Thursday, December 20, 2012 NEWS RELEASE

Miranda Gold Closes $5,000,000 Non-Brokered Private Placement

Vancouver, BC, Canada - December 20, 2012 - Miranda Gold Corp. ("Miranda") (TSX-V: MAD) has closed a non-brokered private placement with aggregate gross proceeds of $5,000,000 from the sale of 20,000,000 units at a price of $0.25 per unit (a "Unit"). Each Unit comprised one common share and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional common share of Miranda at a price of $0.375 for the first two years and $0.50 thereafter until December 19, 2017. If the daily volume weighted average trading price of the common shares of Miranda is at least $0.50 per share for 20 consecutive trading days in the period commencing April 20, 2013 and up December 19, 2014, or at least $0.75 per share thereafter, Miranda will have the right, exercisable within five trading days thereof, to accelerate the expiry date of the Warrants to the date which is 30 days after notice is given to the holders of the warrants of the accelerated expiry date and a news release to that effect is given. The common shares issued, and any common shares issued pursuant to the exercise of Warrants prior to April 20, 2013 will be restricted from trading until April 20, 2013.