MIDAS GOLD'S YELLOW PINE MINERAL RESOURCE UPDATE EXCEEDS EXPECTATIONS & DEPOSIT CONTINUES TO GROW

Gold Indicated Mineral Resource increases 445%; Antimony and Silver added to Estimates

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced the second of three planned independent NI43-101 mineral resource estimates for its Golden Meadows Project in Idaho. Gold contained in indicated mineral resources at the Yellow Pine Deposit has increased 445% (to 1.815 million oz at a grade of 2.09g/t) from the previously reported estimate, while the inferred mineral resource was largely replaced with newly added ounces of gold and contains 1.885 million ounces at a grade of 1.81g/t gold. A total of 49% of the resource ounces are now in the indicated category - up from 14% in 2011 - even with a 52% increase in total gold contained in the Yellow Pine Deposit and all of the indicated and inferred mineral resource reported herein is contained within resource-limiting open pit shells. Furthermore, antimony and silver have been added to the Yellow Pine mineral resource estimate, as detailed below, including an area with significantly higher grade antimony-silver grades that is detailed on the following page.

Mineral Resource Statement (1), Yellow Pine Deposit, Golden Meadows Project, Idaho
Prepared by SRK Consulting (Canada) Inc., May 31, 2012

Mineral Resource Category	Tonnes (000s)	Gold Grade (g/t)	Contained Gold (000s oz)	Silver Grade (g/t)	Contained Silver (000s oz)	Antimony Grade(4) (%)	Contained Antimony (000s lbs)
Open Pit Oxide(2)Mineral Resources
Indicated	1,572	1.30	66	-	-	0.00	122
Inferred	427	2.12	29	-	-	0.02	178
Open Pit Sulphide(3)Mineral Resources
Indicated	25,463	2.14	1,749	0.72	587	0.11	64,168
Inferred	32,013	1.80	1,856	1.54	1,581	0.13	89,500
Total Open Pit Oxide + Sulphide(2)(3)Mineral Resources
Indicated	27,036	2.09	1,814	0.68	587	0.11	64,290
Inferred	32,440	1.81	1,885	1.52	1,581	0.13	89,678

(1) Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability - see “Compliance with NI43-101” below. All figures are rounded to reflect the relative accuracy of the estimate and therefore numbers may not appear to add precisely. All composites have been capped where appropriate.
(2) Open pit oxide mineral resources are reported at a cut-off grade of 0.42 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(3) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(4) Where antimony grades are shown as “0.00” there is antimony present but it rounds to 0.00.

“The updated mineral resource for Yellow Pine demonstrates excellent progress over the past year,” said Stephen Quin, President and CEO of Midas Gold Corp. “While the indicated mineral resource has grown significantly, we are also very pleased with the significant gain in overall contained ounces of gold, confirming our expectations that the Yellow Pine system has great potential for additional discovery,” he said. “Adding antimony and silver for the first time in a modern resource report is also a significant achievement, bringing potential economic and strategic value to our project. In addition, mineralization remains open in several directions and recent drilling has already demonstrated that it continues to increase.”

The base case mineral resource estimate for the Yellow Pine deposit as prepared by SRK Consulting (Canada) Inc. and is summarized herein. Sensitivity according to gold cut-off grade is summarized below. The economically driven pit shell that limits the mineral resource was based entirely on gold value, with antimony and silver reporting within the resource-limiting pit but not defining it. Within the resource-limiting pit, antimony and silver grades are reported without any cut-off. Any mineralization lying outside the resource-limiting pit is not reported as mineral resources.

Since the date of this mineral resource estimate, additional drilling has been completed, and is continuing, that is extending the mineralization to the west and east beside and below the mineral resources reported herein, while Midas Gold plans to test possible extensions to the south of the current mineral resource later in 2012, subject to permitting, in areas where prior drilling has indicated potential for extensions to mineralization.

Higher Grade Antimony Area

As noted above, within the larger envelope of gold mineralization, there are zones significantly enriched in antimony and silver relative to the overall mineral resource. These zones, defined by a plus 0.1% antimony shell, lie entirely within the pit-limited mineral resource and are reported separately below to illustrate the higher grades of antimony and silver within the overall mineral resource.

Mineral Resource Antimony Subdomain(1), Yellow Pine Deposit, Golden Meadows Project, Idaho
Prepared by SRK Consulting (Canada) Inc., May 31, 2012

(1) Mineral resources are reported as a subset of the total mineral resource in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability - see “Compliance with NI43-101” below. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate.
(2) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below). The antimony subdomain is further limited to discrete zones of mineralization with grades that exceed 0.1% Sb.

Geographic Distribution of Mineral Resources

For ease of reference to prior news releases detailing results of drilling, the mineral resource estimate within the pit shell is also provided below, split into a south area (around the former Yellow Pine open pit operated by Bradley Mining in the 1930s through 1950s), and a north area (around and below the old Clark Tunnel and Homestake area (Hecla Mining Company operated a small scale open pit heap leach operation on oxide material in the Homestake area in the 1990s). The southern portion of the mineral resources tends to have slightly higher gold but significantly higher antimony and silver grades than the northern portion of the deposit.

Mineral Resource Statement (1), Yellow Pine Deposit - South Area, Golden Meadows Project, Idaho
Prepared by SRK Consulting (Canada) Inc., May 31, 2012

Mineral Resource Category	Tonnes (000s)	Gold Grade (g/t)	Contained Gold (000s oz)	Silver Grade (g/t)	Contained Silver (000s oz)	Antimony Grade (%)	Contained Antimony (000s lbs)
Open Pit Oxide(2) Mineral Resources - South Area
Indicated	762	1.34	33	0.00	0.00	0.01	100
Inferred	252	2.65	21	0.00	0.00	0.03	150
Open Pit Sulphide(3) Mineral Resources - South Area
Indicated	17,953	2.23	1,288	0.76	439	0.13	51,751
Inferred	25,454	1.79	1,465	1.90	1,555	0.15	86,733

(1) Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability - see “Compliance with NI43-101” below. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate.
(2) Open pit oxide mineral resources are reported at a cut-off grade of 0.42 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(3) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).

Mineral Resource Statement (1), Yellow Pine Deposit - North Area, Golden Meadows Project, Idaho
Prepared by SRK Consulting (Canada) Inc., May 31, 2012

Mineral Resource Category	Tonnes (000s)	Gold Grade (g/t)	Contained Gold (000s oz)	Silver Grade (g/t)	Contained Silver (000s oz)	Antimony Grade (4) (%)	Contained Antimony (000s lbs)
Open Pit Oxide(2) Mineral Resources - North Area
Indicated	810	1.26	33	0.00	0.00	0.00	21
Inferred	174	1.36	8	0.00	0.00	0.01	28
Open Pit Sulphide(3) Mineral Resources - North Area
Indicated	7,510	1.91	461	0.61	148	0.07	12,418
Inferred	6,559	1.86	391	0.12	26	0.02	2,767

(1) Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability - see “Compliance with NI43-101” below. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate.
(2) Open pit oxide mineral resources are reported at a cut-off grade of 0.42 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(3) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(4) Where antimony grades are shown as “0.00” there is antimony present but it rounds to 0.00.

Yellow Pine Mineral Resource Estimate at different Cut-off Grades

The sensitivity of the Yellow Pine deposit mineral resource estimate to different cut-off grades is tabulated below.

