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Re: News Releases - Wednesday, April 04, 2007
Miranda Gold Corp. Joint Venture Updates: Redlich, Iron Point and
Coal Canyon
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Redlich
Miranda Gold Corp. (TSX-V: MAD) ("Miranda") is pleased to announce that
Newcrest Resources Inc. ("Newcrest") has started drilling on Miranda's
Redlich project in the Walker Lane mineral belt, Esmeralda County,
Nevada. Newcrest also staked an additional 52 lode claims to cover
lands north and east of the current claim block. The Redlich property
now consists of 171 contiguous lode claims that cover 5.5 square miles
(14.2sq km).
This phase of drilling will consist of two inclined core holes that
will produce oriented core, totaling 2,500 ft (762m). Both holes will
be cored from surface and are designed to gather strike, dip, geometry,
and rock quality data from mineralized zones and the surrounding
country rock. One core hole will twin drill hole R-73, a hole that
intersected 55 ft of 0.046 oz Au/ton and 10 ft of 1.037 oz Au/ton
(16.8m of 1.575 g Au/t and 3.1m of 35.514 g Au/t). The core will
confirm the geometry and alteration assemblages of these mineralized
zones, and provide a high-quality sample for assay. The second hole
will test for deeper extensions to mineralized gold-bearing bonanza
veins and stockwork-hosted gold mineralization near R-73.
In total, Newcrest has completed 37,564 ft (11,450m) of drilling in 61
drill holes at Redlich. Drilling has focused on a northwest-trending
fault corridor hosting high-grade gold in low-sulfidation quartz veins
and thick, continuous zones of disseminated / quartz-stockwork-hosted
gold surrounding the high grade veins. Results from these drilling
campaigns verify the presence of both styles of gold mineralization. A
three-dimensional model outlines a 1,000 ft east-west (305m) by 1,200
ft north-south (365m) mineralized envelope grading >0.01 oz Au/ton
(>0.343 g Au/t) surrounding a higher-grade "vein" zone. This gold
mineralization remains open to the west, southeast and south.
Iron Point
Miranda Gold geologists, on behalf of our Joint Venture partner White
Bear Resources Inc. ("White Bear"), have initiated geologic mapping, a
gravity survey and the collection of soil samples over the project
area. These data will be compiled with previous exploration results to
identify opportunities worthy of follow-up drilling.
The Iron Point project consists of 178 unpatented lode mining claims
that cover 5.8 square miles (14.9 sq km). Miranda holds title to 150 of
the claims and has a leasehold interest on an additional 28 claims. The
project is favorably located at the intersection of the Battle
Mountain-Eureka trend with the Getchell Trend. Major producing mines
within a 25-mile radius of the project represent over 30 million ounces
of mined and remaining gold reserves.
Coal Canyon
Miranda has been notified by Golden Aria Corp. ("Golden Aria") that
effective March 23, 2007 the Venture Agreement between the two
companies at Coal Canyon has been terminated. Miranda wishes to thank
Golden Aria for its contributions to the project.
The Coal Canyon property consists of 64 unpatented lode claims in the
center of the Cortez Trend, approximately three miles south of the
Cortez Joint Venture's ET Blue project and adjoining the northeast side
of US Gold's Tonkin Springs property.
Miranda is pleased to regain 100% control of the Coal Canyon project
and believes that quality exploration targets remain untested on the
property. Recent drilling has added to Miranda's understanding of
exploration opportunities and the depth to favorable host rocks. The
Company is optimistic that a new partner will be found to advance
exploration opportunities.
The data disclosed in this press release have been reviewed and
verified by Company Senior Geologist Steven Koehler, P. Geo., BSc.
Geology and Qualified Person as defined by National Instrument 43-101.
Corporate Profile
Miranda Gold Corp. is a gold exploration company active in Nevada and
whose emphasis is on generating gold exploration projects within the
Battle Mountain-Eureka and Cortez Trends. 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
Newcrest Resources Inc., Barrick Gold Exploration Inc., the Cortez
Joint Venture, the Buckhorn Joint Venture, Romarco Minerals Inc., and
White Bear Resources Inc.
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 Fiona Grant, Manager, Investor Relations
1-877-689-4580.
The TSX Venture Exchange neither agrees nor disagrees with the
information contained herein.
This news release may contain information about adjacent properties on
which we have no right to explore or mine. 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 may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs, geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated
in such statements.
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Copyright (c) 2007 MIRANDA GOLD CORP. (MAD) All rights reserved. For
more information visit our website at http://www.mirandagold.com/ or
send mailto:fiona@mirandagold.com
Message sent on Wed Apr 4, 2007 at 8:45:44 AM Pacific Time
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