MIDAS GOLD & VISTA GOLD COMPLETE COMBINATION OF IDAHO GOLD PROPERTIES & FINANCING

Consolidates Major Gold District with 3 Significant Gold Deposits & District-wide Exploration Potential

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (“Midas Gold”, a private BC company), Midas Gold, Inc. (“Midas”, a private Washington state company) and Vista Gold Corp. (“Vista”, TSX & NYSE Amex Equities: VGZ) today announced that they have completed a transaction whereby Midas, which owned the Hangar Flats and West End deposits in Idaho, and the US subsidiaries of Vista, which owned the Yellow Pine deposit adjacent to Midas’ properties, became wholly owned subsidiaries of Midas Gold in accordance with the terms of an agreement (“the Combination Agreement”), the details of which were announced February 23, 2011. In addition, Midas Gold has completed a private placement financing with institutional and individual investors comprised of approximately 6.1 million shares at C$2.50 per share for gross proceeds of approximately C$15.3 million.

“The completion of these transactions brings all of the known mineral deposits in the Stibnite-Yellow Pine gold district under one roof, and provides the financial capacity to evaluate the true potential of this significant gold district, unconstrained by artificial property boundaries,” said Stephen Quin, President & CEO of Midas Gold. “Midas contributed the Hangar Flats and West End gold deposits, with their significant gold mineral resources, along with its extensive and highly prospective land holdings, to Midas Gold, while Vista contributed its Yellow Pine deposit, the largest gold deposit in the district,” he said. “With its strengthened balance sheet following the closing of the private placement financing, Midas Gold is well positioned to more fully define and potentially expand all three known gold deposits, which remain open along strike and to depth. In addition Midas Gold intends to evaluate the potential of the district for the discovery of entirely new deposits, supported by an extensive exploration database covering Midas Gold’s land holdings in the district.”

Financing

Contemporaneously with the closing of the Combination Agreement, Midas Gold completed a non-brokered private placement financing with approximately 171 institutional and individual investors subscribing to an aggregate of 6,129,800 common shares at a price of C$2.50 per share, for gross proceeds of C$15,324,500. A finder’s fee is payable in respect of certain of these funds.

Combination Agreement

As reported on February 23, 2011, the reorganization of the ownership of the Stibnite-Yellow Pine district was to be effected pursuant to the Combination Agreement among Midas, Midas Gold, Vista Gold U.S., Inc. and Idaho Gold Resources, LLC, under a plan of share exchange to be approved by the shareholders of Midas at a special meeting. Additional details in respect of the Combination Agreement are contained in the news release referred to above and the proxy statement mailed to shareholders.

Results of Shareholders Meeting

On April 1, 2011, Midas held the special meeting of its shareholders and approved the matters contemplated in the Combination Agreement. Of the 43,827,000 shares issued and outstanding on the record date for the meeting, a total of 35,627,000 shares were present at the meeting in person or by proxy, representing 81.2% in Midas, of which all were voted in favour, with none voting against or abstaining.

Capitalization of Midas Gold Corp.

As a result of the completion of the Combination Agreement, the private placement financing and the exercise of certain options in Midas between the date of the shareholders meeting and closing, Midas Gold currently has 84.94 million shares issued and outstanding which, with 8.05 million options and warrants outstanding, gives Midas Gold a fully diluted 92.99 million shares on a fully diluted basis, as follows:

As of April 6, 2011
Shares Issued & Outstanding	84,994,415
Options	600,000
Warrants	7,450,000
Fully Diluted Shares	92,994,415

As of the closing of the transaction, Vista owns 31,802,615 shares of Midas Gold, representing 37.4% of the shares issued and outstanding on April 6, 2011, and 34.2% of the shares on a fully diluted basis.

Website & Presentation

Midas Gold’s website has recently been updated and can be viewed at www.midasgoldinc.com, which includes an updated corporate presentation reflecting the completion of the transactions discussed in this news release.

