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Re: News Releases - Thursday, April 17, 2008
Miranda Gold Acquires and Stakes Claims in Pequop Mountains
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Vancouver, BC, Canada -- April 17, 2008 - Miranda Gold Corp.
("Miranda") (TSX-V: MAD) has acquired 136 claims in the Pequop
Mountains, in Elko County, Nevada. The PQ Property comprises 36 leased
claims covering one square mile. In addition, the Company has staked an
additional 100 claims totaling 2.75 square miles surrounding the leased
claims.
The PQ Property is located approximately 18 miles east of Wells, Nevada
and approximately 8 miles north of the AuEx Ventures Inc. ("AuEx") and
Agnico Eagle (USA) Ltd. ("Agnico-Eagle") West Pequop Project.
Agnico-Eagle has recently staked claims that adjoin Miranda's Property
on the southeast. Many companies are continuing aggressive claim
staking in this area of the Pequop Mountains under the premise that the
AuEx Long Canyon and West Pequop discoveries may represent a new gold
trend in Nevada.
The geology on the property is a sedimentary rock sequence including
limestone, shale and conglomerates. These rocks are cut by
predominately north- and west-northwest-trending faults. Locally, the
fault zones control jasperoid and gossan occurrences and are marked by
weak silicification and bleaching. Limited rock chip sampling shows
weakly anomalous gold and arsenic mineralization, and significantly
anomalous mercury, antimony and zinc. Zinc is reportedly anomalous at
both West Pequop and Long Valley.
Miranda has signed a 20 year lease on the 36 claims and has paid a
$20,000 advanced royalty signing bonus. Advance royalty payments due
on the first and second anniversaries are $30,000 and $40,000. Third
and subsequent anniversaries require an advance royalty payment of
$50,000. The leased claims are subject to a net smelter return ("NSR")
royalty of 3% and the surrounding claims, while staked by Miranda, fall
within the lease's Area of Interest and are subject to an NSR of 2%.
Both royalties are subject to a "buy-down" provision.
Once field conditions improve, Miranda will implement an evaluation of
the property that will include mapping, sampling and possibly a gravity
survey. In line with Miranda's business model, a joint venture partner
will be sought to further explore the PQ project.
The data disclosed in this press release have been reviewed and verified by Company Senior Geologist Steven Koehler, P. Geo., BSc. Geology and Qualified Person as defined by National Instrument 43-101.
Corporate Profile
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
Barrick Gold Exploration Inc., the Cortez Joint Venture, the Buckhorn
Joint Venture, Piedmont Mining Company Inc., White Bear Resources Inc.
and Queensgate Resources Corporation.
ON BEHALF OF THE BOARD
"Kenneth Cunningham"
Kenneth Cunningham
President and CEO
For more information visit the Company's web site at
www.mirandagold.com or contact Fiona Grant, Manager, Investor Relations
1-877-689-4580.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
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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Copyright (c) 2008 MIRANDA GOLD CORP. (MAD) All rights reserved. For
more information visit our website at http://www.mirandagold.com/ or
send mailto:fiona@mirandagold.com
Message sent on Wed Apr 16, 2008 at 8:41:11 PM Pacific Time
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