Miranda Reports Drill Results at Pavo Real Project in Colombia

Miranda Gold Corp. ('Miranda') (TSX-V: MAD) is pleased
to announce drill results from its Pavo Real project in Colombia.
Miranda′s funding partner Red Eagle Mining Corporation ('Red Eagle?)
(TSX-V: RD) drilled 11,150 ft (3,400 m) in nine holes in this initial
program.

Drilling was focused on determining structural controls to
mineralization, with targets including quartz veins and veinlet systems
in sedimentary host rocks and hydrothermal breccias. Ongoing exploration
work and these drill results will be used to design a follow-up drill
program.

The following table summarizes significant intercepts. Significant
intercepts are values of 0.010 oz Au/t (0.343 g Au/t) or better. True
widths are estimated to be 90% of the drill interval and vertical depths
are estimated to be 70% of the interval depths.

Miranda and Red Eagle are encouraged by the numerous anomalous
intercepts. This initial phase of drilling partially tested targets near
the La Cruzada adits, the Quebrada Virgen adit and a breccia on the west
side of the property. Yet to be drill tested is a target on the
southeast portion of the property where sandstone and limestone are in
contact with intrusive rocks. Red Eagle anticipates testing this area
for sediment-hosted disseminated mineralization once a drill permit is
issued.

All drill samples were collected with a diamond drill rig using
approximately 0.5 to 2 m sample intervals and following standard
industry practice. Acme Analytical Laboratories prepped samples in
Medellin, Colombia and assayed samples in Santiago, Chile. Gold values
were determined by fire assay of a 30 g charge with an AA finish, or if
over 10 g Au/t were re-assayed and completed with gravimetric finish.
QC/QA included the insertion and continual monitoring of numerous
standards and blanks on a regular basis, along with check assays
conducted at alternate accredited laboratories.

Project Details

Pavo Real lies within the department of Tolima 12.4 mi (20 km) south of
the city of Ibague and 27.9 mi (45 km) southeast of AngloGold Ashanti′s
La Colosa project. Pavo Real is a large project that covers
approximately 48.9 square km. Robust surface gold values are seen in
sedimentary rocks, dikes, veins and breccias. Strong radiometric
anomalies inferred as potassic alteration zones coincide with mapped
structures, historic workings and samples with anomalous gold. Of 1,040
samples taken on the property, 540 rock samples assayed over 0.003 oz
Au/t (0.1 g Au/t). Highlights of surface sampling include 135 ft of
0.043 oz Au/t (41 m of 1.47 g Au/t).

All data, disclosed in this press release, including analytical and test
data, have been reviewed and verified by Joseph Hebert, Vice President
of Exploration, C.P.G., B.Sc. Geology and Qualified Person as defined by
National Instrument 43-101.

Corporate Profile

Miranda Gold Corp. is a gold exploration company active in Nevada,
Alaska, and Colombia and whose emphasis is on generating gold
exploration projects with world-class discovery potential. Miranda
performs its own grass roots exploration and then employs a joint
venture business model on its projects in order to maximize exposure to
discovery while minimizing exploration risk. Miranda has ongoing
partnerships with Agnico-Eagle (USA) Inc., Montezuma Mines Inc., Navaho
Gold Ltd., NuLegacy Corporation, Ramelius Resources Ltd., and Red Eagle
Mining Corporation.

ON BEHALF OF THE BOARD

'Kenneth Cunningham'

Kenneth Cunningham

President and CEO

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.

U.S. investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties. We
advise U.S. investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC.

This news release contains forward-looking statements that are based
on the Company's current expectations and estimates. Forward-looking
statements are frequently characterized by words such as 'plan',
'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate',
'suggest', 'indicate' and other similar words or statements that certain
events or conditions 'may' or 'will' occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans to continue
to be refined; possible variations in ore grade or recovery rates;
accidents, labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals or financing; and
fluctuations in metal prices. There may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable securities
laws, the Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements are
not guarantees of future performance and accordingly undue reliance
should not be put on such statements due to the inherent uncertainty
therein.

Miranda Gold Corp.

Joe Hebert, 775-738-1877

Vice
President, Exploration