Fairmount CA

President Barack Obama and South
Korean President Lee Myung-bak were dining at a Korean barbecue
restaurant in Northern Virginia when aides interrupted with news
that had been more than four years in the making: the US
Congress had approved a trade deal between the two nations.

The leaders celebrated with a toast: iced tea for Obama and
a Korean beer for Lee, in town for a state visit, according to
an Obama administration official who spoke with the president
about the meal. They talked about how their deal could serve as
a model for future trade agreements.

The accord passed Oct. 12 as part of a broader package of
trade deals with Panama and Colombia. Lawmakers also voted to
renew assistance for US workers displaced by outsourcing and
exporting of jobs, a demand of Democrats and some Republicans.

“We said we believed in trade, but that we had to have a
new approach, and that we couldn’t continue along the same path
that many Americans thought was failing them,” Ron Kirk, the
US Trade Representative, said in an interview.

For the US, the Korea trade deal is the biggest since the
North American Free Trade Agreement in 1994 and a chance to
strengthen the US foothold in Asia. Korean officials have told
the Obama administration that the Korean national assembly could
give its final approval in the next few weeks and the deal may
be fully implemented in the first half of 2012, the official
said.

Burdened by Unemployment

For Obama, 50, whose re-election prospects are burdened by
9.1 percent unemployment, his push for the trade deals over
opposition from many fellow Democrats and the AFL-CIO, the
biggest US labor federation, reflects an evolution since his
criticism of the accords as a candidate in 2008. It is also a
calculation that voters will reward him for trying to create
jobs rather than punish him for opening the US to more foreign
competition.

Obama used the trade agreements in his weekly radio and
internet address to try and put pressure on lawmakers to move
forward on his $447 billion jobs plan. The bipartisan agreement
in Congress to pass the trade deals underscores Congress’s
“lack of action” on the jobs proposal, Obama said.

In the address, taped Oct. 14 while the president and Lee
were at a General Motors plant in Lake Orion, Michigan, Obama
said House Republicans are “picking partisan ideological
fights” over issues such as environmental protection.

Republican House Speaker John Boehner’s office said that,
while the trade deals will help boost economic growth, they were
delayed for months by the Obama administration.

Working Together

“This is an example of where the two parties worked
together to get something done on jobs,” Brendan Buck, a
Boehner spokesman, said in an e-mail. “We just wish it happened
sooner because we ended up in the same place the speaker
proposed eight months ago.”

The Korea deal may increase US exports as much as $10.9
billion in the first year it’s in full effect, according to the
US International Trade Commission. It may increase imports
from South Korea by $6.9 billion, the commission said. The
accord with Colombia would raise exports as much as $1.1 billion
a year. The US Chamber of Commerce said the deal will prevent
loss of 380,000 jobs.

Kirk told lawmakers after Obama took office in 2009 that
the South Korea accord was unacceptable and vowed to renegotiate
it. Obama spent the next two years working to win a scaled-back
reduction on auto tariffs with South Korea that won support from
the United Auto Workers union, Ford Motor Co. (F) and Michigan
Democratic Representative Sander Levin.

Republican Control

When Republicans won control of the US House in November,
Boehner and Senate Minority Leader Mitch McConnell of Kentucky
said trade is an area where they could work with the Obama
administration to boost the economy, according to a senior
congressional aide.

Kirk in March told lawmakers the administration was ready
to work with Congress on the Korea accord. Senators Orrin Hatch,
a Utah Republican, and Max Baucus, a Montana Democrat, urged
Kirk to focus on improving the accord with Colombia, which had
been blocked by former Democratic Speaker Nancy Pelosi, and on
Panama so all three could advance together.

By May, the Obama administration had won assurances on
labor rights for Colombian workers and a tax-information
exchange agreement from Panama that it said made the trade
agreements worthy of congressional consideration. Then, on May
16, Gene Sperling, director of the National Economic Council,
announced that the deals wouldn’t be submitted to Congress until
lawmakers agreed to renew the worker-aid program.

