Miramar Mining Corporation
TSX : MAE
AMEX : MNG

Miramar Mining Corporation

June 06, 2007 09:00 ET

Miramar Reports Initial Rand and More Suluk Results Continue to Exceed Expectations

Hole 07PMD542 near surface at Rand encounters 10.9 g/t gold over 33.5 meters Hole 07PMD529 at Suluk encounters 86.5 g/t gold over 2 meters at Bedrock

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2007) - Miramar Mining Corporation (TSX:MAE)(AMEX:MNG) today announced results for an additional 21 diamond drill holes from the 2007 exploration program at the Hope Bay Project in Nunavut. There are currently 7 core drills working at Hope Bay with 4 drills coring from lake ice at the Suluk and Rand zones of the Madrid deposit and with a single drill testing the Boston BN Zone. Also, the search for new deposits on the belt has begun with 2 drills testing priority exploration targets on the 21 km long Madrid trend.

Drilling at Madrid continues to target potential high impact areas in the shallow portions of the existing resource. The drilling results received to date continue to exceed our expectations returning mineralization in areas previously interpreted as weakly or not mineralized in part due to limited wide spaced drilling. In general, the near surface grades are higher than previously interpreted and drilling has been able to expand and extend the mineralization at Suluk.

The first holes from wide spaced shallow drilling in the Rand area are reported below. Although the Rand area was considered to be generally lower grade than the balance of the Madrid deposit (slightly less than 9% of the total Madrid with an average resource grade of slightly less than 3 g/t gold grams), visible gold has been observed in the majority of the drill holes. Hole 07PMD542 encountered a broad near surface mineralized interval of 10.9 g/t over 33.5m, including 30.6 g/t gold over 4.7m and 13.4 g/t Au over 15m. Assays for additional drill holes in the Rand Zone are pending.

Previous estimates of the inferred resources in these areas were not considered for inclusion in the upcoming feasibility study for Phase II. However, with the tighter spaced drilling and higher grades at these shallow depths, new estimates could have a positive impact in both resource addition and economics of a large scale mining operation due to the shallow location of the mineralization and the increased grade. As a result, this and ongoing work at Suluk may be included in the technical economic studies well underway for Phase II. Details of the drilling reported in this release are included below.

Drilling continues to encounter similar widths and grades to those returned in 2006 at the BN zone located 400m north of the Boston. Hole 07SBD353 returned 2.0 g/t Au over a length of 44.5 metres. Drill evaluation continues between the main Boston Resource and the BN Zone.

The additional sampling program at the main Boston resource continues. This sampling is required for a new evaluation of the Boston resource at a lower cut-off grade.

2007 Madrid Program

Miramar embarked on the 2007 exploration campaign at Hope Bay with the objectives of: advancing the deposits towards completion of a feasibility study for Phase II production, primarily with infill drilling and supporting technical and metallurgical studies, conducting exploration drilling along strike and to depth on the existing deposits, and embarking on testing of priority exploration targets for new discoveries on strike and in similar settings to the existing resource areas.

The 2007 program was initiated on March 17, 2007 with 5 drills testing resource targets from the frozen lake surface in the Suluk and Rand areas. Significant recent results are presented below:

Suluk and Rand Targets

A project of infill drilling the upper 300m of the Suluk Zone and upper 200m of the Rand Zone is ongoing, targeting near surface mineralization. Most holes are returning results equivalent to or better than data from surrounding drillholes. Highlights are summarized in the following table with complete significant results appended to this release.



Suluk and Rand Targets Highlights
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FROM TO LENGTH Au
HOLE ID AREA (m) (m) (m) (g/t) NOTES
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07PMD542 Rand 114.5 148.0 33.5 10.9
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including 117.5 122.2 4.7 30.9
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including 127.0 142.0 15.0 13.4 Additional assays
pending
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07PMD532 Rand 44.5 60.1 15.6 7.6
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07PMD526 Suluk 18.4 83.0 64.6 3.1
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including 18.4 28.5 10.1 8.8
---------------------------------------------------------------------------
07PMD529 Suluk 114.0 116.0 2.0 86.5 Additional assays
pending
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07PMD531 Suluk 85.0 113.5 28.5 4.4
---------------------------------------------------------------------------
07PMD522 Suluk 18.0 38.0 20.0 4.0
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Boston Nose Area

Drilling on the BN zone started on April 18, 2007. Currently two drills are active in the Boston area testing lake ice based exploration targets south and east of the Boston Resource area. Additional drilling on the BN area will be undertaken from land once the ice-based drilling is completed. The second phase of BN drilling will focus on linking the main Boston resource area to the BN area located 400m north of the Boston Resource.



