Drill Results At Pavo Real Project

VANCOUVER - Miranda Gold Corp. reported drill results from its Pavo Real project in Colombia. Miranda's funding partner Red Eagle Mining Corporation (Red Eagle) (RD.V) drilled 11,150 ft (3,400 m) in nine holes in this initial program.

Drilling was focused on determining structural controls to mineralization, with targets including quartz veins and veinlet systems in sedimentary host rocks and hydrothermal breccias. Ongoing exploration work and these drill results will be used to design a follow-up drill program.

Miranda and Red Eagle are encouraged by the numerous anomalous intercepts. This initial phase of drilling partially tested targets near the La Cruzada adits, the Quebrada Virgen adit and a breccia on the west side of the property. Yet to be drill tested is a target on the southeast portion of the property where sandstone and limestone are in contact with intrusive rocks. Red Eagle anticipates testing this area for sediment-hosted disseminated mineralization once a drill permit is issued.

All drill samples were collected with a diamond drill rig using approximately 0.5 to 2 m sample intervals and following standard industry practice. Acme Analytical Laboratories prepped samples in Medellin, Colombia and assayed samples in Santiago, Chile. Gold values were determined by fire assay of a 30 g charge with an AA finish, or if over 10 g Au/t were re-assayed and completed with gravimetric finish. QC/QA included the insertion and continual monitoring of numerous standards and blanks on a regular basis, along with check assays conducted at alternate accredited laboratories.

Pavo Real lies within the department of Tolima 12.4 mi (20 km) south of the city of Ibague and 27.9 mi (45 km) southeast of AngloGold Ashanti's La Colosa project. Pavo Real is a large project that covers approximately 48.9 square km. Robust surface gold values are seen in sedimentary rocks, dikes, veins and breccias. Strong radiometric anomalies inferred as potassic alteration zones coincide with mapped structures, historic workings and samples with anomalous gold. Of 1,040 samples taken on the property, 540 rock samples assayed over 0.003 oz Au/t (0.1 g Au/t). Highlights of surface sampling include 135 ft of 0.043 oz Au/t (41 m of 1.47 g Au/t).