Miranda Gold Corp (MRDDF) 0.0566 $MRDDF
Miranda Gold Finalizes Red Canyon, Nevada Joint Venture
Filing Services Canada - Tue Sep 01, 6:02AM CDT
Miranda Gold Finalizes Red Canyon, Nevada Joint Venture Vancouver, British Columbia (FSCwire) - Miranda Gold Corp. ("Miranda"
(TSX-V: MAD) and Montezuma Mines Inc. (Montezuma) have on August 28, 2015, executed a Project Management Agreement for the formation and organization of a limited liability company (the LLC) to hold the lease and related rights in respect of the Red Canyon, Nevada property and to conduct the operations contemplated under the Project Management Agreement. Having met the expenditure requirements of US$4 million under a now superseded exploration agreement; Montezuma owns 60% of the LLC and Miranda owns 40% of the LLC. Montezuma has paid Miranda US$360,000 as consideration for the option to buy-out Mirandas 40% interest in the LLC, with Miranda retaining a 0.5% net smelter return (NSR) royalty, upon meeting the Purchase Conditions (described below) during the term of the underlying lease. Until then, Montezuma will fund 100% of the costs of the LLC to maintain and advance the exploration of the Red Canyon property. If Montezuma fails to fund and meet its obligations pursuant to the Exploration Agreement and underlying lease, it will forfeit its interest in the LLC to Miranda. The Underlying Lease The Red Canyon project consists of 254 unpatented lode mining claims covering approximately 5,248 acres along the Battle Mountain-Eureka Gold Trend in Eureka County, Nevada. On November 18, 2003, Miranda entered into a 20-year mining lease, with option to purchase, for the Red Canyon property with Red Canyon Corporation, for consideration payable in stages over 20 years. The lease may be extended for up to three years providing the conditions for extension are met. The purchase option becomes exercisable upon completion of a positive feasibility study and receipt of all governmental approvals, consents, licenses and permits to construct, develop or operate a mine on the property (the Purchase Conditions). If all of the Purchase Conditions are met, the property can be purchased, subject to a retained NSR royalty of 5%. The LLC will then have the option to buy two percentage points of the 5% NSR for US$1,000,000 per percentage point. About Miranda Miranda is a gold exploration company active in Nevada, Alaska and Colombia, 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 relationships with Agnico Eagle Mines Ltd., Prism Resources, and Montezuma Mines Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com 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 PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...012015.pdf Source: Miranda Gold Corp. (TSX Venture:MAD) http://www.mirandagold.com/s/Home.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MAD.VN: 0.075 (unch)
Miranda Gold Terminates Agreement to Sell Four Nevada Properties
Filing Services Canada XHTML - Fri May 01, 6:05AM CDT
MAD.VN: 0.075 (unch), EUU.VN: 0.005 (-0.005)
Miranda Gold Provides Corporate Update
Filing Services Canada - Tue Mar 03, 6:04AM CST
Miranda Gold Provides Corporate Update Vancouver, British Columbia (FSCwire) - Miranda Gold Corp. ("Miranda" (TSX-V: MAD) is pleased to provide an update on its activities in Colombia and Alaska as well as the monetization of its remaining Nevada projects. In all, Miranda expects to see partner spending on Miranda projects of $1.5-$1.75 million in 2015. In addition to partner-funded projects, Miranda has a budget for generative work in Colombia that is outside of the Strategic Alliance and outside of the Department of Antioquia. Prospect Generator/Joint Venture Model Miranda continues to adhere to the Prospect Generator and Joint Venture model and as a result expects to see the following partners fund activities in projects in both North and South America. Agnico Eagle Mines Limited (AEM:TSX)(Agnico) will fund 70% (Miranda 30%) of programs under a Strategic Alliance agreement. Funds are allocated toward project generation in the Antioquia Department of Colombia. Miranda is operator. If a Designated Property is accepted into a joint venture by Agnico, Agnico could earn up to a 70% interest in that project by sole funding work programs until it earns its interest. Prism Resources Inc. (NEX