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FROM TO LENGTH Au
HOLE ID AREA (m) (m) (m) (g/t) NOTES
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07SBD353 Boston 84.0 128.5 44.5 2.0
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Miramar Mining Corporation

Miramar is a Canadian gold company that controls the Hope Bay project, the largest undeveloped gold project in Canada. The Hope Bay project extends over 1,000 sq. km. and encompasses one of the most prospective undeveloped greenstone belts in Canada.

Miramar aims to become a significant gold producer through the integrated development of the Hope Bay belt. In order to achieve this goal, while minimizing potential dilution and risk to shareholders, Miramar has developed a phased approach to maximizing potential gold production from the Hope Bay belt starting with the proposed small scale, high grade Doris North Project. Miramar then hopes to extend and expand production levels by sequentially developing the rest of Doris, Boston and Madrid. All contemplated production at the Hope Bay project is subject to positive feasibility studies, the availability of financing and permitting and regulatory approval.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed by John Wakeford, P. Geo., Vice President, Exploration for Miramar Mining Corporation, and the Qualified Person for the Company as set out in NI 43-101. The analytical method for the gold analyses is gravimetric assay done by TSL in Saskatoon with metallic screen assays for all samples assaying over 20 g/t gold. Check assays are completed by Acme Laboratories in Vancouver.

Assay intervals reported are drill core lengths. Geologic interpretation of drill results is underway. However, it is estimated that true widths would generally be at least 70-80% of reported core lengths.

Additional Information

Diagrams and tables detailing some of the matters described herein are attached to this news release. If you are missing these, please download this news release from Miramar's website at http://www.miramarmining.com/, to which they are attached, or contact us at the numbers listed below. All other information previously released on the Hope Bay Project is also available on this website.

Forward-Looking Statements

Statements relating to exploration work at the Hope Bay project and the expected costs and results of this work and statements regarding the planned program for 2006, proposed feasibility studies and possible production strategies are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and securities legislation in certain provinces in Canada. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective", "prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Miramar's operations and other risks and uncertainties, including those described in the Miramar's Annual Report on Form 40-F for the year ended December 31, 2006 and Reports on Form 6-K filed with the Securities and Exchange Commission.

Forward-looking statements are based on the beliefs, estimates and opinions of Miramar's management on the date the statements are made. Miramar undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

All resource estimates are calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the United States Securities and Exchange Commission, which permits U.S. mining companies in their SEC filings to disclose only those mineral deposits that qualify as proven or probable "reserves" because a determination has been made based on an appropriate feasibility study that the deposits could be economically and legally extracted or produced. Accordingly, resource information reported in this disclosure may not be comparable to similar information reported by United States companies. The term "resource(s)" does not equate to "reserves" and normally may not be included in documents filed with the Securities and Exchange Commission, and investors are cautioned not to assume that "resources" will be converted into "reserves" in the future.

This disclosure uses the term "inferred resources". While this term is recognized by Canadian regulations concerning disclosures by mining companies, the U.S. Securities and Exchange Commission does not recognize it. "Inferred resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that all or any part of the "inferred resources" will ever be upgraded to a high category. Under Canadian rules, estimates of "inferred resources" may not form the basis of feasibility or pre-feasibility studies except in rare cases. Investors are cautioned not to assume that part or all of an "inferred resource" exist or are economically or legally feasible.

This news release has been authorized by the undersigned on behalf of Miramar Mining Corporation.

To view the figures accompanying this press release please click on the following link: http://www.ccnmatthews.com/docs/mae0606.pdf



