X0306 4 2014-04-01 0 0001319009 Midway Gold Corp MDW 0001272935 HALE MARTIN M JR 570 LEXINGTON AVENUE, 49TH FLOOR NEW YORK NY 10022 1 0 1 1 See Remarks Common Shares, no par value (the "Common Shares") 2014-04-01 4 A 0 1121046 A 13114283 I See footnote The Common Shares reported herein were issued to (i) HCP-MID, LLC, a Delaware limited liability company ("HCP-MID"), (ii) EREF-MID II, LLC, a Delaware limited liability company ("EREF-MID II"), and (iii) INV-MID, LLC, a Delaware limited liability company ("INV-MID"), as a dividend payment on the Series A Preferred Shares of the Issuer held by each of them and were approved in advance by the Issuer's board of directors in the manner prescribed by Rule 16b-3(d). HFM is the manager of INV-MID, but as manager does not have voting or investment power over any securities held by INV-MID or issuable upon conversion or exercise of any securities held by INV-MID. The Common Shares reported herein are held by Hale Capital Partners, LP, a Delaware limited partnership ("HCP"), HCP-MID, EREF-MID, LLC, a Delaware limited liability company ("EREF-MID"), EREF-MID II and INV-MID. Martin M. Hale, Jr. ("MH") is the Chief Executive Officer of HCP, the sole member of HCP-MID. MH is also (i) the sole owner and managing member of Hale Fund Partners, LLC, a Delaware limited liability company ("HFP"), the general partner of HCP and (ii) the sole owner and Chief Executive Officer of Hale Fund Management, LLC, a Delaware limited liability company ("HFM"). HFM is (i) the manager and an equity holder of INV-MID, (ii) the general partner of Hale Capital Management, LP ("HCM"), the manager of HCP and (iii) the manager of each of EREF-MID and EREF MID II. Each of HCP, HCP-MID, EREF-MID EREF-MID II, INV-MID, MH, HFP, HFM and HCM disclaims beneficial ownership of the securities reported herein, except to the extent of his or its pecuniary interest therein. MH serves as a director on the board of directors of the Issuer. Accordingly, HCP, HCP-MID, EREF-MID, EREF-MID II, INV-MID, HFP, HFM and HCM may be deemed to be directors by deputization. /s/ Martin M. Hale, Jr. 2014-04-02