RS.H) is funding an initial exploration program at the Cerro Oro project in the Caldas Department of Colombia. Miranda is also operator of this project. The 2015 program will comprise permitting and property wide geochemical and geologic surveys. Gold Torrent Inc. (GTOR:OTCBB) is designing and permitting a small high-grade underground mine at the Willow Creek, Alaska project. A new NI 43-101 Resource Estimate and Preliminary Feasibility Study will be highlights of this years program. Montezuma is hoping to fund a drill project at the Red Canyon property pending finalization of joint venture terms. Colombia Oribella Miranda submitted a Target Report to Agnico in the 4th quarter of 2015 as the first step towards possible acceptance of Oribella as a Designated Property pursuant to the Strategic Alliance agreement. Once a property is submitted, Agnico can: (1) accept it as a joint venture whereby they would be solely responsible for funding future exploration; (2) reject the project at which time Miranda can seek a 3rd party joint venture; or (3) request that specific additional work be done to demonstrate that the property has the size potential to be of interest to Agnico. Agnico has requested trenching and channel sampling to demonstrate continuity of mineralization (gold and copper) prior to considering Oribella as a Designated Property. This work is underway and once samples are assayed a revised report will be submitted to Agnico. Miranda also recently met with the president of the Agencia National de Mineria (ANM) to request assistance in obtaining a license for the northern part of the property which is currently held under a mining application. Assurances were given that the government would work with us on the license. Cerro Oro Cerro Oro is a low-sulfidation epithermal gold system that lies approximately 14 km southwest of the Marmato (14 M ounces) mine. Currently, Miranda is conducting a Consulta Previa or consultation with local and indigenous peoples near the project as a requirement of the Colombian mining law. Once this permit is obtained a mapping, trenching and a soil sampling program funded by Prism Resources will begin with the aim of delineating drill targets for the 2016 season. Prism Resources will also commission a technical report on the property. Pavo Real Red Eagle Mining recently terminated the joint venture agreement at Pavo Real in order to focus its time and treasury on permitting and building their San Ramon underground mine. Red Eagle drill tested several target areas and conducted property wide geochemical surveys, spending $4 million on the project. Soil sampling on the south end of the property produced a large untested gold anomaly and Miranda is seeking a new partner to drill test this area. Willow Creek, Alaska Gold Torrent plans to fast-track the Coleman deposit into production in 24 to 30 months. Initial production estimates are for 21,000 ounces of gold annually from the mining and milling of 150 tons per day. Gold Torrent anticipates achieving +80% recovery through gravity (tables and spiral concentrators) without the use of chemicals which should expedite permitting. Expected milestones for 2015 include: A new resource estimate based on independent review and modeling of deposit. This report is anticipated within two months and the expectation is that the resource will increase in size. Completion of a Preliminary Feasibility Study by mid-2015. This document will provide both Gold Torrent and Miranda shareholders insight into the capital and operating costs, cash flows and internal rate of return of mining the Coleman deposit. Mine planning. Gold Torrent is in the process of determining the optimum way to access the Coleman deposit for the least amount of capital. Life of Mine production scheduling. Mill process design and location. Initiate all aspects of permitting including baseline studies, water, air, and discussions with local communities and area stakeholders. Possible rehabilitation of the Enserch tunnel to access the Lucky Shot vein system for production and drilling. While no drilling is planned for 2015, modeling of the old underground workings, drill holes and underground samples will provide targets for 2016. Both companies agree that with the rehabilitation of the Enserch tunnel, targets can be best drilled from underground drill stations. Nevada Red Canyon Miranda is hoping to finalize a joint venture/purchase agreement with Montezuma Mines pending consent to assignment of the lease by the owner to Montezuma. Red Hill, Iron Point, Kibby Flats and Mustang Miranda has monetized its four remaining Nevada holdings in order to focus on Colombia. This decision was made not because we no longer believe Nevada will yield discoveries but rather we feel that we can make a significant discovery in Colombia sooner than in Nevada. We feel that Colombia, as a frontier jurisdiction with its rich mineral