MMH - Miranda Mineral Holdings Limited - Miranda granted mining right for

MMH - Miranda Mineral Holdings Limited - Miranda granted mining right for       
Burnside coal project                                                           
Miranda Mineral Holdings Limited                                                
(Incorporated in the Republic of South Africa)                                  
(Registration number: 1998/001940/06)                                           
Share code: MMH & ISIN: ZAE000074019                                            
("Miranda" or "the group")                                                      
Miranda granted mining right for Burnside coal project                          
Miranda Mineral Holdings (JSE:MMH) today announces that its subsidiary (Street  
Spirit Trading 54 (Pty) Limited), has been granted a mining right in terms of   
section 29(a) of the Minerals and Petroleum Resources Development Act (Act 28 of
2002) for the Burnside coal project ("Burnside") near Dundee in KwaZulu-Natal.  
The Burnside Mining Right has been granted over four farms, namely; portions of 
Burnside 3287, Izemfene  A 9146, Izemfene B 8802 and portions of Davelsberg 3286
covering approximately 4540 hectares.                                           
With the mining right granted, Miranda plans to complete all the necessary steps
to ensure its execution. Following the execution of the mining right, the       
Company will move rapidly to ensure that mining of the open-pittable portion of 
the resource can be commenced within the near future.                           
Mining of the underground portion of the Burnside resource requires some        
additional mine design work, for which a consultant is due to be appointed      
shortly. The Company hopes to have the underground portion of Burnside ready for
production by the end of 2013.                                                  
This will add further momentum to Miranda`s strategic shift from mineral        
resource holding company to coal explorer/miner. First coal production for the  
re-aligned company is expected to flow from its Sesikhona project, also in the  
Dundee area, before the end of 2012.                                            
Street Spirit Trading 54 (Pty) Ltd                                              
This subsidiary is owned by; Miranda Coal (Pty) Ltd (77%) and Bespaar Trust     
(23%).                                                                          
Burnside project                                                                
As per Miranda`s most recent integrated report available on the Company`s       
website, Burnside is estimated to contain at least 23.3 million tons of coal in 
the indicated category. Caracle Creek International Consulting (Pty) Ltd (CCIC) 
has been mandated to update the geological reports for the Burnside project     
using all available data and this work is due to be completed shortly.          
Burnside contains a high-grade bituminous coal, suitable for coking, as well as 
a middlings product suitable for sale as a "low-spec coal", for which a market  
is readily available. Miranda is also considering the construction of a coal    
processing plant on site to take full advantage of the high-grade nature of     
Burnside`s coal resource, and this decision will be made in the light of results
of studies that are currently underway.                                         
Background                                                                      
Burnside Colliery began operating in 1909. It became a section of what was then 
Trans Natal Coal`s Northfield Colliery (now BHP Billiton`s) in 1956, and was a  
supplier of coking coal to Iscor`s Newcastle works. Following final closure in  
1986, a number of mining blocks remained un-mined and it is these resources that
Miranda aims to exploit.                                                        
Disclaimer                                                                      
All statements in this media release, other than historical facts, that address 
exploration activities and mining potential are forward-looking statements.     
Although Miranda believes the expectations expressed in such forward-looking    
statements are based on reasonable assumptions, such statements should not in   
any way be construed as guarantees of future performance. Factors that could    
cause developments to differ materially from those expressed include exploration
results, technical analysis and lack of availability to the company of necessary
capital to progress its projects. The company is subject to specific risks      
inherent in the exploration and mining business and general economic and        
business conditions.                                                            
Centurion                                                                       
31 May 2012                                                                     
Sponsor:  PricewaterhouseCoopers Corporate Finance (Pty) Ltd                    
Date: 31/05/2012 14:42:01 Supplied by www.sharenet.co.za                     
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