Miranda Gold and Agnico-Eagle enter agreement for Ester Dome Project

Miranda Gold Corp. on Tuesday said that it had signed an exploration agreement with option to joint venture with Toronto Stock Exchange listed Agnicokeene gold ore crusher for sale-Eagle Limited, a wholly owned subsidiary of Agnico-Eagle Mines Limited, for Miranda's Ester Dome project in Alaska.

In the agreement, Agnico would possibly earn up to a 70% interest in the Ester Dome project located in the Fairbanks mining district of Alaska. "Under the terms of the Agreement, which replaces a Letter of Intent announced on October 14, 2010, Agnico can earn a 51% interest in Ester Dome by spending US$4,000,000 in qualifying expenditures over a five year period. Agnico may then elect to earn an additional 19% interest, for a total of 70%, by completing a feasibility study or by spending an additional US$10,000,000 at a rate of no less than US$1,000,000 per year," the company said on its website.

Upon signing the Agreement, Agnico agreed to pay Miranda US$30,000 and is obligated to fund a first year exploration budget of US$500,000.