2012 Phase I Drilling Intersects 0.131 oz Au/ton (4.49 g Au/t) At Miranda Gold′s Angel Wing Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) is pleased to
announce that Ramelius Resources Ltd. ('Ramelius?) (ASX:RMS), our
funding partner at Angel Wing, completed its 2012 Phase I five-hole
drill program and all analyses are complete. Ramelius drilled a total of
3,995 ft (1,217 m) of reverse circulation ('RC?) drilling. All holes
intersected gold at grades above 0.010 oz Au/ton (0.343 g Au/t) with the
highest 5 ft (1.5 m) intercept being 0.131 oz Au/ton (4.49 g Au/t).
Angel Wing is an epithermal vein and sediment-hosted gold project in
northeast Elko County, Nevada.

The five RC holes, all drilled by Boart Longyear Company with a
track-mounted drill, further tested the Da Vinci and Botticelli vein
systems as well as resistivity highs flanking these veins and a
donut-shaped high-low magnetic anomaly in an area of Tertiary rhyolite.
Significant gold and silver intersections are tabulated by target area
in the following table and are defined as those with gold grades of 0.01
oz Au/ton (0.343 g Au/t) or higher over intercepts of 5 ft (1.5 m) or
longer, or silver grades of 0.30 oz Ag/ton (10.29 g Ag/t) or higher.

Drill hole AW12-05, with a high gold value of 5 ft (1.5 m) of 0.131 oz
Au/ton (4.49 g Au/t), is one of the two best gold holes at Angel Wing.
It and historic hole DC-7 (50 ft of 0.048 oz Au/ton; 15.2 m of 1.643 g
Au/t) located about 1,400 ft (425 m) southeast of AW12-05, have gold
mineralization in decalcified and pervasively silicified limestone.

All drill samples were collected with an RC drill rig using 5 ft sample
intervals and following standard industry practice. QC/QA included the
insertion and continual monitoring of numerous standards and blanks on a
regular basis. ALS Global performed all sample preparation and
geochemical analyses.

Ramelius has begun a second phase drill program. The four-hole RC
program will total about 3,000 ft (900 m) of drilling and will explore
the extent of gold mineralization intersected in AW12-05, the northward
projection of the Da Vinci vein, and geochemical anomalies in the
Raphael target area approximately 4,000 ft (1,200 m) northwest of
AW12-05.

Angel Wing currently has seven gold target areas identified by geologic
mapping of quartz-calcite veins with distinctive 'angel wing' textures,
rock and soil geochemistry, and geophysics. To date, Ramelius has drill
tested six of the target areas.

Project Details

The Angel Wing project consists of 87 unpatented lode claims covering
2.8 sq mi (7.3 sq km.) in northeast Elko County, Nevada. Project area
stratigraphy from youngest to oldest is Tertiary felsic volcanic units,
Tertiary conglomerate, and limestone, probably late Paleozoic or
Triassic in age. Past work consisted of geologic mapping, soil and rock
sampling, a gravity survey, and RC drilling. Gold values from 0.1 to 94
g Au/t in rock chips occur in an area about 6,700 ft (2,042 m) long and
up to 3,000 ft (914 m) wide. High gold-value rock-chip samples with 0.29
to 2.7 oz Au/ton (10 to 94 g Au/t) occur in steeply dipping,
quartz-calcite-adularia veins within the limestone. Rock samples of
altered and quartz-calcite veinlet stockworked limestone and Tertiary
conglomerate contain up to 0.045 oz Au/ton (1.530 g Au/t). Historic
shallow vertical drilling targeted disseminated mineralization and
returned up to 0.048 oz Au/ton over 50 ft (1.643 g Au/t over 15.2 m) in
drill hole DC-7. Since 2010, Ramelius completed IP/Resistivity, ground
magnetic, and soil geochemical surveys, three core holes, and 22 RC
holes.

All data disclosed in this press release, including sampling, analytical
and test data, have been reviewed and verified by Vice President of
Exploration Joseph Hebert, 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) 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
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

www.mirandagold.com