MAGELLAN MINERALS (MNM.TSXV)

MAGELLAN MINERALS HIGHLIGHTS

20-30Moz Historic Gold Production at Brazilian Properties – Magellan Minerals as interests in a number of properties in the Tapajos region of Para State, Brazil, which has a historic gold production estimated at close 30 million ounces.

Cuiú Cuiú, Growing Gold Exploration– Cuiú Cuiú is the company’s key property and arguably the most famous garimpo in the Tapajós, with estimated historic gold production on the order of 1.5M to 2M ounces. Magellan’s property holdings cover the entire district and consist of two exploration licenses, four license applications and 76 PLGs (artisinal mining claims) totaling over 47,000 hectares.

367,724 Ounce Resource at Coringa – Global Resource Engineering Ltd. completed the independent NI 43-101 mineral resource estimate on Coringa in October 2009. The resource includes 269,500 measured and indicated ounces and 98,224 inferred ounces.

Joint Venture with ECI Exploration and Mining – Magellan signed a binding letter of intent to form a 50/50 joint venture with ECI Exploration and Mining Inc. whereby each company will contribute their respective mineral claims in southern Mato Grosso and fund a minimum of $250,000 in exploration expenditures during the first 12 months.

MAGELLAN MINERALS RECENT DEVELOPMENTS

Hits New Gold Zone April 12, 2011 Magellan Minerals reported that it has identified a new gold-bearing structure 3.3 kilometers south of the previously known mineralized structures at its Coringa gold deposit. This discovery adds an additional 45% to the current strike length of 7 kilometers. Magellan is presently undertaking numerous activities in the area, including: soil sampling, additional reconnaissance sampling, mapping and road construction.

Expands Resource Potential at Coringa April 5, 2011 Magellan Minerals reported preliminary results from several recently completed trenches at the Valdette soil anomaly, located 500 meters east of the main gold-bearing structure at the Coringa project in Para, Brazil. The surface results from the Valdette anomaly indicate the presence of a new gold- bearing structure at Coringa which is likely responsible for the 3.8km long gold-in-soil anomaly.

Initial Resource Estimate at Cuiú Cuiú March 8, 2011 Magellan Minerals announced an initial NI 43-101 compliant resource estimate for its Cuiú Cuiú Project in Para State, Brazil. The resource estimate covered the Central and Moreira Gomes zones, and the total resource estimate for both zones is 1.18 million ounces of inferred material averaging 1.2 grams per tonne (g/t) gold and 0.11 million ounces of indicated material averaging 1.0 g/t gold.

MAGELLAN MINERALS SHARE PERFORMANCE

MNM.TSXV HAS SHINED

S&P 500Magellan Minerals has outperformed the broader market by a factor of ten this year.

GoldThe Canadian-based gold explorer has provided investors with considerable leverage to the gold price as it advances its Brazilian gold properties.

GDXYear-to-date Magellan has substantially outpaced the world’s largest gold stocks ETF.

GDXJMagellan has posted a return far exceeding that of a widely-held basket of small- and mid-cap gold stocks.

MNM.TSXV VS BENCHMARKS IN 2010

Premier continues to outperform benchmarks

MAGELLAN MINERALS IN THE NEWS

LOCATED IN TOP MINING JURISDICTION PARA STATE, BRAZIL

KEY UPCOMING CATALYSTS

2011
Well-Financed to Fund Exploration
Magellan Minerals has no debt and recently raised C$23 million through a bought deal private placement, the net proceeds of which will be used to fund exploration of the company’s mineral projects and for general working capital purposes.

2011 Mineral Rights Purchase in Brazil
The Canadian-based gold explorer is expanding its presence in Brazil, evidenced most recently by the company increasing its interest in certain mineral rights from Brasil Central Engenharia Ltda to 35% from 25.5%.

2011 Drill Results at Cuiú Cuiú and Coringa
Gold exploration work carried out by Magellan at Cuiú Cuiú has identified five major gold soil anomalies (greater than one square kilometer) as well as several minor anomalies along a mineralized structure that stretches for more than 17km from southeast to northwest across the company’s license area. Magellan is currently engaged in a 3,000 meter diamond drill program designed to further expand the existing resource at Coringa.