Political Stalemate

A two-month stalemate took hold, with the Obama
administration pushing lawmakers for a commitment to renew the
program while Hatch and other Republicans opposed it as
unaffordable and ineffective. The administration sought to
attach the worker protections to the Korea deal, later backing
away from that approach.

For Boehner, the delay seemed unnecessary and became
frustrating, according to a congressional aide. The logjam was
broken on Aug. 3, a day after Congress ended a separate impasse
on raising the federal borrowing limit.

Lawmakers agreed when they returned from recess to vote on
the trade agreements and scaled-back worker benefits negotiated
between the Obama administration, Baucus and Republican
Representative Dave Camp.

“The nature of the legislative process was somebody has to
go first,” William Reinsch, president of the National Foreign
Trade Council and a Commerce Department official in the Clinton
administration, said in an interview. “At the end trust
prevailed.”

Visiting Washington

On Sept. 13, the Obama administration announced that South
Korea’s Lee would be visiting Washington this week. His trip
helped spur Obama to submit the accords on Oct. 3 and push for
final passage the day before a state dinner, according to the
congressional aide.

The Korea trade accord was approved in the House 278-151,
with 219 Republicans and 59 Democrats voting for it. Similarly,
there were more Republicans than Democrats backing the other two
treaties. The Korea accord passed 83-15 in the Senate. Panama
was approved 77-22 and Colombia was the most controversial,
passing 66-33 over the opposition of 30 Democrats.

“There were a lot of hands in this victory,” Buck said.
“It starts with President Bush’s vision on trade. And while it
could have been done a lot quicker, some credit goes to
President Obama for not folding to his left flank.”

Workers Concerns

Thea Lee, deputy chief of staff at the AFL-CIO, a frequent
Democratic ally, said that while the autoworkers supported the
Korea deal, union worker’s concerns that trade agreements might
cost them jobs may hurt Obama’s re-election prospects.

She said Obama “gave up on some of the concerns he had
raised during the campaign” and the displaced worker assistance
is “not an adequate tradeoff” for 159,000 jobs the group
estimates could be lost to foreign competition.

“It’s something people will take into account when they
decide” how actively to campaign, who to endorse and whom to
vote for, she said. “A lot depends on what else he does between
now and the election. The president has a lot of challenges in
front of him and a lot of opportunities to do the right thing.”

To contact the reporters on this story:
Margaret Talev in Washington at
mtalev@bloomberg.net;
Eric Martin in Washington at
emartin21@bloomberg.net

To contact the editor responsible for this story:
Mark Silva at
msilva34@bloomberg.net

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It wasnt exactly a secret the cornerback-rich Philadelphia Eagles have been open to trading Asante Samuel. Now comes the backlash.

The Eagles told teams Samuel was available leading up to the NFL trade deadline, nearly three months after team president Joe Banner discussed how the team was actively entertaining trade offers for the four-time Pro Bowl cornerback in August.

Lindab bags SEK80m construction deal in Russia

Oct 07, 2011 (M2 EQUITYBITES via COMTEX) –
7 October 2011 – Swedish ventilation and construction systems provider Lindab AB (sto:LIAB) said today it had won a contract with a value of SEK80m to build a four-storey building in the Russian city of Barnaul in Siberia.

The name of the customer was not mentioned.

The building will be a combined business and leisure centre with an overall area of 100,000 sq metres.

Construction is due to be completed in 2012.

(EUR1 = SEK9.1)

Comments on this story may be sent to info@m2.com

(C)1994-2011 M2 COMMUNICATIONS http://www.m2.com

If you loved the first season of NBC’s Love In The Wild, you are in luck,  as the network announced that the dating show will be returning for a second season. Read on for details

NBC announced that their new dating series, Love In The Wild will return for a second season next year. Paul Telegdy, President, of Alternative and Late Night Programming at NBC made the announcement earlier.