About the Golden Meadows Project

The Stibnite-Yellow Pine gold district lies at the intersection of major regional fault systems and lies on the margin of the western ring fractured margin of the Tertiary Thunder Mountain caldera complex. Gold mineralization within the Golden Meadows Project appears to be related to an intrusion related, gold-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-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 significant structural corridors. In addition, numerous other gold targets have been identified, with potential for both shallow oxide mineralization and deeper sulphide potential.

As noted in the February 22, 2011 news release by Midas, all three deposits in the Stibnite-Yellow Pine gold district remain open to expansion, with opportunities to expand all of the three currently known gold deposits along strike and to depth. Further, there is potential to discover entirely new deposits based on information contained within an extensive exploration database.

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 by Stephen P. Quin, P. Geo., President and CEO of Midas Gold, Inc. and Midas Gold Corp. The exploration activities at the West End deposit 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 relevant Technical Reports in their entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this news release which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Technical Reports are each intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in those reports is subject to the assumptions and qualifications contained in the Technical Reports.

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 permit to conduct its activities. However, Midas is not aware of any environmental, permitting, legal or other reasons that would prevent it from advancing the project at this time.

Forward-Looking Statements

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

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

Cautionary Note - This press release and the mineral resource estimates referenced in this press release use the terms “Measured Mineral Resources”, “Indicated Mineral Resources”, “Measured & 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.

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

MIDAS GOLD & VISTA GOLD ENTER INTO FORMAL AGREEMENT IN RESPECT OF IDAHO GOLD PROPERTIES

Consolidates Major Gold District with 3 Significant Gold Deposits with District-wide Exploration Potential

VANCOUVER, BRITISH COLUMBIA - Midas Gold, Inc. (“Midas”, a private company) and Vista Gold Corp. (“Vista”, TSX & NYSE Amex Equities: VGZ) today announced that Midas and the US subsidiaries of Vista have executed a Combination Agreement (“the Combination Agreement”) whereby they will contribute their respective Idaho gold assets through a share exchange and contribution to Midas Gold Corp., a new Canadian private company (“Midas Gold”). If the plan of share exchange is approved by the shareholders of Midas, and all other conditions to the transaction are satisfied or waived, Midas Gold will be owned, on a fully diluted basis, 65% by Midas and 35% by Vista.

“The combination agreement with Vista will finally consolidate the Stibnite-Yellow Pine gold district under one company, which should allow for the first systematic evaluation of gold potential of the district, unconstrained by artificial property boundaries,” said Stephen Quin, President & CEO of Midas Gold. “Midas will be contributing the Hangar Flats and West End gold deposits, with its significant gold mineral resources, along with its extensive and highly prospective land holdings, to Midas Gold, while Vista is contributing Yellow Pine, the largest gold deposit in the district,” he said. “In addition, considerable exploration potential remains, with opportunities to expand all three known gold deposits along strike and to depth. Further, there is potential to discover entirely new deposits, based on information contained within an extensive exploration database covering Midas’ extensive land holdings in the district.”

“We believe the combination of the Vista and Midas gold assets is the first step towards fully valuing our holdings in the Stibnite-Yellow Pine gold district,” said Mike Richings, Executive Chairman & CEO of Vista. “The combined holdings will create a company with sizeable gold deposits and district exploration potential. Advancement of Yellow Pine and the Midas properties will be the sole focus of Midas Gold under the very capable leadership of Mr. Stephen Quin. Vista has been successful with similar asset rationalization strategies in the past and we believe our shareholders will benefit from Vista’s shareholding in Midas Gold and Midas Gold’s focused exploration of these assets.”

Combination Agreement
The reorganization of the ownership of the Stibnite-Yellow Pine district will be effected pursuant to the Combination Agreement among Midas, Midas Gold, Vista Gold U.S., Inc. (“Vista US”) and Idaho Gold Resources, LLC (“Idaho Gold”), assuming a plan of share exchange (the “Plan of Share Exchange”) is approved by the shareholders of Midas at a special meeting (the “Special Meeting”) and all of the other conditions to the closing of the reorganization are satisfied or waived. The purpose of the Special Meeting is to consider and approve a Plan of Share Exchange between Midas and Midas Gold pursuant to which Midas’ outstanding shares of common shares (the “Midas Shares”) and outstanding options (the “Midas Options”), other than Midas Shares held shareholders who validly exercise their dissenters’ appraisal rights, will be exchanged for common shares and options of Midas Gold (the “Midas Gold

Shares” and “Midas Gold Options”, respectively), with the result that Midas will become a wholly-owned subsidiary of Midas Gold.

