MIDAS GOLD PROGRESSES METALLURGICAL TESTING ON GOLDEN MEADOWS PROJECT, IDAHO

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced an interim update from metallurgical testing on samples from its Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. These results, which include tests on a variety of mineralized samples from each of the three mineral deposits comprising the Golden Meadows Project, confirm that conventional, low-risk metallurgical approaches achieve excellent results.

“We are encouraged by the results from our metallurgical testing to date, which confirm that conventional, low risk approaches used during past operations and tested by prior operators can achieve excellent results,” said Stephen Quin, President and CEO of Midas Gold Corp. “These tests demonstrate moderate ore hardness, excellent liberation and separation of gold-rich and antimony-rich sulphides at reasonable grind sizes, as well as good recoveries into good quality flotation concentrates that comprise a small mass pull relative to the overall mill feed. These results indicate that overall metallurgical performance for Golden Meadows material should be very positive.” Metallurgical testing is continuing and the current and final test results will be used to determine those to be used in the preliminary economic assessment scheduled for completion in Q3/12.

Metallurgical Test Program

Over the past several months, Midas Gold has been conducting a systematic metallurgical test program at SGS in Lakefield and Vancouver, as well as other laboratories, under the supervision of Blue Coast Metallurgy Ltd., in order to evaluate options for, and optimize the recovery of, gold (“Au”), antimony (“Sb”) and other potential by-products. This test program involved the collection of representative samples from each of the three deposits that make up the Golden Meadows Project (Hangar Flats, West End and Yellow Pine), as well as a composite representing a blend of all three deposits.

For the Sb-rich samples (from Hangar Flats and parts of Yellow Pine), this test work has evaluated two principal approaches to flotation: firstly, a variant of that traditionally used during operations on site in the 1920s through 1950s, where ore was subjected to sequential flotation of Sb-rich concentrates and then Au-rich concentrates and, secondly, an alternative approach utilizing bulk flotation of all sulphide minerals (including both antimony and gold containing sulphides) and then, subsequently, using flotation to extract an Sb-rich concentrate from the bulk concentrate. Both approaches have provided positive results. The sequential flotation approach has the benefit of extensive on-site operating experience and its development is the most advanced at this time, but was primarily designed to ensure optimal antimony recovery and concentrate quality. The bulk flotation route offers the potential for higher overall gold recoveries. At this time, the bulk flotation route has less extensive testing, but work is continuing to advance this option as it shows considerable promise.

For the essentially Sb-free samples (West End and the remainder of Yellow Pine), a bulk gold flotation process has been developed and is now well proven.

In addition, Midas Gold has commenced the process of evaluating options for handling of each of the Au-rich and Sb-rich concentrates, including both on-site and off-site processing for each concentrate. Regardless of the option chosen, gold concentrates will require oxidation before gold extraction, and Midas Gold is focussing its test work on the pressure oxidation of the gold concentrates, which could be conducted at a company-owned facility on or off site, or at a third party facility off-site. It is important to note that the low overall sulphide content of the deposits and that all of the gold is tied up with those sulphides (except for the minor amount of oxide material) means that only a relatively small portion of the proposed mill feed would be subject to pressure oxidation, reducing capital and operating costs relative to whole ore pressure oxidation. Further, the high ratio of gold to sulphur in the concentrates produced and ease with which the concentrate can be processed through pressure oxidation, indicates that the process promises to be relatively cost-effective. The antimony concentrates produced in the testing undertaken have assayed up to 62% Sb and are expected to be directly saleable to third parties. Options for handling of antimony concentrates being considered include off-site processing, focused on sales to third party smelters, and the possibility for on- or off-site processing to convert the antimony bearing mineral in those concentrates, stibnite, into end-products for market consumption, such as antimony trioxide (flame retardant) or antimony metal (for alloys in batteries and the like). Test work on the latter process is in its early stages.

Thirdly, Midas Gold has embarked on a test program to evaluate gold recoveries from oxide materials using tank leaching (CIL or CIP), particularly those at the West End deposit, which could provide opportunities for an earlier start to production as compared to waiting for completion of the full sulphide and potential pressure oxidation circuit on site. Results are promising, with up to 85% gold extraction and potentially favourable processing economics (low reagent consumptions) achieved from true oxide samples.

Hardness testing

Extensive SAG, rod and ball mill amenability testing has been conducted on multiple samples of material from each of the three deposits. Results indicate the mineralized materials are of medium hardness, with ball mill work indexes in the range of 11.9 to 14.2 kWt/tonne for the three deposits. The West End mineralized materials tending to have a somewhat higher SAG mill index than Hangar Flats and Yellow Pine; however, current thinking is that the optimal circuit will use a rod mill and ball mill combination, as opposed to SAG mill and ball mill, providing greater operating flexibility and more uniform feed to a pressure oxidation circuit.

Sulphide liberation

Mineralogical studies have shown that, while some finer interlocking sometimes occurs between the antimony and gold-bearing minerals, the sulphide minerals are liberated from the gangue at a coarse size. This result points to the potential for a coarser primary grind under the bulk flotation scenario than currently adopted in the test programs, followed by regrinding of the bulk concentrates to achieve the desired selectivity between antimony- and gold-bearing minerals. As the flotation results discussed herein indicate, good separation of Au and Sb-rich sulphides has been achieved.

Sequential Flotation Test Work on Sb-rich samples

Based on testing completed to date on sulphide composites from all three deposits individually, as well as a composite of material from all three deposits, flotation recoveries of antimony from Golden Meadows’ antimony-bearing materials of 60% to 80% have been achieved with, typically, less than 1% gold losses into the antimony concentrate. Typical commercial antimony concentrate grades of 50-62% Sb have repeatedly been produced at these recoveries. Subsequent gold recovery into concentrates in the range of 81% to 93% gold have been successfully achieved, with little antimony reporting to the gold concentrate, confirming historic experience that the antimony and gold can be separated into two separate concentrates. The lower gold recoveries noted above are from samples of West End material with varying degrees of oxidation, which represent a minor component of the overall mineral resource at Golden Meadows, while recoveries from fresh sulphide material from West End tend to be in the range of 87-93%. Concentrate mass pulls associated with these recoveries in the sequential flotation test work are expected to be in the range of 9% to 11%.

The bulk flotation and subsequent antimony concentrate separation route, while showing promise to exceed these recoveries (with a somewhat higher overall mass pull), is still under development, and additional testing is on-going.

Flotation Test Work on Au-only samples

Extensive (including larger scale) bulk sulphide flotation testing has been conducted on Au-only materials from West End and Yellow Pine. These have yielded good gold recoveries, averaging 93% at Yellow Pine and 83% at West End, recoveries from the latter being lower due to the inclusion of poorer floating (but leachable) oxide component in the West End composite (see above). Test work to date on West End samples, excluding the oxides, have yielded recoveries averaging 91%.

Pressure Oxidation Test Work

A program of bench scale pressure oxidation test work on gold concentrates is being undertaken during the month of April, but no results are currently available from this latest test program. Early results from test work leading up to this program, prior test work by other parties, and the nature of the mineralogy of the sulphides, suggests high recoveries are achievable, with a good quality residue.

Continuing Work

As noted earlier, this is an interim update on metallurgical test work completed to date and additional testing is continuing in order to further optimize metallurgical performance which, combined with the results reported herein, will determine the final results to be included in the preliminary economic assessment scheduled for completion in Q2/12. Further metallurgical test work will continue after the cut-off date for the PEA, the additional data from which will be used in the preliminary feasibility study scheduled for completion in 2013.

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 metallurgical test work on the Golden Meadows samples was carried out under the supervision of Christopher Martin, C.Eng., an independent Qualified Person and principal consultant for Blue Coast Metallurgy for test work on 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.

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; projected recoveries from flotation and pressure oxidation test work; results of future metallurgical test work; ability to sell concentrates to third parties at attractive prices, were that option selected; potential performance of secondary processing on site or off-site off concentrates and the ability to permit such; 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 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 GOLD REPORTS DISCOVERY OF HIGH GRADE GOLD MINERALIZATION IN FOLLOW-UP TO 2011 AIRBORNE EM SURVEY AT ITS GOLDEN MEADOWS PROJECT, IDAHO

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced results from reconnaissance sampling and follow-up evaluation of one of the larger geophysical anomalies outlined by its 2011 DIGHEM airborne electromagnetic (“AEM”) survey, with rock samples returning values up to 39g/t gold in outcrop. In addition, soil sampling on the Rabbit prospect and rock sampling on the northern end of the West End deposit have outlined significant gold anomalies that warrant further evaluation. This work was conducted as part of Midas Gold’s ongoing exploration program on its 11,600 hectare Golden Meadows Project in Valley County, Idaho.

“Midas Gold is encouraged to encounter significant, high grade gold mineralization in outcrop coincident with one of the larger of its newly identified geophysical anomalies at its Golden Meadows Project in Idaho,” said Stephen Quin, President & CEO of Midas Gold Corp. “These results indicate potential for a significant new gold system in this area, warranting systematic exploration to evaluate this anomaly, which extends for 4km along strike and is 400-500m wide,” he said. “In addition, the results from the Rabbit and West End extension confirm the potential of these areas to be related to significant gold mineralizing systems.”

Airborne Geophysics

As announced September 28, 2011, Midas Gold conducted an airborne electromagnetic survey over its Golden Meadows Project during the summer of 2011. As a result of the trends and anomalies identified in the survey, Midas Gold staked an additional 900 unpatented federal lode mining claims encompassing approximately 7,284 hectares, more than doubling the size of the land package at Golden Meadows to 11,600 hectares. The survey not only reported anomalies at two of the three main resources, as well as possible extensions thereto, but also outlined significant anomalies coincident with areas of known surface gold mineralization, demonstrating the survey technique’s capability in defining mineralized systems. The survey also identified several extensive anomalies outside of Midas Gold’s prior property boundary, supporting the additional staking. Click here for maps locating these anomalies relative to the known mineral resources and previously defined exploration targets.

Follow-up Exploration Results - Mule Prospect

Initial follow-up on the 2011 Airborne EM surveys has generated some encouraging results. A multi-kilometre long, 400-500m wide, north-south trending conductive zone and magnetic linear was identified in the southeast portion of the recently expanded Golden Meadows property. This trend was investigated near the site of 1920’s era placer prospecting and 1980’s era trenching that cut high grade (greater than 30 g/t Au) quartz-sulphide veins. A reconnaissance traverse along the southern 1.5km trace of this geophysical feature identified a broad zone of intensely altered granite cut by numerous quartz-sulphide veins. Seven of the eight 2011 samples collected from old placer cuts, bedrock trenches, outcrops and spoil piles within this area contained anomalous gold, with four samples reporting greater than 1.0 g/t gold, including two samples reporting greater than 30 g/t gold. These samples may not be representative of the entire geophysical feature, but suggest the possibility of a large mineralizing system associated with the nearby Tertiary caldera margin. Outcrop is poor in the area of this anomaly, but some historic roads in the area could provide access for geophysical surveys and possible future drilling. Follow up work is planned for 2012. This large target area has been designated “Mule” after a prominent topographic feature in the area.