“The success of the relationships formed on the first season of this series is a testament to the unique format of this show,” said Telegdy. “We look forward to an even more compelling season as the series will return with new format twists and a new set of contestants who will conquer the wild or not to find love.”

EUSA is thrilled that NBC is continuing its commitment to ‘Love in the Wild,’” said David Goldberg, Chairman of Endemol North America. “Season two will present a great new cast and a number of surprises that will only further the advance the distinctive format of the show.”

Last season’s winners Samantha Woods and Mike Spiro, as well as runners-up Heather Pond and Miles Haefner, are still currently in romantic relationships. Woods and Spiro recently returned from their trip around the world where they explored the romantic locations within France, Italy, Croatia and Australia.

The summer 2011 run of Love in the Wild averaged a 1.8 rating, 5 share in adults 18-49 and 5.5 million viewers overall. In adults 18-49, “Love in the Wild” finished #1 or tied for #1 in its time period among ABC, CBS and NBC with seven of eight telecasts.

“Love in the Wild” puts relationships to the ultimate test with exhilarating quests that push participants to the limit, both physically and emotionally. Single men and single women, all looking for love, will experience a romantic adventure unlike anything they could have ever imagined. These singles have tried it all speed-dating, blind-dating, Internet dating and now, they will journey to a tropical paradise to see if they can find that special someone they’ve been looking for.

During elimination all of the couples will come together to reveal whether a connection has been formed with their current partner or if they would like to switch and get to know someone else. At the end of every episode, two heartbroken singles are sent home. The series culminates with just one couple left standing. That couple will have completed the adventure of a lifetime and found the one thing they’ve been searching for Love in the Wild.

Want more? Follow our tweets on Twitter and like us on Facebook! For other great Reality TV News, please feel free to check out SirLinksALot: Love in The Wild and then come and discuss the show on our Reality TV message boards.

Visit our sister site SheKnows for more breaking news about celebrities and entertainment!

Photo Credit: NBC

Topics: Love In The Wild, NBC Reality TV Shows |

laquo; Kim Kardashian and Kris Humphries Deny Divorce Rumors With Twitter | Home | Caroline Manzo Reveals Why The Real Housewives Of New Jersey Reunion Was Miserable raquo;

Clinton Pushes Afghan Border Security, Trade in Central Asia
October 23, 2011, 4:48 AM EDT

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• Boehner Says Russia’s WTO Approval Depends on Georgia Border
• Karzai Says Afghanistan Would Help Pakistan Against U.S. Attack
• Clinton Pressing Pakistan for Joint Covert Action on Insurgents
• Secretary of State Clinton Supports Probe of Qaddafi’s Death
• U.S. Pullout May Leave Iraq Struggling as Iran Benefits

By Indira A.R. Lakshmanan

(Updates with visit to GM plant from 21st paragraph.)

Oct. 23 (Bloomberg) — Secretary of State Hillary Clinton pressed Afghanistan’s neighbors to halt the flow of militants and drugs across their borders and to support regional trade and a peace process to end a conflict tying up 100,000 U.S. forces.

“Instead of Afghanistan being the crossroads for terrorism and insurgency,” Clinton said yesterday in the Tajik capital of Dushanbe, “we want Afghanistan to be at the crossroads of economic opportunities going north and south and east and west, which is why it’s so critical to more fully integrate the economies of the countries in this region in South and Central Asia.”

Clinton urged Tajik President Emomali Rahmon and Uzbek President Islam Karimov yesterday to ensure that insurgents from Afghanistan and Pakistan don’t establish sanctuaries in their countries, according to a State Department official who spoke on condition of anonymity since the talks were private.

Clinton’s visit to Uzbekistan and Tajikistan this weekend also is a chance to bolster relations with two nations along a northern supply route used for about half of all non-lethal provisions for American troops in Afghanistan.

