Drilling Begins on Miranda Gold's Big Blue Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) announces that
drilling has started at Big Blue, a sediment-hosted gold project in
Lander County, Nevada. Miranda′s exploration funding partner, Ramelius
Resources Ltd. ('Ramelius') (ASX:RMS), plans to drill up to three holes
for a total of 3,600 ft (1,097 m). This is Miranda′s first drill
campaign of the 2011 season.

The area to be tested with this first phase of drilling contains soils
with gold values from non-detectable to a high of 0.025 oz Au/t (0.850 g
Au/t) and rocks with gold values from non-detectable to a high of 1.70
oz Au/t (58.2 g Au/t). Historic drilling from three holes in the area
intersected 20 ft (6.1 m) of 0.007 oz Au/t (0.240 g Au/t), 5 ft (1.5 m)
of 0.032 oz Au/t (1.10 g Au/t), and 10 ft (3 m) of 0.071 oz Au/t (2.44 g
Au/t). Inferred northerly trending controls to mineralization are
indicated by local disrupted bedding, brecciation, oxidation, quartz
veins, silicification, and structurally controlled jasperoid.

Three west or northwest-directed 1200-ft (366 m) angle holes are planned
to be drilled on an approximately 1,250 ft (380 m) long cross section
through the target area. These holes will collar in chert and siliceous
sediments in the upper plate of the Roberts Mountain Thrust and test
more favorable lower-plate carbonates and inferred northerly faults at
depth in the vicinity of the surface and historic drill-indicated gold
anomalies. Previous drilling has not tested below a depth of 500 ft (152
m); lower-plate carbonates are projected to be encountered at a depth of
from 175 to 375 ft (53 to 114 m) in the planned holes.

The Big Blue Project consists of 255 unpatented lode mining claims
covering 8.2 sq mi (21.2 sq km) located in the Toiyabe Range, 13 miles
(21 km) north of Austin, Nevada. The project is on the south margin of
the Callaghan Window, a large area exposing Cambrian- through
Silurian-age lower-plate carbonate rocks in the footwall of the Roberts
Mountains Thrust. The lower-plate sequence includes the Roberts
Mountains, Hanson Creek and Pogonip Formations, of which all are known
to be favorable hosts for large, sediment-hosted gold systems in Nevada.

A target analogue for the Big Blue project is the Northumberland deposit
in the Toquima Range 39 miles (63 km) south of Austin, Nevada. Both the
Northumberland deposit and Miranda's Big Blue project are within
lower-plate windows showing alteration and gold mineralization, but are
off the well-defined Carlin and Cortez Trends. The Northumberland and
the Callaghan windows are both associated with similar district-scale
stream-sediment anomalies.

The data disclosed in this press release have been reviewed and verified
by President & CEO Ken Cunningham, P.G., 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) Inc., Montezuma Mines Inc., Navaho Gold Ltd.,
NuLegacy Corporation, Piedmont Mining Company Inc., Ramelius Resources
Ltd., and Red Eagle Mining Corporation.

For more information visit the Company′s web site at www.mirandagold.com
or contact Joe Hebert, Vice President Exploration 1-775-738-1877.

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.

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 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, 1-775-738-1877

Vice President
Exploration