Follow-up Exploration Results - Rabbit Prospect

Results from a soil grid covering an area approximately 0.6km x 1.1km at the Rabbit prospect have been received, outlining two gold-in-soil anomalies greater than 50 parts per billion (“ppb”) gold with a central area comprised of multiple samples reporting greater than 100ppb gold. The soil grid, completed in late summer 2011, consists of 300 samples on 25 meter centers on lines spaced approximately 100m apart. The grid is centered on a large, diffuse, 300m x 400m rock chip anomaly generated during 2009 and 2010 reconnaissance work.

The western soil and rock chip anomaly, which covers an area approximately 200m wide and 400m long, is centered on a 1920’s Thunder Mountain Gold Rush era adit and is where old 1970’s era trenches cut into an intensely quartz veined, altered and sulphide-bearing quartz intrusives. Alteration consists of sulphide replacements of biotite, argillic alteration of feldspars and vuggy quartz veins, including widespread cockscomb quartz and banded quartz adularia veins with facture-fill textures indicative of epithermal mineralization. The historic trenches, sampled by previous operators, returned 3.04 meters averaging 1.85g/t Au and 6.1 metres averaging 1.06g/t Au. In 2010, Midas collected over 132 rock chip samples in this area, delineating a 250m x 300m northeast-trending area of anomalous rock chip geochemistry with over 30 samples returning greater than 1g/t gold in outcrop, with a high of 13g/t gold. A large ovoid electromagnetic anomaly is associated with the geochemical anomaly. This anomaly, designated the “West Rabbit” Anomaly, has never been drilled and is in the process of being permitted for 2012 summer drilling.

The eastern anomaly is along strike from the past producing Garnet Pit, which had reported production of approximately 40,000 ounces of gold averaging 8-10 g/t gold and appears to be along strike of the mapped trace of the Fern Marble (which hosts the Garnet deposit). Initial reconnaissance rock sampling of float and outcrop in 2009, and follow-up work in 2010, defined a large area of intense alteration comprised of pervasive vuggy silica, jasperoids and epithermal veining within mapped carbonate rocks. The soil and rock chip anomaly has a strong northwest-southeast trend, parallel to the carbonate stratigraphy underlying the area. The new soil anomaly is approximately 150m wide and 450m long, and is open along strike in both directions. This anomaly has been designated the “East Rabbit” anomaly, and is in the process of being permitted for 2012 summer drilling.

Follow-up Exploration Results - West End Extension

Exploration along the northwestern periphery of the West End deposit, host to a NI43-101 compliant indicated and inferred mineral resource (see news release dated February 22, 2011), has returned encouraging results from mapping and rock chip sampling. Twenty rock chip samples were collected during the summer of 2011 to follow up and confirm old 1970’s era road cut sampling and 2010 reconnaissance sampling work in the area. A large road cut along the trace of West End Creek (now covered by mine waste dumps) slightly northwest of the NE Extension Pit, had been sampled in the 1970’s by Superior Oil. This sampling outlined a broad (>100m wide), diffuse, apparently east-west trending zone of mineralization averaging approximately 1 g/t Au in the foot wall of the reported bounding fault to West End deposit. This area was never drilled as it was situated along a former property boundary, which inhibited follow up exploration due to the property situation.

In 2010, Midas Gold drilled a single hole 200m southeast of the Superior Oil anomaly, into the foot wall of the reported bounding fault. This hole cut significant mineralization (hole MGI-10-42, which returned 62m averaging 1.51 g/t Au), suggesting the West End mineralization extends west of the past producing pit, along the old property boundary. The 2010 reconnaissance work and 2011 rock sampling was designed to confirm the 1970’s rock chip anomaly, and further refine Midas Gold’s understanding of the style and extent of mineralization in the foot wall of the main West End deposit faults. All twenty samples collected in 2011, over a 200m x 400m area, returned anomalous gold, with multiple samples returning greater than 1.0 g/t gold from strongly altered sediments comprised of silicified and vuggy jasperoidal carbonates and epithermal veins and breccias. Many of these mineralized rocks exhibited east-west trending fabrics, suggesting a bend in the structural grain in this area as compared to the northeast trending West End deposit. The primary anomaly is a greater than 1 g/t gold anomaly approximately 150m wide 250m in strike length, and is open to the west. This anomaly’ designated the “Exit” anomaly, has never been drilled and is currently being permitted for 2012 summer drilling.

Illustrations

To view the locations of these exploration targets, 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 Project Manager for the Golden Meadows Project.

For Rock samples, 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).

Soil samples were sieved to -80 mesh, and had an ICP-MS multi-element analysis instead of the ICP-AES analysis carried out on rock samples. Gold assays were carried out as with rock samples, above.

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 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&#8208;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 <emM”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 REPORTS DISCOVERY OF NEW MINERALIZED ZONES AT ITS GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-11-99 intersects 46.3m of 1.3 g/t Au, 12 g/t Ag & 0.65% Sb, including 10.7m of 2.4 g/t Au, 31 g/t Ag, & 1.24% Sb Hole MGI-11-108 intersects 71.6m of 2.2 g/t Au, including 41.1m of 3.1 g/t Au

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced assay results from two newly discovered mineralized zones, along with additional assays from its ongoing exploration and development core and reverse circulation (“RC”) drilling program on the Hangar Flats and Yellow Pine deposits at its Golden Meadows Project, Idaho. Assays are available for the first 61 of 103 holes (totaling approximately 21,430 metres) completed so far this season. Previous 2011 assay results were reported in news releases on August 18, September 28, October 3, and November 1, 2011. Newly received results are summarized in Table 1, below, and highlights include two new zones of mineralization discovered adjacent to historic property boundaries, one at Hangar Flats and the other at Yellow Pine. These results highlight the opportunities resulting from Midas Gold’s consolidation of the long-fragmented land ownership in this prolific gold district. 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 (%)
MGI-11-061(2)	Core	Yellow Pine	62.8	135.6	72.8	1.50	1.3	0.00
And			140.2	167.6	27.4	3.14	1.2	0.02
And			194.3	222.8	28.5	2.71	1.5	0.01
And			235.9	304.8	68.9	2.58	2.1	0.01
MGI-11-83	RC	Yellow Pine	6.1	48.8	42.7	2.56	0.6	0.00
including			9.1	21.3	12.2	5.92	0.8	0.01
MGI-11-93	RC	Yellow Pine	64.0	73.2	9.1	1.09	4.0	0.00
And			88.4	109.7	21.3	3.43	0.9	0.00
MGI-11-099 (3)	Core	Hangar Flats	459.3	505.7	46.3	1.29	11.7	0.65
including			487.4	498.0	10.7	2.35	31.0	1.24
MGI-11-108	RC	Yellow Pine	6.1	24.4	18.3	2.11	0.9	0.01
And			32.0	45.7	13.7	0.99	0.0	0.01
And			70.1	74.7	4.6	1.18	0.6	0.00
And			80.8	152.4	71.6	2.20	2.2	0.00
Including			99.1	140.2	41.1	3.14	2.9	0.01

(1) Based upon the current 3D interpretation of the Hangar Flats 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.
(3) Hole MGI-11-099 was drilled as a geotechnical hole west of the Meadow Creek Fault at Hangar Flats, a previously untested area

“The new mineralized zones intersected in hole MGI-11-99 at Hangar Flats and in MGI-11-108 at Yellow Pine illustrate the potential for new discoveries evolving from our continued data compilation and current drilling program on our Golden Meadows Project in Idaho,” said Stephen Quin, President and CEO of Midas Gold Corp. “Our ongoing exploration is providing new insights into this old district that may lead to more discoveries and the results from MGI-11-99, which was drilled in the essentially untested area west of the Meadow Creek Fault in the Hangar Flats area, and MGI-11-108, drilled in the poorly tested area east of the Meadow Creek fault in the Yellow Pine area, suggest this large structural feature holds a few more surprises,” he said.

2011 Exploration Program

This drilling is being undertaken as part of an exploration program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. Four core rigs, one sonic rig and two reverse circulation rigs are currently on site and plans are underway to continue the drilling program through the winter, based on continued success and subject to obtaining all the necessary permits. Since acquiring the property in the spring of 2009, Midas Gold has completed over 158 core and reverse circulation drill holes totalling approximately 34,300 metres.

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.

Recent Drill Results

A total of 17 holes have been completed in the main open pit area of the Yellow Pine Deposit so far this season. Drill holes 11-61, 11-63 and 11-63, and 11-83, an RC hole, reported herein, were drilled within and beneath the known mineral resource at Yellow Pine in order to upgrade the confidence level of those mineral resources, to test mineralization at depth and to provide metallurgical samples. Results from these drill holes in this area 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 resource estimates as illustrated by hole 11-63, which cut over 100 metres of strong mineralization outside of the modeled pit boundary.

Twelve holes have been completed in the Hangar Flats deposit so far this season. Holes reported herein, 11-80 and 11-99, were drilled for confirmation and mineral resource development and geotechnical purposes, respectively. Hole 11-80 was designed to expand and further upgrade the existing mineral resource and it bottomed in mineralization after the hole was lost due to caving from old workings. Hole MGI-11-99 was drilled to the west, through the foot wall of the Meadow Creek fault, and cut a previously unrecognized, strongly mineralized zone at depth. The drill intercept in this hole lies directly underneath a 1974 El Paso Oil and Gas induced polarization (IP) anomaly that was unsuccessfully tested with a vertical, shallow (< 15m) drill hole in 1975 that did not drill deep enough to penetrate the IP anomaly that is likely associated with the strong mineralization cut in hole 11-99. The spatial extent and geometry of this zone has not been determined so the thickness reported may not be representative of the zones true thickness. This intercept is noteworthy, since it represents the first indications that significant mineralization could lie west of the Meadow Creek fault, that was previously assumed to limit mineralization and opens up an important new exploration opportunity within the previously modelled pit shell, suggesting potential to add mineral resources and reduce strip ratios.

