Midway Gold Appoints Independent Director
Midway Gold Corp. ('Midway' or the 'Company') (MDW:TSX-V; MDW:NYSE-AMEX)
is pleased to report that Mr. John W. Sheridan has been appointed to its
Board of Directors and as chair of its Audit Committee, filling a
previously announced vacancy. All three of Midway′s board committees
(Audit, Compensation, and Corporate Governance and Nominating) have
three independent board members.
Mr. Sheridan is a prominent leader in Canada's business community with a
strong track record of success in diverse challenges. He was appointed
President and Chief Executive Officer of Ballard Power Systems on
February 22, 2006. Over the course of a twenty-four year career with
Bell Canada, he rose to high impact officer roles including Group Vice
President of Business Development, Vice Chairman as well as President
and Chief Operating Officer.
In between his positions within Bell Canada, Mr. Sheridan served as CEO
of Encom Cable TV and Telecommunications in the UK. He was recognized as
an innovative leader in the industry and elected Vice-Chairman of the UK
Cable Communication Association in 1994.
Mr. Sheridan has extensive experience in corporate governance, as a
director, committee chair and board chair of numerous companies in
Canada, the USA, and the UK including Bell Canada, MTS, Aliant and Sun
Media Corporation. He currently serves as Chairman of the Board of
Dantherm Power, and is a Board member at Ballard and AFCC. He also
serves as a member of the Premier's Technology Council and as Chair of
the Canadian Hydrogen and Fuel Cell Association.
Mr. Sheridan holds a Bachelor of Environmental Studies from the
University of Waterloo, a Bachelor of Arts from Wilfrid Laurier
University′s School of Business and Economics, and a Master of Arts in
Economics from Queens University. He has also completed Executive
Development Programs at Western, Queen′s and University of Southern
California and Harvard Business School.
In connection with Mr. Sheridan′s appointment, the Board granted him
non-qualified stock options on a total of 250,000 shares of Midway's
common stock pursuant to Midway's shareholder approved combined
incentive and non-qualified stock option plan. The options are
exercisable for up to five years at a price of C$1.89 per share being
the last closing price (on February 27, 2012) of Midway's common shares
prior to the grant of options, and are subject to any applicable
regulatory hold periods.
ON BEHALF OF THE BOARD
'Daniel E. Wolfus?
Daniel E. Wolfus, Chairman, CEO and Director
About Midway Gold Corp.
Midway Gold Corp. is a precious metals company with a vision to explore,
design, build, and operate gold 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).
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 the projects and resource
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 projects, 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, Vice President of
Administration
(877) 475-3642 (toll-free)
www.midwaygold.com