Midway Gold Joins Russell 3000 Index

Midway Gold Corp. ('Midway' or the 'Company') (MDW:TSX-V; MDW:NYSE-AMEX)
announces it has joined the U.S. broad-market Russell 3000 ® Index upon
Russell Investments reconstituting its comprehensive set of U.S. and
global equity indexes on June 24.

Annual reconstitution of Russell′s U.S. indexes (www.russell.com/indexes)
captures and ranks the 4,000 largest U.S. stocks as of the end of May by
total market capitalization. Membership in the Russell 3000, which
remains in place for one year, means automatic inclusion in the
small-cap Russell 2000 ® Index as well as the appropriate growth and
value style indexes. Russell determines membership for its equity
indexes primarily by objective, market-capitalization rankings and style
attributes.

'We are excited that Midway is recognized among the top stocks in the
U.S.,? said Dan Wolfus, Chairman and CEO of Midway. 'This
benchmark is an important acknowledgment, as a number of fund managers
follow the Russell Indexes and manage their portfolios to include many
of the listed stocks.This is a demonstration of our efforts to
create awareness of Midway as an emerging producer of gold in Nevada.?

The Russell 3000 ® also serves as the U.S. component to the Russell
Global Index.

Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. An industry-leading $3.9 trillion in
institutional assets currently are benchmarked to them. These investment
tools originated from Russell′s multi-manager investment business in the
early 1980s when the company saw the need for a more objective,
market-driven set of benchmarks in order to evaluate outside investment
managers.

ON BEHALF OF THE BOARD

'Daniel E.
Wolfus?

Daniel E. Wolfus, Chairman and CEO

About Midway Gold Corp.

Midway Gold Corp. is a precious metals company with a vision to explore,
design, build and operate mines in a manner accountable to all
stakeholders while producing an acceptable return to its shareholders.
For more information about Midway, please visit our website at www.midwaygold.com
or contact R.J. Smith, Vice President of Administration, at (877)
475-3642 (toll-free).

About Russell

Russell Investments provides strategic advice, world-class
implementation, state-of-the-art performance benchmarks and a range of
institutional-quality investment products. Russell has about $161
billion in assets under management as of March 31, 2011, and serves
individual, institutional and advisor clients in more than 35 countries.
Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life
Insurance Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements about the
Company and its business. Forward looking statements are statements that
are not historical facts and include, but are not limited to, statements
about the Company's intended work plans for its projects and resource
and reserve estimates. The forward-looking statements in this press
release are subject to various risks, uncertainties and other factors
that could cause the Company's actual results or achievements to differ
materially from those expressed in or implied by forward looking
statements. These risks, uncertainties and other factors include,
without limitation, risks related to the timing and completion of the
Company's intended work plans for the Pan project, risks related to
fluctuations in gold prices; uncertainties related to raising sufficient
financing to fund the planned work in a timely manner and on acceptable
terms; changes in planned work resulting from weather, logistical,
technical or other factors; the possibility that results of work will
not fulfill expectations and realize the perceived potential of the
Company's properties; uncertainties involved in the interpretation of
drilling results and other tests and the estimation of gold resources
and reserves; the possibility that required permits may not be obtained
on a timely manner or at all; the possibility that capital and operating
costs may be higher than currently estimated and may preclude commercial
development or render operations uneconomic; the possibility that the
estimated recovery rates may not be achieved; risk of accidents,
equipment breakdowns and labor disputes or other unanticipated
difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in the work program; and other factors identified
in the Company's SEC filings and its filings with Canadian securities
regulatory authorities. Forward-looking statements are based on the
beliefs, opinions and expectations of the Company's management at the
time they are made, and other than as required by applicable securities
laws, the Company does not assume any obligation to update its
forward-looking statements if those beliefs, opinions or expectations,
or other circumstances, should change.

Midway Gold Corp.

R.J. Smith, 877-475-3642 (toll-free)

Vice
President of Administration

www.midwaygold.com