A total of 53 holes have been completed so far this season in the Clark Tunnel-Homestake area of the Yellow Pine Deposit. Holes reported herein including 11-93, 11-108, 11-109 and 11-111 through 11-114 confirm the Homestake model. In addition, holes 11-111 and 11-108 cut significant thicknesses of mineralization outside of the current limits of the pit used to limit Midas Gold’s mineral resource estimates, suggesting room for expansion in this poorly explored and drilled portion of the mineralized system. Hole 11-108 is particularly significant, as the intercept lies east of the Meadow Creek fault, in an area that has previously seen very little drilling and offers potential for the discovery of additional mineral resources in this area. A series of holes to the northeast of the previously mined pit show strong alteration, but lack significant thicknesses of gold mineralization and the main mineralized trend may be offset by post-mineral faulting or pinch out in this direction and further drilling will be directed to this area to determine if the system persists.

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 hole, 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&#8208;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 company has completed over 158 core and RC holes totalling over 34,300 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 in process to begin the evaluation of 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 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: Recent Assay Results from Golden Meadows Project

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(1)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-61(2)	Core	Yellow Pine	62.8	135.6	72.8	1.50	1.3	0.00	0.004
And			140.2	167.6	27.4	3.14	1.2	0.02	0.002
And			194.3	222.8	28.5	2.71	1.5	0.01	0.004
And			235.9	304.8	68.9	2.58	2.1	0.01	0.002
MGI-11-63(2)	Core	Yellow Pine	72.1	77.7	5.6	1.63	0.6	0.00	0.011
And			112.8	208.8	96.0	1.59	0.8	0.01	0.003
And			214.6	234.4	19.8	2.21	0.6	0.00	0.001
And			241.7	250.9	9.1	1.27	0.3	0.00	0.000
And			257.0	270.7	13.7	1.00	0.5	0.00	0.001
And			275.2	326.4	51.2	0.86	1.1	0.00	0.001
And			342.9	369.7	26.8	1.24	2.5	0.01	0.001
MGI-11-80 (2)	Core	Hangar Flats	6.1	39.6	33.5	0.99	0.8	0.01	0.006
And			51.2	77.0	25.8	1.77	1.0	0.01	0.005
And			84.9	100.3	15.4	2.09	1.5	0.01	0.077
And			188.7	199.2	10.5	2.51	4.4	0.01	0.003
MGI-11-83	RC	Yellow Pine	6.1	48.8	42.7	2.56	0.6	0.00	0.004
including			9.1	21.3	12.2	5.92	0.8	0.01	0.004
MGI-11-93	RC	Yellow Pine	64.0	73.2	9.1	1.09	4.0	0.00	0.005
And			88.4	109.7	21.3	3.43	0.9	0.00	0.003
MGI-11-94	Core	Yellow Pine	109.0	133.8	24.8	1.40	0.7	0.00	0.002
And			143.0	160.3	17.4	1.06	0.5	0.00	0.001
And			182.9	190.5	7.6	1.10	1.3	0.00	0.001
MGI-11-096	RC	Yellow Pine	0.0	10.7	10.7	0.56	0.3	0.01	0.003
MGI-11-099	Core	Hangar Flats	459.3	505.7	46.3	1.29	11.7	0.65	0.005
including			487.4	498.0	10.7	2.35	31.0	1.24	0.002
MG-11-100	RC	Yellow Pine	27.4	33.5	6.1	2.41	0.5	0.01	0.020
MGI-11-101	RC	Yellow Pine	0.0	15.2	15.2	1.57	1.3	0.04	0.013
MGI-11-102	RC	Yellow Pine	3.1	13.7	10.7	0.43	0.4	0.01	0.003
MGI-11-106	RC	Yellow Pine	0.0	19.8	19.8	0.75	0.8	0.01	0.022
MGI-11-107	RC	Yellow Pine	0.0	13.7	13.7	0.93	0.5	0.02	0.005
MGI-11-108	RC	Yellow Pine	6.1	24.4	18.3	2.11	0.9	0.01	0.010
And			32.0	45.7	13.7	0.99	0.0	0.01	0.004
And			70.1	74.7	4.6	1.18	0.6	0.00	0.004
And			80.8	152.4	71.6	2.20	2.2	0.00	0.003
Including			99.1	140.2	41.1	3.14	2.9	0.01	0.003
MGI-11-109	RC	Yellow Pine	6.1	30.5	24.4	1.20	0.5	0.01	0.005
And			35.1	47.2	12.2	1.34	0.2	0.00	0.002
MGI-11-111	RC	Yellow Pine	18.3	24.4	6.1	3.99	0.7	0.01	0.061
Including			19.8	24.4	4.6	4.77	0.9	0.01	0.080
And			115.8	129.5	13.7	1.48	1.0	0.00	0.001
And			138.7	149.4	10.7	0.52	0.8	0.00	0.002
And			153.9	167.6	13.7	0.64	1.5	0.00	0.001
MGI-11-112	RC	Yellow Pine	33.5	45.7	12.2	1.73	0.9	0.00	0.003
MGI-11-113	RC	Yellow Pine	6.1	13.7	7.6	0.89	3.1	0.01	0.006
And	RC	Yellow Pine	19.8	38.1	18.3	1.13	0.8	0.00	0.003
And	RC	Yellow Pine	44.2	59.4	15.2	2.23	1.0	0.00	0.002
MGI-11-114	RC	Yellow Pine	24.4	44.2	19.8	0.95	1.1	0.00	0.002
And			48.8	57.9	9.1	0.96	0.8	0.00	0.006
MGI-11-126	RC	Yellow Pine	6.1	15.2	9.1	0.46	3.3	0.07	0.000
MGI-11-127	RC	Yellow Pine	12.2	19.8	7.6	1.1	6.1	0.13	0.001

(1) Based upon the current 3D interpretation of the Hangar Flats 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 GOLD MAKES SENIOR TECHNICAL APPOINTMENTS FOR ITS GOLDEN MEADOWS PROJECT, IDAHO

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced that it has made a number of senior technical appointments to support its current and planned work program at its Golden Meadows Project in Idaho.

“The appointment of three very experienced and highly qualified senior technical personnel to the Golden Meadows Project team strengthens Midas Gold’s ability to continue to advance its evaluation of this significant gold-silver-antimony deposit,” said Stephen Quin, President and CEO of Midas Gold. “Midas Gold’s capability to attract such senior personnel in a highly competitive market is a reflection of the quality of the Golden Meadows Project,” he said. “With seven drills on site – four core, two reverse circulation and one sonic rig - we are and plan to continue to systematically conduct infill, step-out and exploration drilling across our expanded Golden Meadows Project while, in parallel, advancing updated mineral resource estimates and completion of an independent preliminary economic assessment on the project.”

Technical Appointments

Midas Gold has added three senior, experienced technical personnel to its Golden Meadows Project staff.

John Meyer, P.Eng., has been appointed as Development Manager for the Golden Meadows Project, effective the start of 2012. Mr. Meyer was most recently the Project Manager for Kinross Gold’s Fruta del Norte (FDN) gold project in Ecuador, where he managed the design and development of this high-grade refractory gold project. His responsibilities with FDN included management of the preliminary and final feasibility studies, drilling activities and site construction. Prior to Kinross Gold’s acquisition of Aurelian Resources, Mr. Meyer was Director of Technical Services with Aurelian Resources, where he managed preparation of the FDN scoping study. Prior to Aurelian, Mr. Meyer held a corporate position as Manager of Geotechnical Engineering with Barrick Gold and, also with Barrick, Engineering Manager for aspects of the Pascua Lama project in Chile/Argentina. Prior to his role with Barrick, Mr. Meyer was an engineering design consultant and involved in projects for Syncrude Canada, Diavik Diamond Mines, Cominco Metals, Suncor Energy and Placer Dome Canada, among others.

Richard Moses, Professional Geologist, has been appointed Field Operations Manager for the Golden Meadow Project. Mr. Moses has extensive cold-weather drill definition experience, most recently as site manager for International Tower Hill’s Livengood project, where he managed nine drills conducting mineral resource and hydrologic drilling. Prior to that, Mr. Moses was Exploration Manager for Altynalmas Gold’s Bakyrchik gold project in Kazakhstan, where he supervised a 40,000m drill program designed to convert mineral resources to NI43-101 compliant estimates. Prior to Bakyrchik, Mr. Moses spent three years as site manager and geologist at Northern Dynasty’s Pebble copper-gold project in Alaska, where he was involved in the discovery and definition of the Pebble East deposit, and spent four years with Placer Dome as project manager and geologist drilling off the Donlin Creek gold project in Alaska.

Midas has also retained Don Weaver as drilling program supervisor, to assist with managing the drilling program and oversee the logging of core and rock chips at Midas Gold’s expanded facilities in Lake Fork, Idaho. Mr. Weaver was previously responsible for exploration and definition drilling at Sumitomo’s Pogo gold mine in Alaska, including drill oversight, core logging and QA/QC and prior to that, was underground mine geologist for Teck at Pogo. Previously, Mr. Weaver worked on gold projects in the US owned by Anglo Gold, Kinross and Independence Mining, among others.

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&#8208; 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. 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 REPORTS ADDITIONAL DRILL RESULTS FROM ITS 2011 PROGRAM AT ITS GOLDEN MEADOWS PROJECT, IDAHO

- Including Hole MGI-11-59 which intersected 242m @ 2.2 g/t Au -

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results from its ongoing core and reverse circulation (“RC”) drilling program on the Hangar Flats and Yellow Pine deposits at the Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. Assays are available for the first 35 holes out of the 80 holes completed to date. Highlights of previous 2011 assay results were reported in news releases on August 18, September 28 and October 3, 2011. Newly received results are summarized in Table 1 below, with more detailed results in Table 2 at the end of this release. Additional results from the ongoing program will be released when assays are received and validated.

Table 1: Highlights of Recent Assay Results from Golden Meadows

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m) (1)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-59	Core	Yellow Pine	57.3	73.2	15.8	2.95	16.6	0.43	0.002
And			80.5	322.5	242.0	2.21	1.3	0.02	0.007
Including			160.2	225.6	65.5	3.72	1.0	0.00	0.004
MGI-11-62(2)	Core	Yellow Pine	41.8	107.6	65.8	2.57	2.4	0.01	0.002
Including			43.3	93.7	50.4	2.97	2.8	0.02	0.002
AND			112.5	248.1	135.6	2.30	1.2	0.00	0.002
MGI-11-63	Core	Yellow Pine	112.8	208.8	96.0	1.59	0.8	0.01	0.003
MGI-11-71	Core	Yellow Pine	135.9	159.7	23.8	3.90	2.9	0.04	0.001
MGI-11-78	Core	Hangar Flats	55.5	95.7	40.2	2.69	11.4	0.76	0.006
Including			87.0	94.5	7.5	3.01	41.1	3.22	0.005
Which includes			87.0	91.4	4.4	2.82	66.8	5.41	0.005
And			179.2	204.4	25.1	2.38	12.5	0.44	0.004
MGI-11-81	RC	Yellow Pine	0.0	30.5	30.5	2.19	1.1	0.01	0.048
MGI-11-84	RC	Yellow Pine	7.6	42.7	35.1	4.07	0.5	0.23	0.045
MGI-11-92	RC	Yellow Pine	29.0	45.7	16.8	1.45	2.1	0.10	0.002
And			70.1	91.4	21.3	2.85	2.0	0.00	0.001

(1) Based upon the current 3D interpretation of the Hangar Flats 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.

