Peter Ramage's side progressed in the last 16 following a thrilling 3-2 victory against Colchester United at St. James' Park and have been rewarded with an away tie against the Seasiders, which is set to take place at Bloomfield Road (kick-off 7pm GMT).
United's youngsters reached the quarter-finals of last year's competition, losing to eventual winners Aston Villa, and Miley - who has captained the Toon teenagers during this term's encouraging cup run - intends to continue their passage in the competition.
"Everyone's really looking forward to it," the 18-year-old central midfielder told nufc.co.uk."The Youth Cup games are what everyone looks out for at the start of the season, seeing who you'll get in the third round.
"To get through to the fifth round has been great and all the lads have done very well. We're looking towards doing better than what we did last year and get into the quarter-finals. We want to go one better or even get to the final.
"A few of the lads have already been there and done it last year which will help us a lot. Every game you play is always tough and difficult, whoever you come up against.
"It'll be a good experience (playing at Bloomfield Road). It makes it a bit more professional playing at a stadium and you get the experience of what it can be like playing first-team football.
"We want to try eliminate late goals so there isn't as much pressure at the end. Trying to get early goals will be important and make it more comfortable and, hopefully, going on to win the game without being under pressure at the end like we have been in the last two cup games."
Following their 3-2 away win at West Ham United in the third round, the young Magpies defeated Colchester in front of 1,279 spectators, which included Newcastle head coach Eddie Howe.
After playing their cup ties behind-closed-doors during last season's campaign, Miley expressed his delight in playing in front of a four-figure crowd and has relished being handed the captain's armband for United's youngsters.
"It was absolutely unbelievable for everyone," the Gateshead-born teenager recalled. "It's something you dream of as a kid, especially as a lot of the group are Geordies. To get the win in front of a big crowd was brilliant!
"It was disappointing that there were no crowds for the games at St. James' Park last year but to get through to the quarter-finals was still unbelievable.
"I feel like have a bit more responsibility of the group in being, I suppose, the leader. I've been very proud of the lads during the competition, especially in the last round when we had a few injuries and the younger lads were playing, who hadn't played as much."
Newcastle will be aiming to lift the prestigious trophy for a third time in the club's history after tasting success in 1962 before a squad including Paul Gascoigne and current under-18s assistant coach Iain Bogie lifted the cup in 1985.
Miley added: "We haven't won this cup for a number of years. Boags (Iain Bogie) still goes on about winning it during our training sessions, reminding everyone of how good it feels. He still remembers everything from it and we're trying to be the ones that can do that.
"It would be massive to repeat a similar run. When we're older, it's something we'd all remember but it can also be something the fans and club can look on."
