Midas Gold Provides Metallurgical Update on its Golden Meadows Au-Ag-Sb Project, Idaho

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2014) - Midas Gold Corp. (TSX:MAX) (OTCQX:MDRPF) today provided an update on its extensive independent metallurgical test program completed for the Golden Meadows Project, which is located in the historic Stibnite mining district of Idaho. Since the completion of the Preliminary Economic Assessment published in September 2012 (the "PEA"), Midas Gold's process and metallurgical consultants have focused on defining the metallurgical parameters for the Project for incorporation into a Preliminary Feasibility Study ("PFS") scheduled for completion later in 2014.

"During the past 24 months, Midas Gold and its independent metallurgical consultants have completed an extensive and rigorous metallurgical program designed to support completion of a Preliminary Feasibility Study," said Stephen Quin, President & CEO of Midas Gold Corp. "Successful completion of this program marks a major milestone on the road towards completion of the Preliminary Feasibility Study," he said. "Overall results of the metallurgical test program support excellent overall gold and antimony recoveries from all three deposits."

Metallurgical Highlights

Following the successful completion of an extensive independent metallurgical test program, Midas Gold is able to demonstrate, to a level of confidence required to support its planned PFS, metallurgical parameters that are generally comparable with those set out in the Preliminary Economic Assessment published in September 2012. Taking into consideration the different deposits, types of mineralization and processing methods contemplated, it is anticipated that recovery parameters to be utilized in the PFS will range between 80-90% for antimony, while overall gold recovery to doré after POX and/or leach are forecast to average 88-91% for Hangar Flats, 81-84% for West End and 90-92% for Yellow Pine. Additional details on the metallurgical program are set out below, while more detailed information will be included in the Technical Report summarizing the results of the PFS later, which will be filed later in 2014.

Metallurgical Testing Details

Independent metallurgical consultant, Blue Coast Metallurgy Ltd. ("Blue Coast"), supervised an extensive metallurgical test program on behalf of Midas Gold and in support of the upcoming PFS. The test work was carried out at a variety of independent labs under Blue Coast's direction, including SGS, JK Tech, Process Mineralogy Consultants, Surface Science Western, ACTLabs, Kingston Process Metallurgy and Pocock Industrial, Inc. In total, approximately 800 samples were utilized to generate over 100 variability composites and six global master composites covering mineralization from each of the deposits with reported mineral resources, as well as additional composites for historic tailings and the Scout prospect, and representing the variable styles of mineralization within deposits, including sulfide, oxide and transition materials, as well as high and low antimony grades.