“We continue to be encouraged by drilling results from the 2011 drilling program on our Golden Meadows Project in Idaho,” said Stephen Quin, President and CEO of Midas Gold, Corp. “Recent drilling in the Hangar Flats and Yellow Pine areas has intersected significant gold-silver-antimony mineralization in previously untested areas, near the known deposits. The intercept in drill hole MGI-11-59 is particularly encouraging, with a 242 metre intercept grading 2.2g/t gold within the Yellow Pine deposit,” he said. “Based on the results received to date, Midas has mobilized a second RC drill rig to site to support continued drilling through to mid-December.”

2011 Exploration Program

A total of 80 drill holes totalling approximately 16,000 metres have been completed in 2011, with results available for 35 holes. This drilling is being undertaken as part of an exploration program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. Four core rigs, one sonic rig and two reverse circulation rigs are currently operating on site and plans are underway to continue our drilling program through the winter, based on our continued success. Since acquiring the property in 2009, Midas Gold has completed over 138 core and reverse circulation drill holes totaling over 30,000 metres of drilling.

Hangar Flats is a high-grade gold-silver-antimony-tungsten discovery made by Midas Gold 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 1930’s through the mid-1950’s. The Homestake pit, located at the northeast end of the Yellow Pine deposit, was operated by Hecla Mining Company as a shallow open pit, heap leach gold mine, from 1987 through 1989. As noted in the October 3, 2011 news release, 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.

Recent Drill Results

Drill holes MGI-11-59, -62 and -63 were drilled within and beneath the known mineral resource at Yellow Pine in order to upgrade the confidence level of those mineral resources, to test mineralization at depth and to provide metallurgical samples. Results from these drill holes in this area 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 beneath the modeled pit that limits these mineral resource estimates.

Holes MGI-11-78, 11-80 and 11-91, drilled into the Hangar Flats deposit, were designed to expand and further upgrade the existing mineral resource. The assay results from these holes continue to demonstrate the upside potential of the 5 km-long Meadow Creek Fault trend and provide encouragement for expansion of the Hangar Flats mineral resource as drilling steps-out to the north along this trend.

Holes MGI-11-71, 11-75 to 11-77, 11-79, 11-81 to 11-90 and 11-92 were drilled in the Clark Tunnel and Homestake areas of the Yellow Pine deposit, northeast of the historic past producing Yellow Pine pit and southwest of the past producing Homestake pit. Drilling here has continued to better define the geometry and spatial extent of mineralization within this promising area. For example, holes 11-79 and 11-82 both intersected significant mineralization well beneath the current limits of the pit used to limit Midas Gold’s mineral resource estimates: MGI-11-79 cut 33.5m @ 1.02 g/t Au and 25.9m @ 0.72 g/t Au beneath the limiting pit and MGI-11-82 cut 30.5m @ 0.95 g/t Au, 25.3m @ 1.32 g/t Au and 15.2m @ 0.93 g/t Au beneath the limiting pit. Based on Midas Gold’s current interpretations, mineralization in the Clark Tunnel – Homestake portions of the Yellow Pine deposit consists of a series of up to five stacked, gently to steeply dipping, tabular zones with similar geometries to mineralization styles in the Hangar Flats deposit (which is situated in a nearly identical structural position in the footwall and relative to the Meadow Creek Fault System, the major ore controlling structure in the district).

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).

A complete list of results for this year’s drill program to date can be found on our website at www.midasgoldcorp.com or by clicking here. For figures associated with this news release, 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&#8208;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 company has completed over 138 core and RC holes totalling over 30,000 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 in process to begin the evaluation of 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 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 - Midas Gold News Release 2011-18

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m) (1)	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-11-59	CORE	Yellow Pine	57.3	73.2	15.8	2.95	16.6	0.43	0.002
And			80.5	322.5	242.0	2.21	1.3	0.02	0.007
Including			160.2	225.6	65.5	3.72	1.0	0.00	0.004
MGI-11-62(2)	CORE	Yellow Pine	41.8	107.6	65.8	2.57	2.4	0.01	0.002
Including			43.3	93.7	50.4	2.97	2.8	0.02	0.016
			112.5	248.1	135.6	2.30	1.2	0.00	0.002
			269.1	282.9	13.7	0.50	1.3	0.00	0.002
			287.4	292.3	4.9	0.66	5.2	0.00	0.001
MGI-11-63	CORE	Yellow Pine	112.8	208.8	96.0	1.59	0.8	0.01	0.003
			214.6	234.4	19.8	2.21	0.6	0.00	0.001
			241.7	250.9	9.1	1.27	0.3	0.00	0.000
			257.0	270.7	13.7	1.00	0.5	0.00	0.001
			275.2	284.4	9.1	0.82	1.0	0.00	0.001
MGI-11-65	CORE	Yellow Pine	171.0	186.5	15.5	0.74	4.7	0.00	0.001
MGI-11-71	CORE	Yellow Pine	135.9	159.7	23.8	3.90	2.9	0.04	0.001
MGI-11-73	CORE	Hangar Flats	15.2	61.9	46.6	2.20	3.0	0.17	0.005
And			77.4	94.2	16.8	1.93	2.1	0.04	0.006
And			173.1	183.5	10.4	1.92	22.3	1.08	0.016
And			256.3	261.5	5.2	1.60	3.8	0.01	0.006
And			294.1	301.8	7.6	0.77	0.6	0.01	0.003
MGI-11-75	CORE	Yellow Pine	13.6	22.9	9.3	2.30	3.5	0.23	0.004
And			29.6	39.6	10.1	4.51	2.6	0.03	0.001
And			109.9	114.0	4.1	1.33	0.1	0.00	0.060
And			226.5	244.5	18.0	0.57	0.8	0.00	0.002
And			261.5	272.2	10.7	0.62	0.6	0.00	0.001
MGI-11-77	CORE	Yellow Pine	36.1	49.2	13.1	0.68	2.3	0.09	0.002
And			62.9	72.2	9.3	2.63	2.2	0.40	0.001
MGI-11-78	CORE	Hangar Flats	55.5	95.7	40.2	2.69	11.4	0.76	0.006
Including			87.0	94.5	7.5	3.01	41.1	3.22	0.005
Which Includes			87.0	91.4	4.4	2.82	66.8	5.41	0.005
And			179.2	204.4	25.1	2.38	12.5	0.44	0.004
And			254.4	271.3	16.9	1.22	1.7	0.08	0.004
MGI-11-79	RC	Yellow Pine	7.6	32.0	24.4	1.59	0.2	0.01	0.002
And			118.9	152.4	33.5	1.02	0.0	0.00	0.001
And			157.0	182.9	25.9	0.72	0.0	0.00	0.001
MGI-11-80	CORE	Hangar Flats	6.1	39.6	33.5	0.99	0.8	0.01	0.006
And			51.2	77.0	25.8	1.77	1.0	0.01	0.005
MGI-11-81	RC	Yellow Pine	0.0	30.5	30.5	2.19	1.1	0.01	0.048
MGI-11-82	CORE	Yellow Pine	28.4	35.7	7.3	1.29	0.1	0.01	0.004
And			55.5	64.9	9.4	1.29	0.5	0.00	0.004
And			87.5	104.6	17.1	0.73	0.8	0.00	0.004
And			115.2	145.7	30.5	0.95	1.1	0.00	0.003
And			150.3	175.6	25.3	1.32	0.2	0.00	0.001
And			180.4	195.7	15.2	0.93	0.0	0.00	0.001
MGI-11-84	RC	Yellow Pine	7.6	42.7	35.1	4.07	0.5	0.23	0.045
And			88.4	99.1	10.7	0.46	0.3	0.00	0.002
And			112.8	137.2	24.4	0.85	0.6	0.00	0.002
MGI-11-85	RC	Yellow Pine	29.0	48.8	19.8	1.97	2.7	0.01	0.004
And			62.5	76.2	13.7	3.07	2.3	0.01	0.002
MGI-11-86	RC	Yellow Pine	22.9	27.4	4.6	2.42	8.4	0.85	0.006
And			51.8	57.9	6.1	1.78	2.0	0.00	0.004
And			64.0	83.8	19.8	1.75	4.5	0.03	0.003
MGI-11-87	CORE	Yellow Pine	9.5	15.7	6.2	2.41	0.2	0.01	0.002
And			22.0	27.4	5.5	0.60	0.2	0.00	0.002
And			42.1	61.0	18.9	0.92	0.9	0.00	0.012
And			65.5	71.3	5.8	0.91	0.7	0.00	0.002
And			76.2	92.1	15.8	0.85	1.2	0.00	0.002
And			296.9	301.5	4.6	0.74	1.0	0.00	0.003
MGI-11-88	RC	Yellow Pine	15.2	35.1	19.8	1.38	1.4	0.00	0.004
And			41.2	47.2	6.1	1.01	0.6	0.00	0.004
And			62.5	76.2	13.7	2.30	4.4	0.16	0.001
MGI-11-89	RC	Yellow Pine	53.3	71.6	18.3	3.92	1.2	0.00	0.002
MGI-11-90	RC	Yellow Pine	35.1	54.9	19.8	3.02	3.0	0.01	0.004
And			62.5	76.2	13.7	1.89	3.2	0.00	0.001
MGI-11-91	CORE	Hangar Flats	214.3	223.1	8.8	1.07	2.0	0.12	0.002
And			227.7	236.8	9.1	0.96	1.2	0.00	0.004
And			241.4	262.4	21.0	1.57	6.0	0.22	0.004
MGI-11-92	RC	Yellow Pine	29.0	45.7	16.8	1.45	2.1	0.10	0.002
And			70.1	91.4	21.3	2.85	2.0	0.00	0.001

(1) Based upon the current 3D interpretation of the Hangar Flats 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 GOLD REPORTS ADDITIONAL GOLD, SILVER & ANTIMONY RESULTS FROM ITS GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-11-62 intersects 47.6m grading 2.97 g/t Au & 2.9 g/t Ag
Hole MGI-11-64 intersects 33.5m grading 2.29 g/t Au & 38.8 g/t Ag
Hole MGI-11-67 intersects 90.5m grading 1.79 g/t Au & 2.2 g/t Ag
Hole MGI-11-73 intersects 46.6m grading 2.20 g/t Au & 3.0 g/t Ag
Hole MGI-11-76 intersects 30.5m grading 2.67 g/t Au & 0.8 g/t Ag

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results, including finalized antimony and silver results, from its ongoing core and reverse circulation (“RC”) drilling program on the Hangar Flats and Yellow Pine deposits at the Golden Meadows Project, Idaho. A total of 50 holes have been completed so far in 2011 and assays are available for the first nineteen holes. Highlights of gold assays from the first four drill holes were previously reported on August 18, 2011 (NR#2011-13) and gold and silver results for the next seven holes were reported on September 7, 2011 (NR#2011-14). Highlights of recently received results, including first time antimony and silver assays and some additional intercepts from previously partially reported holes, are summarized in Table 1 below. More detailed results, including antimony and silver for all holes reported to date, are attached in Table 2 at the end of this release. Additional results from the ongoing program will be released when assays are received and validated.