Sensitivity of Mineral Resource Statement (1) for the Yellow Pine Deposit to Cut-off Grade

Category (Base case highlighted)	Cut-off Grade (g/t Gold)	Tonnes (000s)	Gold Grade (g/t)	Contained Gold (000s ozs)	Silver Grade (g/t)	Contained Silver (000s ozs)	Antimony Grade(4) (%)	Contained Antimony (000s lbs)
Oxide(2)- Indicated	0.65	1,229	1.51	60	0.00	0	0.004	122
	0.55	1,405	1.39	63	0.00	0	0.004	122
	0.42	1,572	1.30	66	0.00	0	0.004	122
	0.35	1,654	1.25	67	0.00	0	0.004	122
	0.25	1,758	1.20	68	0.00	0	0.004	122
Sulphide(3)- Indicated	0.95	23,258	2.26	1,689	0.78	582	0.12	63,003
	0.85	24,292	2.20	1,719	0.75	585	0.12	63,662
	0.75	25,463	2.14	1,749	0.72	587	0.11	64,168
	0.65	26,590	2.08	1,774	0.69	587	0.11	64,593
	0.55	27,871	2.01	1,799	0.66	587	0.11	65,157
Oxide(2)- Inferred	0.65	341	2.52	28	0.00	0	0.02	178
	0.55	370	2.37	28	0.00	0	0.02	178
	0.42	427	2.12	29	0.00	0	0.02	178
	0.35	452	2.02	29	0.00	0	0.02	178
	0.25	479	1.93	30	0.00	0	0.02	178
Sulphide(3)- Inferred	0.95	26,969	1.98	1,719	1.65	1,427	0.14	81,349
	0.85	29,210	1.90	1,784	1.60	1,505	0.13	85,072
	0.75	32,013	1.80	1,856	1.54	1,581	0.13	89,500
	0.65	34,894	1.71	1,921	1.48	1,657	0.12	94,550
	0.55	38,032	1.62	1,981	1.39	1,702	0.12	99,410
Total - Indicated	0.65 Oxide, 0.95 Sulphide	24,487	2.22	1,748	0.74	582	0.12	63,125
	0.55 Oxide, 0.85 Sulphide	25,697	2.16	1,782	0.71	585	0.11	63,784
	0.42 Oxide, 0.75 Sulphide	27,036	2.09	1,814	0.68	587	0.11	64,290
	0.35 Oxide, 0.65 Sulphide	28,244	2.03	1,841	0.65	587	0.10	64,714
	0.25 Oxide, 0.55 Sulphide	29,630	1.96	1,867	0.62	587	0.10	65,279
Total - Inferred	0.65 Oxide, 0.95 Sulphide	27,310	1.99	1747	1.63	1,427	0.14	81,526
	0.55 Oxide, 0.85 Sulphide	29,580	1.91	1812	1.58	1,505	0.13	85,250
	0.42 Oxide, 0.75 Sulphide	32,440	1.81	1,885	1.52	1,581	0.13	89,678
	0.35 Oxide, 0.65 Sulphide	35,346	1.72	1950	1.46	1,657	0.12	94,728
	0.25 Oxide, 0.55 Sulphide	38,511	1.62	2011	1.37	1,702	0.12	99,588

(1) Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability - see “Compliance with NI43-101” below. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate.
(2) Open pit oxide mineral resources are reported at a cut-off grade of 0.42 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(3) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(4) Where antimony grades are shown as “0.00” there is antimony present but it rounds to 0.00.

Yellow Pine Mineral Resource Estimation

Mineral resource estimates for Yellow Pine were completed using Gemcom GEMS(r) software by David Rowe, C.P.G., of SRK Consulting (Canada), Inc. and incorporates the results of 92 holes drilled in 2011 and 2012 that were not utilized in the prior mineral resource estimate.

This resource estimate relies on an extensive database of 451 holes drilled by owners prior to Midas Gold, and on 92 holes completed by Midas Gold. In reviewing the total drilling database, SRK and Midas Gold have eliminated 215 drill holes of the total 758 drilled from consideration for various quality assurance reasons. These 215 eliminated holes were primarily drilled in the 1940’s using typical ‘A’ gauge core bits, with sludge and core both assayed and, while they may have identified mineralization, these areas that have not already been delineated by later drilling, will need to be re-drilled prior to incorporating them into a mineral resource estimate. Where the original assay intervals were composited, these holes were removed from consideration. Shallow churn drill holes and air track drill holes were also excluded from the resource calculation. The veracity of the remaining historic drilling, which was completed in the 1940s through the 1990s, was confirmed through a rigorous data verification protocol. This included reviewing original drill logs, assay certificates and survey information, comparison of data from different drilling campaigns within the same area, and comparison to the Midas Gold holes. Blocks of 25m and 50m that were well informed (6 samples minimum) by both historic data and recent drilling were compared to validate the older data. Where no bias existed, and where good correlations dominated, the older data was used in grade estimation. The verification process has increased the degree of confidence in the quality of drilling prior to Midas Gold’s ownership.

Three dimensional structural domains were constructed based on the orientation of the structural controls for gold deposition, and the gold deposit extents were limited within a gold shell constructed at a 0.25 g/t Au fire assay (“AuFA”) threshold. The gold shell was also limited at the boundaries of the deposit so as not to extend more than 60 meters beyond any mineralized drill hole intercept. Antimony and silver shells were also constructed, at 0.1% Sb and 10 g/t Ag respectively. Although spatially related, the antimony and silver mineralization is characterized by different structural controls than the gold mineralization.

Original drill hole gold, silver, and antimony assay values were capped, at 13.5 g/t, 100 g/t, and 7.0% respectively, within the gold grade shell to restrict the influence of high grade outlier values. Composite samples were then created at three meter intervals, and were restricted to the limits of the 0.25g/t Au shell.

Ordinary kriging was used to interpolate grades within each of the three structural domains, and the total gold, silver, and antimony block model estimates consisted of two successively larger passes. The first pass used a maximum search radius of 45 meters for each gold, silver, and antimony, which represents one half (1/2) of the maximum range of the variography, and was subdivided into octants for gold only. The second pass was set to estimate the remaining blocks within the gold shell. Total gold, silver, and antimony assay values were estimated within blocks measuring 15x15x6 meters.

Once the estimation process was completed, the previously mined areas were removed, based on available surveys of the existing open pits, the limits of which have been locally confirmed by holes drilled through backfill material that was placed in some of the pits post-mining, where applicable.

Mineral resources are classified in the Indicated category for all blocks estimated by at least four composite samples from a minimum of two drill holes, and a minimum of three octants from the first interpolation pass which searched out to 45 metres or one half (1/2) of the maximum range of sample grade continuity defined by the variography. Final broad areas of indicated blocks were outlined by constructing a classification envelope designed to encompass zones predominantly flagged by the first search pass. This process allows review of the geologic control/confidence on the deposit, and expands certain areas but excludes others from Indicated category. All remaining blocks within the gold shell are classified as Inferred.

Cut-off Grade Selection

The cut-off grade selected for the base case resource-limiting pit was estimated on the basis of gold only, and used the following assumptions:

	May 2012 Estimate	June 2011 Estimate
Gold Price (US$/oz)	$1,400.00	$1,200.00
Refining & transport (US$/oz recovered)	$7.00	$5.00
Mining cost (US$/tonne moved)	$1.50	$1.50
Sulphide processing cost (US$/tonne processed)	$23.00	$20.00
Oxide processing cost (US$/tonne processed)	$10.00	$5.00
G&A cost (US$/tonne processed)	$3.00	$2.00
Sulphide recovery	90%	95%
Oxide recovery	80%	85%
NSR Royalty	0%	5%
Maximum Pit slopes (2012 has 4 domains)	45/43/40 degrees	45 degrees
Discount rate	7%	0%

This led to a calculated cut-off grade of 0.36g/t gold for oxides and 0.65g/t for sulphides. In order to provide a level of conservatism, Midas Gold requested SRK to add a 15% contingency factor, increasing the base case cut-off grades to 0.42g/t gold for oxides and 0.75g/t for sulphides. This cut-off grade and the assumptions above were used by Jim Robertson, P.Eng., of SRK Consulting (Canada), Inc., to float conceptual pits using Whittle(r) that limit the mineral resources so that only mineral resources above these cut-offs and within the resource-limiting pit are reported; mineralization falling outside the resource-limiting pit is not reported, no matter what the grade. The strip ratio for this resource-limiting pit is 2.63:1 (tonnes of waste to tonnes of mineral resource within the pit).

