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Midway Gold Corp
Symbol MDW
Shares Issued 176,545,337
Close 2015-03-27 C$ 0.37
Market Cap C$ 65,321,775
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Midway's draft EIS comment period to end March 30

2015-03-27 19:44 ET - News Release

Ms. Jaime Wells reports

MIDWAY ANNOUNCES PLANNED CLOSE OF PUBLIC COMMENT FOR DRAFT EIS AT GOLD ROCK PROJECT, NEVADA

The comment period for the draft environmental impact statement (EIS) for Midway Gold Corp.'s Gold Rock project is planned to close March 30, 2015. The draft EIS became available for public comment on Feb. 13, 2015, as published by the U.S. Bureau of Land Management (BLM) in the federal register. The draft EIS provides an analysis of environmental, social and economic impacts of the proposed mine plan, and possible alternatives. The BLM will then address comments from the public prior to approving the final EIS and awarding a record of decision. The company thanks you for your support as it continues developing Gold Rock as its second gold project in Nevada, and it expects to complete the federal National Environmental Policy Act (NEPA) process in 2015. Today, Midway also published a brief, congratulatory note on a commissioning gold pour at the Pan mine in Nevada. Midway noted that a production-scale pour is scheduled for Monday, March 30. It plans to provide an update on its operations at Pan following this scheduled pour.

What is NEPA?

The environmental impact statement for the Gold Rock project is required under the National Environmental Policy Act. According to A Citizen's Guide to NEPA, the federal government's official handbook states: "The environmental review process under NEPA provides an opportunity for you to be involved in the federal agency decision-making process [...] NEPA requires federal agencies to consider environmental effects that include, among others, impacts on social, cultural and economic resources, as well as natural resources. Citizens often have valuable information about places and resources that they value, and the potential environmental, social and economic effects that proposed federal actions may have on those places and resources. NEPA's requirements provide you the means to work with the agencies so they can take your information into account."

What is an EIS?

The Gold Rock project is on federal land, and NEPA requires the Bureau of Land Management to analyze potential environmental consequences of the planned project and any reasonable alternatives. An EIS is the analysis of how the proposed project, and possible alternatives, will impact the environment. It proposes mitigation measures for identified impacts. Midway is far advanced in the process, which includes baseline studies, a draft EIS and then the final EIS. The draft EIS comment period invites the public to be involved for the second time in the NEPA process. Comments will be addressed in the final EIS, which will then inform the government's final decision and mitigation requirements. Midway completed this entire process for its Pan mine and received the record of decision in December, 2013.

Why public involvement?

Midway understands that public input is a crucial part of involving the community in its project. It believes the project will be improved by this involvement and supports the BLM in encouraging residents to submit comments on the Pan project. Midway understands that living and working in Nevada is a privilege, and it views this phase of the permitting process as an opportunity for the public to take part in building its business in Nevada.

You can learn more about the NEPA process by reading A Citizen's Guide to NEPA, available from the BLM or on the BLM website.

Where to comment

The BLM will be accepting written comments beginning Feb. 13 and ending March 30.

Below are the options available by which to submit comments:

  • Mail to the BLM directly, BLM Ely District Office, HC 33 Box 33500, Ely, Nev., 89301, Attention: Dan Netcher;
  • Fax to Mr. Netcher at 775-289-1910;
  • Submit electronically on the BLM's e-planning website.

Gold Rock project, Nevada

Gold Rock is east of the Pancake Range of western White Pine county, Nevada. The property is approximately 10.5 kilometres southeast of Midway's Pan project and approximately 104 km west of Ely, Nev. Historic gold production at Gold Rock came from the Easy Junior open-pit mine during the 1980s and the 1990s. Midway is developing Gold Rock as its second gold project in Nevada, and expects to complete the federal NEPA process in 2015.

Going concern qualification in Form 10-K

Midway's annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 16, 2015, included an audit opinion that contained a going concern qualification. This announcement is made pursuant to NYSE MKT Company Guide Section 610(b), which requires separate disclosure of receipt of an audit opinion containing a going concern qualification. This announcement does not represent any change or amendment to the company's financial statements or to its annual report on Form 10-K for the fiscal year ended Dec. 31, 2014.

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