Table 1: Highlights of Recent Assay(1) Results from Golden Meadows Project

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(2)	Gold (g/t)	Silver (g/t)	Antimony (%)
MGI-11-58	Core	Hangar Flats	201.5	217.3	15.8	6.08	30.4	2.00
MGI-11-62	Core	Yellow Pine	41.8	89.3	47.6	2.97	2.9	0.02
MGI-11-64	Core	Yellow Pine - Clark Tunnel area	116.7	150.3	33.5	2.29	38.8	3.31
MGI-11-67	Core	Hangar Flats	184.6	279.5	95.0	1.79	2.20	0.13
And			300.3	303.4	3.1	1.41	90.0	7.38
MGI-11-70	Core	Yellow Pine - Clark Tunnel area	105.2	114.3	9.1	5.14	207.7	5.76
And			179.8	217.9	38.1	0.68	20.8	0.57
And			222.5	286.5	64.0	0.64	23.0	0.76
MGI-11-73	Core	Hangar Flats	15.2	61.9	46.6	2.20	3.01	0.17
And			77.4	94.2	16.8	1.93	2.1	0.04
And			173.1	183.5	10.4	1.93	22.3	1.08
MGI-11-76	RC	Yellow Pine - Homestake area	27.4	57.9	30.5	2.67	0.8	0.00

(1) Results are deemed preliminary until final assay certificates are issued. Partial results for some holes have been previously released.
(2) Based upon the current 3D interpretation of the Hangar Flats and Yellow Pine deposits, the intervals quoted here are at or near true thickness (with the exception of hole 11-64 and 11-70, where the true thickness is currently undetermined) 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.

“We are encouraged by these latest assay results from our 2011 drilling program, which continues to demonstrate significant gold, silver and antimony mineralization on our Golden Meadows Project in Idaho,” said Stephen Quin, President and CEO of Midas Gold, Corp. “The newly reported silver and antimony results are highly encouraging, as they demonstrate the potential for added by-product value from this significant past producer of these commodities,” he said.

2011 Exploration Program

A total of 50 drill holes totalling approximately 12,250 metres of drilling have been completed at Golden Meadows so far in 2011. This drilling is being undertaken as part of an exploration program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. Four core rigs and one reverse circulation rig are currently operating on site. Since acquiring the property in 2009, Midas Gold has completed over 100 core and reverse circulation drill holes totalling over 24,000 metres of drilling. Given the encouraging results received to date, Midas Gold has mobilized a second RC drill rig to the property, bringing the number of drills to six, and plans to extend the 2011 drill program into mid-December 2011.

Hangar Flats is a high-grade gold-silver-antimony (with localized zones of tungsten mineralization) discovery made by Midas Gold in 2009. 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 1930’s through the mid-1950’s. The Homestake pit, located at the northeast end of the Yellow Pine deposit, was operated by Hecla Mining Company from 1987 through 1989. The area between the Yellow Pine and Homestake pits, known as the Clark Tunnel prospect, was the site of early 1930’s and 1940’s era exploration, but no mining has occurred at this prospect and it has seen only minimal modern exploration drilling. Historical geologic, 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.

Recent Drill Results

As previously reported, drill holes MGI-11-56, -57, -59, -60, -61 and -62 were drilled within and adjacent to the known mineral resource at Yellow Pine in order to upgrade the confidence level of those mineral resources and to provide metallurgical samples. Results from these drill holes, reported herein, are consistent with historic drill program results, providing confidence in Midas Gold’s prior mineral resource models and, in some cases, suggest that additional mineralization may be present within or beneath the modeled pit that limited those mineral resource estimates. Several of these 2011 holes have been re-entered to test deeper in the system and analytical results from these deeper drill tests are pending. 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).

Hole MGI-11-58, -67, and -73, drilled into the Hangar Flats deposit, were designed to expand and further upgrade the existing mineral resource. Partial drill results for portions of these holes were previously reported and final and complete results are now available and are reported herein. These results continue to outline high grade intervals within larger lower grade zones, such as the interval in MGI-11-58, which intersected 15.8m grading 6.08 g/t gold (Au), 30.42 g/t silver (Ag) and 2.0% antimony (Sb) within a broader interval grading 2.66 g/t Au, 11.64 g/t Ag and 0.76% Sb over 56.6m. Hole 11-67, collared approximately 75 metres north of 11-58, also cut significant Au-Ag-Sb mineralization, reporting multiple intercepts including an interval grading 1.90 g/t Au, 16.7 g/t Ag and 1.24% Sb over 19.2m, along with broader lower grade zones including a 95m intercept grading 1.79 g/t Au, 2.2 g/t Ag and 0.13% Sb.

Holes MGI-11-64, -65, -66, -68, -69, -70 and -71, -75 were drilled in the Clark Tunnel – Homestake area of the Yellow Pine deposit, northeast of the past producing Yellow Pine pit and beneath and southwest of the past producing Homestake pit. Final drill results reported herein indicate the presence of a much larger mineralized system than previously recognized, including large intervals with thick antimony and silver intercepts which could provide potentially economically significant by-product credits. The holes in the Clark Tunnel area outline a tabular, northeast-trending, northwest-dipping, mineralized body approximately 35-50 metres of true thickness that appears to be traceable along strike for several hundred meters and down dip for at least 250 metres, and which remains open along strike and down dip. A second mineralized zone, slightly lower and thus far less well defined, was cut in the lower portion of hole MGI-11-70, intersecting 106.7 metres averaging 0.62 g/t Au, 21.5 g/t Ag and 0.67% Sb. The significant thickness of this zone and potential for higher grades along strike or up and down dip warrants additional drilling, which is planned for later this season.

Antimony & Tungsten

U.S. Geological Survey (“USGS”), U.S. Bureau of Mines and Idaho Mine Inspector records report that the Stibnite-Yellow Pine district was the largest producer of antimony and tungsten in the U.S. during the 1940s and early 1950s. On June 7, 1939, in anticipation of United States’ involvement in World War II, President Roosevelt signed the Strategic Materials Act. Antimony and tungsten were both designated as strategic commodities at that time. During World War II, the district is reported to have produced over 90% of the antimony and 60% of the tungsten for the Allied war effort. Geologically, the gold, tungsten and antimony mineralization represent different mineralizing events and, in some cases, occur in overlapping zones while in others as discrete zones. As a result, the relationship between gold, antimony and tungsten values will be highly variable, depending which mineralizing events have affected an area. The main tungsten zone at Yellow Pine, which appears to be more geographically limited in extent, was mined out in 1945 but antimony mining continued through to the end of the Korean War. Additional tungsten intercepts in other areas suggest potential for other localized zones of tungsten mineralization.

Antimony, in various forms, is primarily used as a fire retardant, in heavy duty lead-acid batteries, in metallurgical alloys and a variety of other uses. The United States is reported by the USGS to consume approximately 16% of the world production of antimony, over 90% of which is imported with the balance made up from recycling as the U.S. has no domestic production. Production is dominated by China, which is estimated to produce almost 90% of the world supply. The price of antimony has risen significantly over the past two years, as have many other commodities, partly due to the Chinese government delaying approval of new projects and shutting down smaller, polluting ones in an effort to reduce pollution, according to the USGS. In September 2011, the British Geologic Survey published (see www.mineralsuk.com) its analysis of the supply risk for over 50 metals, ranking antimony and tungsten as two of the four having the highest supply risk of all metals surveyed.

Antimony in igneous rocks within the Golden Meadows project area is typically found in the mineral stibnite. Stibnite mineralization occurs as high grade structurally controlled veins and stockwork zones as typified in hole MGI-11-70 which reported 9.1 metres grading 5.14 g/t Au, 207.7g/t Ag, 5.76% Sb and hole MGI-11-67 which reported 3.1 metres grading 1.41 g/t Au, 90.0 g/t Ag, 7.38% Sb and 0.36% tungsten (W) or as thicker, more disseminated mineralization, such as that cut in MGI-11-67, which reported 88.9m grading 2.25g/t Au, 8.72g/t Ag, 0.73% Sb and hole MGI-11-64 which reported 33.5 metres grading 2.29 g/t Au, 38.8 g/t Ag and 3.31% Sb.

While more restricted in its distribution at Golden Meadows, tungsten is similarly dominated by Chinese production and there is minimal United States domestic production. Uses of tungsten are dominated by the production of very hard metal alloys, such as tungsten carbide, but also include a wide variety of other specialty applications. The USGS estimates that the United States consumes approximately 23% of the world production, and is dependent on imports for approximately two thirds of that demand. Midas Gold believes that there is potential for the discovery of additional zones of tungsten mineralization on the Golden Meadows Project, similar to those mined in the past, and has identified scheelite (a tungsten-rich mineral) in a number of the drill holes completed to date with large low grade intercepts and narrower higher grade intercepts such as MGI-10-21, which intersected 4.3m grading 0.41% tungsten, and MGI-11-67, which intersected 3.1m grading 0.36% tungsten, each with additional values of gold, silver and antimony. Scheelite in the district occurs as discrete sheeted vein swarms, as individual veins and in breccias bodies. As with antimony, tungsten prices have risen significantly over the past several years.

To view current drill hole locations and sections, 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 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 0.002g/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. 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 0.01% lower reporting limit). 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 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.

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, combined with its own regional exploration data, 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, Midas Gold has completed over 100 core and RC holes totaling over 24,000 metres of drilling.