It should be noted that the assumptions used to derive the cut-off grades and define the resource-limiting pits are estimated so as to meet the NI43-101 requirement for mineral resource estimates to demonstrate “reasonable prospects for economic extraction” and the cut-off grades to be used in the upcoming preliminary economic assessment may vary from those used to limit the mineral resources reported herein, as the inputs to that study are determined. No inference is implied in the changes to the cut-off grade assumptions from the prior mineral resource estimates as to what will be used in the upcoming preliminary economic assessment, as those assumptions remain to be determined.

Future Plans for Yellow Pine Drilling

Drilling at Yellow Pine is continuing, with approximately 14,000m of drilling planned in 51 holes designed to continue to upgrade the remaining inferred mineral resource to the indicated category and to step out beyond the limits of the current mineral resources. As happened in 2011 drilling, some holes will serve both purposes as the upper portions of the holes drill through existing mineral resources, thereby upgrading the confidence level, before extending out beyond the limits of the current mineral resource estimates to continue to test for potential extensions to the mineral resource at Yellow Pine.

Status of Hangar Flats Mineral Resource Estimates

Modelling of the updated Hangar Flats mineral resource has commenced, incorporating the results of 49 new in-fill and step-out holes completed in 2011 and early 2012 and an updated mineral resource estimate is expected to be completed in June 2012. “The results of these new holes have been previously announced by Midas Gold and, overall, results of the in-fill drilling would seem to support a conversion of a portion of the inferred mineral resource to the indicated category,” said Mr. Quin. “However, as noted in prior news releases, a previously unrecognized deflection in the Meadow Creek fault likely cut off some of the inferred mineralization incorporated in the last mineral resource estimate, and some of the holes drilled in the northern portion of the prior resource-limiting pit intercepted lower grade and narrower zones of mineralization than anticipated.”

Drilling subsequent to the cut-off date for both the Yellow Pine and Hangar Flats mineral resource estimates has, as reported in recent news releases available on SEDAR, indicated further extensions to the mineralization, beyond that being included in these updated estimates, and drilling is continuing.

Updated Technical Report

The details of all three mineral resource estimates will be provided in a NI43-101 Technical Report to be filed in conjunction with the completion of a preliminary economic assessment due in Q3/12.

Compliance with National Instrument 43-101

David Rowe, CPG, of SRK Consulting (Canada), Inc. is the qualified person, as defined in National Instrument 43-101, responsible for the mineral resource estimates for the Yellow Pine deposit as 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.

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.

Illustrations
To view the locations of current drill holes and the old and new pit boundaries for the Yellow Pine deposit, 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 resource estimation for the gold deposits at Golden Meadows was completed by David Rowe, C.P.G of SRK Consulting (Canada), Inc. under the supervision of Guy Dishaw, P. Geo, of SRK Consulting (Canada), Inc., and was reviewed by Paul Jensen, C.P.G., Qualified Person and Midas Gold’s Senior Geologist 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 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. A new technical report covering all three updated mineral resources will be filed on SEDAR in conjunction with the completion of a preliminary economic assessment, scheduled for completion in Q3/12.

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” “confirm” 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 PLANS AN ADDITIONAL ~40,000M OF DRILLING ON ITS GOLDEN MEADOWS PROJECT, IDAHO

Phase II Work Includes Continued Infill & Step-out drilling, Completion of a PEA and Exploration

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced its work plans for the remainder of 2012, including up to 40,000m of additional drilling, beyond the 17,000m completed in Phase I of the 2012 program. This Phase II work plan is focused on (1) continued infill and step-out drilling on the three main deposits that comprise the current mineral resources, which all remain open to expansion, (2) completion of a preliminary economic assessment (“PEA”) based on updated mineral resource estimates for all three deposits, (3) advancing the Golden Meadows Project towards a subsequent preliminary feasibility study (“PFS”) and permit applications in 2013, and (4) continued exploration for new deposits, outside of those hosting the current mineral resources. Midas Gold is fully funded for its 2012 activities and beyond.

“The Golden Meadows Project represents a world class mineral resource, with excellent grade, potential for significant by-product credits and is located in a geopolitically stable jurisdiction,” said Stephen Quin, President and CEO of Midas Gold Corp. “These factors warrant a sustained commitment to further expanding the existing mineral resources, as well as advancing the project through completion of a PEA and into a subsequent PFS,” he said. “In addition, we continue exploration within our extensive and highly prospective Golden Meadows Project holdings for potential new gold, silver, antimony and/or tungsten deposits.”

2012 Work Program

Board approval was recently granted for an additional Phase II work program comprised of up to 40,000m of drilling, beyond the 17,000m Phase I drilling completed in the first quarter of 2012. Up to 35,000m of this drilling is targeted as infill and step-out drilling in and around the Hangar Flats, West End and Yellow Pine deposits, with the balance of up to 5,000m focused on discovery of new gold deposits beyond the current geologic limits of these three deposits. Most of the Phase II infill and step-out drilling will be concentrated on the West End and Yellow Pine deposits, where significant upside remains to the mineral resource estimates, as demonstrated by recent drill results at Yellow Pine and by the recent updated mineral resource update for the West End deposit. A more limited program is planned for the Hangar Flats deposit, since this deposit has been the focus of a significant portion of the 2012 drilling to date, including drilling completed in April and May that forms part of the 35,000m of above-noted Phase II drilling. As previously disclosed, updated mineral resource estimates are scheduled for completion later in Q2/12 for the Hangar Flats and the Yellow Pine deposits that incorporate the Phase I drilling, while a further update to the mineral resource estimates will be completed in 2013 that will incorporate the Phase II drilling. During Phase II, up to 5,000m of exploration drilling is planned to test a number of prospects and targets outside of the three main deposits for their potential to host completely new deposits. In aggregate, these Phase II activities are forecast to cost between US$24 million and US$27 million over and above the Phase I expenditures incurred in Q1/12, with the range dependent on the total metres drilled (as some of the meterage is subject to permit applications that are currently under review by the US Forest Service).

In parallel with the Phase II drilling discussed above, Midas Gold is advancing the Golden Meadows Project towards completion of a PEA, scheduled for delivery in Q3/12, based on the updated mineral resource estimates (once completed) for all three deposits. As reported on April 23, 2012, most of the metallurgical testing for each of the three deposits with mineral resources has been completed, confirming that conventional, low-risk metallurgical approaches achieve excellent results. Additional mine planning, geotechnical, design, engineering and cost estimation work is proceeding for delivery of the PEA in Q3/12.