endowment, will provide the fastest route to a large grassroots discovery. On March 2, 2015, Miranda announced an agreement with European Uranium Resources Ltd. (EUU) whereby, subject to regulatory approval, Miranda will sell and or assign its interest in the four properties for an 8% equity interest in EUU (subject to its reorganization), the retention of a royalty interest (NSR) ranging from 1% to 2% in all four properties and the commitment by EUU of conducting a modest drill program on the Mustang property. Qualified Person Data disclosed in this press release have been reviewed and verified by Mirandas Executive Vice President Joseph Hebert, C.P.G., B.Sc. Geology, and Qualified Person as defined by National Instrument 43-101. About Miranda Miranda is a gold exploration company active in Nevada, Alaska and Colombia, 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 relationships with Agnico Eagle Mines Limited, Prism Resources, Gold Torrent Inc., and Montezuma Mines Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com 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. 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. Notice to US investors: 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 press release uses the terms measured resources, "indicated resources" and "inferred resources", which are estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in certain exceptional cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...032015.pdf Source: Miranda Gold Corp. (TSX Venture:MAD) http://www.mirandagold.com/s/Home.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MAD.VN: 0.075 (unch)
Miranda Gold Sells Four Nevada Properties
Filing Services Canada - Mon Mar 02, 6:04AM CST
Miranda Gold Sells Four Nevada Properties Vancouver, British Columbia (FSCwire) - Miranda Gold Corp. ("Miranda" (TSX-V: MAD) has on February 27, 2015, signed a purchase and sale agreement with European Uranium Resources Ltd. (EUU) to sell a 100% interest in Mirandas Mustang, Iron Point and Kibby Flat projects (the Properties) and the assignment and assumption of Mirandas mining lease on the Red Hill project (the Lease), all located in Nevada (the Agreement). Prior to closing the Agreement, EUU intends to consolidate its shares on an up to 4 old for 1 new basis and change its name to Reyes Resources Inc. Immediately after the shares are consolidated, EUU intends to concurrently settle certain debts with shares, close a non-brokered part-and-parcel private placement financing to raise a minimum of $1,000,000 and up to $2,000,000 (the Ancillary Transactions) and concurrently close the Agreement. Closing of the Agreement is conditional on closing of the Ancillary Transactions. On closing the Agreement, EUU will issue to Miranda 8% of the then issued and outstanding shares of EUU after that issue, and following the closing of the Ancillary Transactions. On closing the Agreement Miranda will transfer the Properties to EUU and execute the assumption and assignment of the Lease to EUU. Miranda will retain a 2% net smelter returns royalty (NSR) on each of the Mustang, Iron Point and Kibby Flat projects and a 1% NSR on the Red Hill project. Pursuant to the Agreement, EUU will be obligated to complete a drill program on one of the four properties within the first agreement year at a cost of not less than US$150,000 and payment of the May 27, 2015 advance minimum royalty payment pursuant to the Lease. Ken Cunningham, President and CEO of Miranda stated, Miranda had decided to try and monetize its remaining Nevada holdings in order to focus on Colombia. This decision was made not because we no longer believe Nevada will yield discoveries but rather we feel that in the current market we need to focus on one jurisdiction and we believe that the immature nature of Colombian exploration coupled with its rich mineral endowment will provide the fastest route to success for Miranda. This Agreement allows Miranda to retain the upside in the Properties and the Lease by an equity interest in EUU and the retention of a royalty interest in all four properties. About Miranda Miranda is a gold exploration company active in Nevada, Alaska and Colombia, 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 relationships with Agnico Eagle Mines Ltd., Prism Resources, and Montezuma Mines Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com 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. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...022015.pdf Source: Miranda Gold Corp. (TSX Venture:MAD) http://www.mirandagold.com/s/Home.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc.