Madrid detail drill results, significant assays only

---------------------------------------------------------------------------
FROM TO LENGTH Au
HOLE ID AREA (m) (m) (m) (g/t) NOTES
---------------------------------------------------------------------------
07PMD517 Suluk No significant
values
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07PMD518 Suluk 475.5 491.2 15.7 3.2
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includes 476.5 478.2 1.6 8.7
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07PMD519 Suluk 14.6 26.4 11.8 4.8
---------------------------------------------------------------------------
includes 14.6 16.7 2.0 8.5
---------------------------------------------------------------------------
And 21.7 26.0 4.3 7.9
---------------------------------------------------------------------------
And 47.0 61.9 14.9 3.4
---------------------------------------------------------------------------
includes 56.0 61.9 5.9 6.4
---------------------------------------------------------------------------
And 226.8 227.3 0.5 10.6
---------------------------------------------------------------------------
And 245.9 254.7 8.8 3.9
---------------------------------------------------------------------------
And 252.5 253.3 0.8 12.5
---------------------------------------------------------------------------
And 271.6 288.8 17.3 2.9
---------------------------------------------------------------------------
includes 278.7 288.8 10.1 3.1
---------------------------------------------------------------------------
07PMD520 Suluk no significant
values
---------------------------------------------------------------------------
07PMD521 Suluk 74.2 77.9 3.6 9.2
---------------------------------------------------------------------------
And 103.7 119.2 15.5 4.1
---------------------------------------------------------------------------
includes 104.5 107.6 3.1 16.4
---------------------------------------------------------------------------
And 133.0 138.2 5.2 4.1
---------------------------------------------------------------------------
07PMD522 Suluk 18.0 38.0 20.0 4.0
---------------------------------------------------------------------------
includes 24.0 35.0 11.0 6.1
---------------------------------------------------------------------------
And 52.0 61.0 9.0 3.9
---------------------------------------------------------------------------
includes 52.0 53.0 1.0 21.4
---------------------------------------------------------------------------
07PMD523 Suluk 213.0 214.0 1.0 23.0
---------------------------------------------------------------------------
And Suluk 253.0 257.2 4.2 3.9
---------------------------------------------------------------------------
And 262.0 265.0 3.0 3.3
---------------------------------------------------------------------------
And 273.8 289.8 15.9 3.1
---------------------------------------------------------------------------
includes 273.8 277.0 3.2 9.9
---------------------------------------------------------------------------
07PMD524 Suluk 32.5 44.5 12.0 3.9 additional assays
pending
---------------------------------------------------------------------------
07PMD525 Suluk 246.5 263.9 17.4 3.4
---------------------------------------------------------------------------
includes 252.5 255.5 3.0 7.8
---------------------------------------------------------------------------
07PMD526 Suluk 18.4 83.0 64.6 3.1
---------------------------------------------------------------------------
includes 18.4 28.5 10.1 8.8
---------------------------------------------------------------------------
which includes 21.0 22.5 1.5 29.9
---------------------------------------------------------------------------
includes 40.5 50.0 9.5 5.3
---------------------------------------------------------------------------
which includes 41.5 42.5 1.0 32.4
---------------------------------------------------------------------------
includes 68.0 83.0 15.0 2.5
---------------------------------------------------------------------------
07PMD527 Rand 21.6 22.3 0.8 6.3
---------------------------------------------------------------------------
And 126.5 126.9 0.5 33.0
---------------------------------------------------------------------------
And 136.4 138.5 2.1 4.5
---------------------------------------------------------------------------
07PMD528 Suluk 125.5 129.8 4.3 9.7
---------------------------------------------------------------------------
07PMD529 Suluk 114.0 116.0 2.0 86.5 additional assays
pending
---------------------------------------------------------------------------
07PMD530 Suluk 11.0 33.8 22.8 3.2
---------------------------------------------------------------------------
includes 16.4 18.2 1.8 12.8
---------------------------------------------------------------------------
07PMD531 Suluk 33.5 50.0 16.5 1.5
---------------------------------------------------------------------------
includes 33.5 35.0 1.5 9.1
---------------------------------------------------------------------------
And 85.0 113.5 28.5 4.4
---------------------------------------------------------------------------
includes 89.0 90.0 1.0 16.5
---------------------------------------------------------------------------
includes 90.0 100.0 10.0 6.1
---------------------------------------------------------------------------
which includes 92.5 94.0 1.5 10.9
---------------------------------------------------------------------------
which includes 97.0 98.5 1.5 13.7
---------------------------------------------------------------------------
includes 109.0 110.5 1.5 12.1
---------------------------------------------------------------------------
07PMD532 Rand 44.5 72.8 28.3 5.0
---------------------------------------------------------------------------
includes 44.5 60.1 15.6 7.6
---------------------------------------------------------------------------
which includes 55.4 60.1 4.6 15.3
---------------------------------------------------------------------------
07PMD542 Rand 114.5 148.0 33.5 10.9
---------------------------------------------------------------------------
includes 117.5 122.2 4.7 30.9
---------------------------------------------------------------------------
And includes 127.0 142.0 15.0 13.4
---------------------------------------------------------------------------
07PSD132 P7 387.1 392.2 5.1 5.1
---------------------------------------------------------------------------
And 399.2 401.6 2.4 3.6
---------------------------------------------------------------------------
And 443.4 451.0 7.6 2.2
---------------------------------------------------------------------------
And 458.2 463.1 4.9 2.4
---------------------------------------------------------------------------
07SBD353 Boston 84.0 128.5 44.5 2.0
---------------------------------------------------------------------------
includes 93.0 97.4 4.4 6.8
---------------------------------------------------------------------------
07SBD354 Boston 238.8 247.0 8.2 4.5
---------------------------------------------------------------------------
includes 242.5 243.5 1.0 18.7
---------------------------------------------------------------------------
07SBD355 Boston 116.0 130.9 14.9 2.3
---------------------------------------------------------------------------
includes 127.8 128.7 0.9 12.7
---------------------------------------------------------------------------


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