Strained Relations

While the overland supply route from Pakistan to Afghanistan is cheaper, the Pentagon is boosting traffic through the rail, air and truck routes of what is referred to as the Northern Distribution Network as an alternative at a time of strained relations between the Obama administration and the government in Islamabad.

On an earlier stop in Islamabad on Oct. 20 and 21, Clinton, along with Central Intelligence Agency Director David Petraeus and General Martin Dempsey, chairman of the Joint Chiefs of Staff, urged Pakistan to move against extremists who are attacking U.S. forces in Afghanistan.

In Kabul on Oct. 20, Clinton stood alongside President Hamid Karzai and warned that Pakistan will pay “a very big price” if it fails to crack down on militants staging cross- border attacks against U.S. forces in Afghanistan.

The U.S. has sought closer ties with Uzbekistan over the past decade to win support for the war in Afghanistan and to press for a crackdown on Uzbek militants linked to al-Qaeda. Uzbekistan hosted a U.S. airbase that was a supply route to Afghanistan when the war began, then shut down the base in 2005 after the Bush administration condemned Karimov’s attacks on protesters that year that rights groups said claimed hundreds of lives.

Supply Route

Clinton met with Karimov yesterday and expressed appreciation for Uzbekistan’s support for the supply route for U.S. troops and for building a rail line to connect northern Afghanistan to its Central Asian neighbors.

Last month, President Barack Obama spoke with Karimov about possibly expanding the northern supply route for U.S. forces in Afghanistan. Congress is reviewing a law that restricts military aid to Uzbekistan because of its poor human rights record.

Tajikistan allows overflights for U.S. aircraft supplying the NATO-led coalition in Afghanistan. The Tajik government has also granted permission for ground transit routes.

Clinton said she was visiting Uzbek leader Karimov, who has wielded autocratic power for 22 years, because “if you have no contact, you will have no influence, and other countries will fill that vacuum who do not care about human rights.”

‘Balancing Act’

Clinton called it “a balancing act” to engage with authoritarian governments while pressing them to respect human rights.

In Clinton’s talks with Karimov, she urged him to respect political and religious freedom and end forced labor in the cotton industry. He assured her he wanted to make progress on liberalization and democracy to leave a legacy for his children and grandchildren, a State Department official who participated in the meeting told reporters traveling with Clinton.

Clinton also raised U.S. concerns about religious and media freedom in Tajikistan.

“We encouraged the Tajik government to take concrete steps” toward greater civil and religious freedom, she said at a press conference after meeting with Rahmon and Foreign Minister Hamrokhon Zarifi.

Religious Expression

Restrictions on religious expression, such as Tajik rules against Muslims wearing veils or beards, “could build up discontent,” she said.

“We don’t want to do anything to breed extremism,” she said, adding that she urged the Tajik leaders to rethink “any restrictions going forward, because we think they could increase sympathy for extremist views.”

Speaking at a gathering of Tajik civic leaders, women and youth, Clinton said Afghanistan’s neighbors have suffered economically from regional instability caused by the war. She promoted the concept of a “New Silk Road” linking Central Asian nations as a way to boost economies and living standards throughout the region.

Clinton urged both the Tajik and Uzbek leaders to support transit connections to promote regional trade in raw materials, energy and agricultural products as part of the vision for economic integration of South and Central Asia. The Tajik and Uzbek leaders have poor relations and few links between their countries.

GM Visit

Today in Tashkent, Clinton visited a new General Motors Co. plant that next month will begin commercial production of more than 200,000 engines annually, officials said. GM has a 97 percent market share of cars sold in Uzbekistan, the highest of any GM market, the company said.

Clinton highlighted the joint venture with state-owned UzAvtosanoat as the kind of collaboration that creates jobs in both countries. GM Uzbekistan employs 6,600 people and imported $34 million of American parts and supplies in the past two years, officials said.