While the PEA is not scheduled for completion until Q3/12, given the size and grade of the existing mineral resources, the metallurgical test results, the potential for by-product credits and other factors, Midas Gold has determined to proceed with the work required to advance the Golden Meadows Project towards completion of a subsequent PFS by conducting the requisite Phase II infill and step-out drilling to finalize the definition of a substantial majority of the existing deposits to a minimum indicated resource category, completing required geotechnical, hydrogeological and hydrology studies, conducting additional metallurgical test work to continue to optimize process recoveries and options, advancing design and engineering activities, as well as cost estimation and other activities. Since the PEA will incorporate a component of inferred mineral resource that cannot be utilized in a PFS, the infill drilling is required before a PFS can be finalized. In addition to the aforementioned Phase II drilling, design and engineering work, environmental baseline data collection, installation of an expanded camp on the Golden Meadows property, required and voluntary environmental remediation and other activities will also continue in support of current and future permit applications and general improvement of site conditions.

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 field activities are carried out under the supervision of Richard Moses, L.G., and Chris Dail, C.P.G., Field Operations Manager and Exploration Manager for Midas Gold, respectively.

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 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”), which is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com. An updated mineral resource estimate for the West End deposit was reported in a news release dated May 16, 2012. A new technical report covering all three updated mineral resource estimates, once completed, will be filed on SEDAR in conjunction with the completion of a preliminary economic assessment, which is scheduled for completion in Q3/12.

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”, “confirm” or “does not anticipate”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “is warranted” 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 SIGNIFICANTLY INCREASES WEST END MINERAL RESOURCE ESTIMATE, GOLDEN MEADOWS PROJECT, IDAHO

Indicated Mineral Resource increases 32%, while Inferred Mineral Resource increases 61%

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced the first of three planned independent NI 43-101 mineral resource estimates for its Golden Meadows Project in Idaho. Gold contained in indicated mineral resources for the West End deposit has increased 32% (to 1.48 million oz) from the previously reported estimate, while the gold contained in inferred mineral resources has increased 61% (to 0.61 million oz). A total of 71% of the resource ounces are in the indicated category and all of the indicated and inferred resource reported herein is contained within resource-limiting open pit shells. The overall grade of the mineral resource remained similar to that previously reported and the West End deposit remains open to expansion in several directions.

The base case mineral resource estimate for the West End deposit as prepared by SRK Consulting (Canada) Inc. is summarized below, while the sensitivity according to cut-off grade is summarized on the following page.

Mineral Resource Statement (1), West End Deposit, Golden Meadows Project, Idaho
Prepared by SRK Consulting (Canada) Inc., May 11, 2012

Mineral Resource Category	Tonnes (000s)	Gold Grade (g/t)	Contained Gold (000s oz)
Open Pit Oxide(2) Mineral Resources
Indicated	8,251	0.83	221.1
Inferred	1,185	0.63	23.9
Open Pit Sulphide(3) Mineral Resources
Indicated	25,750	1.52	1,262.3
Inferred	14,076	1.30	588.1

(1) Mineral resources are reported in relation to a conceptual pit shell. Mineral resources are not mineral reserves and do not have demonstrated economic viability – see “Compliance with NI43-101” below. All figures are rounded to reflect the relative accuracy of the estimate. All composites have been capped where appropriate.
(2) Open pit oxide mineral resources are reported at a cut-off grade of 0.42 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).
(3) Open pit sulfide mineral resources are reported at a cut-off grade of 0.75 g/t Au. Cut-off grades are based on a price of US$1,400 per ounce of gold and a number of operating cost and recovery assumptions, plus a 15% contingency (see details below).

“The updated mineral resource for West End demonstrates excellent progress over the past year,” said Stephen Quin, President and CEO of Midas Gold Corp. “There are as many ounces in the indicated category today as there were in all categories a year ago and the grade has been maintained; in addition, the total number of ounces has grown significantly,” he said. “Even with these increases in confidence and total contained gold, the West End deposit remains open in several directions and a large drill program is planned for the summer of 2012 to test this potential for continued resource additions, as well as continuing to upgrade the remaining inferred mineral resource.”

West End Mineral Resource Estimate at different Cut-off Grades
The sensitivity of the West End mineral resource estimate to different cut-off grades is tabulated below.

Category (Base case highlighted)	Cut-off Grade (g/t Gold)	Tonnes (000s)	Gold Grade (g/t)	Contained Gold (000s ozs)
Oxide - Indicated	0.65	4,360	1.11	156
	0.55	5,693	0.99	182
	0.42	8,251	0.83	221
	0.35	9,895	0.76	241
	0.25	12,647	0.66	268
Sulphide - Indicated	0.95	19,916	1.72	1,104
	0.85	22,700	1.62	1,184
	0.75	25,750	1.52	1,262
	0.65	29,341	1.42	1,343
	0.55	33,603	1.32	1,425
Oxide - Inferred	0.65	389	0.86	11
	0.55	623	0.76	15
	0.42	1,185	0.63	24
	0.35	1,625	0.56	29
	0.25	2,394	0.48	37
Sulphide - Inferred	0.95	10,529	1.45	492
	0.85	12,116	1.38	538
	0.75	14,076	1.30	588
	0.65	15,824	1.23	627
	0.55	17,591	1.17	661
Total - Indicated	0.65 Oxide, 0.95 Sulphide	24,276	1.61	1,260
	0.55 Oxide, 0.85 Sulphide	28,392	1.50	1,366
	0.42 Oxide, 0.75 Sulphide	34,001	1.36	1,483
	0.35 Oxide, 0.65 Sulphide	39,236	1.26	1,584
	0.25 Oxide, 0.55 Sulphide	46,249	1.14	1,693
Total - Inferred	0.65 Oxide, 0.95 Sulphide	10,918	1.43	503
	0.55 Oxide, 0.85 Sulphide	12,740	1.35	553
	0.42 Oxide, 0.75 Sulphide	15,261	1.25	612
	0.35 Oxide, 0.65 Sulphide	17,449	1.17	657
	0.25 Oxide, 0.55 Sulphide	19,985	1.09	698

West End Mineral Resource Estimation

Mineral resource estimates for West End were completed using Gemcom GEMS® software by David Rowe, C.P.G., of SRK Consulting (Canada), Inc. and incorporates the results of 21 holes drilled in 2010 and 2011 that were not utilized in the prior mineral resource estimate, as well as a more robust approach to handling the oxide vs. sulphide boundary. These holes were primarily drilled to test the potential to expand the boundaries of the West End mineral resource below, and to the west and east of the previous estimate. These holes also assisted with confirming prior resource estimates since the holes were generally started off within the existing mineral resource and penetrated through it before extending outside the prior resource limits.

This resource estimate relies on an extensive database of 655 holes drilled by owners prior to Midas Gold and was supplemented by the 21 holes completed by Midas Gold. The veracity of the historic drilling, which was completed in the 1970s through the 1990s, was confirmed through a rigorous data verification protocol. This included reviewing original drill logs, assay certificates and survey information, comparison of data from different drilling campaigns within the same area, and production reconciliation records from mining operations (including a review by the former chief geologist that supervised much of the drilling and the mining operations for a period in the early 1990s), and comparison to the Midas Gold holes. The verification process resulted in a high degree of confidence in the quality of drilling prior to Midas Gold’s drilling and is detailed in the June 2011 Technical Report, a copy of which is filed on SEDAR.

Three dimensional geologic domains were constructed based on host rock lithologies, and the gold deposit extents were limited within a gold shell constructed at a 0.25 g/t Au fire assay (“AuFA”) threshold. The gold shell was also limited at the boundaries of the deposit so as not to extend more than 50 meters beyond any mineralized drill hole intercept.