The Plan of Share Exchange is part of a broader, integrated transaction undertaken pursuant to the terms of the Combination Agreement, pursuant to which, if the Plan of Share Exchange is approved at the Special Meeting and the other conditions to closing specified in the Combination Agreement have been satisfied or waived:

1. Vista US will: (a) organize Idaho Gold Holding Company as a wholly owned Idaho corporation (“Idaho Holdco”); (b) contribute its equity interests in Idaho Gold to Idaho Holdco; and (c) at closing, contribute all of the issued and outstanding shares of Idaho Holdco to Midas Gold as a capital contribution, in exchange for that number of Midas Gold Shares equal to, on a fully diluted basis, thirty-five percent (35%) of the Midas Gold Shares that are issued and outstanding at the time that the transactions specified in the Combination Agreement and the Plan of Exchange are completed;

1. The shareholders of Midas, other than any validly dissenting shareholders, will contribute their Midas Shares to Midas Gold in exchange for that number of Midas Gold Shares equal to, on a fully diluted basis, sixty-five percent (65%) of the Midas Gold Shares that are issued and outstanding at the time that the transactions specified in the Combination Agreement and the Plan of Share Exchange are completed; and

1. The holders of Midas Options will exchange their Midas Options for Midas Gold Options of like tenor.

About the Golden Meadows Project
The Stibnite-Yellow Pine gold district lies at the intersection of major regional fault systems and lies on the margin of the western ring fractured margin of the Tertiary Thunder Mountain caldera complex. Gold mineralization within the Golden Meadows Project appears to be related to an intrusion related, gold-rich system overprinted by a younger, epithermal gold system with increased silver and antimony. Historic gold production from the district is estimated at approximately one million ounces, 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 Midas’ Hangar Flats and West End deposits, and Vista’s Yellow Pine deposit, all of which are associated with significant structural corridors. In addition, numerous other gold targets have been identified, with potential for both shallow oxide mineralization and deeper sulphide potential.

The independent resource estimate for the Yellow Pine deposit was initially announced by Vista Gold on November 19, 2003, and the “Yellow Pine Project, Idaho, USA, Technical Report” was filed on SEDAR on December 12, 2003. Vista Gold subsequently incorporated those mineral resources in the “Preliminary Assessment of the Yellow Pine Project, Yellow Pine, Idaho” filed on SEDAR on December 15, 2006. Both documents are filed under Vista Gold’s profile on SEDAR.

Since the filing of the 2006 preliminary assessment for Yellow Pine, there has been no drilling within the area of the mineral resource estimate for Yellow Pine. As part of the combination of the Midas and Vista properties, Midas has retained SRK Consulting (US) Inc. (“SRK”) to complete a new NI 43-101 compliant mineral resource estimate for the Yellow Pine deposit using similar technical parameters as those used for the Midas properties. Given that Midas has recovered additional historic data, the different approaches to the estimation of mineral resources and current economic conditions used by SRK, combined with the lack of recent drilling at Yellow Pine, the mineral resource estimate for Yellow Pine may change. Further, SRK is likely to require some additional confirmatory drilling at Yellow Pine before it can classify the deposit in the indicated or measured categories. Therefore, following the combination, some or all of the mineral resources at Yellow Pine are expected to be reclassified into the inferred category until Midas Gold can complete the confirmatory drilling during the summer of 2011. It is anticipated that SRK will complete its new mineral resource estimate for the Yellow Pine deposit by the end of March 2011.

