Miley Cyrus' engagement ring she received from Liam Hemsworth when he proposed to her last year.

The former Hannah Montana star had received a 3.5 carat-diamond ring from jeweler Neil Lane, reportedly worth a whopping $250,000. The dazzling ring is handcrafted in 18-karat gold with diamond floral motifs.

Despite their recent break-up, Liam Hemsworth reportedly wants to remain friends with Cyrus.

"Liam wants Miley to keep the ring," a source told RadarOnline. "He wouldn't ask for it back. Liam told Miley to keep it and do with it what she wanted. He told her to keep it as a memento of their love affair. When Liam bought that ring, he truly believed he would be spending the rest of his life with her. Now he realises they are both just too young to be ready for such a big commitment."

The latest report comes after a photo of the Australian actor kissing Mexican singer/actress Eiza Gonzalez went viral today.

The Hunger Games actor and Gonzalez reportedly met in Las Vegas, days before the official announcement confirming that Miley Cyrus and Liam Hemsworth's engagement has been called off.

The 23-year-old was spotted kissing Gonzalez yesterday, just days after the announcement. The pair was spotted locking lips outside of Gonzalez's apartment complex in Beverly Hills on Tuesday afternoon. The actor had his arms around her and the two seemed very close, according to the photo here.

Hemsworth was reportedly dropping off some luggage for Gonzalez yesterday afternoon and he only stayed for five minutes to chat to her before they locked lips.

Hemsworth and Cyrus officially confirmed that they have ended their 15-month engagement on Monday after four years together. Both representatives did not state any reason for the split.