Mining Companies: Miranda Gold Gets 'Angel Wing' Funding
September 23, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Miranda Gold Corp. (TSX Venture: MAD) said it has signed an exploration and option to form a joint venture agreement with Ramelius Resources Ltd. (OTC: RMLRF) on Miranda’s Angel Wing project. Under the terms of the agreement, Ramelius will initially fund US$4 million in qualifying expenditures over a five-year period.
Ramelius can then earn a 70% interest in the Angel Wing project by completing a positive feasibility study over a four-year period or by annually funding $1 million in exploration and development during the next 10 years.
The first year’s commitment of $350,000 is an obligation and includes a minimum of 4,000 ft (1,219 m) of drilling, according to the company.
Canada-based Miranda Gold is a gold exploration company active in Nevada, Alaska and Colombia.
Miranda has ongoing partnerships with Piedmont Mining Company Inc., Montezuma Mines Inc., NuLegacy Corporation, Red Eagle Mining Corporation, Ramelius Resources Ltd., and SIN Holdings Ltd.
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