Magellan Minerals is Pleased to Announce that National Bank and
Mackie Research have Initiated Coverage

Magellan Minerals Ltd. (TSX-V: MNM) ("Magellan") is pleased to announce that Mackie Research Capital and National Bank Financial have initiated research coverage on the Company. Should you wish to obtain a copy of either report, please contact:

Mackie Research Dale Mah, (604) 662-1840 dmah@mackieresearch.com

National Bank Financial Shane Nagle (416) 869-7936 Shane.nagle@nbfinancial.com

Magellan Minerals Ltd. (TSX-V: MNM) is a well financed Canadian-based junior exploration company focused on mineral exploration and development in the state of Para in northern Brazil. The Company has interests in a number of properties in the Tapajos region which has a historic gold production estimated at 20-30Moz of gold. The Company has two advanced stage gold projects. The current resource estimate numbers from the two key properties include: Cuiu Cuiu: 1.2Moz Inferred (31Mt @ 1.2g/t) + 0.1Moz Indicated (3.4Mt @ 1.0g/t) and Coringa: 0.3Moz Indicated (1Mt @ 8.5g/t) + 0.1Moz Inferred (0.3Mt @ 9.3g/t).


Thank you for your interest in Magellan Minerals.


Yours Sincerely,



Alan Carter, President and CEO
Tel: 604.676.5660
Email: info@magellanminerals.com