MAD.VN: 0.075 (unch)
Miranda Gold Director Change and Option Grant
Filing Services Canada XHTML - Tue Feb 17, 6:01AM CST
MAD.VN: 0.075 (unch)
Miranda Gold Modifies Terms of Share Purchase Warrants
Filing Services Canada XHTML - Wed Dec 17, 6:01AM CST
MAD.VN: 0.075 (unch)
Miranda Gold Signs Joint Venture Agreement to Advance High-Grade Willow Creek Project Towards Production
Filing Services Canada XHTML - Mon Nov 17, 11:44AM CST
MAD.VN: 0.075 (unch)
Miranda Gold Finalizes Red Canyon, Nevada Joint Venture
Filing Services Canada - Tue Sep 01, 6:02AM CDT
Miranda Gold Finalizes Red Canyon, Nevada Joint Venture Vancouver, British Columbia (FSCwire) - Miranda Gold Corp. ("Miranda"
(TSX-V: MAD) and Montezuma Mines Inc. (Montezuma) have on August 28, 2015, executed a Project Management Agreement for the formation and organization of a limited liability company (the LLC) to hold the lease and related rights in respect of the Red Canyon, Nevada property and to conduct the operations contemplated under the Project Management Agreement. Having met the expenditure requirements of US$4 million under a now superseded exploration agreement; Montezuma owns 60% of the LLC and Miranda owns 40% of the LLC. Montezuma has paid Miranda US$360,000 as consideration for the option to buy-out Mirandas 40% interest in the LLC, with Miranda retaining a 0.5% net smelter return (NSR) royalty, upon meeting the Purchase Conditions (described below) during the term of the underlying lease. Until then, Montezuma will fund 100% of the costs of the LLC to maintain and advance the exploration of the Red Canyon property. If Montezuma fails to fund and meet its obligations pursuant to the Exploration Agreement and underlying lease, it will forfeit its interest in the LLC to Miranda. The Underlying Lease The Red Canyon project consists of 254 unpatented lode mining claims covering approximately 5,248 acres along the Battle Mountain-Eureka Gold Trend in Eureka County, Nevada. On November 18, 2003, Miranda entered into a 20-year mining lease, with option to purchase, for the Red Canyon property with Red Canyon Corporation, for consideration payable in stages over 20 years. The lease may be extended for up to three years providing the conditions for extension are met. The purchase option becomes exercisable upon completion of a positive feasibility study and receipt of all governmental approvals, consents, licenses and permits to construct, develop or operate a mine on the property (the Purchase Conditions). If all of the Purchase Conditions are met, the property can be purchased, subject to a retained NSR royalty of 5%. The LLC will then have the option to buy two percentage points of the 5% NSR for US$1,000,000 per percentage point. About Miranda Miranda is a gold exploration company active in Nevada, Alaska and Colombia, 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 relationships with Agnico Eagle Mines Ltd., Prism Resources, and Montezuma Mines Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com 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 PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...012015.pdf Source: Miranda Gold Corp. (TSX Venture:MAD) http://www.mirandagold.com/s/Home.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc. MAD.VN: 0.075 (unch)
Miranda Gold Terminates Agreement to Sell Four Nevada Properties
Filing Services Canada XHTML - Fri May 01, 6:05AM CDT
MAD.VN: 0.075 (unch), EUU.VN: 0.005 (-0.005)
Miranda Gold Provides Corporate Update
Filing Services Canada - Tue Mar 03, 6:04AM CST
Miranda Gold Provides Corporate Update Vancouver, British Columbia (FSCwire) - Miranda Gold Corp. ("Miranda"
(TSX-V: MAD) is pleased to provide an update on its activities in Colombia and Alaska as well as the monetization of its remaining Nevada projects. In all, Miranda expects to see partner spending on Miranda projects of $1.5-$1.75 million in 2015. In addition to partner-funded projects, Miranda has a budget for generative work in Colombia that is outside of the Strategic Alliance and outside of the Department of Antioquia. Prospect Generator/Joint Venture Model Miranda continues to adhere to the Prospect Generator and Joint Venture model and as a result expects to see the following partners fund activities in projects in both North and South America. Agnico Eagle Mines Limited (AEM:TSX)(Agnico) will fund 70% (Miranda 30%) of programs under a Strategic Alliance agreement. Funds are allocated toward project generation in the Antioquia Department of Colombia. Miranda is operator. If a Designated Property is accepted into a joint venture by Agnico, Agnico could earn up to a 70% interest in that project by sole funding work programs until it earns its interest. Prism Resources Inc. (NEX RS.H) is funding an initial exploration program at the Cerro Oro project in the Caldas Department of Colombia. Miranda is also operator of this project. The 2015 program will comprise permitting