Muirhead won his first race since December 2007 when getting off the mark on his chasing bow in the Dobbins Food Hall Beginners Steeplechase under Paul Carberry at Punchestown.
Those that invested in Noel Meade's charge at 2/5 would have been close to tearing up their tickets as Coolavanny Gaffer looked like he had the initiative before the final fence but Muirhead pulled out just enough on the run-in to prevail by a neck.
Meade said: "He jumped brilliant and that's what the whole thing is about. He got a bit tired and I'd suppose you'd have expected him to win easier.
"I didn't want to wind him up but at the same time I wanted to get him out before the heavy ground. I think what he wants is a real good gallop and a stamina test. I'd say three miles would be alright though not on heavy ground.
"He is not a big horse but he schooled well from the start. He'll go for a winners race now in a few weeks time."