The geologic model was further subdivided into three distinct regions for resource estimation based on the orientation of the structural controls for gold deposition. Original drill hole gold fire assay values were capped within each lithologic domain to restrict the influence of high grade outlier values. Composite samples were then created at three meter intervals, and were restricted to the limits of the host lithologic domain; composites from one lithologic domain were not used in interpolation of blocks in a different lithologic domain.

Separate interpolation passes using ordinary kriging were utilized within each of the three structural regions, and the total gold block model estimate consisted of two successively larger passes. The first pass used a maximum search radius of 45 meters, which represents one half (1/2) of the maximum range of the variography, and was subdivided into octants. The second pass was set to estimate the remaining blocks within the gold shell. Total gold from fire assay values were estimated within blocks measuring 15x15x6 meters. A separate gold model was also estimated using only cyanide leachable gold composite values (“AuCN”). Oxide gold mineralization was outlined by calculating the ratio of the cyanide leachable gold block values by the total gold block values (AuCN/AuFA). Only blocks with AuCN/AuFA ratio values greater than 0.7 were included in the final oxide resource. All other blocks were reported as sulphide resource.

Once the estimation process was completed, the previously mined areas were removed, based on available surveys of the existing open pits, the limits of which have been locally confirmed by holes drilled through backfill material that was placed in some of the pits post-mining, where applicable.

Resources are classified in the Indicated category for all blocks estimated by at least four composite samples from a minimum of two drill holes, and a minimum of two octants from the first interpolation pass which searched out to 45 metres or one half (1/2) of the maximum range of sample grade continuity defined by the variography. All remaining blocks within the gold shell are classified as Inferred.

Cut-off Grade Selection

The cut-off grade selected for the base case resource-limiting pit was estimated on the basis of gold only, and used the following assumptions:

	May 2012 Estimate	June 2011 Estimate
Gold Price (US$/oz)	$1,400.00	$1,200
Refining & transport (US$/oz recovered)	$7.00	$5.00
Mining cost (US$/tonne moved)	$1.50	$1.50
Sulphide processing cost (US$/tonne processed)	$23.00	$20.00
Oxide processing cost (US$/tonne processed)	$10.00	$5.00
G&A cost (US$/tonne processed)	$3.00	$2.00
Sulphide recovery	90%	95%
Oxide recovery	80%	85%
NSR Royalty	0%	0%
Maximum pit slope	48 degrees	50 degrees
Discount rate	7%	0%

This led to a calculated cut-off grade of 0.36g/t gold for oxides and 0.65g/t for sulphides. In order to provide a level of conservatism, Midas Gold requested SRK to add a 15% contingency factor, increasing the base case cut-off grades to 0.42g/t gold for oxides and 0.75g/t for sulphides. This cut-off grade and the assumptions above were used by Jim Robertson, P.Eng., of SRK Consulting (Canada), Inc., to float conceptual pits that limit the mineral resources so that only mineral resources above these cut-offs and within the resource-limiting pit are reported; mineralization falling outside the resource-limiting pit is not reported, no matter what the grade. The strip ratio for this resource-limiting pit is 2.88:1 (tonnes of waste to tonnes of mineral resource within the pit).

It should be noted that the assumptions used to derive the cut-off grades and define the resource-limiting pits are estimated so as to meet the NI43-101 requirement for mineral resource estimates to demonstrate “reasonable prospects for economic extraction” and the cut-off grades to be used in the upcoming preliminary economic assessment may vary from those used to limit the mineral resources reported herein, as the inputs to that study are determined. No inference is implied in the changes to the cut-off grade assumptions from the prior mineral resource estimates as to what will be used in the upcoming preliminary economic assessment, as those assumptions remain to be determined.

Given that the drilling in the West End deposit completed prior to Midas Gold’s acquisition was almost entirely conducted for determining quantities of mineralization potentially amenable to heap leaching, prior operators generally did not assay for potential by-product metals such as silver, antimony and tungsten. As a result, there is insufficient information to determine the grades for such metals within the West End deposit. However, based on the limited amount of data that is available, the grades for such metals is expected to be low and may not be economically recoverable, except for possibly minor amounts of silver that may be recovered where associated with gold mineralization.

Future Plans for West End Drilling

Drilling at West End is set to recommence shortly, with approximately 14,000m of drilling planned in 58 holes designed to continue to upgrade the remaining inferred mineral resource to the indicated category and to step out; as happened in 2010-11 drilling, some holes will serve both purposes as the upper portions of the holes drill through existing mineral resources, thereby upgrading the confidence level, before extending out beyond the limits of the current mineral resource estimates to continue to test for potential extensions to the mineral resource at West End.

Status of Yellow Pine and Hangar Flats Mineral Resource Estimates
Estimation of the Yellow Pine mineral resource is underway and is incorporating the results of 92 holes drilled in 2011 and early 2012; the updated estimate is expected to be completed by the end of May, 2012. “While the overall quantum of the mineral resource has not yet been determined, it should be noted that the majority of the meterage in the 92 new holes being incorporated into the mineral resource update was designed to upgrade the mineral resources from the inferred to the indicated category (with positive results, as has been reported),” said Mr. Quin. “However, while increases in the mineral resources can be expected (since extensions to mineralization were defined outside the limits of the prior mineral resource estimates) and given the larger number of ounces in the prior mineral resource estimate, any increase in mineral resource is anticipated to be proportionally lower than that for West End, where most of the newly incorporated drilling was step-out,” he added.

Modelling of the updated Hangar Flats mineral resource has commenced, incorporating the results of 49 new in-fill and step-out holes completed in 2011 and early 2012 and an updated mineral resource estimate is expected to be completed in June 2012. “The results of these new holes have been previously announced by Midas Gold and, overall, results of the in-fill drilling would seem to support a conversion of a portion of the inferred mineral resource to the indicated category,” said Mr. Quin. “However, as noted in prior news releases, a previously unrecognized deflection in the Meadow Creek fault likely cut off some of the inferred mineralization incorporated in the last mineral resource estimate.”

Unlike the West End deposit, there is expected to be sufficient data for antimony and silver to estimate a mineral resource for these metals at Hangar Flats and Yellow Pine. However, there is not expected to be sufficient data to define a tungsten grade within these deposits.

Drilling subsequent to the cut-off date for both the Yellow Pine and Hangar Flats mineral resource estimates has, as reported in recent news releases available on SEDAR, indicated further extensions to the mineralization, beyond that being included in these updated estimates, and drilling is continuing.

Updated Technical Report

The details of all three mineral resource estimates will be provided in a NI43-101 Technical Report to be filed in conjunction with the completion of a preliminary economic assessment due in Q3/12.

Compliance with National Instrument 43-101

David Rowe, CPG, of SRK Consulting (Canada), Inc. is the qualified person, as defined in National Instrument 43-101, responsible for the mineral resource estimates for the West End deposit as 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.

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.

Illustrations
To view the locations of current drill holes and the old and new pit boundaries for the West End deposit, 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 resource estimation for the gold deposits at Golden Meadows was completed by David Rowe, C.P.G of SRK Consulting (Canada), Inc. under the supervision of Guy Dishaw, P. Geo, of SRK Consulting (Canada), Inc., and was reviewed by Paul Jensen, C.P.G., Qualified Person and Midas Gold’s Senior Geologist 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 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. A new technical report covering all three updated mineral resources will be filed on SEDAR in conjunction with the completion of a preliminary economic assessment, scheduled for completion in Q3/12.

