DRILLING RESUMES AT MIRANDA'S RED CANYON PROJECT

Miranda Gold Corp.'s exploration financing partner at Red Canyon, Montezuma Mines Inc., a wholly owned subsidiary of CMQ Resources Inc., has started its 2012 drill program at Red Canyon. Montezuma expects to test three target areas with a total of six to seven reverse circulation (RC) drill holes totaling about 9,300 feet (2835 m).

The target areas to be drill tested include the following:

Ice: Two holes will further test for mineralization encountered in 2011 RC hole MR11-01 that intersects 20 ft (6.1 m) of 0.205 oz Au/ton (7.025 g Au/t) from 110-130 ft (33.5-39.6 m).

The Hole: This target name derives from a pronounced controlled source audio-frequency magnetotelluric (CSAMT) resistivity low with approximate plan dimensions of 2,000 x 2,600 ft (610 x 790 m). Montezuma interprets the resistivity low as permissive for a fault-bounded decalcified and clay-altered gold mineralized pipe-like body. Up to three holes to about 2,300 ft (700 m) deep will test the target.