“GM’s presence in Uzbekistan also adds to our efforts to build closer economic connections between the countries of South and Central Asia,” Clinton told workers at the plant. “We are seeking to build a New Silk Road that integrates markets from Mumbai to Karachi to Kabul, and on to Tashkent and Astana and beyond.”

The original Silk Road was more than 4,000 miles (6,400 kilometers) of trade routes crossing Asia and into southern Europe and northern Africa. Based on China’s silk industry, the commerce it enabled also helped the growth of civilizations from Egypt to Rome.

–With assistance from and Andrew MacAskill in New Delhi and Viola Gienger in Washington. Editors: Ann Hughey, Christian Thompson.

To contact the reporter on this story: Indira Lakshmanan in Tashkent, Uzbekistan at ilakshmanan@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva34@bloomberg.net

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READER DISCUSSION

In St. Petersburg, Carlos Ramos will stop paying the tariff around 15 percent each time his underground surveying crews bring a specialized pipe into Panama for work on the multibillion-dollar canal expansion.

Fort Pierce grapefruit grower Mike Garavaglia predicts increasing sales to South Koreans with a taste for his tart fruit. The reason: A 30 percent tariff will be phased out over the next five years.

Florida is among the states most likely to get a boost from free trade agreements with South Korea, Colombia and Panama that President Barack Obama signed into law Friday. The deal was one of the few major measures approved in Congress recently with support from Republicans and Democrats.

The agreements will create 20,000 new jobs in the state and generate more than $1.5 billion in international trade opportunities, according to the Florida Chamber of Commerce.

Nationally, the deal with South Korea will carry the biggest punch. South Korea is the worlds 15th-largest economy and the new trade agreement has the potential to create as many as 280,000 American jobs, according to a recent estimate by the US International Trade Commission.

But the Latin America agreements hold the most promise short-term for Florida. Colombia is the states second largest trading partner, with more than $7.5 billion in imports and exports last year. Only Brazil was bigger, with nearly $16 billion.

Miami and Fort Lauderdale have deep ties with Latin America and would reap the vast majority of increased trade with Colombia and Panama. South Florida airports and seaports offer regular connections for passengers and cargo.

Miami and Port Everglades (in Fort Lauderdale) have the established ocean services, so theyll get the immediate benefit, said Tampa port director Richard Wainio. We may not see big numbers through Tampa. Two vessels connect Tampa and Panama, one weekly and another monthly. None sail directly to Colombia.

The agreements would eventually eliminate duties on products the three countries trade with the United States. The deals drew fire in the United States and abroad.

South Korean farmers marched in Seoul this month to protest the lifting of agricultural tariffs. Some Democrats and US labor unions argued the deals would help some companies by lowering the cost of their exports. But a flood of cheaper products imported into the United States could lead to layoffs of American workers, they said.

The nonpartisan Economic Strategy Institute points out that South Korea is a major exporter of textiles, steel and semiconductors.

The truth is, I think this is going to cost us jobs, Clyde Prestowitz, the institutes founder and a former Reagan administration official, told the Washington Post.

You can see how various American companies can benefit, he said. Its hard to see how the United States benefits.

One industry that expects a quick boost is South Floridas huge fresh flower business. Flowers entered the country duty-free from Colombia until February when an Andean trade preferences agreement expired. Since then, importers had to pay duties up to 6.8 percent.

Cannon, the Tampa importer, does most of his business selling flowers grown in Colombia and Ecuador to US wholesalers. Ecuador slapped on a tariff equal to Colombias, he said.

Cannon was able to pass on duty charges to wholesalers. But he also uses some of the blooms for Grymes Cannon Designs, his business that sells fancy wedding and special event arrangements. Cannon had to raise prices.

The wholesaler felt it, the retailer felt it, everyone in the industry felt it, Cannon said.

Renewal of the Andean trade preferences agreement was attached to the free trade deal. It stipulated that the tariff will end 15 days after Obama signs the free trade agreement, said Christine Boldt, executive vice president of the Association of Floral Importers of Florida.