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 Midas Gold Corp.’s (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 Information to the extent that they involve estimates of the mineralization that may be encountered if the Golden Meadows Project is developed. In providing the Forward-Looking Information 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, silver, antimony and tungsten 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: Preliminary(1) Assay Results - Midas Gold News Release 2011-17

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(2)	Gold (g/t)	Silver (g/t)	Antimony (%)
MGI-11-56 (3)	CORE	Yellow Pine	16.6	138.8	122.2	2.28	1.43	0.10
And			145.5	188.1	42.5	1.49	1.64	0.03
MGI-11-57 (3)	CORE	Yellow Pine	30.2	121.0	90.8	2.92	2.71	0.06
MGI-11-58 (3)	CORE	Hangar Flats	75.7	121.3	45.6	2.86	3.98	0.28
And			125.9	130.5	4.6	1.04	0.90	0.01
And			160.7	217.3	56.6	2.66	11.63	0.76
including			201.5	217.3	15.8	6.08	30.42	2.00
MGI-11-60	CORE	Yellow Pine	43.3	92.8	49.5	2.07	1.54	0.01
And			105.2	154.8	49.7	1.46	1.16	0.02
MGI-11-61	CORE	Yellow Pine	62.8	167.6	104.9	1.86	1.21	0.01
MGI-11-62	CORE	Yellow Pine	41.8	89.3	47.6	2.97	2.94	0.02
MGI-11-64 (3)	CORE	Yellow Pine - Clark Tunnel area	50.4	55.0	4.6	0.71	2.23	0.00
And			84.4	90.5	6.1	3.39	6.47	0.03
And			103.0	222.5	119.5	2.90	15.08	1.39
including			116.7	150.3	33.5	2.29	38.84	3.31
And			238.7	331.6	93.0	2.30	2.82	0.03
And			349.3	366.8	17.5	0.92	6.19	0.00
And			391.5	406.8	15.2	0.79	0.55	0.00
MG-11-65	CORE	Yellow Pine - Clark Tunnel area	171.0	186.5	15.5	0.74	4.70	0.00
MGI-11-66 (3)	RC	Yellow Pine - Clark Tunnel area	96.0	149.4	53.3	4.15	8.47	0.08
MGI-11-67	CORE	Hangar Flats	10.1	21.0	11.0	1.80	1.41	0.01
And			25.3	61.6	36.3	1.74	4.12	0.12
And			72.5	156.4	88.9	2.25	8.72	0.73
And			184.6	279.5	95.0	1.79	2.20	0.13
And			285.6	304.8	19.2	1.90	16.71	1.24
including			300.3	303.4	3.1	1.41	90.01	7.38
MGI-11-68	RC	Yellow Pine - Clark Tunnel area	70.1	103.6	33.5	1.91	3.31	0.11
And			158.5	163.1	4.6	0.57	0.00	0.01
MGI-11-69	RC	Yellow Pine - Clark Tunnel area	59.4	94.5	35.1	1.17	2.02	0.02
MGI-11-70	RC	Yellow Pine - Clark Tunnel area	71.6	79.3	7.6	0.89	2.00	0.18
And			83.8	121.9	38.1	2.84	54.43	1.53
including			105.2	114.3	9.1	5.14	207.67	5.76
And			170.7	175.3	4.6	0.66	8.67	0.36
And			179.8	217.9	38.1	0.68	20.81	0.57
And			222.5	286.5	64.0	0.64	22.96	0.76
MGI-11-72	CORE	Yellow Pine - Clark Tunnel area	11.6	21.3	9.8	2.63	5.76	0.05
And			26.1	45.4	19.4	3.26	3.96	0.11
MGI-11-73	CORE	Hangar Flats	15.2	61.9	46.6	2.20	3.01	0.17
And			77.4	94.2	16.8	1.93	2.12	0.04
And			173.1	183.5	10.4	1.93	22.26	1.08
MGI-11-74	RC	Yellow Pine - Homestake area	44.2	62.5	18.3	0.89	2.66	0.12
And			68.6	77.7	10.7	2.53	1.36	0.01
MGI-11-75	CORE	Yellow Pine - Clark Tunnel area	13.6	22.9	9.3	2.30	3.50	0.23
And			29.6	39.6	10.1	4.51	2.56	0.03
MGI-11-76	RC	Yellow Pine - Homestake area	6.1	10.7	4.6	1.06	2.13	0.01
And			15.2	21.3	6.1	0.67	1.15	0.01
And			27.4	57.9	30.5	2.67	0.82	0.00
MGI-11-79	RC	Yellow Pine - Homestake area	7.6	32.0	24.4	1.59	0.23	0.01
And			118.9	152.4	33.5	1.02	0.03	0.00
And			157.0	182.9	25.9	0.72	0.03	0.00

(1) Results are deemed preliminary until final assay certificates are issued. Partial results for some holes have been previously reported.
(2) Based upon the current 3D interpretation of the Hangar Flats 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) Gold assays previously release on August 18, 2011 and September 07, 2011

MIDAS GOLD REPORTS RESULTS FROM A DISTRICT-WIDE AIRBORNE GEOPHYSICAL SURVEY PROMPTING THE STAKING OF AN ADDITIONAL 7,284 HECTARES SURROUNDING ITS GOLDEN MEADOWS PROJECT, IDAHO

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced that it has received the final results from a 958 line kilometre helicopter-supported airborne magnetic and electromagnetic survey flown over its Golden Meadows Project area in central Idaho. As a result of the trends and anomalies identified in the survey, Midas Gold has staked an additional 900 unpatented federal lode mining claims encompassing approximately 7,284 hectares, and more than doubling the size of the land package at Golden Meadows. Click here to view updated Golden Meadows property map.

“Our recently completed high resolution airborne geophysical survey has provided a never before seen look at the structural setting of this significant gold-silver-antimony-tungsten system that underlies our Golden Meadows Project area in west-central Idaho,” said Stephen Quin, President and CEO of Midas Gold. “The survey has outlined numerous geophysical features interpreted to be stratigraphic units and structural zones known to be associated with gold-silver-antimony and tungsten-bearing mineralized systems within the district, as well as a number of completely new targets.” The additional staking comprises 900 federal unpatented lode mining claims that bring the total land package to approximately 11,600 hectares of patented (private) and unpatented lands. “This expansion of our property holdings is the result of our ongoing review of the large historical database acquired and compiled by Midas Gold, spanning the nearly 100 years of past exploration and development activities, integrated with our own exploration activities within the district, including the recent airborne geophysical program,” added Mr. Quin.

2011 Exploration Program

Midas Gold is in the midst of a 30,000 metre core and reverse circulation (“RC”) drilling program at Golden Meadows, with a total approximately 11,200 metres completed so far this season. Currently there are four core rigs and one reverse circulation rig operating on the property and a second RC rig is expected to arrive on site shortly. This drilling is being undertaken as part of an integrated, property-wide exploration program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. The airborne geophysical program was undertaken to assist with these objectives by helping to define the structural architecture of the district, delineate potential controls on mineralization and identify potential mineralized areas.

Airborne Geophysical Survey

The recently completed airborne geophysical survey was designed to map the magnetic and conductive properties of bedrock and surficial materials in the Golden Meadows Project area, to detect zones of known or suspected sulfide-bearing alteration systems within favorable stratigraphic units and to map structural zones associated with precious metal mineralization and antimony deposits within the project area.

The surveyed property contains many anomalous geophysical features, some of which are coincident with known mineralized zones or inferred extensions of them, while others lie in previously untested areas. Areas of interest will be prioritized on the basis of supporting geophysical, geochemical and/or geological information. After initial investigations have been carried out on the highest priority targets, Midas Gold may re-evaluate and re-prioritize the remaining anomalies based on information acquired from the follow-up program.

Of particular interest in the survey results are previously unidentified linear and circular structures that are similar to those associated with the Hangar Flats, West End and Yellow Pine deposits on the Golden Meadows Project, as well as areas of very low resistivity, suggesting the presence of alteration and/or mineralization, with signatures similar to those hosting the principal deposits at Golden Meadows. The identification of these significant new trends and anomalies on the borders of, or beyond the limits of, the previous claim boundaries prompted the extensive claim staking program to ensure such prospective areas were covered. It should be noted that the large Yellow Pine deposit was completely covered with overburden and not discovered until an accidental major washout eroded an estimated 60 metres of fill. This washout exposed high grade gold-silver-antimony-tungsten mineralization that was subsequently mined for the next twenty or so years, and became the largest supplier of antimony and tungsten in the USA in those years, as well as the largest lode gold producer in Idaho for many of those years. The survey results suggest potential for the discovery of similar buried mineralized systems within the newly expanded property area.

The geophysical survey, which covers approximately 85 square kilometres, was flown by Fugro Airborne Surveys and processed in their Toronto, Ontario office. The survey was conducted using a frequency domain DIGHEM multi-coil, multi-frequency electromagnetic system, supplemented by a high sensitivity cesium magnetometer. A GPS electronic navigation system was used to provide accurate positioning of the geophysical data with respect to the ground. A total of 958 line kilometers were flown, with survey lines spaced approximately one hundred metres apart, providing high resolution definition of structures and anomalies. Individual readings along the lines were collected approximately every three to five metres, with GPS precision estimated to be less than one metre. QA/QC included routine calibration checks for the geophysical instruments and GPS system and syn- and post-flight processing checks for instrument drift and diurnal variations.

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 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&#8208;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 100 core and RC holes totalling over 23,000 metres, completed extensive district scale exploration and systematic environmental baseline data collection. Metallurgical test work and gold deportment studies are underway, as well as geotechnical drilling.

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 Midas Gold Corp’s (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, that the geophysical anomalies are detecting geological structures, alteration and mineralization, 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 APPOINTS BOB BARNES AS VICE-PRESIDENT, DEVELOPMENT

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) is pleased to announce the addition of Bob Barnes, P.Eng. to the Midas Gold team as Vice-President, Development.

Mr. Barnes was previously with Capstone Mining Corp. as their Vice President, Operations and was responsible for Capstone’s mines in Yukon and Mexico (from 2008 through early 2011) and for the development and operation of Capstone’s Cozamin mine in Mexico before the Capstone - Sherwood Copper Corp. merger.

Prior to Capstone, Mr. Barnes was involved in technical studies and operations in various locations, including a period with Pan American Silver. From 1985 to 1995, he worked with Wharf Resources, where he was General Manager of the Golden Reward and Wharf gold mines in South Dakota from 1988-1995. From 1981-88, Mr. Barnes played a leadership role in the feasibility, permitting, construction and operation of the original Wharf mine and, subsequently, for the permitting and implementation of a five-fold increase in production at these mines. Mr. Barnes is a mining engineer by training and spent his first three years with Teck Corporation in operations, before moving on to his Wharf-related activities.

