Building Business Building Business in Nevada in Nevada MDW - PowerPoint PPT Presentation

Building Business Building Business in Nevada in Nevada MDW TSX-V & NYSE MKT April 2013

FORW FORWARD LOOKING DISCLAIMER ARD LOOKING DISCLAIMER This presentation 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 estimates. The forward-looking statements in this presentation are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to di ff er 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 its projects, risks related to fl uctuations in gold prices; uncertainties related to raising su ffi cient fi nancing 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 ful fi ll 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 di ffi culties or interruptions; the possibility of cost overruns or unanticipated expenses in the work programs; and other factors identi fi ed in the Company's SEC fi lings and its fi lings 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 assumes no obligation to update its forward-looking statements if those beliefs, opinions expectations, or other circumstances should change. Cautionary note to U.S. investors concerning estimates of reserves and resources: This presentation and the technical reports referred to in this presentation use the terms "resource", "reserve", "measured resources", "indicated resources" and "inferred resources", which are terms de fi ned under Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classi fi cation system. Estimates of mineral resources in this presentation and in the technical reports referred to in this presentation have been prepared in accordance with NI 43-101 and such de fi nitions di ff er from the de fi nitions in U.S. Securities and Exchange Commission ("SEC") Industry Guide 7. Under SEC Industry Guide 7 standards, a " fi nal" or "bankable" feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash fl ow analysis to designate reserves and the primary environmental analysis or report must be fi led with the appropriate governmental authority. Mineral resources are not mineral reserves and do not have demonstrated economic viability. We advise investors that while those terms are recognized and required by Canadian regulations, the SEC does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves as de fi ned in the SEC's Guide 7. In addition, "inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. It cannot be assumed that all or any part of mineral deposits in any of the above categories will ever be upgraded to Guide 7 compliant reserves. Accordingly, disclosure in this presentation and in the technical reports referred to in this presentation may not be comparable to information from U.S. companies subject to the reporting and disclosure requirements of the SEC. 2

MIDW MIDWAY GOLD OPPORTUNITY Y GOLD OPPORTUNITY erm Gold Production è è Expansion from Cash Flow Near-T Near-Term Gold Production Expansion from Cash Flow Veteran Nevada Management Team Nevada = Stable Mining Jurisdiction Strong Cash Position Two Near-Term Producing Properties Simple, Low Cost Projects Strong Partnership with Barrick Gold 3

THE MIDW THE MIDWAY TEAM Y TEAM Ken Brunk - Chairman, President, and CEO Tom Williams - VP Environmental A ff airs • +40 years of proven experience • +32 years environmental planning and permitting experience at Homestake, SRK, • Managed development of over 25 mines Golder, and Walsh Environmental • Former Senior Vice President at Newmont • Won independent awards for reclamation of • Executive positions at Romarco, Harrison Western, gold mining projects Bateman Engineering, Unimin, and Owens-Illinois Fritz Schaudies – CFO Roger Gross – VP Nevada Operations • +35 years fi nancial leadership experience in • +30 years mine engineering and mine mining and real estate management experience in Nevada and internationally • Formerly with Newmont, Echo Bay Mines, Arch • Formerly with American Colloid, Newmont, and Mineral, Morrison Knudsen, and Consolidation Coal Company (now Consol Energy) Freeport McMoran Rick Moritz - Senior VP of Operations Grant Shelton- Director of Projects • +30 years experience in process engineering, • +40 years mine engineering and construction mine management, and on-site construction/ management experience on over 24 projects, commissioning for 6 mines national and international • Formerly with Royal Gold, Bateman Engineering, • Served as project manager for Climax Nerco Minerals, Falcon Exploration, and molybdenum re-start - $700 mm construction Gustavson Associates project Bill Neal - VP Geological Services • +30 years exploration geology + 240 YEARS IN MINING + 240 YEARS IN MINING • Former senior geologist for Battle Mountain Gold and VP Exploration for Hanover Gold THIS IS EXPERIENCE THIS IS EXPERIENCE • Instrumental in four of Midway's Spring Valley discoveries 4

MUL MUL TIPLE ADV TIPLE ADVANCED ST ANCED STAGE AGE NEV NEVADA GOLD PROJECTS ADA GOLD PROJECTS ALL PROJECTS HAVE INFRASTRUCTURE NEARBY ALL PROJECTS HA VE INFRASTRUCTURE NEARBY Communities Paved Highways Spring Valley Grid Power Ely Pan Communications Gold Rock Excellent Water Conditions Mining-Experienced Labor Pool Infrastructure decreases capital requirements and lowers operating costs. 5

PAN – MIDWAY’S 1 st st MINE PA MINE PROJECT A PROJECT ATTRIBUTES TTRIBUTES RESERVES & RESOURCES SUMMARY RESERVES & RESOURCES SUMMARY Simple, Low Cost Project Resources (1) Tonnes Grade Contained (‘000s) (g/t) (‘000s oz) Open Pit/Heap Leach 36,920 0.49 579 Measured Low Capex to Build Indicated 43,118 0.40 551 Starts at Surface = Low Strip (1.8:1) 80,037 0.44 1,130 M&I 60% of all Tons are Down Hill Haul 3,928 0.36 45 Inferred Short Haul Distances Oxide Ore – Simple Processing Reserves (2) Tonnes Grade Contained 45 Day Leach Cycle (‘000s) (g/t) (‘000s oz) No De-Watering of Pit Required Proven 25,245 0.60 487 Targeting Production in 2014 Probable 23,067 0.51 377 48,311 0.56 864 P&P P&P Reserves are included in the M&I Resources (1) Resources as per Independent NI 43-101 Updated Resource Technical Report by Gustavson Associates, LLC (October, 2011). Assumes cuto ff grade of 0.14 g/t (2) Reserves as per Independent NI 43-101 compliant Feasibility Study by Gustavson Associates, LLC (November, 2011). Assumes gold price of US$1,200/oz and cuto ff 6 grade of 0.27 g/t (South Pan) and 0.21 g/t (North Pan)