Miranda Gold Comments on Barrick′s Discovery in the Cortez Trend of Nevada

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD), in response to
inquiries, wishes to update shareholders on the recent announcement by
Barrick Gold Corp. ('Barrick?) regarding their discovery in the Cortez
trend.

On September 7, 2011, Barrick Gold Corp. ('Barrick?) announced that it
had made two significant gold discoveries, known as Red Hill and
Goldrush, on its Cortez property in Nevada. An inferred resource of 3.5
million oz/ton gold from 28,756,602 tons grading 0.123 ounces per ton
gold has been defined by Barrick at Red Hill and mineralization remains
open in all directions (see Barrick′s website for details). Miranda′s
Red Hill project is also in the Cortez area of Nevada but it is a
distinct and separate property just south of the Barrick property of the
same name (see map). Barrick was Miranda′s funding partner at Miranda′s
Red Hill project from 2004-2008 and completed several holes, including
BRH-013 which intersected 45ft of 0.237 oz/ton gold. Today, Miranda′s
Red Hill property is being explored by funding partner, NuLegacy Gold
Corporation (TSX.V-NUG) ('NuLegacy?).

While the Barrick announcement does not directly impact Miranda′s
property it is viewed as a very positive development in the Cortez
trend. According to Ken Cunningham, Miranda′s President and CEO, 'the
Barrick discovery validates Miranda′s expertise in the Cortez area and
highlights the value of our projects in the area which include our Red
Hill and Coal Canyon properties.? Miranda′s Vice President of
Exploration, Joe Hebert, prior to his employment with Miranda, was in
charge of generative exploration for the Cortez Joint Venture (Placer
Dome and Kennecott). Using predictive geologic models he projected
structural trends from the Pipeline deposit and made a discovery that
was called ET Blue. Based on Barrick′s press release, Miranda believes
that ET Blue is either on the fringe of or is part of Barrick′s Goldrush
discovery. Miranda views the Cortez area as a cluster of multi-million
ounce deposits that occur in a predictable structural setting and at
predictable periodicities. The deposits in the Cortez trend occur in a
series of en-echelon clusters with a general southeast trend. The north
end of the string of deposits includes Pipeline and South Pipeline (20M
oz), followed by the Cortez and Cortez Hills deposits (14M oz) and now
the Red Hill and Goldrush deposits (+3.5M oz). The next known gold
occurrence to the southeast, along trend is Miranda′s Red Hill property.

Miranda congratulates Barrick′s exploration team and is pleased that its
current partner, NuLegacy, is planning geophysical and geochemical test
work over the portion of Miranda′s Red Hill property where BHR-013
intersected gold mineralization. A deep penetration induced polarization
survey as well as a soil-gas mercury survey will be completed this fall
in order to guide deep drilling in the area around BRH-13. This deeper
drilling is scheduled for 2012. NuLegacy also intends to drill 2-3
additional holes outside of the BHR-13 target area this fall. Assay
results are pending on NuLegacy′s recently completed reverse circulation
drill hole at Coal Canyon.

To view the map associated with this release, please click on the
following link:

http://www.usetdas.com/pr/mirandagoldmap09122011.jpg

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, 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.

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, Vice President, Exploration

775-738-1877