Drilling Intersects 0.131 oz Au/ton At Miranda Gold's Angel Wing Project

VANCOUVER, BC - Miranda Gold Corp. reported that Ramelius Resources Ltd. it's 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. intercept being 0.131 oz Au/ton. 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.

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. 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. 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.

The Angel Wing project consists of 87 unpatented lode claims covering 2.8 sq mi 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. long and up to 3,000 ft. wide. High gold-value rock-chip samples with 0.29 to 2.7 oz Au/ton 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. 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.