Miranda Gold Corp. has established a reputation as a high-quality project generator attracting a variety of mining companies to help advance the exploration on our properties. By successfully leveraging our technical expertise into joint venture partnerships we lower the risk of early stage exploration and preserve shareholder value.
Joint venture partners are responsible for funding all exploration on those projects under agreement in exchange for a majority interest in the property. The Company's Joint Venture model is unique in that they require their partners to continue spending money until a feasibility study is complete, otherwise forfeiting their interest in the project. This protects the Company from a partner deciding to shelve the project due to shifted priorities or lack of financing.
Below is a list of our current partners:
Agnico-Eagle (USA) Limited is a subsidiary of Agnico-Eagle Mines Limited a mining company listed on the Toronto Stock Exchange.
Miranda has an October 1, 2010, option agreement with Agnico on the Ester Dome project. Agnico may earn a 51% interest in Ester Dome by expending US$4,000,000 over five years after which they shall have the option and right to earn an additional 19% interest in the project for a total of 75% interest by either funding 100% of exploration costs required to complete a bankable feasibility study within five years after earning the first 51% interest at a rate of US$1,000,000 per year or by spending an additional US$10,000,000 within 10 years.
Montezuma Mines Inc. is a subsidiary of CMQ Resources, a mineral exploration company focused principally on the exploration of its Montezuma property in Nevada, on the advancement of its earlier stage exploration property Vasquir, also in Nevada, and the Kuusamo property in Finland.
In August 2008 Montezuma Mines signed an exploration funding agreement on Miranda Gold's Red Canyon project in 2008 whereby CMQ can earn a 60% interest by funding $4,000,000 over five years. Montezuma may then elect to earn an additional 10% by completing a bankable feasibility study or by funding $10,000,000 in additional exploration.
NuLegacy Gold Corporation - www.nulegacygold.com
NuLegacy Gold Corporation is a Nevada focused gold exploration company. It is financed and operated by a management and corporate governance team that have successfully identified, discovered and developed numerous gold resources. NuLegacy has under option Miranda's 45 square mile Red Hill Prospect in the well established and prolific Cortez gold trend and the 35 square mile Wood Hills South Prospect in the newly emerging Pequop gold trend of Nevada. NuLegacy's stated objective is to discover and vend significant multi-million ounce gold deposits. It utilizes highly focused exploration programs employing sophisticated techniques for targeting the follow-up drilling to previous exploration successes.
NuLegacy has the option to earn a 60% interest in Miranda's Red Hill and Coal Canyon properties by funding $5,500,000 in exploration work and drill commitments over a five-year period.
Red Eagle Mining Corporation
Red Eagle is a gold exploration and development company (TSX-V: RD). The Chairman and CEO of Red Eagle is Ian Slater who is also a director of Miranda. Ken Cunningham, the CEO of Miranda, has recently been appointed as a director of Red Eagle. Red Eagle is focused on the exploration and development of gold and base metal projects in Latin America.
Red Eagle has a 70% interest in the Pavo Real property in Colombia and must fund US$4,000,000 in qualifying expenditures over a four year period, followed by either completing a positive feasibility study within the following eight years or by annually funding $1,000,000 in exploration and development during the next 10 years. An optional 10% interest, for a total of 80%, can then be earned if Red Eagle elects to fund all costs associated with placing the project into production. Red Eagle has a 70% interest in the Cajamarca property in Colombia and must fund US$4,000,000 in qualifying expenditures over a five year period to retain 51% and may then fund $1,000,000 in exploration and development during the next 10 years to retain the remaining 19%.
Ramelius Resources Ltd.
Ramelius is a successful Australian based gold miner and active explorer, currently producing gold from its 100% owned high grade Wattle Dam underground gold mine near Kalgoorlie in Western Australian.
Miranda Gold and Ramelius have an exploration funding agreement on the Big Blue project. Under the terms of the agreement, signed in May 2010, Ramelius must spend US$4,000,000 over a five-year period as an initial expenditure requirement. Once Ramelius has completed the initial expenditure requirement they shall have the option and right to earn a vested 70% interest in Big Blue by either funding 100% of exploration costs required to complete a bankable feasibility study or by spending an additional $10,000,000 within 10 years.
In August 2010 Ramelius Resources signed an exploration funding agreement on Angel Wing. Under the terms of the agreement, Ramelius will fund US$4,000,000 in qualifying expenditures over a five-year period as an initial exploration expenditure. Ramelius can then earn a 70% interest in Angel Wing by completing a positive feasibility study over a four-year period or by annually funding $1,000,000 in exploration and development during the next 10 years.