2012 Drilling Starts on Miranda′s Ester Dome Project, Alaska

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD)is
pleased to announce that Agnico-Eagle (USA) Limited ('Agnico?), a wholly
owned subsidiary of Agnico-Eagle Mines Limited (TSX: AEM) has started
its 2012 drilling program on Miranda′s Ester Dome project located in the
Fairbanks mining district of Alaska.

Agnico, Miranda′s funding partner at Ester Dome, plans to drill
approximately 5,900 ft (1,800 m) in nine holes. Drilling is designed to
continue testing a large northwest-trending soil anomaly associated with
a cluster of granitic bodies intruding schist and quartzite, and to
offset significant mineralization drilled in late 2011.

The following table summarizes significant (defined as those gold grades
of 0.010 oz Au/t (0.343 g Au/t) or higher over intervals of 5 ft (1.5 m)
or longer) previously reported for 2011 drilling.

Drilling will test internal northeast-trending geochemical highs within
the broader soil anomaly, which may possibly represent controls to
higher-grade mineralization, and also magnetic anomalies associated with
anomalous gold values and mapped intrusives.

Gold mineralization drilled in 2011 is associated with intense
fracturing accompanied with iron oxides and quartz-sulfide veinlets.
Locally mineralization is controlled by low-angle faults. Historic
drilling by Placer Dome Exploration in 1998 demonstrated that these
low-angle faults can control high-grade mineralization when 19.7 ft of
2.7 oz Au/t (6 m of 92.6 g Au/t) and 10 ft of 0.513 oz Au/t (3 m of 17.6
g Au/t) was intersected in two holes within the south edge of the soil
anomaly being tested by Agnico.

Project Detail

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 analytical and test
data, have been reviewed and verified by Joseph Hebert, Vice President
of Exploration, C.P.G., B.Sc. 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 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
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 near-by
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