and property wide geochemical and geologic surveys. Gold Torrent Inc. (GTOR:OTCBB) is designing and permitting a small high-grade underground mine at the Willow Creek, Alaska project. A new NI 43-101 Resource Estimate and Preliminary Feasibility Study will be highlights of this years program. Montezuma is hoping to fund a drill project at the Red Canyon property pending finalization of joint venture terms. Colombia Oribella Miranda submitted a Target Report to Agnico in the 4th quarter of 2015 as the first step towards possible acceptance of Oribella as a Designated Property pursuant to the Strategic Alliance agreement. Once a property is submitted, Agnico can: (1) accept it as a joint venture whereby they would be solely responsible for funding future exploration; (2) reject the project at which time Miranda can seek a 3rd party joint venture; or (3) request that specific additional work be done to demonstrate that the property has the size potential to be of interest to Agnico. Agnico has requested trenching and channel sampling to demonstrate continuity of mineralization (gold and copper) prior to considering Oribella as a Designated Property. This work is underway and once samples are assayed a revised report will be submitted to Agnico. Miranda also recently met with the president of the Agencia National de Mineria (ANM) to request assistance in obtaining a license for the northern part of the property which is currently held under a mining application. Assurances were given that the government would work with us on the license. Cerro Oro Cerro Oro is a low-sulfidation epithermal gold system that lies approximately 14 km southwest of the Marmato (14 M ounces) mine. Currently, Miranda is conducting a Consulta Previa or consultation with local and indigenous peoples near the project as a requirement of the Colombian mining law. Once this permit is obtained a mapping, trenching and a soil sampling program funded by Prism Resources will begin with the aim of delineating drill targets for the 2016 season. Prism Resources will also commission a technical report on the property. Pavo Real Red Eagle Mining recently terminated the joint venture agreement at Pavo Real in order to focus its time and treasury on permitting and building their San Ramon underground mine. Red Eagle drill tested several target areas and conducted property wide geochemical surveys, spending $4 million on the project. Soil sampling on the south end of the property produced a large untested gold anomaly and Miranda is seeking a new partner to drill test this area. Willow Creek, Alaska Gold Torrent plans to fast-track the Coleman deposit into production in 24 to 30 months. Initial production estimates are for 21,000 ounces of gold annually from the mining and milling of 150 tons per day. Gold Torrent anticipates achieving +80% recovery through gravity (tables and spiral concentrators) without the use of chemicals which should expedite permitting. Expected milestones for 2015 include: A new resource estimate based on independent review and modeling of deposit. This report is anticipated within two months and the expectation is that the resource will increase in size. Completion of a Preliminary Feasibility Study by mid-2015. This document will provide both Gold Torrent and Miranda shareholders insight into the capital and operating costs, cash flows and internal rate of return of mining the Coleman deposit. Mine planning. Gold Torrent is in the process of determining the optimum way to access the Coleman deposit for the least amount of capital. Life of Mine production scheduling. Mill process design and location. Initiate all aspects of permitting including baseline studies, water, air, and discussions with local communities and area stakeholders. Possible rehabilitation of the Enserch tunnel to access the Lucky Shot vein system for production and drilling. While no drilling is planned for 2015, modeling of the old underground workings, drill holes and underground samples will provide targets for 2016. Both companies agree that with the rehabilitation of the Enserch tunnel, targets can be best drilled from underground drill stations. Nevada Red Canyon Miranda is hoping to finalize a joint venture/purchase agreement with Montezuma Mines pending consent to assignment of the lease by the owner to Montezuma. Red Hill, Iron Point, Kibby Flats and Mustang Miranda has monetized its four remaining Nevada holdings in order to focus on Colombia. This decision was made not because we no longer believe Nevada will yield discoveries but rather we feel that we can make a significant discovery in Colombia sooner than in Nevada. We feel that Colombia, as a frontier jurisdiction with its rich mineral endowment, will provide the fastest route to a large grassroots discovery. On March 2, 2015, Miranda announced an agreement with European Uranium Resources Ltd. (EUU) whereby, subject to regulatory