Mining (UK). Mr. Quin also serves on the board of a number of publicly listed mining companies and industry associations.

About Midas Gold
Midas Gold is a private company that controls the majority of the Yellow Pine - Stibnite district in Idaho, a district that encompasses a number of historic past producing mines, as well as significant mineral resources. Additional details regarding Midas Gold’s mineral resources at Golden Meadows will be announced shortly. On December 7, 2010, Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) announced that it had entered into a letter of intent to combine Vista’s Yellow Pine deposit, which Vista has reported as containing significant gold mineral resources in the Golden Meadows project area, with Midas Gold’s interests, in a new company (“Newco”). As a result, Vista will become a 35% shareholder of Newco. Mr. Quin will continue as President & CEO of Newco when this combination is completed.

Additional information on Midas Gold, Newco and its Golden Meadows project will be released over the coming months.

Forward Looking Information
This new release contains forward-looking statements within the meaning thereof under the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning thereof under Canadian securities laws. All statements, other than statements of historical facts, included in this news release that address activities, events or developments that Midas Gold expects or anticipates will or may occur in the future, including such things as, estimates of mineral resources, the conversion of inferred mineral resources to measured and indicated resources, the conversion of mineral resources to mineral reserves, the potential to expand the resource base at the Golden Meadows project, the timing for completion and expected results of NI43-101 resource estimates by Midas Gold relating to its properties within the Golden Meadows project, potential gold resources at Vista’s Yellow Pine gold project, the entering into a definitive agreement with Midas Gold, the timing for the completion of the definitive agreement and completion of the proposed transaction between Midas Gold and Vista, and other such matters are forward-looking statements and forward-looking information. When used in this press release, the words “optimistic”, “potential”, “indicate”, “expect”, “intend”, “hopes”, “believe”, “may”, “will”, “could”, “if”, “anticipate,” “when”, and similar expressions are intended to identify forward-looking statements and forward-looking information. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Midas Gold to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, negotiating a satisfactory definitive agreement and other related documentation, timing for completing the definitive agreement, the combination and transactions contemplated thereunder, obtaining board and regulatory approvals; tax consequences of the proposed combination; the ability to integrate the operations of Newco; uncertainty of mineral resource estimates; estimates of results based on such mineral resource estimates; risks relating to cost increases for capital and operating costs; risks relating to delays in the completion of future drilling programs; risks related to the adequacy of the design of such drilling programs, risks related to the ability to obtain the necessary permits; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; potential effects on Midas Gold’ operations of environmental regulations in the areas in which it operates; and risks due to legal proceedings. Although Midas Gold has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements and forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Except as required by law, Midas Gold assumes no obligation to update any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.

Quality Assurance & Regulatory Compliance
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by Stephen P. Quin, P. Geo., President & CEO of Midas Gold Inc.

Some of the mineral resources at Golden Meadows are categorized as indicated and some as inferred mineral resources. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral resource estimates do not account for mineability, selectivity, mining loss and dilution. These mineral resource estimates include inferred mineral resources that are normally considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is also no certainty that these inferred mineral resources will be converted to measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

Cautionary Note - The United States Securities and Exchange Commission (“SEC”) permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. Midas Gold uses certain terms such as “measured”, “indicated”, “inferred”, and “mineral resources,” which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. However, Midas Gold is not an SEC registered company.