Drilling Resumes at Miranda′s Red Canyon Gold Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) is pleased to
announce its exploration funding partner at Red Canyon, Montezuma Mines
Inc. ('Montezuma'), a wholly owned subsidiary of CMQ Resources Inc.
(TSX-V:NV), has resumed drilling at Red Canyon. Montezuma plans to drill
four to five reverse circulation ('RC?) holes in the Wall target area
for a total of approximately 3,800 ft (1,160 m). Montezuma forecasts
that on completion of the drill program Montezuma will have completed
the $4M in qualifying exploration expenditures. Upon spending $4M,
Montezuma can elect to either enter into a joint venture with Miranda or
continue spending and produce a Feasibility Study at which time they
will have earned a 70% interest in Red Canyon. If Montezuma elects not
to solely fund a feasibility study the joint venture will be Montezuma
60% and Miranda 40%.

Red Canyon contains nine exploration targets of which the Wall target
area will be the focus of Montezuma's 2013 drill campaign. At Wall, rock
chip samples with up to 0.070 oz Au/ton (2.4 g Au/t) coincide with a
geophysically inferred fault-bounded horst block that extends 5,000 ft
(1,500 m) from Wall northwest through the Gexa and the Ice target areas.
Montezuma's 2012 vertical hole MR12-06 was collared in the Wall target
on the west side of the horst block. Although Montezuma terminated
MR12-06 at 695 ft (211.8 m) without it having intersected the
horst-bounding fault or the favorable lower-plate (of the Roberts
Mountains Thrust) carbonate-host stratigraphy, the hole did intersect
three zones with anomalous gold greater than 0.02 g Au/t. Montezuma's
2013 program will be directed to provide drill tests of the intersection
of the horst-bounding faults with the favorable carbonate stratigraphy
beneath the Roberts Mountains Thrust.

Since 2009, Montezuma performed geologic mapping, revised stratigraphic
interpretations, completed soil and rock-chip geochemical surveys, and
contracted CSAMT resistivity, ground magnetic, and gravity geophysical
surveys. Through 2012, Montezuma drilled a total of 32 RC and three core
holes for a total of 33,042 ft (10,071 m). Montezuma conducts its
drilling under the Bureau of Land Management-approved Red Canyon Plan of
Operations that permits up to 125 acres (50 hectares) of total
disturbance.

Project Details

The Red Canyon project is in Eureka County, Nevada, includes 254
unpatented lode mining claims (7.9 sq mi / 20.6 sq km) on the Battle
Mountain-Eureka Trend, and adjoins U.S. Gold's Tonkin Springs property
to the west. The project covers an erosional 'window' through the upper
plate of the Roberts Mountains Thrust that exposes hydrothermally
altered and brecciated lower-plate carbonate rocks that are age
equivalent to the rocks hosting Barrick Gold's Cortez Hills gold deposit.

All data disclosed in this press release have been reviewed by Vice
President of Exploration, Joe Hebert, a 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,
Montezuma Mines Inc., Prism Resources Inc., 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 www.mirandagold.com
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.

Miranda Gold Corp.

Joe Hebert, 775-738-1877

Vice President,
Exploration