Miranda Gold Reports 2011 Drill Results from Ester Dome Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) is pleased to
announce the results from the first drill program completed at its Ester
Dome project near Fairbanks, Alaska. Agnico-Eagle (USA) Limited
('Agnico?), a wholly owned subsidiary of Agnico-Eagle Mines Limited
(TSX: AEM) and Miranda′s funding partner at Ester Dome completed six
core holes for a total of 4,224 ft (1,287 m) in the fourth quarter of
2011.

Ken Cunningham, CEO of Miranda commented 'The results of this initial
program met expectations and most importantly are encouraging enough for
Agnico to return for a second round of drilling in 2012.?

The program was designed as an initial test of an approximately 5,900 ft
long by 590 to 1,640 ft (1,800 m by 180 to 500 m) wide northwest
trending soil anomaly associated with a cluster of granitic bodies that
intrude meta-sedimentary schist and quartzite. Significant gold
mineralization of greater than 0.01 oz Au/t (0.343 g Au/t) was
encountered in four of the six holes drilled. Mineralization is related
to quartz sulfide veinlets and intense fracturing accompanied by iron
oxides and local quartz-sericite-pyrite alteration selvages.

Drill intercepts greater than 0.010 oz Au/t (0.343 g Au/t) and hole
orientations are provided in the following tables:

(True widths of mineralization cannot be determined at this time)

The most recent drilling on Ester Dome prior to Agnico was conducted by
Placer Dome Exploration in 1998 when 19.7 ft of 2.7 oz Au/t (6 m of 92.6
g Au/t) from 360 to 381 ft (110 to 116 m) and 10 ft of 0.513 oz Au/t (3m
of 17.6 g Au/t) from 673 to 683 ft (205 to 208 m) was intersected in two
holes. The latter intercept was in the last hole drilled by Placer Dome
and is within the south edge of the soil anomaly being explored by
Agnico. Holes 11ED01 and 11ED02 were 650 ft (200 m) offsets to these
Placer Dome holes, intersected low-grade mineralization and confirmed a
low-angle structural control to mineralization. Closer spaced holes may
be warranted in 2012.

Both Miranda and Agnico are sufficiently encouraged by the 2011 drilling
and Agnico has informed the Company of its intention to continue
exploration drilling in 2012.

Project Details

Ester Dome and the surrounding Fairbanks Mining District are considered
part of the Tintina Gold Province that extends from southwest Alaska
through the central Yukon and is reported to contain resources of
approximately 35 million ounces of gold. The Tintina belt is
characterized by variants of intrusive-related gold deposits. The Ester
Dome project consists of 181 Alaska state mining claims covering
approximately 13.8 sq. mi (35.7 sq. km) and is located 5 mi (8 km) from
Fairbanks, Alaska. The Fairbanks District has reportedly produced over
9.5 million ounces of alluvial gold. Over 3 million ounces of alluvial
gold were reported to have been mined on the flanks of Ester Dome and
the property covers the majority of the of the upland source area for
that production.

The geology of Ester Dome comprises a suite of meta-sedimentary schist
and quartzite separated by thrust faults and cut by igneous sills and
small stocks. The mineralization on the Ester Dome project is
prospective for both high-grade vein and shear-hosted gold deposits and
larger-tonnage bulk-minable intrusion-related-gold-deposits. Fairbanks
area gold deposits, such as Fort Knox (+6 million ounces) that is hosted
in an intrusive stock and characterized by sheeted quartz veins and
shears, as well as True North (1.3 million ounces) that is hosted in
complex imbricate shears with quartz veins in meta-sedimentary rocks,
provide target analogues for exploration at Ester Dome.

All data, disclosed in this press release, including sampling,
analytical and test data have been reviewed and verified by Vice
President of Exploration Joe Hebert, C.P.G., BSc. Geology and Qualified
Person as defined by National Instrument 43-101.

All drill samples were collected with a core drill using 5 ft (1.5 m) or
smaller sample intervals and following standard industry practice.
Samples were assayed by ALS Minerals of Sparks, Nevada. Gold results
were determined using standard fire assay techniques on a 30 gram sample
with an atomic absorption finish. QC/QA included the insertion of
numerous standards and blanks on a regular basis. Check assays were
performed by AHK Geochem Laboratory of Fairbanks, Alaska.

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 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.

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, 775-738-1877

Vice
President, Exploration

www.mirandagold.com