MIRANDA GOLD CORP.
Suite 1500 – 000 Xxxx Xxxxxxx Xxxxxx
Xxxxxxxxx, X.X.
X0X 0X0
April 18, 2007 | TSX Venture Exchange Symbol: MAD |
Frankfurt and Berlin Stock Exchange Symbol: MRG
NASD OTC Bulletin Board Exchange Symbol: MRDDF
Tel: (000) 000-0000
Fax: (000) 000-0000
Toll Free: (000) 000-0000
Email: xxx@xxxxxxxxxxx.xxx
Website: xxx.xxxxxxxxxxx.xxx
NEW JOINT VENTURE AGREEMENT
SIGNED ON MIRANDA’S PPM PROJECT
Miranda Gold Corp. ("Miranda") (TSX-V: MAD) is pleased to announce that it has signed an Exploration Agreement with Option to Form a Joint Venture with Piedmont Mining Company Inc. (“Piedmont”) (OTCBB: PIED) whereby Piedmont may earn a joint venture interest in the PPM project, located on the north end of the Battle Mountain-Eureka gold trend in Nevada.
Under the terms of the agreement, Piedmont can earn a 55% interest in the property by spending $1,750,000 for exploration activities over a period of five years. A minimum work expenditure of $175,000 is expected in the first year with expenditure minimums increasing in subsequent years. Once the initial earn-in phase of 55% has been reached, Piedmont and Miranda will enter into a Joint Venture agreement for which Piedmont will be the operator.
The PPM project covers 3.6 square miles (9.3 square kilometers) consisting of 116 unpatented lode mining claims. PPM is approximately 12 miles (19 kilometers) northwest of the Twin Creeks Mine on the west flank of the Hot Springs Range. Miranda theorizes that the PPM project covers a geologic setting analogous to that of the major deposits of the Xxxxxxxx Trend, where combined past production and current resources exceed 23 million ounces of gold from the Twin Creeks, Xxxxxxxx-Turquoise Ridge, and Xxxxxx deposits. Miranda has identified a pediment-covered gold target along northeast-striking faults, which extends southwest from a sediment-hosted mercury district. The claims are located over an area where those northeast-striking structures intersect gold-in-sagebrush geochemical anomalies proximal to the margin of an inferred buried intrusion. Sediment-hosted mercury occurrences are frequently in close spatial association with sediment-hosted gold systems and were documented previous to modern gold discoveries in the Carlin, Cortez, and Xxxxxxxx Trends. The mercury occurrences adjacent to PPM may reflect zoning from a primary gold system under pediment near the intrusive margin.
Miranda proposes an exploration program to include detailed gravity survey, sage sampling, and mercury in soil gas surveys to help define structural targets beneath pediment gravels. Survey work will begin immediately and a drill program, based on the results from these surveys, will be implemented later this year.
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 Xxxxxx 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., Xxxxxxx Gold Exploration Inc., the Xxxxxx Joint Venture, the Buckhorn Joint Venture, Romarco Minerals Inc., White Bear Resources Inc., and Piedmont Mining Company Inc.
ON BEHALF OF THE BOARD
“Xxxxxxx Xxxxxxxxxx”
Xxxxxxx Xxxxxxxxxx
President and CEO
For more information visit the Company’s web site at xxx.xxxxxxxxxxx.xxx or contact Xxxxx Xxxxx, Manager, Investor Relations 0-000-000-0000.
The TSX Venture Exchange neither agrees nor disagrees with the information contained herein.
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.
