2012 Drilling Concludes with 0.309 oz Au/ton (10.6 g Au/t) Intersect at Miranda Gold′s Angel Wing Project

Miranda Gold Corp. ('Miranda?) (TSX-V: MAD) is pleased to
announce that Ramelius Resources Ltd. ('Ramelius?) (ASX:RMS), our
funding partner at Angel Wing, completed its 2012 Phase III three-hole
drill program and all analyses are complete. Phase III totaled 3,055 ft
(930.6 m) of reverse circulation ('RC?) drilling. All three of the holes
intersected gold at grades above 0.01 oz Au/ton (0.343 g Au/t) with the
highest 5 ft (1.5 m) intercept being 0.309 oz Au/ton (10.6 g Au/t) in
hole AW12-12. This intercept is 250 ft (76 m) north of the 0.413 oz
Au/ton (14.15 g Au/t) encountered in Phase II hole AW12-06. Angel Wing
is an epithermal vein and sediment-hosted gold project in northeast Elko
County, Nevada.

During 2012, Ramelius drilled seven holes, including all the Phase III
holes, in the south and southwest portions of a donut-shaped magnetic
anomaly approximately 1,200 ft (400 m) in diameter. Ramelius refers to
this anomaly as Grass Hollow. Tertiary rhyolites crop out in the
vicinity of the magnetic anomaly. The rhyolites are underlain
successively by Tertiary conglomerate and Triassic limestone. The
limestone is moderately to strongly decalcified and silicified for
approximately 200 ft (61 m) beneath the conglomerate. The principal gold
intercepts are in this altered limestone. All seven holes penetrated
deep enough to intersect the altered limestone and gold mineralization
and all seven intersect gold grades above 0.01 oz Au/ton (0.343 g Au/t).

The Phase III holes were drilled by Boart Longyear Company with a
track-mounted drill. ALS Global performed all analyses. Significant gold
or silver intersections are defined as those with gold grades of 0.01 oz
Au/ton (0.343 g Au/t) or higher over intercepts of 5 ft (1.5 m) or
longer, or silver grades of 0.30 oz Ag/ton (10.29 g Ag/t) or higher.

As a result of the encouraging 2012 drill results, Ramelius has
initiated development of a Plan of Operations/Nevada Permit for
Reclamation (POO) with the BLM. The POO will provide for total land
disturbance for drill roads and pads in excess of the maximum 5 acres (2
hectares) of disturbance allowed under a Notice of Intent (NOI) that
currently regulates Ramelius' drilling-related land disturbance. Until
the POO is approved, Ramelius plans drilling to resume after winter
close-out in June 2013 under the current Notice of Intent (NOI) with the
BLM.

To date, Ramelius has drill-tested six target areas with a total of 32
holes aggregating 17,996 ft (5,484.6 m).

Project Details

The Angel Wing project consists of 87 unpatented lode claims covering
2.8 sq mi (7.3 sq km.) in northeast Elko County, Nevada. Project area
stratigraphy from youngest to oldest is a) Tertiary felsic volcanic
units, b) Tertiary conglomerate, and c) limestone, late Paleozoic or
Triassic in age. Past work consisted of geologic mapping, soil and rock
sampling, a gravity survey, and RC drilling. Gold values from 0.1 to 94
g Au/t in rock chips occur in an area about 6,700 ft (2,042 m) long and
up to 3,000 ft (914 m) wide. High gold value rock-chip samples with 0.29
to 2.7 oz Au/ton (10 to 94 g Au/t) occur in steeply dipping
quartz-calcite-adularia veins with distinctive 'angel wing' textures
within the limestone. Rock samples of altered and quartz-calcite veinlet
stockworked limestone and Tertiary conglomerate contain up to 0.045 oz
Au/ton (1.530 g Au/t). Historic shallow vertical drilling targeted
disseminated mineralization and returned up to 0.048 oz Au/ton over 50
ft (1.643 g Au/t over 15.2 m) in drill hole DC-7. Since 2010, Ramelius
completed IP/Resistivity, ground magnetic, and soil geochemical surveys,
three core holes, and 29 RC holes.

All data disclosed in this press release, including sampling, analytical
and test data, have been reviewed and verified by Vice President of
Exploration Joseph Hebert, C.P.G., B.Sc. Geology and Qualified Person as
defined by National Instrument 43-101.

Corporate Profile

Miranda Gold Corp. is a gold exploration company active in Nevada,
Alaska and Colombia and whose emphasis is on generating gold exploration
projects with world-class discovery potential. 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
Agnico-Eagle (USA) Inc., Montezuma Mines Inc., Navaho Gold Ltd.,
NuLegacy Corporation, Ramelius Resources Ltd., and Red Eagle Mining
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 Joe Hebert, Vice President, Exploration at 775-738-1877.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

U.S. investors are cautioned that mineral deposits on adjacent
properties are not indicative of mineral deposits on our properties. We
advise U.S. investors that the SEC's mining guidelines strictly prohibit
information of this type in documents filed with the SEC.

This news release contains forward-looking statements that are based
on the Company′s current expectations and estimates. Forward-looking
statements are frequently characterized by words such as 'plan?,
'expect?, 'project?, 'intend?, 'believe?, 'anticipate?, 'estimate?,
'suggest?, 'indicate? and other similar words or statements that certain
events or conditions 'may? or 'will? occur. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that could cause actual events or results to differ materially
from estimated or anticipated events or results implied or expressed in
such forward-looking statements.Such factors include, among
others: the actual results of current exploration activities;
conclusions of economic evaluations; changes in project parameters as
plans to continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals or financing; and
fluctuations in metal prices.There may be other factors that
cause actions, events or results not to be as anticipated, estimated or
intended.Any forward-looking statement speaks only as of the
date on which it is made and, except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent
uncertainty therein.

To view this press release as a webpage, please click on the following
link:

http://www.fscwire.com/pr/mirandagoldoct312012.htm

Miranda Gold Corp.

Joe Hebert, Vice President, Exploration

775-738-1877

www.mirandagold.com