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” “confirm” 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 HOLDS ITS FIRST AGM AND PROVIDES CORPORATE OVERVIEW OF PROGRESS OVER THE YEAR

Achieves Significant Milestones Corporately and at its Golden Meadows Project, Idaho

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced the results of its first annual general meeting as a public company, at which all of the directors were re-elected and all resolutions were passed. Chairman, Peter Nixon, and President and CEO, Stephen Quin, provided the meeting with an overview of the company’s progress over the past 12 months, where a number of significant milestones have been achieved corporately and at Midas Gold’s Golden Meadows gold-silver-antimony-tungsten project in Idaho.

“The past year has been one of tremendous progress,” said Stephen Quin, President and CEO of Midas Gold Corp. “We have built a team and defined a project that has the potential to become a world-class gold project with potential for important by-products of antimony, silver and possibly tungsten,” he said. “We have the funding and are advancing Golden Meadows towards an updated mineral resource estimate and completion of a PEA, and plan to rapidly move towards completion of a pre-feasibility study and permitting thereafter.”

Corporate Overview

During the past 12 months or so, Midas Gold has:

Assembled a highly qualified board of directors with experience in exploration, mine development, financing and operations, capital markets, financial controls and reporting and corporate governance;

Built a management team with experience and a track record from discovery, through resource and reserve development, feasibilities, mine development and financing and operations, closure and reclamation based in Vancouver (BC) Lake Fork and Boise (Idaho) and Spokane (Washington);

Completed the consolidation of the historic Stibnite-Yellow Pine district, which has seen past production of almost one million ounces of gold and is estimated to have produced approximately 90% of all the antimony and two thirds of all the tungsten in the US during the Second World War and Korean War period. As a result of the consolidation, all significant mineral deposits and occurrences are 100% owned by Midas Gold and its subsidiaries, royalty-free, or under option to Midas Gold to earn 100% ownership;

Completed and announced the first comprehensive mineral resource estimate and technical report on three gold deposits within Golden Meadows property, which outlined a substantial, high grade gold mineral resource, all of which was constrained within conceptual open pits using a US$1,200/oz gold price;

Subsequent to the mineral resource estimate, conducted more than 43,500m of drilling in 175 holes designed to upgrade and expand the mineral resources on all three gold deposits at Golden Meadows, with considerable success, particularly with respect to demonstrating that previous property and geological boundaries did not constrain the mineral resources, all of which will be incorporated into a new mineral resource estimate expected to be completed shortly;

Collected and compiled more than 19 historic geological and exploration databases, through which the mineral resource estimates were supported (reinforced by Midas Gold drill holes) and which defined 16 priority prospects. This information was supplemented by an airborne EM survey that identified 10 priority anomalies (some coincident with the prospects) and suggests potential for the discovery of completely new deposits within the Golden Meadows property;

Assembled an experienced group of external consultants to oversee and direct the technical programs on the Golden Meadows property in support of a preliminary economic assessment scheduled for completion in Q3/12 and subsequent permitting plans;

Conducted an extensive mineralogical and metallurgical test program that demonstrated that conventional, low risk metallurgical approaches can achieve excellent results;

Significantly advanced design and costing of a major mining facility targeting a design throughput of 20,000 tonnes per day, production of gold and antimony concentrates with potential silver (and possibly tungsten) by-products, as well as considering options for the direct production of metal on or off site, all of which will be addressed in a preliminary economic assessment scheduled for completion in Q3/12;

Continued to conduct extensive, on-going environmental base line studies in anticipation of future permit applications while conducting significant voluntary remediation of legacy environmental disturbance;

Commenced an extensive community and stakeholder engagement program, with numerous introductory meetings with local community, state and federal representatives; county, state and federal regulators; non-governmental organizations and other interested parties;

Listed Midas Gold on the TSX Exchange in July 2011 with one of the largest gold resources ever for an IPO;

Raised more than US$90 million publicly and privately.

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.

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 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” “confirm” 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.

STEPHEN QUIN, PRESIDENT & CEO OF MIDAS GOLD, RECEIVES CIM'S SELWYN G. BLAYLOCK MEDAL

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) is pleased to announce that Stephen Quin, President and CEO of Midas Gold, last night accepted the Selwyn G. Blaylock Medal, which is awarded by the Canadian Institute of Mining Metallurgy and Petroleum (CIM). Stephen was awarded this medal in recognition of a career dedicated to the responsible and sustainable advancement and development of national and international exploration.

Established in 1948, the medal honours Selwyn G. Blaylock, one of the pioneers in the mining industry in western Canada. He was president of Cominco, recipient of several international awards for his work in metallurgy, and was the President of the CIM in 1934-35.

“I would like to extend my sincerest personal congratulations to Stephen as recipient of this prestigious reward,” commented Peter Nixon, Chairman of the Board of Midas Gold Corp. “As President and CEO of Midas Gold, Stephen continues to demonstrate exceptional leadership, management skills and industry knowledge. He is a most deserving recipient of the Selwyn G. Blaylock Medal.”

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. Additional information is available on Midas Gold’s website at www.midasgoldcorp.com or under Midas Gold’s profile on SEDAR at www.sedar.com.

MIDAS GOLD REPORTS ADDITIONAL DRILL RESULTS AT YELLOW PINE AND HANGAR FLATS, GOLDEN MEADOWS PROJECT, IDAHO

Additional results extend intercept in hole MGI-12-199 to 102.4m grading 3.10 g/t Au at Yellow Pine
Hole MGI-12-203 intersects 46.0 m grading 2.54 g/t Au, 3.6 g/t Ag, 0.28% Sb plus 20.9m grading 1.39 g/t Au, 118.9 g/t Ag, 6.37% Sb and 0.12% W below Hangar Flats

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced additional assay results from its continuing drilling campaign at its Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. Drilling at both Hangar Flats and Yellow Pine intersected strong gold-silver-antimony-tungsten mineralization over significant intervals beneath or adjacent to the limits of conceptual pits used to constrain prior mineral resource estimates.

Significant assay results from these most recent drill holes are summarized in Table 1, below, with a detailed list of intercepts in Table 2 at the end of this release.

Table 1: Highlights of Recent Golden Meadows Drill Results

Hole ID	Hole Type	Target Area	From (m)	To (m)	Interval (m)2	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-12-186	Core	Yellow Pine	122.5	202.7	80.2	1.56	0.8	0.00	0.003
MGI-12-187	Core	Yellow Pine	192.9	293.8	100.9	1.24	1.3	0.02	0.005
MGI-12-1921	Core	Hangar Flats	104.9	143.0	38.1	2.24	1.2	0.01	0.005
			306.6	396.2	89.6	1.57	43.1	2.76	0.067
MGI-12-1931	Core	Hangar Flats	15.9	56.1	40.2	1.58	2.8	0.04	0.003
			246.1	356.6	110.5	1.27	24.5	1.77	0.028
MGI-12-194	Core	Yellow Pine	61.9	84.1	22.3	4.77	1.4	0.00	0.004
MGI-12-1991	Core	Yellow Pine	20.7	123.1	102.4	3.10	1.4	0.00	0.003
MGI-12-201	Core	Hangar Flats	113.1	146.0	32.9	2.03	16.3	0.73	0.020
			190.5	232.0	41.5	3.02	11.3	0.68	0.004
		including	204.2	228.5	24.2	4.24	15.5	0.90	0.004
MGI-12-203	Core	Hangar Flats	210.6	256.6	46.0	2.54	3.6	0.28	0.003
		including	238.8	248.1	9.3	8.59	4.3	0.04	0.003
			306.6	327.5	20.9	1.39	118.9	6.37	0.118
MGI-12-205	RC	Yellow Pine	4.6	42.7	38.1	4.40	1.4	0.01	0.005
			131.1	153.9	22.9	1.84	2.2	0.00	0.002
MGI-12-206	Core	Yellow Pine	4.3	75.1	70.9	2.57	1.5	0.00	0.003

(1) Portions of this hole or preliminary results from this hole previously reported.
(2) Based upon the current 3D interpretation of the Yellow Pine and Hangar Flats deposits, the intervals quoted here are at or near true thickness unless otherwise noted in the text.