When and if the consolidation of the Midas and Vista Gold properties is completed, the development options and economic assumptions contained in Vista Gold’s 2006 preliminary economic assessment should no longer be relied upon, given that the passage of time and the consolidation of the deposits in the district, will result in different assumptions and approaches to the economic considerations that will be used by Midas Gold.

As noted in the February 22, 2011 news release by Midas, all three deposits in the Stibnite-Yellow Pine gold district remain open to expansion, with opportunities to expand all three of the currently known gold deposits along strike and to depth. Further, there is potential to discover entirely new deposits based on information contained within an extensive exploration database.

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 by Stephen P. Quin, P. Geo., President and CEO of Midas Gold, Inc. The exploration activities at the West End deposit 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 relevant Technical Reports in their entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this news release which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Technical Reports are each intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in those reports is subject to the assumptions and qualifications contained in the Technical Reports.

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 permit to conduct its activities. However, Midas is not aware of any environmental, permitting, legal or other reasons that would prevent it from advancing the project at this time.

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

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

Cautionary Note - This press release and the mineral resource estimates referenced in this press release use the terms “Measured Mineral Resources”, “Indicated Mineral Resources”, “Measured & 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.

This press release is NOT for U.S. distribution and is not a solicitation or a prospectus for stock

MIDAS REPORTS MINERAL RESOURCE ESTIMATES FOR 2 OF 3 DEPOSITS AT GOLDEN MEADOWS, IDAHO

1.7 million oz of Gold in Indicated and 1.6 million oz of Gold in Inferred Category

VANCOUVER, BRITISH COLUMBIA - Midas Gold, Inc. (a private company) today announced independent mineral resources estimates for Hangar Flats and West End, two of the three deposits comprising the Golden Meadows Project, Valley County, Idaho; an updated estimate for the third deposit and largest gold deposit at Golden Meadows, Yellow Pine, is currently in process. These mineral resource estimates were prepared by SRK Consulting (US) Inc. (“SRK”) in accordance with Canada’s National Instrument 43-101. A summary of the mineral resource estimates is tabulated below, while a Technical Report for each estimate is available on Midas Gold’s website at www.midasgoldinc.com. The substantial majority of these mineral resources are located on patented mineral claims.

Summary of Mineral Resource Estimates for Hangar Flats & West End Deposits*Here.

Deposit/Category	Cut-off Grade (g/t gold)	Tonnes (millions)	Gold Grade (g/t)	Contained Gold (000s oz)
Hangar Flats Oxide
Inferred	0.300	1.5	0.789	38
Hangar Flats Sulphide
Indicated	0.650	9.7	2.002	625
Inferred	0.650	15.6	2.437	1,223
West End Oxide
Indicated	0.274	7.50	0.963	232
Inferred	0.274	1.16	0.826	31
West End Sulphide
Indicated	0.549	18.30	1.512	889
Inferred	0.549	7.71	1.402	348
Combined
Indicated				1,746
Inferred				1,640

*Note - all mineral resources are hosted within Whittle pit shells as described in the SRK technical reports

“The mineral resource estimates for Hangar Flats and West End give Midas Gold a substantial base from which to grow,” said Stephen Quin, President & CEO of Midas Gold. “Assuming closing of the Midas Gold-Vista Gold transaction, which will add the mineral resources at Yellow Pine to these totals, Midas Gold will be in an enviable position, holding rights to a very substantial gold mineral resource located within the United States,” he said. “In addition, considerable upside potential remains to these estimates, with opportunities to expand all three known gold deposits along strike and to depth. Further, there is excellent potential to discover entirely new deposits based on information contained within an extensive exploration database.”

Hangar Flats Mineral Resource Estimate
The Hangar Flats mineral resource estimate is effective January 31, 2011 and is based on a geologic model consisting of a single rock type, cut by the Meadow Creek Fault Zone. The model blocks are 6m x 6m x 6m in the x, y, & z directions, respectively. Each model block is assigned a unique specific gravity based on rock type. All block grade estimates were made using 3m down hole composites. An Inverse Distance Weighting to the second power (ID2) algorithm was employed to generate a categorical indicator grade shell based on a 0.25g/t Au threshold. ID2 was also used for the gold grade estimation. The results of the resource estimation provided a CIM classified Indicated and Inferred Mineral Resource. The mineral resources have been classified as Indicated and Inferred based primarily on sample support and sample spacing and, as a result of the former, all resources supported primarily by historic data are classified as inferred, whereas all mineral resources supported by the Midas drilling are classified as indicated.

