Drilling Intersects 0.413 oz Au/ton (14.15 g Au/t) at Miranda Gold′s Angel Wing Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) is pleased to
announce favorable results from a second phase of drilling at Angel
Wing, an epithermal vein and sediment-hosted gold project in northeast
Nevada. Ramelius Resources Ltd. ('Ramelius?) (ASX:RMS), our funding
partner at Angel Wing, completed a 3,190 ft (957 m) four-hole drill
program (AW12-06 to 09) that followed up an intersection of 30 ft at
0.030 oz Au/t (19.8 m at 1.02 g Au/t ) in AW12-05 (see August 7, 2012
news release). Three of the four holes intersected significant gold,
with a high of 5 ft at 0.413 oz Au/t (1.5 m at 14.15 g Au/t). This is
the highest grade drill intercept encountered to date on the project.

AW12-06 was a re-drill of a 2011 hole that failed to penetrate
post-mineralization rhyolite tuff and AW12-08 was designed to pierce a
magnetically inferred rhyolite breccia pipe 330 ft (85 m) north of the
intercept in AW12-05 and below the tuff. The mineralized intercepts in
AW12-06 and AW12-08 represent lateral dispersion of gold within highly
permeable Tertiary conglomerate and decalcified Paleozoic limestone both
of which occur below the rhyolite tuff. The mineralization at the
conglomerate-limestone interface remains open to the north, west, east
and for 1,150 ft (350 m) to the south.

As a result of these encouraging drill assays, Ramelius is planning
additional drilling as soon as permits are received. The program will
further test gold mineralization in the vicinity of the intrusive
breccia. This area is now referred to as the Grass Hollow anomaly.

Significant gold intersections are tabulated in the following table and
are defined as those with gold grades of 0.01 oz Au/ton (0.343 g Au/t)
or higher over intercepts of 5 ft (1.5 m) or longer.

AW12-07 was drilled about 3,900 ft (1200 m) northeast of AW12-05 on a
gold-silver arsenic-antimony-thallium soil anomaly and did not intersect
significant gold. AW12-09 was collared about 1,400 ft (425 m) southeast
of AW12-05 to test the northern projection of the Da Vinci vein.

Ramelius sees Australian gold deposit target analogies from the results
to date and interprets the mineralization as indicative of the higher
levels of an intrusive breccia-related gold system. Potential is also
recognized for additional high-grade, low-sulfidation veins similar to
the DaVinci veins located about 2,300 ft (700 m) to the south.

All drill samples were collected with an RC drill rig using 5 ft (1.5 m)
sample intervals and following standard industry practice. QC/QA
included the insertion and continual monitoring of numerous standards
and blanks on a regular basis. All holes were drilled by Boart Longyear
Company with a track-mounted drill. ALS Global performed all analyses.

Project Details

The Angel Wing project consists of 87 unpatented lode claims covering
2.8 sq mi (7.3 sq km.) in northeast Elko County, Nevada. Project area
stratigraphy from youngest to oldest is a) Tertiary felsic volcanic
units, b) Tertiary conglomerate, and c) limestone, probably late
Paleozoic or Triassic in age. Past work consisted of geologic mapping,
soil and rock sampling, a gravity survey, and RC drilling. Gold values
from 0.1 to 94 g Au/t in rock chips occur in an area about 6,700 ft
(2,042 m) long and up to 3,000 ft (914 m) wide. High gold value
rock-chip samples with 0.29 to 2.7 oz Au/ton (10 to 94 g Au/t) occur in
steeply dipping, quartz-calcite-adularia veins within the limestone.
Rock samples of altered and quartz-calcite veinlet stockworked limestone
and Tertiary conglomerate contain up to 0.045 oz Au/ton (1.530 g Au/t).
Historic shallow vertical drilling targeted disseminated mineralization
and returned up to 0.048 oz Au/ton over 50 ft (1.643 g Au/t over 15.2 m)
in drill hole DC-7.

Since 2010, Ramelius completed IP/Resistivity, ground magnetic, and soil
geochemical surveys, three core holes, and 26 RC holes. Angel Wing
currently has seven gold target areas identified by geologic mapping of
quartz-calcite veins with distinctive 'angel wing' textures, rock and
soil geochemistry, and geophysics. To date, Ramelius has drill-tested
six of the target areas with a total of 29 holes aggregating 14,941 ft
(4,554 m).

All data disclosed in this press release, including sampling, analytical
and test data, have been reviewed and verified by Vice President of
Exploration Joseph Hebert, 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

For more information visit the Company′s web site at or contact Joe Hebert, Vice President, Exploration at 775-738-1877.

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.