Miranda Gold Announces Exploration Results from Pavo Real

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) is pleased to report
on exploration activities conducted by its funding partner, Red Eagle
Mining Corporation ('Red Eagle?), at Pavo Real, Colombia. The Pavo Real
project lies within the department of Tolima, approximately 20 km south
of the city of Ibague and 45 km southeast of AngloGold Ashanti′s La
Colosa discovery.

Since completing the helicopter airborne magnetic and radiometric
surveys, Red Eagle has been actively mapping and sampling at Pavo Real
and acquiring additional concessions, applications and leases that are
now part of the Pavo Real project. Results of this work have increased
the size of the project area and identified four new areas that show
copper-gold skarn mineralization to the northeast of the main Pavo Real
project area and evidence of disseminated sedimentary-hosted gold
targets in the center of the main Pavo Real project area.

Land Acquisition

Pavo Real project consisted of several mining concessions and
applications that totaled 25.9 sq km. New applications in and around
Pavo Real now total 17.9 sq km and new third-party tenements between Red
Eagle and various land owners, including the El Sapo mine, total 5.0 sq
km. The Pavo Real project concessions, as defined by a 5-km Area of
Interest between Miranda and Red Eagle, now covers 48.9 sq km.

To view a location map of Pavo Real visit

http://www.mirandagold.com/new/Image.asp?i=maps/PavoReal/Figure7.jpg&id=442034.

Sampling Results

A total of 567 rock chip and channel samples have been collected by both
the Miranda and the Red Eagle exploration teams. This work has
identified four new areas that are strongly anomalous in gold or gold
and copper.

To the northeast, at the El Sapo mine, five rock chip samples yielded
assays between 0.11 g Au/t and 26.6 g Au/t. Silver values ranged from
0.42 g Ag/t to 4,250 g Ag/t and copper values ranged from 0.43% to 13%.
Bismuth, lead and zinc were also elevated suggesting mineralization is
part of a skarn system. Further to the northeast, near the Santa Barbara
mine area, 29 rock samples returned gold assays ranging from 0.01 g Au/t
to 37.2 g Au/t. Silver and copper values were also elevated.

The areas to the northeast of the original Pavo Real project, where
intrusive rocks are in contact with limestone, show evidence of a
copper-gold skarn system. The main Pavo Real project area contains
limestone, sandstone, and conglomerate sequences, locally cut by
intrusives and intrusive breccia. Most mapped units appear to host some
amount of disseminated or fracture and vein-controlled gold
mineralization.

On the original Pavo Real concessions, sampling has identified two new
anomalous areas of gold mineralization. The first area is approximately
600 m south of an area that up until recently was being mined by illegal
miners. The area being mined had been off-limits to Miranda and Red
Eagle while procedures were implemented to gain access and have the
miners removed. The miners were working an area of anomalous gold in
soils that has dimensions of 700 m long by 100 to 500 m wide. The soils
anomaly contains approximately 30 known adits with significant sampled
gold grades, The new zone, referred to as Quebrada Corosal, defined by
155 rock samples, is 340 m long and 137 m wide. Assays vary from below
detection levels to a high of 45.7 g Au/t and average 1.29 g Au/t. The
ground between this new anomaly and the area where the illegal miners
were working has not yet been sampled.

The fourth area of anomalous gold is in the Quebrada Virgen drainage
where 38 rock samples range from below detection limits to 9.80 g Au/t.
Additional work is needed to see if these three target areas tie
together.

Geologists from Red Eagle continue to map and sample at Pavo Real and
expect to soon be able to access the original target area that up until
recently was occupied by illegal miners. A major drill program is
planned once this work is completed and Red Eagle completes their
Initial Public Offering.

The data disclosed in this press release have been reviewed and verified
by President & CEO Ken Cunningham, PG, 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 Gold 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.

Miranda Gold Corp.

Fiona Grant, 1-877-689-4580

Manager,
Investor Relations