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Abstract
Commenting on the proposed acquisition, William Sheriff, Golden Predator's President and CEO stated: "The business combination with Midway will result in a talent pool and property portfolio that places Golden Predator in an elite category of precious and strategic metals exploration and development companies. With ongoing and focused strategic activities including the pending acquisition of Fury Explorations Ltd., and refurbishment of our Springer mill scheduled for completion later this year, Golden Predator is taking the steps needed to move into the development phase. On a combined basis with Midway and Fury, we will add significant National Instrument 43-101, compliant gold and silver ounces to the company's credit. The Springer and [Taylor] mill refurbishments and enhancement of the Midway epithermal bonanza project, will position us to proceed quickly to the pre-feasibility and feasibility stages, followed by development decisions. At current gold prices, the timing could not be better for Golden Predator and Midway Gold to combine their businesses."
Golden Predator will have the right to appoint four members to the board of directors of the resulting company, and Midway will have the right to retain three directors of which one will be William M. Sheriff, a current director of both Midway and Golden Predator. In addition, the employees of both Midway and Golden Predator will be offered continuing positions with the resulting company, subject to review. William M. Sheriff will be the CEO and Chairman of the Board, Steve Vanry is expected to become the company's President following a successful completion of the previously announced business combination with Fury Explorations Ltd. [Alan Branham] will serve as the President of the company's Midway Gold US subsidiary as well as a Vice President of Golden Predator Mines (US).Christine Thomson will continue as the company's Corporate Secretary and Larry Yau will be the company's CFO.
This communication is being made in respect of the proposed acquisition transaction involving and Golden Predator and Midway Gold. In connection with the proposed transaction, it is anticipated that Midway may file with the U.S. Securities and Exchange Commission ("SEC") a registration statement on Form S-4 and each of Midway Gold and Golden Predator will mail a proxy statement/prospectus to its stockholders, and each will be filing other documents regarding the proposed transaction with the SEC as well. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to Midway Gold's and Golden Predator's stockholders. Stockholders will be able to obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about Midway Gold and Golden Predator, without charge, at the SEC's Internet site (http://www.sec.gov) and in Canada at www.sedar.com. Copies of the proxy statement/prospectus and the filings with the SEC or Canadian regulators that may be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to Midway Gold at Unit 1 - 15782 Marine Drive, White Rock, British Columbia, Canada, V4B 1E6, Attention: Chief Financial Officer, or to Golden Predator at Suite 1470, 701 West Georgia Street, Vancouver, British Columbia, V7Y 1C6, Attention: Chief Executive Officer.