The Miner's Ring is a "sample" item provided by the Baubles mod. It was craftable in earlier versions of Thaumcraft, but the recipe has since been disabled.
It is a ring that gives you the Haste effect when right-clicked. You can also right-click it to give yourself Haste forever and give it to your friend so he can have it too. The ring does not have durability and does not disappear when used. (can no longer be crafted)