VANCOUVER, British Columbia--(BUSINESS WIRE)--
Miranda Gold Corp. ("Miranda") (MAD.V) and Prism Resources Inc.
(“Prism”) (PRS-H.V) are pleased to announce that further to the
press release dated April 2, 2014, the agreement with Prism is now
effective and Prism issued Miranda 200,000 common shares, and reimbursed
Miranda US$90,000 that were paid by Miranda to the underlying
leaseholder. Prism will be obligated to fund exploration related
expenditures of US$4,000,000 to earn a 51% interest and through
additional funding can earn an additional 19% for a total interest of
70%.
Miranda and Prism are developing a minimum $100,000 budget work program
for the Cerro Oro project, Colombia that will consist of a combination
of mapping, rock chip and soil sampling, trenching and possibly an IP
(induced polarization) geophysical survey. Miranda will act as operator
during the initial work program. Prism will additionally fund a NI
43-101 report that will be written by an independent Qualified Person.
The NI 43-101 compliant technical report will recommend a drill program
based on targets generated by Miranda during the exploration program.
Cerro Oro covers approximately 1,100 hectares and lies within the
resource-rich Middle Cauca Belt in the Caldas department approximately
120 km south of Medellin. Cerro Oro appears to be one of a cluster of
large northeast trending epithermal gold systems that includes Marmato
which lies 14 km to the northeast. This trend of epithermal deposits is
located between Solvista’s Caramanta deposit to the north and Seafield
and Batero’s Quinchia deposits to the south. Cerro Oro as an epithermal
low-sulfidation gold system provides the potential for higher grades
than the typical low-grade porphyries seen in the Cauca Belt. Miranda is
excited to explore this area with Prism.
About Miranda
Miranda Gold Corp. is a gold exploration company active in Nevada 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 relationships with Agnico Eagle
Mines Ltd., Montezuma Mines Inc., and Red Eagle Mining Corporation.
About Prism
Prism Resources Inc. is a junior exploration corporation listed on the
NEX board of the TSX Venture Exchange. Its focus is on earning its
interest in the Cerro Oro Project with a view to reactivate to the TSX
Venture Exchange.
ON BEHALF OF THE BOARDS OF DIRECTORS OF BOTH MIRANDA AND PRISM
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For more information related to Miranda: Joe Hebert,
Executive Vice President
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775-738-1877
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www.mirandagold.com
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For more information related to Prism contact:
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Robert (Bob) Baxter
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Prism Resources Inc.
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+1-778-928-1864
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Email: bbaxter@prismresourcesinc.com
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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.