approval, Miranda will sell and or assign its interest in the four properties for an 8% equity interest in EUU (subject to its reorganization), the retention of a royalty interest (NSR) ranging from 1% to 2% in all four properties and the commitment by EUU of conducting a modest drill program on the Mustang property. Qualified Person Data disclosed in this press release have been reviewed and verified by Mirandas Executive Vice President Joseph Hebert, C.P.G., B.Sc. Geology, and Qualified Person as defined by National Instrument 43-101. About Miranda Miranda is a gold exploration company active in Nevada, Alaska and Colombia, 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 relationships with Agnico Eagle Mines Limited, Prism Resources, Gold Torrent Inc., and Montezuma Mines Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com 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. 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. Notice to US investors: 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 press release uses the terms measured resources, "indicated resources" and "inferred resources", which are estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. We advise investors that while those terms are recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize them. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. In addition, "Inferred resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies, except in certain exceptional cases. U.S. investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally minable. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...032015.pdf Source: Miranda Gold Corp. (TSX Venture:MAD) http://www.mirandagold.com/s/Home.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc. MAD.VN: 0.075 (unch)
Miranda Gold Sells Four Nevada Properties
Filing Services Canada - Mon Mar 02, 6:04AM CST
Miranda Gold Sells Four Nevada Properties Vancouver, British Columbia (FSCwire) - Miranda Gold Corp. ("Miranda"
(TSX-V: MAD) has on February 27, 2015, signed a purchase and sale agreement with European Uranium Resources Ltd. (EUU) to sell a 100% interest in Mirandas Mustang, Iron Point and Kibby Flat projects (the Properties) and the assignment and assumption of Mirandas mining lease on the Red Hill project (the Lease), all located in Nevada (the Agreement). Prior to closing the Agreement, EUU intends to consolidate its shares on an up to 4 old for 1 new basis and change its name to Reyes Resources Inc. Immediately after the shares are consolidated, EUU intends to concurrently settle certain debts with shares, close a non-brokered part-and-parcel private placement financing to raise a minimum of $1,000,000 and up to $2,000,000 (the Ancillary Transactions) and concurrently close the Agreement. Closing of the Agreement is conditional on closing of the Ancillary Transactions. On closing the Agreement, EUU will issue to Miranda 8% of the then issued and outstanding shares of EUU after that issue, and following the closing of the Ancillary Transactions. On closing the Agreement Miranda will transfer the Properties to EUU and execute the assumption and assignment of the Lease to EUU. Miranda will retain a 2% net smelter returns royalty (NSR) on each of the Mustang, Iron Point and Kibby Flat projects and a 1% NSR on the Red Hill project. Pursuant to the Agreement, EUU will be obligated to complete a drill program on one of the four properties within the first agreement year at a cost of not less than US$150,000 and payment of the May 27, 2015 advance minimum royalty payment pursuant to the Lease. Ken Cunningham, President and CEO of Miranda stated, Miranda had decided to try and monetize its remaining Nevada holdings in order to focus on Colombia. This decision was made not because we no longer believe Nevada will yield discoveries but rather we feel that in the current market we need to focus on one jurisdiction and we believe that the immature nature of Colombian exploration coupled with its rich mineral endowment will provide the fastest route to success for Miranda. This Agreement allows Miranda to retain the upside in the Properties and the Lease by an equity interest in EUU and the retention of a royalty interest in all four properties. About Miranda Miranda is a gold exploration company active in Nevada, Alaska and Colombia, 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 relationships with Agnico Eagle Mines Ltd., Prism Resources, and Montezuma Mines Inc. For more information related to Miranda: Joe Hebert, Executive Vice President 775-340-0450 www.mirandagold.com 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. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...022015.pdf Source: Miranda Gold Corp. (TSX Venture:MAD) http://www.mirandagold.com/s/Home.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2015 Filing Services Canada Inc. MAD.VN: 0.075 (unch)
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