The base case Hangar Flats Mineral Resources are reported herein at two different cut-off grades, depending on the material type. The oxide material is reported at a 0.3g/t gold cut-off based on a mining cost of US$1.50/t, a processing cost of US$5.00/t, recovery of 85%, G&A cost of $2.00/t, a 5% NSR and a US$1,200/oz gold value. The sulfide material is reported at a 0.65g/t gold cut-off based on a US$1.50/t mining cost, US$20/t processing cost, 95% recovery, G&A cost of $2.00/t, a 5% NSR and a US$1,200/oz gold value. However, Midas Gold has an option to purchase the 5% NSR and so it will not be applicable in future economic considerations.

The mineral resources are confined within a conceptual Whittle(r) pit design based on the same parameters used for the cut-off grade and a 45° pit slope. The strip ratio for the Whittle pit design is 7.3:1. However, the mineralized trends, as indicated by drilling, extend into areas currently classified as waste within the Whittle pit. As a result, there is potential for a reduction in the indicated strip ratio once infill drilling is completed in 2011, assuming that additional mineral resources are delineated within the Whittle pit.

The Hangar Flats trend is open to the north, where mineralization has been continuously traced by trenching, wide spaced drilling and underground exploration drifts for a distance approximately equivalent to that currently hosting the currently defined mineral resources at Hangar Flats. Further, work to delineate and expand additional mineral resources will be a priority exploration focus in 2011.

West End Mineral Resource Estimate
The West End mineral resource estimate is effective February 16, 2011 and is based on a geologic model consisting of five general rock types, which are cut by three high angle faults. The model blocks are 20ft x 20ft x 20ft in the x, y, & z directions, respectively. Each model block is assigned a unique specific gravity based on rock type. All block grade estimates were made using 10ft down hole composites. An Inverse Distance Weighting to the second power algorithm was employed to generate a categorical indicator grade shell based on a 0.01oz/t Au threshold. An inverse distance weighting squared (ID2) algorithm was also used for the gold grade estimation. The results of the resource estimation provided a CIM classified Indicated and Inferred Mineral Resource. The quality of the drilling and data is very good and the Mineral Resource was classified mainly according to the general drillhole spacing.

The base case West End Mineral Resources are reported at two different cut-off grades, depending on the material type. The oxide material is reported at a 0.274g/t gold cut-off based on a mining cost of US$1.50/t, a processing cost of US$5.00/t, recovery of 85%, G&A cost of $2.00/t and a US$1,200/oz Au value. The sulfide material is reported at a 0.549g/t gold cut-off based on a US$1.50/t mining cost, US$20/t processing cost, 95% recovery, G&A cost of $2.00/t and a US$1,200/oz gold value. The mineral resources are confined within a conceptual Whittle(r) pit design based on the same parameters used for the cut-off grade and a 50° pit slope based on historic mining practices. The strip ratio for the Whittle pit design is 2.6:1.

The West End mineral resource is open along strike to the NE and SW and down dip to the SE. These areas will be a priority exploration focus in 2011. In addition, Midas believes there is potential for stacked mineralized systems under- and over-lying the West End mineral resource, based on wide spaced drilling and surface sampling. This potential will be further evaluated in 2011.

Maps
For the location of these deposits, please view the attached illustrations.

Technical Reports
Technical reports prepared by SRK for each of the Hangar Flats and West End deposits are available on Midas Gold’s website at www.midasgoldinc.com.

Yellow Pine Deposit
The independent resource estimate for the Yellow Pine deposit was initially announced by Vista Gold on November 19, 2003, and the “Yellow Pine Project, Idaho, USA, Technical Report” was filed on SEDAR on December 12, 2003”. Vista Gold subsequently incorporated those mineral resources in the “Preliminary Assessment of the Yellow Pine Project, Yellow Pine, Idaho” filed on SEDAR on December 15, 2006.