“We are extremely pleased to welcome Bob to the Midas Gold team,” commented Stephen Quin, President and CEO of Midas Gold. “His experience in US gold production, permitting and interactions with regulators in the United States will be particularly helpful in advancing the Golden Meadows Project.”

In connection with his appointment and in accordance with the Company’s Stock Option Plan, Mr. Barnes has been granted options to acquire a total of 250,000 common shares of the Company at the exercise price of $3.76 per share for a period of 5 years, subject to vesting. The Company has also granted 200,000 additional options to new employees of the Company with the same terms as specified above.

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&#8208;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.

MIDAS GOLD REPORTS ADDITIONAL DRILL RESULTS FROM ITS 2011 PROGRAM AT ITS GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-11-61 intersects 104.9m @ 1.86 g/t Au & 1.2 g/t Ag
Hole MGI-11-64 intersects 36.6m @ 2.21 g/t Au& 35.0 g/t Ag
Hole MGI-11-70 intersects 38.1m @ 2.84 g/t Au & 54.4 g/t Ag

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results from its ongoing core and reverse circulation (“RC”) drilling program on the Hangar Flats and Yellow Pine deposits at the Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. A total of 36 holes have been completed so far in 2011. Assays are available for the first eleven holes completed this year. Highlights of assays from the first four drill holes were previously reported on August 18, 2011 and highlights for an additional six holes are summarized in Table 1 below, with more detailed results, plus silver values, for all eleven holes in Table 2at the end of this release. Additional results from the ongoing program, including other potential by-product values, will be released when assays are received and validated.

Table 1: Highlights of Recent Preliminary(1) Assay Results from Golden Meadows

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(2)	Gold (g/t)	Silver (g/t)
MGI-11-60	Core	Yellow Pine	43.3	92.8	49.5	2.07	1.54
And			105.2	154.8	49.7	1.46	1.16
MGI-11-61	Core	Yellow Pine	62.8	167.6	104.9	1.86	1.21
MGI-11-64(3)	Core	Yellow Pine - Clark Tunnel area	84.4	90.5	6.1	3.39	6.47
And			103.0	139.6	36.6	2.21	35.01
MGI-11-67	Core	Hangar Flats	10.1	21.0	11.0	1.80	1.41
And			25.3	61.6	36.3	1.72	3.98
And			72.5	79.7	7.2	1.85	3.75
MGI-11-68RC	RC	Yellow Pine - Clark Tunnel area	70.1	103.6	33.5	1.91	3.31
MGI-11-70RC	RC	Yellow Pine - Clark Tunnel area	83.8	121.9	38.1	2.84	54.43

(1) Results are deemed preliminary until final assay certificates are issued.
(2) Based upon the current 3D interpretation of the Hangar Flats 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)Assays only available for upper 139.6 metres, hole completed to 432.2 metres. Assays are pending for the remainder of the hole.

“These latest assay results from our ongoing drilling program continue to demonstrate the exploration potential of our Golden Meadows Project in Idaho,” said Stephen Quin, President and CEO of Midas Gold, Corp. “The results from the Clark Tunnel area of the Yellow Pine deposit, situated between the past producing Yellow Pine and Homestake pits, are particularly encouraging, since they demonstrate the potential to develop significant gold and silver mineral resources adjacent to past producing areas that were previously thought to be well explored,” he said.

2011 Exploration Program

A total of 36 drill holes totaling approximately 9,200 metres have been completed at Golden Meadows so far in 2011. 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 and one reverse circulation rig are currently operating on site.

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 1930’s through the mid-1950’s. The Homestake pit, 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, 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.

As previously reported, drill holes MGI-11-56 and -57 were drilled within the known mineral resource at Yellow Pine in order to upgrade the confidence level of those mineral resources and to provide metallurgical samples. Results from the more recent drill holesin this area, MGI-11-60 and -61, are reported herein and are consistent with historic drill program results, providing confidence in Midas Gold’s prior mineral resource models and, in some cases, suggest that additional mineralization may be present within or beneath the modeled pit that limited the mineral resource estimates. 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).

Hole MGI-11-58 and MGI-11-67, drilled into the Hangar Flats deposit, were designed to expand and further upgrade the existing mineral resource. The drill results from these holes continue to provide encouragement as drilling steps-out to the north along this promising trend.

Holes MGI-11-64, -66, -68, -69 and -70 were drilled along two fences in the Clark Tunnel area of the Yellow Pine deposit, between the historic past producing Yellow Pine and Homestake pits. The drill results, combined with historic trench, underground sample and drill data,demonstrate strong gold mineralization beneath a cap of unmineralized rock lying between the two areas. The holes outline a tabular, northeast-trending, northwest-dipping, mineralized body approximately 35-50 metres true thickness which appears to be traceable along strike for several hundred meters and down dip for at least 250 metres, and remains open along strike and down dip.

To view the locations of current drill hole, 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 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 0.002g/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/tlower 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. 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.

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: Preliminary(1) Assay Results - Midas Gold News Release 2011-14

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)(2)	Gold (g/t)	Silver (g/t)
MGI-11-56(4)	CORE	Yellow Pine	16.6	138.8	122.2	2.28	1.43
And			145.5	188.1	42.5	1.49	1.64
MGI-11-57(4)	CORE	Yellow Pine	30.2	121.0	90.8	2.92	2.71
MGI-11-58(4)	CORE	Hangar Flats	75.7	121.3	45.6	2.86	3.98
And			125.9	130.5	4.6	1.04	0.90
And			160.7	217.3	56.6	2.66	11.64
MGI-11-60	CORE	Yellow Pine	43.3	92.8	49.5	2.07	1.54
And			105.2	154.8	49.7	1.46	1.16
MGI-11-61	CORE	Yellow Pine	62.8	167.6	104.9	1.86	1.21
MGI-11-64(3)	CORE	Yellow Pine - Clark Tunnel area	50.4	55.0	4.6	0.71	2.23
And			84.4	90.5	6.1	3.39	6.45
And			103.0	139.6	36.6	2.21	35.01
MGI-11-66RC(4)	RC	Yellow Pine - Clark Tunnel area	96.0	149.4	53.3	4.15	8.47
MGI-11-67	CORE	Hangar Flats	10.1	21.0	11.0	1.80	1.41
And			25.3	61.6	36.3	1.72	3.98
And			72.5	79.7	7.2	1.85	3.75
MGI-11-68RC	RC	Yellow Pine - Clark Tunnel area	70.1	103.6	33.5	1.91	3.31
And			158.5	163.1	4.6	0.57	0.00
MGI-11-69RC	RC	Yellow Pine - Clark Tunnel area	59.4	94.5	35.1	1.17	2.02
MGI-11-70RC	RC	Yellow Pine - Clark Tunnel area	71.6	79.3	7.6	0.89	2.00
And			83.8	121.9	38.1	2.84	54.43

(1) Results are deemed preliminary until final assay certificates are issued.
(2) Based upon the current 3D interpretation of the Hangar Flats 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)Assays only available for upper 139.6 metres; hole completed to 432.2 metres. Assays are pending for the remainder of the hole.
(4)Gold assays previously release on August 18, 2011.

MIDAS GOLD REPORTS FIRST DRILL RESULTS FROM ITS 2011 PROGRAM ON THE GOLDEN MEADOWS PROJECT, STIBNITE-YELLOW PINE, IDAHO

Hole MGI-11-56 intersects 122.2m @ 2.32 g/t Au; Hole MGI-10-57 intersects 90.8m @ 2.92 g/t Au;
Hole MGI-11-66 intersects 53.3m @ 4.12 g/t Au, including 22.9m @ 7.48 g/t Au

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced preliminary assay results from its ongoing core and reverse circulation (“RC”) drilling program on the Hangar Flats and Yellow Pine deposits at the Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. A total of 21 drill holes have been completed so far in 2011 and assays are available for the first four. Highlights of assays from these first four drill holes are summarized in the table below and additional results from our ongoing drill program, including potential by-product values, will be released when sufficient assays are received.

Highlights of Recent Drilling at Golden Meadows

Hole ID	Type	Target Area	From (m)	To (m)	Interval (m)*	Gold (g/t)
MGI-11-56	Core	Yellow Pine	16.6	138.8	122.2	2.32
and			145.5	178.2	32.7	1.69
MGI-11-57	Core	Yellow Pine	30.2	121.0	90.8	2.92
MGI-11-58	Core	Hangar Flats	75.7	121.3	45.6	2.81
and			168.3	207.3	39.0	2.24
MGI-11-66	RC	Yellow Pine	96.0	149.3	53.3	4.12
including			117.3	140.2	22.9	7.48

* Based upon the current 3D interpretation of the Hangar Flats 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.

“These latest results from drilling at our Golden Meadows Project confirm a robust mineralizing system with excellent grades over significant intervals,” said Stephen Quin, President and CEO of Midas Gold. “The results from the Homestake area of the Yellow Pine system are particularly encouraging, since they indicate considerable potential between two previously mined deposits,” he said. “Drilling is now proceeding apace, with four core and one RC rig working around the clock, and we look forward to a steady flow of information over the coming months as we look to determine the true scale of these substantial mineralizing systems.”

2011 Exploration Program

A total of 21 drill holes totalling approximately 5,100 metres have been completed at Golden Meadows so far this season. This drilling is being undertaken as part of a mineral resource definition and exploration drill program designed to confirm and expand known mineral resources and potentially discover new mineralized areas. Three core rigs and one reverse circulation rig have been operating on site since the end of June and a fourth core rig was added this week.

Hangar Flats is a high-grade gold-silver-antimony-tungsten discovery made in 2009 and these most recent drill intercepts are step outs and in-fill holes from the 2009 and 2010 discovery holes. Yellow Pine is a significant past producer of gold, silver, antimony and tungsten from the 1930’s through the mid-1950’s.

Drill holes MGI-11-56 and -57 were drilled within the known mineral resource at Yellow Pine in order to upgrade the confidence level of those mineral resources and to provide metallurgical samples.

Hole MGI-11-58 was drilled to expand the Hangar Flats mineral resource. The drill results from this hole, along with those from previous drilling, indicate that the Hangar Flats deposit is a series of stacked, north plunging, ellipsoidal zones along the trace of the Meadow Creek fault system, a major district-scale ore controlling structure.

Hole MGI-11-66 was drilled in the Clark Tunnel area, between the historic past producing Yellow Pine and Homestake pits, and was exploratory in nature, designed to test for potential new mineralized areas down dip of the previously defined shallow mineral resource, and yielded very encouraging results. It intersected strong gold mineralization beneath a cap of unmineralized rock lying between the two deposits, with a similar structural style to the adjacent Yellow Pine deposit, demonstrating the possibility of discovery of additional blind mineralization within this prolific mineralized trend.

