Drilling Commences at Miranda Gold′s Red Hill Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) announces that
Miranda′s exploration funding partner NuLegacy Corporation ('NuLegacy?)
has begun drilling on Miranda′s Red Hill project in Eureka County,
Nevada. NuLegacy has permitted five holes and plans to drill up to 5,000
ft (1,524 m).

Three target areas will be tested including 1) a geophysical (Induced
Polarization) resistivity and conductivity high anomaly approximately
3,280 ft (1,000 m) long inferred to reflect Carlin-style alteration and
mineralization at a depth of 500 ft (152 m), 2) an area of anomalous
rocks and soils associated with jasperoid and low-level anomalous gold
in historic shallow drill holes, and 3) an area approximately 2,000 ft
by 4,000 ft (600 m by 1,200 m) with alteration and a gold and mercury
soil anomaly.

Project Details

Red Hill is a sediment-hosted gold project consisting of 79 lode claims
covering 2.6 sq mi (6.7 sq km) that is located 15 miles (24 km)
southeast of the 12 million ounce Cortez Hills gold deposit. The Red
Hill project occurs within a window of lower-plate limestone exposed
through chert and siliceous sediments of the upper-plate of the Roberts
Mountains Thrust. It is one of a series of windows and associated gold
deposits that define the Cortez Trend. The project covers an extensive
area of hydrothermal alteration occurring within fault zones in and
pervasively in lower-plate sediments.

In 2006 drill hole BRH-013 intersected 80 ft of 0.146 oz Au/t (24.4m of
4.987g Au/t) from 1,920 to 2,000 ft (585.4 to 609.8m), including 45 ft
of 0.237 oz Au/t (913.7m of 8.105g Au/t) from 1,920 to 1,965 ft (585.4
to 599.1m). Gold mineralization is hosted in silty carbonate rocks
associated with altered lamprophyre dikes and high levels of arsenic,
antimony, mercury and thallium. These features indicate a Carlin-style
gold system may be present at Red Hill.

The data disclosed in this press release have been reviewed and verified
by President & CEO Ken Cunningham, P.Geo, MSc. 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 Limited, Montezuma Mines Inc., Navaho Gold Pty Ltd.,
NuLegacy Corporation, Piedmont Mining Company 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 Fiona Grant, Manager, Investor Relations 1-877-689-4580.

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.

This news release may contain information about adjacent properties
on which we have no right to explore or mine. We advise U.S. investors
that the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned that
mineral deposits on adjacent properties are not indicative of mineral
deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated in
such statements.

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.

Fiona Grant, 1-877-689-4580

Manager,
Investor Relations

www.mirandagold.com