Since the 2006 preliminary assessment for Yellow Pine, there has been no drilling within the area of the mineral resource estimate for Yellow Pine. As part of the consolidation of the Midas Gold and Vista properties, Midas Gold has retained SRK to complete a new mineral resource estimate for the Yellow Pine deposit using similar technical parameters as those used for the Midas properties. Given that Midas Gold has recovered additional historic data, the different approaches to the estimation of mineral resources and current economic conditions used by SRK, combined with the lack of recent drilling at Yellow Pine, the mineral resource estimate for Yellow Pine may change. Further, SRK is likely to require some additional confirmatory drilling at Yellow Pine before SRK can classify the deposit in the indicated or measured categories. Therefore, following the combination, the mineral resources at Yellow Pine are expected to be reclassified into the inferred category until Midas Gold can complete the confirmatory drilling during the summer of 2011. SRK is expected to complete its new mineral resource estimate for the Yellow Pine deposit by the end of March 2011.

When and if the consolidation of the Midas Gold and Vista Gold properties is complete, the development options and economic assumptions contained in 2006 preliminary economic assessment should no longer be relied upon, given that the passage of time and the consolidation of the deposits in the district, will result in different assumptions and approaches to the economic considerations..

The Yellow Pine mineral resource remains open to expansion in a number of directions, particularly along strike to the northeast towards the past producing Homestake area. Subject to completion of the Midas Gold - Vista Gold transaction, this potential will be evaluated by Midas Gold in 2011.

Update on Midas-Vista Transaction
Further to Vista Gold’s news release of December 7, 2010, Midas Gold and Vista Gold have advanced the formal documentation of the terms and conditions set out in the letter of intent between the parties and expect to execute the formal documentation shortly. Midas Gold anticipates that it will then be sending a proxy statement for a special meeting of the shareholders of Midas Gold, Inc. to seek shareholder approval of the transaction.

Compliance with National Instrument 43-101
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 permit to conduct its activities. However, Midas is not aware of any environmental, permitting, legal or other reasons that would prevent it from advancing the project.

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

The Stibnite-Yellow Pine district lies at the intersection of major, regional fault systems and lies on the margin of the western ring fractured margin of the Tertiary Thunder Mountain caldera complex. Gold mineralization within the Golden Meadows Project appears to be related to an intrusion related, gold- rich system overprinted by a younger, epithermal gold system with increased silver and antimony. Historic gold production from the district is approximately one million ounces 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 Hangar Flats, West End, and Vista’s Yellow Pine deposits, all of which are associated with significant structural corridors. In addition, numerous other gold targets have been identified, with potential for both shallow oxide mineralization and deeper sulphide potential.

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

Bart Stryhas, PhD, CPG, of SRK is the qualified person, as defined in National Instrument 43-101, responsible for the mineral resource estimates for Hangar Flats and West End deposits reported herein. He has read and approved the relevant technical portions of this news release related to the mineral resource estimates for which he is responsible.

For readers to fully understand the information in this news release, they should read the Technical Reports (available on www.midasgoldinc.com) in their entirety, including all qualifications, assumptions and exclusions that relate to the information set out in this news release which qualifies the Technical Information. Readers are advised that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Technical Reports are each intended to be read as a whole, and sections should not be read or relied upon out of context. The technical information in those reports is subject to the assumptions and qualifications contained in the Technical Reports.

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

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

Cautionary Note - This press release and the mineral resource estimates referenced in this press release use the terms “Measured Mineral Resources”, “Indicated Mineral Resources”, “Measured & 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. This press release is NOT for U.S. distribution and is not a solicitation or a prospectus for stock.

Click here for the maps associated with this release.

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

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

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

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

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

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

Highlights of 2010 Drilling at Hangar Flats

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Click here for the full tables and maps.

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

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

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

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

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

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

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

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

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

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

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

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

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

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