Miranda Gold Finalizes Exploration Alliance in Colombia

Miranda Gold Corp. ('Miranda') (TSX-V: MAD) is pleased
to announce that Miranda and its wholly owned Colombian subsidiary have
signed the strategic alliance agreement that was originally announced on
July 25, 2012 for precious metal exploration in Colombia. Miranda and
our partner will share funding 30:70, respectively, in generative
exploration expenditures with Miranda as operator. The alliance is for a
period of three years and is renewable thereafter by mutual consent. The
exploration program budget will be an aggregate amount of no less than
US$1,100,000 per year with the first year beginning immediately.

Miranda has been building predictive models for Colombian exploration
and determining where best to employ alliance funds. The alliance will
focus its initial efforts on porphyry-related gold-systems in the
middle-Cauca gold belt and intrusive related gold systems that are
analogous to Gramalote in the Antioquia Batholith. In addition, low and
high-sulfidation, epithermal gold-silver systems will also be targeted.

The Colombian government has announced that the government imposed
moratorium for new mining applications will be lifted on July 3, 2013.
In expectation of the moratorium being lifted, Miranda has been
compiling a list of properties that it will immediately apply for when
the time comes.

Initially, properties will be acquired by Miranda and alliance funding
will be used to advance projects through exploration methods including
stream sediment, outcrop and soil sampling as well as mapping surveys.
Once the project meets certain criteria, and Miranda feels that the
property is ready to be drill tested a report will be presented to our
partner and they will have a 60-day period during which to choose to
take the property from Miranda′s portfolio and declare it a 'Designated
Property?, or reject the project, or require more work be done by the
alliance to increase the quality of the targets before considering it to
be a Designated Property. Once selected, Designated Properties will be
subject to a stand-alone earn-in agreement whereby our partner can earn
increasing levels of interest in that Designated Property by sole
funding a series of qualified exploration and feasibility study
expenditures over a designated time frame to secure up to a 70% interest
in the Designated Property at which time a joint venture will be formed
and Miranda would be responsible for its proportionate share of joint
venture expenditures.

Projects that do not meet the criteria as Designated Properties will
remain in Miranda′s control. Miranda can then choose to advance the
project at its own expense, seek another company to partner with or drop
the property.

Ken Cunningham, President and CEO of Miranda Gold states 'this is a
great opportunity for the partners and leverages Miranda′s cumulative
three-years of experience in Colombia while staying true to our project
generator and joint venture business model. With the likely lifting of
the moratorium, we fully expect to deliver several quality properties to
the alliance. We are also pleased that as projects are advanced we will
have a partner ready to take them on as Designated Properties to fund
the programs to the feasibility stage before Miranda′s proportionate
funding will begin.?

Data disclosed in this press release, 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., 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.

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