“Our ongoing drill program at both Hangar Flats and Yellow Pine is outlining areas of good grade gold-silver-antimony (+/- tungsten) mineralization over significant intervals beneath or adjacent to pits used to limit our prior mineral resource estimates,” said Stephen Quin, President and CEO of Midas Gold Corp. “These holes, completed during our Phase I drilling program, will continue to add confidence to our geologic and resource models for both Hangar Flats and Yellow Pine deposits and offer potential for increases in the overall mineral resources for each deposit,” he said. “The values for silver, antimony and, on occasion, tungsten, in these holes offer significant potential for by-product credits.” Additional drilling is planned in the coming months, with the objective of further expanding and refining the mineral resource models for both deposits, as well as for the West End deposit.

2012 Drill Program

Midas completed its 17,000m Phase I winter drilling program earlier in April, but drilling is continuing through spring break-up with three core rigs before ramping up for the planned summer drill campaign. The Phase II drill program, to be conducted over the balance of the year, will be focused on continued in-fill and step out drilling on the three known mineral resources (Hangar Flats, West End and Yellow Pine), while parallel exploration drilling (subject to applicable permitting) will focus on new targets and prospects within the Golden Meadows property with the objective of discovering additional mineral deposits.

Recent Results

In the northeastern portion of the Homestake area of the Yellow Pine Deposit, hole MGI-12-205 was collared approximately 34m northeast of hole MGI-11-108 (a hole completed in 2011). That 2011 hole intersected 71.6m grading 2.2 g/t Au (reported previously) and this 2012 step-out hole intersected two intercepts that correlate with the zone cut in the 2011 hole, including an interval 33.5m in length grading 0.61 g/t Au and an interval 22.9m in length grading 1.84 g/t Au. The intercepts from these holes occur to the southeast of a northeast trending fault previously thought to limit mineralization in this direction and both intercepts lie outside of the pit used to limit the prior mineral resource estimate for the Yellow Pine Deposit. This new zone remains open along strike and up dip and, to a lesser extent, down dip and opens up a significant area for exploration for potential additional mineral resources between the Yellow Pine and West End pits.

Recent drilling has also encountered mineralization along the western margin of the Yellow Pine deposit, south of the Clark Tunnel area and north of the former centre of historic mining at Yellow Pine. Drilling here demonstrates that good grades and thicknesses of gold mineralization exist northwest of a northeast trending fault that was previously thought to limit mineralization in this direction, as illustrated by the results in holes MGI-11-124 and MGI-12-187. These intercepts open up a large area of patented claims that has seen little exploration in the past 75 years, and which is largely covered by waste dumps from prior mining activities.

Although drilling on the upper, northern end of the Hangar Flats Deposit has been curtailed for the spring, in part due to lower than expected grades and thicknesses in that area, drilling beneath the Hangar Flats deposit along the lower, southern end of the deposit continues to intersect strong gold-silver-antimony-tungsten mineralization down dip from previous drilling. Final results for holes MGI-12-192, MGI-12-193, MGI-12-203 (portions of which were reported previously), are reported herein and, along with holes MGI-12-168 and MGI-12-169, demonstrate the presence of widespread gold-silver-antimony-tungsten mineralization as much as 100m beneath pits used to limit the prior mineral resource estimate for Hangar Flats. Some of these intercepts have significant antimony and silver associated with the gold mineralization, as illustrated by hole MGI-12-193, which intersected 110.5m grading 1.27 g/t Au, 24.5 g/t Ag and 1.77% Sb and hole MGI-12-203, which intersected 20.9m grading 1.39 g/t Au, 118.9 g/t Ag, 6.37% Sb and 0.118% W.

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 0.005g/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 6 meters of continuous internal waste. Composites above cut-off grade, but less than 10 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.

About Antimony

Antimony is a metal dominantly produced in China that is primarily used as a flame retardant in the manufacture of a variety of materials and, to a lesser extent, as an alloy with lead in the manufacture of batteries. Recent pricing for antimony was US$13,100 per tonne (or US$5.94 per pound), or about 50% more per pound than copper. The British Geologic Survey identified antimony as one of the metals with the highest supply risk in a recent survey, while the European Commission placed antimony on the list of fourteen raw materials on a list of critical concerns for the European Union in the face of serious potential supply shortages. In its 2012 Mineral Commodity Outlook, the US Geologic Survey noted that, ‘In China, the world’s leading antimony producer, the Government continued to shut down antimony mines and smelters in an effort to control environmental issues and resolve safety problems. The local Government in Lengshuijiang, Hunan Province, which accounts for about 60% of the world antimony supply, shuttered almost all of its mines and smelters. Also, officials in Lengshuijiang announced that after more than 110 years of continuous mining, the area now had only 5 years of mining life left.’

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” “confirm” 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 Golden Meadows Drill Results

Hole ID	Hole Type	Target Area	Bearing	Inclination	Total Depth (m)	From (m)	To (m)	Interval (m)2	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-12-164	Core	Hangar Flats	320	-60	294.4	84.1	96.3	12.2	4.78	2.5	0.01	0.003
						190.5	206.0	15.5	4.15	8.3	0.65	0.003
						212.8	228.8	16.0	4.42	6.3	0.48	0.003
MGI-12-186	Core	Yellow Pine	71	-71.5	309.1	122.5	202.7	80.2	1.56	0.8	0.00	0.003
MGI-12-187	Core	Yellow Pine	120	-72.5	365.8	192.9	293.8	100.9	1.24	1.3	0.02	0.005
MGI-12-1901	RC	Hangar Flats	140	-62.5	274.3	79.3	94.5	15.2	0.57	1.6	0.04	0.003
MGI-12-1911	Core	Hangar Flats	320	-72.5	315.5	12.5	27.6	15.1	1.25	4.1	0.03	0.008
						48.8	86.6	37.8	0.80	1.4	0.04	0.004
						270.4	282.6	12.2	0.91	2.1	0.06	0.006
MGI-12-1921	Core	Hangar Flats	280	-83	396.2	7.3	20.9	13.6	0.73	1.3	0.01	0.006
						49.1	78.9	29.9	0.93	0.7	0.01	0.007
						104.9	143.0	38.1	2.24	1.2	0.01	0.005
						165.5	186.5	21.0	1.03	2.4	0.09	0.004
						306.6	396.2	89.6	1.57	43.1	2.76	0.067
MGI-12-1931	Core	Hangar Flats	0	-90	368.5	15.9	56.1	40.2	1.58	2.8	0.04	0.003
						175.9	187.6	11.7	1.00	1.6	0.04	0.003
						246.1	356.6	110.5	1.27	24.5	1.77	0.028
MGI-12-1941	Core	Yellow Pine	120	-45	184.1	0.0	19.5	19.5	2.49	6.1	0.00	0.002
						27.7	54.7	27.0	1.80	2.7	0.01	0.004
						61.9	88.7	26.8	4.06	1.3	0.00	0.003
						117.4	135.2	17.8	0.66	1.7	0.00	0.002
MGI-12-1971	Core	Hangar Flats	0	-90	338.9	4.4	39.6	35.2	1.87	1.9	0.04	0.006
						249.2	271.0	21.8	2.00	3.2	0.06	0.006
MGI-12-1991	Core	Yellow Pine	120	-45	286.2	20.7	123.1	102.4	3.10	1.4	0.00	0.003
Including						43.3	88.7	45.4	3.22	1.2	0.00	0.003
and						95.0	111.0	16.0	3.86	1.5	0.00	0.003
MGI-12-201	Core	Hangar Flats	0	-90	340.8	113.1	146.0	32.9	2.03	16.3	0.73	0.020
						190.5	232.0	41.5	3.02	11.3	0.68	0.004
						204.2	228.5	24.2	4.24	15.5	0.90	0.004
MGI-12-203	Core	Hangar Flats	320	-65	392.3	210.6	256.6	46.0	2.54	3.6	0.28	0.003
including						238.8	248.1	9.3	8.59	4.3	0.04	0.003
						278.1	296.9	18.8	1.54	1.3	0.00	0.003
						306.6	327.5	20.9	1.39	118.9	6.37	0.118
MGI-12-204	Core	Hangar Flats	320	-66	321.9	126.8	142.0	15.2	0.66	0.9	0.01	0.003
MGI-12-205	RC	Yellow Pine	120	-60	189.0	4.6	42.7	38.1	4.40	1.4	0.01	0.005
						53.3	67.1	13.7	0.79	0.6	0.00	0.003
						91.4	125.0	33.5	0.61	1.0	0.00	0.002
						131.1	153.9	22.9	1.84	2.2	0.00	0.002
MGI-12-206	Core	Yellow Pine	120	-75	306.3	4.3	75.1	70.9	2.57	1.5	0.00	0.003
including						4.3	14.0	9.8	6.32	2.3	0.00	0.002
						48.5	60.2	11.7	5.47	1.5	0.00	0.004
						88.4	130.2	41.8	0.56	1.1	0.00	0.003