Putting the overall agreements into effect usually takes 12 to 18 months, she said. One reason: The deals have been changed since they were negotiated and must return to legislatures of the three countries for ratification.

Information from the Miami Herald and Washington Post was used in this report. Steve Huettel can be reached at huettel@sptimes.com or (813) 226-3384.

Romantic relationships in college are the ultimate sacrifice. Although being in love is a truly incredible and beautiful experience, it goes hand-in-hand with sacrificing time, energy and money. As college students these things are scarce.

Is it possible to have an emotional, fulfilling, romantic bond with a lack of intimacy and commitment? Furthermore, how could such a bond exist? Inmatesforyou.com has a solution for those seeking the most perfect dysfunctional relationship.

Inmatesforyou.com is a website where people can contact inmates who have a profile on the website. Although, dating is not the entire goal of the website, it’s often aluded to in personal profiles as well in the about section of the website which says “Some may even look to you as more than a friend and possible partner in a relationship. Either way there is someone out there for all of us.” The website is home to male and female inmates who are looking to correspond with people outside of the penitentiary. “The inmates within this site are looking for friends, pen pals, and even that love of their life,” says the welcoming statement on the site’s homepage. Non-inmates can access the site and search for an inmate based on age, sex, release date and a relationship blossoms. A classmate sparked my interest in this bizarre, unconventional relationship when she commented that her current romance of seven months began on the site.

The initial reaction to hearing about a relationship between a young college student and a convict is one of shock and confusion. Thousands of eligible men and women roam campus daily who must be at least slightly more suitable for a romantic relationship than an inmate.

Apparently, there is something devilishly appealing about inmates and it does not just have to do with physical attractiveness and “bad ass” charisma. For example, Scott Peterson has received massive amounts of love-mail, even marriage proposals during his stay on death row. Even serial killer Ted Bundy was in a “committed relationship” before being put to death. Dating an inmate is not as uncommon as it seems. According to Sharenator.com, more than 1,500 users a day visit inmatesforyou.com, and there are several similar sites dedicated to meeting inmates online. The high number of users tells me people are interested in such a different kind of relationship. Some may argue that there is no such thing as romance without intimacy. Others may define intimacy as an emotional connection rather than physical touch. Regardless of the relationship, romance can only be subjectively defined. Perhaps those in relationships with inmates feel an intimate satisfaction with a person behind bars that they have not found elsewhere.

Romantic relations with convicts do not include the petty drama of a “normal” couple. The relationship’s basis can never be confused for one based solely on lust or physical dependence because so little physical contact can occur. Additionally, time spent together (during visits) is always cherished and never distracted considering how limited it must be. People who seek love with inmates want an emotional connection without all the hassle, explaining the high amount of usage of the bizarre inmate dating sites. Regardless, relationships with inmates can only go so far because eventually release dates will arrive and the relationship will be forced to become one with customary intimacy.

Even if it begins behind bars, relationships are meant to have futures. “Dating” an inmate may give people a sense of comfort and meet emotional needs, however it cannot be compared to a relationship that involves true sacrifice and a committed bond in the day-to-day context.

– Caroline Nachazel is a junior studying journalism and communication. She can be reached at letters@wildcat.arizona.edu.

3 days ago 

NEW YORK (AP) — The Denver owner of a hedge fund pleaded guilty Friday to securities fraud, admitting making up to $2.5 million by trading on inside information about a pending acquisition that he got from a friend.

Drew “Bo” Brownstein, 35, entered the plea in U.S. District Court in Manhattan, agreeing to serve up to four years in prison when he is sentenced on Dec. 20.

The hedge fund portfolio manager admitted buying shares of Mariner Energy Inc. in April 2008 after learning from a longtime friend that it was going to be acquired by Apache Corp.