To view figures of current drill hole locations, 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 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 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 0.002g/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 metres 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 metres 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 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 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. Gold mineralization within the Golden Meadows Project appears to be associated with an intrusion related, gold-rich system overprinted by a younger epithermal gold system with increased silver, antimony and tungsten. Historic production from the district is estimated at approximately one million ounces of gold, along with significant by-products of silver, antimony and tungsten, primarily from underground higher-grade gold-antimony production at Hangar Flats from 1925-38, open pit mining at Yellow Pine from 1938-52, and from heap leaching of oxide gold occurrences, including West End, Garnet Creek and Homestake, from 1974 to 1997. The deeper sulphide gold potential has seen little modern exploration. 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 in the Stibnite-Yellow Pine gold district 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; statements relating to the timing, availability and amount of financings; business objectives; costs and timing relating to the potential acquisition of interests in mineral properties; 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; anticipated results and developments in operations in future periods; 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 RECEIVES ADDITIONAL C$5.2 MILLION PURSUANT TO EXERCISE OF OVER-ALLOTMENT OPTION

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND NOT A SOLICITATION OR A PROSPECTUS FOR STOCK

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (“Midas Gold” or the “Corporation”) (TSX:MAX) today announced that, further to its news release dated July 14, 2011, the syndicate of agents led by Haywood Securities Inc. and BMO Capital Markets, and including Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd. (the “Agents”) has exercised its over-allotment option to purchase an additional 1,623,155 common shares of the Corporation (being that number of shares as is equal to approximately 13% of the number of common shares sold under the Corporation’s initial public offering) at a price of C$3.25 per share for gross proceeds of C$5,275,253.75. The over-allotment option was granted to the Agents in connection with Midas Gold’s initial public offering of 12,307,700 common shares completed on July 14, 2011 in order to cover over-allotments and for market stabilization purposes.

No US Registration or Offering

Midas Gold’s common shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any U.S. state securities laws and may not be offered or sold in the United States or to U.S. Persons absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the securities laws of any such jurisdiction. Any public offering of securities in the United States must be made by means of a U.S. prospectus containing detailed information about the company and management, as well as financial statements.

About Midas Gold and the Golden Meadows Project

Midas Gold is focused on the exploration and, if warranted, development of the Golden Meadows Project in the Stibnite-Yellow Pine district of central Idaho. Gold mineralization within the Golden Meadows Project appears to be associated with an intrusion related, gold-rich system overprinted by a younger, epithermal gold system with increased silver, tungsten and antimony. Historic production from the district is estimated at approximately one million ounces of gold, along with significant by-products of silver, antimony and tungsten, primarily from underground higher-grade gold-antimony production at Hangar Flats from 1925-38, open pit mining at Yellow Pine from 1938-52, and from heap leaching of oxide gold occurrences, including West End, Garnet Creek and Homestake, from 1974 to 1997. The deeper sulphide gold potential has seen little modern exploration. 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”) and filed under Midas Gold’s profile at www.sedar.com. The Hangar Flats, West End and Yellow Pine deposits remain open along strike and to depth and other mineralized areas within the Golden Meadows Project remain to be evaluated.

MIDAS GOLD CORP.

Stephen Quin
President & CEO

Compliance with National Instrument 43-101

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 and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp. and a Qualified Person. The exploration activities at the Hangar Flats and West End deposits were carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Project Manager for the Golden Meadows Project.

For readers to fully understand the information in this news release, they should read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this news release which qualifies the technical information. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in the Technical Report is subject to the assumptions and qualifications contained therein.

Readers are advised that 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 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 the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

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.

Cautionary Note - The mineral resource estimates referenced in this press release use the terms “Indicated Mineral Resources” and “Inferred Mineral Resources.” We advise you that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Midas Gold is not an SEC registered company.

MIDAS GOLD COMMENCES US$10.5 MILLION EXPLORATION PROGRAM AT ITS GOLDEN MEADOWS PROJECT

Airborne Geophysics & 30,000m of Drilling aims to Upgrade & Expand Existing Mineral Resources

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX: TSX) today reported that the 2011 exploration program at its Golden Meadows Project, Valley County, Idaho, has commenced. The work planned by Midas Gold aims to further evaluate the mineral potential of the consolidated Golden Meadows property, unconstrained by historic property boundaries that impeded prior explorers in the area. The 2011 exploration program will use a combination of exploration methods, including airborne and ground geophysics and drilling. The program has four key objectives:

1. To upgrade the confidence levels in portions of the current mineral resources contained in the Hangar Flats, West End and Yellow Pine deposits which in aggregate contain an indicated mineral resource of 2.05 million oz of gold at an average grade of 1.58g/t gold and an additional inferred mineral resource of 3.74 million oz of gold at an average grade of 2.15g/t gold (see news release dated April 20, 2011 for the current mineral resource estimates for all three deposits by type and category);

1. To better understand the potential for economically significant by-products of antimony, silver and tungsten;

1. To increase the overall mineral resources at Golden Meadows by exploring on strike and down dip of the currently defined mineral resources and further drilling areas where significant mineralization has been encountered in prior drilling, but where drill density is insufficient to support mineral resource estimation; and

1. To discover and if warranted, explore entirely new mineralized areas, especially in areas along the major mineralized trends with little or no drilling.

All permits for the 2011 exploration program are in hand and, to date, a total of five core and four reverse circulation (“RC”) holes have already been completed on patented land owned by Midas. The flying of the airborne geophysical survey is also complete, results of which are pending.

In addition to its exploration program, Midas Gold plans to audit the existing environmental database and collect and supplement that extensive collection of scientific information with additional environmental baseline data that will facilitate future programs. Priority baseline studies requiring additional studies or data will be initiated in 2011 and the Company will continue to monitor the local environmental conditions. This information will also assist Midas Gold in developing effective mitigation strategies and best management practices to meet all applicable state and federal environmental standards related to its work. Midas Gold is also planning to undertake certain voluntary remediation and monitoring activities in cooperation with regulatory agencies, including water quality and stream flow measurements.

“Midas Gold’s 2011 exploration at the Golden Meadows Project will, for the first time, begin the evaluation of the potential of this important gold district unconstrained by historic property boundaries,” commented Stephen Quin, President & CEO of Midas Gold Corp. “All three known gold deposits at Golden Meadows are open to expansion along strike and to depth and there is excellent potential to discover entirely new deposits, based on information contained within an extensive exploration database collected and collated by Midas Gold. The 2011 exploration program aims to increase the confidence level of the known mineral resources, to expand the known deposits and to test for potential new deposits, while working to improve the local environmental conditions and our understanding thereof.”

2011 Exploration Program

During 2011, Midas Gold plans to complete approximately 30,000 metres of drilling in approximately 80 drill holes, using a combination of core and reverse circulation (“RC”) drilling. Three track-mounted and heli-portable core drills are being provided by Major Drilling and one RC drill has been provided by TJ Enterprises. Drill mobilization commenced at the end of June, once a base camp was established at Golden Meadows. Drilling is expected to continue through the end of October 2011 and updated NI43-101 mineral resource estimates are planned for completion in the first half of 2012.

The drilling will primarily target extensions and expansions to the Hangar Flats and Yellow Pine gold deposits, which contain significant sulphide gold mineral resources, as reported in news releases dated February 22 and April 20, 2011, as well as looking to better define the potential for by-product antimony, silver and tungsten, all of which were produced historically from these deposits. Additional drilling will evaluate the potential for expansion of the West End mineral resources (also reported on February 22, 2011), and on testing some of the numerous exploration targets identified through the compilation of more than 80 years of exploration and production data recovered from numerous historic operators.

In addition to drilling, an airborne EM and resistivity survey has been flown over the entire property to assist with exploration targeting, and metallurgical studies will be undertaken aimed at further characterizing the nature of the gold in the various deposits and optimizing the recovery thereof, as well as evaluating the potential recoveries of antimony, silver and tungsten.

In parallel with the exploration focused studies, Midas Gold will be conducting environmental base line studies, continuing its voluntary site remediation activities, and working with regulators to better understand the water balances in the district. This work will be designed to develop best management practices that will be utilized and monitored to measure their real efficiencies for the site-specific applications at Golden Meadows. Overall water management will be the key to considering future exploration alternatives.

Total exploration expenditures are anticipated at approximately US$10.5 million, with an additional approximately US$1.25 million to be incurred on environmental, metallurgical and other studies. Additional capital expenditures of approximately US$1.7 million will be incurred in maintaining the property interests held by Midas and establishing a base camp for up to 23 people on the Golden Meadows property, for total project expenditures of approximately US$13.4 million in 2011.

Maps

For the location of these deposits, please click here.

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. Gold mineralization within the Golden Meadows Project appears to be associated with an intrusion related, gold&#8208;rich system overprinted by a younger, epithermal gold system with increased silver and antimony. Historic production from the district is estimated at approximately one million ounces of gold, along with significant by&#8208;products of silver, antimony and tungsten, primarily from underground higher&#8208;grade gold-antimony production at Hangar Flats from 1925&#8208;38, open pit mining at Yellow Pine from 1938&#8208;52, and from heap leaching of oxide gold occurrences, including West End, Garnet Creek and Homestake, from 1974 to 1997. The deeper sulphide gold potential has seen little modern exploration. 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 in the Stibnite-Yellow Pine gold district 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.

Compliance with National Instrument 43-101

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43&#8208;101 and reviewed and approved by Stephen P. Quin, P. Geo., President and CEO of Midas Gold Corp. and a Qualified Person. Current exploration activities are being carried out under the supervision of Christopher Dail, C.P.G., Qualified Person and Project Manager for the Golden Meadows Project.

For readers to fully understand the information in this news release, they should read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this news release which qualifies the technical information. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in the Technical Report is subject to the assumptions and qualifications contained therein.

Readers are advised that 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 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 the measured and indicated categories through further drilling, or into mineral reserves, once economic considerations are applied.

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.
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; statements relating to the timing, availability and amount of financings; business objectives; costs and timing relating to the potential acquisition of interests in mineral properties; 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; anticipated results and developments in operations in future periods; 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” 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.

Cautionary Note - The mineral resource estimates referenced in this press release use the terms “Indicated Mineral Resources” and “Inferred Mineral Resources.” We advise you that while these terms are defined in and required by Canadian regulations, these terms are not defined terms under the U.S. Securities and Exchange Commission (“SEC”) Industry Guide 7 and are normally not permitted to be used in reports and registration statements filed with the SEC. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant “reserves” as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Midas Gold is not an SEC registered company.