Plan of Operation Permit Received at Miranda′s Red Canyon Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD)is
pleased to announce that its exploration funding partner at Red Canyon,
Montezuma Mines Inc. ('Montezuma'), a wholly owned subsidiary of CMQ
Resources Inc. (TSX-V:NV), has received approval of the Red Canyon
Exploration Plan of Operations ('PoO?) from the Bureau of Land
Management in Nevada. Now that the permit and bond have been approved,
the 2011 drill program can proceed and Montezuma plans to begin drilling
at Red Canyon in August. This Phase I reverse circulation drill campaign
will consist of approximately 6,000 - 8,000 ft (1,830 ? 2,440 m) in
seven holes.

Phase I drilling will focus on a 1,660-ft long southeast-trending fault
corridor in a portion of the Ice target zone. The northwest end of this
corridor is at core hole MR09-05C and the southeast end at reverse
circulation hole MR10-01. This corridor has not previously been drill
tested.

The current drill program will follow up on Montezuma′s eight hole,
11,260 ft (3,433 m) reverse-circulation drill program conducted in 2010
which included vertical hole MR10-01.

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.

Project Details

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

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 Gold 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 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