MRG Outcrop Silver & Gold Corporation

Miranda Gold Corp. (“Miranda”) (TSX-V: MAD) is pleased to announce its exploration funding partner at Red Canyon, Montezuma Mines Inc. ("Montezuma"), a wholly owned subsidiary of CMQ Resources Inc. (TSX-V:NV), has received all assays from its 2012 drill program completed in early December. Montezuma tested three target areas with a total of six reverse circulation (RC) drill holes totaling 7,435 feet (2,266 m). Montezuma is encouraged that all its 2012 drill holes intersected anomalous gold associated with altered rock and plans to resume drilling during the 2013 field season.

Montezuma’s drilling tested the following targets:

Ice: Vertical holes MR12-01 and -02 were collared about 310 ft and 425 ft, respectively, southeast of MR10-01 which intersected 20 ft (6.1 m) of 0.086 oz Au/ton (2.955 gm Au/t). Both holes intersected anomalous gold greater than 0.02 g Au/t.

The Hole: This previously undrilled target derives from a strong resistivity low with approximate plan dimensions of 2,000 x 2,600 ft (610 x 790 m). Montezuma interpreted the resistivity low as permissive for decalcified and clay-altered rock possibly associated with gold mineralization. One vertical hole (MR12-03) and two angle holes (MR12-04, west-directed, and MR12-05, east-directed) were drilled from the same pad within the resistivity low. All three holes intersected strongly clay-altered and hematite-stained rock with anomalous gold intercepts averaging over 0.02 g Au/t.

Wall: At Wall rock chip samples with up to 0.070 oz Au/ton (2.4 g Au/t) coincide with a geophysically inferred fault-bounded horst block that extends 5,000 ft (1,500 m) from Wall northwest through the Ice target area. Vertical hole MR12-06, which was collared on the west side of the horst block, was terminated at 695 ft (211.8 m) without having intersected the horst-bounding fault or the favorable lower-plate (of the Roberts Mountains Thrust), carbonate-host stratigraphy. MR12-06 intersected three zones with anomalous gold greater than 0.02 g Au/t.

The following table contains all gold intercepts greater than 10 ft (3 m) thick that average over 0.02 g Au/t.

                                         

Hole ID

      Interval       Length       Interval       Length       Grade (ft) (ft) (m) (m) (g/t)                                         Au Ice                                         MR12-01       350-360       10       106.7-109.7       3       0.028 MR12-02       340-350       10       103.6-106.7       3       0.026 The Hole                                         MR12-03       150-165       15       45.7-50.3       4.6       0.106         355-370       15       108.2-112.8       4.6       0.056 MR12-04       490-510       20       149.4-155.4       6.1       0.022         605-625       20       184.4-190.5       6.1       0.024         645-665       20       196.6-202.7       6.1       0.065         685-700       15       208.8-213.4       4.6       0.115 MR12-05       450-490       40       137.2-149.4       12.2       0.040 Wall                                         MR12-06       225-235       10       68.6-71.6       3       0.021         340-350       10       103.6-106.7       3       0.040         495-505       10       150.9-153.9       3       0.023        

Original data are in feet and ppm (g Au/t). Some averagesinclude an internal interval