Mineral Resource Estimate For Golden Meadows Tailings

VANCOUVER, BC - Midas Gold Corp. reported results of an independent mineral resource estimate for a significant portion of the historic tailings located on its Golden Meadows Project in the Stibnite-Yellow Pine Mining District, Valley County, Idaho. These historic tailings were produced by prior operators during the 1920s through 1950s and currently occupy an impoundment located in the Meadow Creek Valley near the Hangar Flats deposit. These historic tailings present a potential opportunity for Midas Gold to remediate pre-existing disturbance by reprocessing these tailings.

"The mineral resource estimate for the historic tailings at Golden Meadows creates an opportunity to both clean up a pre-existing issue, while also offering potential to recover significant precious metal and antimony values, should environmental, engineering, metallurgical and economic factors prove to be positive," said Stephen P. Quin, President and CEO of Midas Gold Corp. "Given the location of the tailings, they would likely be reprocessed early in any future mine plan, providing for the remediation to occur early in the project life."

The mineral resource estimate is effective October 22, 2013 and was prepared for Midas Gold by Cameron Consulting, Liberty Lake, WA. A substantial majority of mineral resources are located on private land owned by Midas Gold.

Drilling in and around the historic tailings consists of 73 holes, including 27 historic direct-push and reverse circulation holes (mostly monitoring wells), 42 auger holes completed in 2013 (totaling 978m), two PQ-diameter core holes, and four PQ-diameter Sonic holes completed in 2012.

The 2013 drilling program was completed with a conventional hollow-stem auger system with a 7.6cm inner tube driven in advance of the auger flights for continuous recovery of materials and to eliminate cross-contamination. These drill holes range between 8m and 52m in depth and are all vertical. Drill holes were completed on an approximately 75m x 75m grid across the main tailings area.

Excluding holes outside of the tailings area and those that intersected no tailings, the database used in the mineral resource estimate comprises 38 Midas Gold augured drill holes and three sonic drill holes totaling 1,055m of which, 339m have assay results for tailings (four of the 42 Midas Gold holes failed to intersect tailings and were not utilized in the mineral resource estimate). Historic drill holes were only used to aid in construction of the tailings solid. Samples of the tailings from Midas Gold's auger drill program were collected from the auger inner tube on 0.61m (2ft) intervals, split by the on-site geologist and assayed by ALS Chemex. A total of 35 Shelby tube samples were collected to determine wet and dry densities for the tailings material. The bulk density samples have a simple average of 1.495 g/cm3 as determined by Strata, geotechnical engineering consultants.

The mineral resource estimates presented herein follow the guidelines of the Canadian Securities Administrators' National Instrument 43-101 and conform to the required CIM Estimation of Mineral Resource and Mineral Reserves Best Practices Guidelines. Mineral resources have been classified in accordance with the "CIM Standards - For Mineral Resources and Reserves: Definitions" (November 27, 2010), and Companion Policy 43-101CP, as amended by the Canadian Securities Administrators (CSA) and enacted on June 30, 2011. The mineral resource estimate was prepared by consulting geologist Donald Cameron, SME Registered Member and MMSA QP Member, and an Independent Qualified Person as defined in the instrument. Mr. Cameron is the Qualified Person responsible for the mineral resources reported herein. He has read and approved the relevant technical portions of this news release related to the mineral resource estimate for which he is responsible.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set forth in National Instrument 43 -101 and reviewed by Stephen P. Quin, P. Geo. President and CEO of Midas Gold Corp. The exploration activities at the deposit were carried out under the supervision of Richard Moses, CPG, Qualified Person and Field Operations Manager for the Golden Meadows Project.