Mr. Ken Cunningham reports

MIRANDA GOLD SELLS FOUR NEVADA PROPERTIES

On Feb. 27, 2015, Miranda Gold Corp. signed a purchase and sale agreement with European Uranium Resources Ltd. to sell a 100-per-cent interest in Miranda's Mustang, Iron Point and Kibby Flat projects and arrange the assignment and assumption of Miranda's mining lease on the Red Hill project, all located in Nevada.

Prior to closing the agreement, EUU intends to consolidate its shares on an up to four-old-for-one-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-million and up to $2-million, 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 per cent 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-per-cent net-smelter-returns royalty on each of the Mustang, Iron Point and Kibby Flat projects and a 1-per-cent 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 $150,000 (U.S.) and payment of the May 27, 2015, advance minimum royalty payment pursuant to the lease.

Ken Cunningham, president and chief executive officer 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."