Miranda Gold Corp.
TSX VENTURE : MAD
OTC Bulletin Board : MRDDF
BERLIN : MRG
FRANKFURT : MRG

Miranda Gold Corp.

November 04, 2005 11:22 ET

Miranda Gold Reports Drill Results on Redlich and Red Hill Projects

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 4, 2005) - Miranda Gold Corp. (TSX VENTURE:MAD)(OTCBB:MRDDF)(BERLIN:MRG)(FWB:MRG) -

Redlich

Miranda Gold Corp. is pleased to report results from the Redlich Project, Esmeralda County, which is joint ventured to Newcrest Resources Inc. Newcrest has concluded their 2005 drill program of 26 reverse circulation holes (R48 through R74) for a total of 16,145ft (4921m).

Of particular interest is an intercept in R-73 which assayed 1.945 ounces gold per ton over 5ft (66.6 grams gold per tonne over 1.52m) from 565 to 570ft (172.2 to 173.7m). Duplicate pulp samples and metallic screen assays substantiate the assays in R-73. Notably, this intercept includes thinly banded texture in a quartz vein and is significantly deeper than previous "bonanza-grades" drilled and reported by Newcrest in 2004. R-73 is within the main Redlich fault zone, as was R-45 (press release on December 7, 2004) which assayed 0.610 ounces gold per ton over 5ft (21.0 grams gold per tonne over 1.52m) from 280 to 285ft (85.3m to 86.9m).

Miranda had speculated in its last Redlich release of September 1, 2005, that due to a shallow level of exposure, any boiling zone (conventionally associated with continuous bonanza grades) could occur deeper in the system and below the level of current drilling. Thus Miranda is encouraged by the banded vein texture and higher grades at depth in the latest drill program. Newcrest has not defined geometries or true thicknesses for the higher-grade intercepts it has drilled. Duplicate pulp samples and metallic screen assays substantiate the assays in R-73.

Miranda continues to be encouraged by the aggressive drill campaigns Newcrest has conducted on Redlich and looks forward to another drill program in 2006.

Significant intercepts (defined as any mineralization better than 0.010 ounces gold per ton over 5ft) are presented in the following table:



Hole Interval Length Grade Length Grade
Number (ft) (ft) (oz Au/ton) (m) (g Au/tonne)
R-50 110-120 10 0.010 3.1 0.34
275-280 5 0.049 1.5 1.68
360-410 50 0.012 15.2 0.41
(includes) 380-385 5 0.073 1.5 2.50
425-455 30 0.013 9.1 0.45
(includes) 430-435 5 0.032 1.5 1.11
R-52 435-545 110 0.010 33.5 0.34
R-54 265-280 15 0.017 4.6 0.58
R-56 135-345 210 0.019 64.0 0.65
(includes) 140-145 5 0.032 1.5 1.11
(includes) 200-210 10 0.195 3.1 6.68
(includes) 240-245 5 0.066 1.5 2.26
R-57 205-210 5 0.012 1.5 0.41
R-59 525-560 35 0.010 10.7 0.34
R-60 130-135 5 0.010 1.5 0.34
200-230 30 0.016 9.1 0.55
(includes) 205-210 5 0.035 1.5 1.20
400-405 5 0.013 1.5 0.45
R-66 120-135 15 0.010 4.6 0.34
R-69 380-395 15 0.012 4.6 0.41
580-585 5 0.015 1.5 0.51
R-73 190-260 70 0.023 21.3 0.79
(includes) 190-195 5 0.067 1.5 2.30
(includes) 210-220 10 0.048 3.1 1.65
270-275 5 0.010 1.5 0.34
280-335 55 0.046 16.8 1.58
(includes) 310-315 5 0.040 1.5 1.37
(includes) 315-320 5 0.317 1.5 10.87
345-350 5 0.012 1.5 0.41
360-385 25 0.104 7.6 3.57
(includes) 360-365 5 0.197 1.5 6.75
(includes) 365-370 5 0.265 1.5 9.09
400-405 5 0.012 1.5 0.41
410-415 5 0.011 1.5 0.38
450-455 5 0.046 1.5 1.58
565-575 10 1.037 3.1 35.56
(includes) 565-570 5 1.945 1.5 66.69
(includes) 570-575 5 0.129 1.5 4.42
R-74 250-255 5 0.031 1.5 1.06


Red Hill

Miranda Gold has received assays for the one drill hole (PRH0508) drilled in 2005 on the Red Hill property by its joint venture partner Placer Dome US Inc. ("PDUS"). No significant gold intercepts were encountered in this hole. Trace elements are also low, although barium is elevated in portions of the hole.

Recently, PDUS re-logged the cuttings in PRH0508 and despite an initial determination that the hole intersected lower plate, amygdaloidal textures in the cuttings suggest volcanic greenstone is present in several intervals down to the bottom of the hole. Miranda and PDUS now agree that the drill hole most likely remains in upper plate rocks to its final depth of 940ft, and not lower plate rocks as was previously reported.

Drill hole PRH0508 was designed to test a gravel covered horst margin inferred from a CSAMT survey. PDUS is evaluating Miranda's Red Hill project in conjunction with a larger program it is conducting on its own surrounding claims. PDUS has permitted additional drill holes on the Red Hill project although no additional drilling is planned for 2005.

Miranda Gold and PDUS have renegotiated the initial earn-in period of the joint venture agreement. Under the new terms, PDUS has five rather than four years to earn a 60% interest in the property. The total payment and exploration amounts remain the same, so the payment and exploration schedules have been adjusted. Miranda Gold received a $25,000 payment from PDUS on October 28 as part of the earn-in obligation.

Miranda Gold Corp. is a gold exploration company active in Nevada and whose emphasis is on generating gold exploration 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. Miranda has ongoing partnerships with Newcrest Resources Inc., Newmont Mining Corporation, Placer Dome U.S. Inc., Agnico-Eagle (USA) Ltd., Barrick Gold Exploration Inc., and Golden Aria Corp.

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.

The TSX Venture Exchange neither agrees nor disagrees with the information contained herein.

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