The Securities and Exchange Commission said Brownstein made more than $5 million in illegal profits by trading in his personal accounts, the accounts of relatives and for two of his hedge funds ahead of the oil and gas company’s $3.9 billion takeover by Apache in April 2010. The up to $2.5 million Brownstein admitted to in court was the amount of money related to the criminal charge but an SEC civil case against him cited the higher figure as being the actual profits.

The owner of Big 5 Asset Management LLC choked up as he apologized to family, colleagues, investors and friends.

“I accept full responsibility for what I have done,” he told Judge Robert Patterson. “I can only say these actions run contrary to the principles and values I’ve tried to run my life by.”

He was freed on $500,000 bail.

Sanjay Wadhwa, deputy chief of the Securities and Exchange Commission’s enforcement division’s market abuse unit, said the case was “further evidence of the pervasive nature of insider trading by hedge funds, and a sobering reminder that such conduct is not limited to the immediate vicinity of Wall Street but is taking place in cities around the country.”

U.S. Attorney Preet Bharara called Brownstein “the latest example of a privileged professional who thought he could make a quick and easy profit by trading on his access to confidential information.”

FBI Assistant Director Janice Fedarcyk called it a “textbook example of the kind of conduct for which the law imposes a heavy price.”

Authorities said Brownstein acted on inside information he received from Drew Peterson, another Denver investment adviser, who got tipped about the acquisition from his father, Clayton Peterson, who sat on Mariner’s board. The father and son pleaded guilty in August. The father received two years’ probation while the son is awaiting sentencing in January.

Copyright © 2011 The Associated Press. All rights reserved.

DENVER, Oct 06, 2011 (BUSINESS WIRE) –
Midway Gold Corp. (“Midway” or the “Company”) (mdw:TSX-V)(mdw:NYSE-AMEX)
confirms that due to market conditions, the Company has no current
intention of issuing new common shares under the ATM stock issuance
program it previously announced September 23, 2011.

“We take our responsibility to increase shareholder value and
minimize dilution seriously,” said Dan Wolfus, Chairman and CEO. “We
will continue to monitor market conditions and our share price and to
review all financing options including the ATM program and implement
those that are appropriate for the prevailing market conditions.”

The Company has sufficient cash to proceed with its planned activities
through late 2012, including permitting of its Pan Project and
advancement of its other Nevada properties.

The Company has received term sheets for the debt portion of the capital
required to place the Pan Project into production. The Company is
negotiating with potential lenders to finance up to 60% of the total
capital required and will provide further guidance on completion of the
Pan Feasibility Study, expected to be released in mid-November.

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 increasing shareholder value and minimizing shareholder
dilution, risks related to the Company’s ability to negotiate and
execute definitive agreements with respect to the debt portion of the
capital required to place the Pan Project into production, risks related
to the Company’s ability to place the Pan Project or any other of the
Company’s projects into production, risks related to the timing and
completion of the Company’s intended work plans for its 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.

The Company has filed a registration statement (including a prospectus)
with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus in that registration
statement and other documents the Company has filed with the SEC for
more complete information about the Company and this offering. You may
obtain these documents for free from the SEC Web site at
www.sec.gov .
Alternatively, the agent participating in the offering will arrange to
send you the prospectus if you request it from McNicoll, Lewis & Vlak
LLC, 1251 Avenue of the Americas, 41st Floor, New York, NY 10020,
Attention: Randy Billhardt, Telephone: (212) 580-5881.

To view this release as a web page, please click on the following link:

http://www.usetdas.com/pr/midway10062011.htm

SOURCE: Midway Gold Corp.

Midway Gold Corp.
R.J. Smith, 877-475-3642 (toll-free)
Vice President of Administration

Copyright Business Wire 2011

The addition of sensors and intelligence into everyday consumer devices, growing application stores, next-generation analytics, big data, in-memory computing, extreme low-energy servers and cloud computing are also trends that will make their way into the mainstream during 2012 and beyond.