(1) Portions of this hole or preliminary results from this hole previously reported.
(2) Based upon the current 3D interpretation of the Yellow Pine and Hangar Flats deposits, the intervals quoted here are at or near true thickness unless otherwise noted in the text.

MIDAS GOLD CONFIRMS SIGNIFICANT AU-SB SYSTEM AT SCOUT PROSPECT, GOLDEN MEADOWS PROJECT, IDAHO

Hole MGI-12-198 intersects 13.7m grading 2.01% Sb and 16.8m grading 1.69 g/t Au, 0.91% Sb
Hole MGI-12-202 intersects 30.5m grading 1.17g/t Au, 0.27% Sb and 47.3m grading 1.39 g/t Au, 0.09%Sb

VANCOUVER, BRITISH COLUMBIA - Midas Gold Corp. (MAX:TSX) today announced assay results from two exploration holes drilled at the Scout Prospect on its Golden Meadows Project in the Stibnite-Yellow Pine District, Idaho. Drilling by prior owners and operators had traced mineralization in the Scout area over approximately 650m of strike but typically drilled to depths of less than 150m. These recent drill results, which include significant gold and antimony intercepts, not only confirm historic drill results, but also significantly expand the spatial extent of the known mineralized area and indicate the presence of a significant gold-antimony mineralizing system in the Scout area.

Significant assay results from these drill holes, the first drilled by Midas Gold on the Scout Prospect, are summarized in the table below.

Highlights of Recent Drill Results from the Scout Prospect

Hole ID	Hole Type	Bearing	Inclination	Total Depth (m)	From (m)	To (m)	Interval (m)*	Gold (g/t)	Silver (g/t)	Antimony (%)	Tungsten (%)
MGI-12-198	RC	0	-90	228.6	89.9	103.6	13.7	0.75**	3.1	2.01	0.005
					167.6	184.4	16.8	1.69	3.7	0.91	0.004
MGI-12-202	RC	090	-60	256.0	48.8	79.3	30.5	1.17	2.6	0.27	0.009
					93.0	140.2	47.2	1.39	3.3	0.09	0.010

* Based upon the current 3D interpretation of the Scout prospect, the intervals quoted here are at or near true thickness unless otherwise noted in the text.
** The composite Au value reported here contains intervals below the composite cut-off described below, but is reported here based on high antimony values

“We are pleased with the results of our first two holes drilled on the Scout prospect, which both confirmed historic drill results and intersected additional areas of gold-silver-antimony mineralization where predicted, confirming the presence of a significant gold-antimony system in the Scout area,” said Stephen Quin, President and CEO of Midas Gold Corp. “These holes, completed during our winter drilling program at our Golden Meadows Project, were the first exploration holes drilled in this area in over two decades and were the result of our compilation of numerous pieces of historic geologic and exploration data from as far back as the 1940’s, from multiple operators,” he said. “More drilling is planned in the coming months to better evaluate the potential of this system, subject to permitting”.

2012 Drill Program

Midas has completed its originally planned 17,000m Phase I winter drilling program but is continuing through spring break-up with two to three core rigs before ramping up for the planned summer drill campaign. The additional drilling, to be conducted over the balance of the year, will be focused on continued in-fill and step out drilling on the three known mineral resources (Hangar Flats, West End and Yellow Pine), while exploration drilling being conducted in parallel, subject to applicable permitting, will focus on new targets and prospects within the Golden Meadows property with the objective of discovering additional mineral deposits.

Scout Prospect Description & History

The Scout Ridge prospect is situated approximately 1.25 km northeast of the Hangar Flats deposit, along a north-south fault system that hosts widespread gold-silver and antimony mineralization, and can be traced along strike for approximately 650m in widely spaced drill holes. The fault system, all of which may not be mineralized, can also be inferred to extend for several km to the north-northwest, based on Midas Gold’s 2011 airborne magnetics and EM surveys. Scattered soil anomalies and geologic mapping of this fault shows that it lies approximately 1km to the east of, and parallel to, the Meadow Creek fault system, which controls the Hangar Flats and Yellow Pine gold-silver-antimony-tungsten deposits.

The Scout prospect was first discovered in the 1940s, after US Geological Survey and US Bureau of Mines workers conducted experimental biochemical sampling in the district, which outlined a large gold and antimony biogeochemical anomaly. The area that hosts the biochemical anomaly, occurs in a distinct, linear, north-south trending topographic depression interpreted to be a less resistant structural zone, which is marked by strong geophysical anomalies. A series of weak but pronounced soil anomalies occur parallel to this trend, slightly uphill to the east, where the drilled zones would project to the surface but are covered by talus and slope debris. Several small pits and trenches, which were likely excavated during 1940s during government-sponsored antimony-tungsten exploration, exposed massive, blocky, slightly schistose quartzite containing narrow, gold-bearing, high-grade stibnite veins and altered, sulfide-bearing igneous dikes. Stratigraphic relationships, derived from outcrop mapping and drill data, indicate the valley itself is underlain by calc-silicates and silicified and dolomitized carbonates, similar to those that host the nearby Garnet Prospect. The Garnet prospect lies approximately 0.8km to the east of Scout, and was the site of a 1995 open pit mining operation that produced approximately 35,000 ounces of gold from oxidized ores in skarn and calc-silicates grading approximately 6 g/t gold.

Between 1948 and 1990 three companies explored the Scout area with 20 drill holes, totaling approximately 2,435m. Six east-west IP geophysical lines (by past operators and Midas Gold) run across the Scout Prospect area and delineate a large resistivity low and numerous IP chargeability anomalies that could be indicative of a larger sulphide mineralized system.

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 0.005g/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 6 meters of continuous internal waste. However, where by-products such as antimony are significant, composites that fall below these cut-off requirements may be reported. Composites above cut-off grade, but less than 10 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.

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” “confirm” 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 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.