Miranda Gold Corp.

Miranda Gold Corp.

March 04, 2005 15:19 ET

Agnico-Eagle Signs Letter of Intent to Joint Venture Miranda's Cono and BPV Projects


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MIRANDA GOLD CORP.

TSX VENTURE SYMBOL: MAD
OTC Bulletin Board SYMBOL: MRDDF
BERLIN, FRANKFURT SYMBOL: MRG

MARCH 4, 2005 - 15:19 ET

Agnico-Eagle Signs Letter of Intent to Joint Venture
Miranda's Cono and BPV Projects

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 4, 2005) - Miranda
Gold Corp. (TSX VENTURE:MAD)(OTCBB:MRDDF)(FWB:MRG)(BERLIN:MRG) is
pleased to announce that it has signed a letter of intent to joint
venture its Cono and BPV projects located in Eureka County, Nevada, with
Agnico-Eagle (USA) Ltd. ("Agnico").

The BPV and CONO projects, located in the Cortez Trend, total 116 claims
(3.75 square miles). The projects lie approximately three miles south of
the ET Blue Project in Horse Creek Valley where the Cortez Joint Venture
conducted a major drill program in 2002-2003.

Both BPV and CONO lie within a west-northwest structural projection of
fault-controlled mineralization. The properties lie north of the
mineralized Grouse Creek Fault and south and adjacent to the altered Dry
Hills fault, which bounds the Cortez Window. Historic drilling on the
CONO claims has shown that lower-plate carbonate rocks exist in the
basement below pediment gravels. The BPV property, one mile west of CONO
is underlain by upper-plate clastic rocks and chert but lower-plate
carbonate rocks may occur at depths that could be economically
attractive. Sub-cropping intrusive rock is mapped on the west side of
the BPV project. Limited surface sampling on the BPV project
demonstrates the existence of a cohesive stream sediment anomaly on the
south end of the property.

Miranda justified the acquisition of BPV and CONO on a generative model
that infers 1) the existence of a structural trend between the Cortez
Hills deposits and the ET Blue project and 2) a continuation of that
trend into Horse Creek Valley. Miranda believes that the Horse Creek
Valley area has a geologic setting similar to Crescent Valley, which
hosts the Pipeline-Cortez mine complex.

Under the terms of the Letter of Intent, Agnico may pay a total of
$355,000 to Miranda over the five-year earn-in period. Agnico can earn a
60% interest in the property by spending $1.5 million in exploration
expenditures over five years, of which $50,000 will be expended during
the first year. After completing the 60% earn-in phase, Agnico can elect
to earn an additional 10% interest in the Cono and the BPV projects (for
a total 70% interest) by completing a bankable feasibility study and
funding a minimum annual work commitment of $200,000. After completion
of the feasibility study, Miranda can request that Agnico arrange
Miranda's share of project financing, in which case Agnico will earn an
additional 5% interest (for a total 75% interest) in the project.

These Miranda projects fit well with ongoing exploration that Agnico,
Placer Dome and the Cortez Joint Venture have been conducting in the
area. Furthermore, Agnico brings significant Nevada expertise and
experience to Miranda's projects, which meet the technical hurdles
required for joint venture by Angico.

Agnico-Eagle is an intermediate-sized gold producer, with production of
271,567 ounces in 2004. Agnico's shares are listed on The New York Stock
Exchange under the ticker symbol AEM and the Toronto Stock Exchange
under the symbol AGE. Agnico is actively pursuing opportunities in the
Cortez Trend, and Miranda is pleased to have Agnico as a partner on the
Cono and BPV projects.

Miranda Gold Corp is a gold exploration company active in Nevada with an
emphasis on generating 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. In
addition to Agnico-Eagle, Miranda has ongoing partnerships with Newcrest
Resources Inc., Newmont Mining Company, Placer Dome U.S. Inc., and
Golden Aria Corp.

The signing of the formal agreement between Miranda and Agnico on this
transaction is subject to final management approval of both companies.

For more information visit the Company's web site at www.mirandagold.com.

ON BEHALF OF THE BOARD

Kenneth Cunningham, President and CEO

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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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Miranda Gold Corp.
    Kenneth Cunningham
    President and CEO
    (604) 689-1659
    (604) 689-1722 (FAX)
    mad@senategroup.com
    www.mirandagold.com
    The TSX Venture Exchange neither agrees nor disagrees with the
    information contained herein.