September 2, 1998 Eight La Rastra Concessions Terminated Symbol: MAD.V
Form 20F: 0-27760
Miranda Industries Inc. wishes to announce that it has terminated its option on eight of the La Rastra concessions, Sinaloa State, Mexico.
Miranda had options on nine concessions in the La Rastra area of Sinaloa. During 1997 Eldorado Gold and its Mexican subsidiary, Prospectores Minerales Mexico, S.A. de C.V. had the option to earn an interest in six of the nine concessions. During their tenure as operators, Prospectores Minerales constructed six trenches and drilled twenty-one reverse circulation holes, before terminating the joint venture. Results of this exploration program concluded that within the El Saltito zone on the Maria Fernanda concession there is an estimated resource of 49,700 ounces of gold, with potential to be increased at depth and along strike. Potential to increase the resource also exists on the Maria Fernanda at the sub-parallel Platanitos zone and the El Papayal zones.
Miranda will continue its option on the Maria Fernanda concession, but has terminated the remaining eight concession options.
ON BEHALF OF THE BOARD
"Dennis L. Higgs"
Dennis L. Higgs, B. Comm
President
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