MIRANDA ACQUIRES TWO PROJECTS IN NEVADA'S WALKER LANE
Miranda Gold Corp. has recently acquired the Mustang and Kilby Flats projects in Walker Lane, Nevada.
These acquisitions were a direct result of an ongoing remote sensing and ground reconnaissance program designed to identify intermediate to high-sulfidation prospects by targeting strong alunite with kaolinite and illite alteration systems. Intermediate to high-sulfidation deposits have been the most robust gold discoveries in the Walker Lane and abundant alunite can be an indirect indicator for this style of gold deposit.
In conjunction with claim staking open ground, Miranda has acquired a 100% interest in Teslin River Resources Corp. ("Teslin") Mustang project located in Nye County, Nevada. Miranda has paid Teslin $40,000; delivered Teslin 300,000 shares of Teslin owned by Miranda and granted Teslin a 1% net smelter return royalty on the 72 claims acquired from Teslin. The Mustang property is 20 miles (32 km) south of Gabbs, and eight miles (12.8 km) southeast of the historic Paradise Peak Mine. Following staking open ground the project now totals 142 claims for approximately 2,900 acres. In 2011 Teslin drilled an eight-hole program on the property from which they reported: