Miranda Gold has signed an exploration agreement with option to joint venture with Agnico-Eagle, whereby Agnico may earn up to a 70% interest in the Ester Dome pro-
ject in the Fairbanks mining district of Alaska. Agnico can earn a 51% interest in the project by spending $4 million in qualifying expenditures over a five-year period and may then elect to earn an additional 19% interest, for a total of 70%, by completing a feasibility study or by spending an additional $10 million at a rate of no less than $1 million per year.
In 2011, exploration at Ester Dome will focus on enhancing and testing drill targets within a 7,000-ft by 1,200-ft gold-in-soils anomaly developed by Miranda in 2010. Miranda and Agnico both believe the source of this gold anomaly could be a buried gold-bearing intrusion. Agnico plans to collect an additional 350 soil samples using a mechanized auger as a first phase to verify and expand the soil anomaly. Agnico also anticipates drilling 4,500 ft of core in six to eight holes, subject to drill rig availability, and Agnico may conduct Induced Polarization geophysical surveys to better define drill targets.