MNM

Magellan Minerals Ltd. (TSX VENTURE:MNM)(OTCQX:MAGNF) ("Magellan") is pleased to
announce the results of follow up trench sampling at the recently identified Ivo
prospect located at the Cuiu Cuiu project in the state of Para in northern
Brazil. The Cuiu Cuiu project currently contains 3.4Mt @ 1.0g/t gold (100,000oz)
of Indicated resources and 31Mt @ 1.2g/t gold (1,200,000oz) of Inferred
resources (see press release dated 8th March 2011).


Highlights include:-



--  5m @ 54.8g/t gold in a trench located approximately 110 m west and along
    strike from the area with previously reported gold values of 2m @ 104g/t
    gold. The mineralized zone remains open along strike to the east and
    west and is also open in terms of width 
--  15m @ 2.3g/t gold including 5m @ 5.7g/t gold in a trench located 35-45m
    immediately north of the exposed surface workings at Ivo 
--  10m @ 1.0g/t gold including 5m @ 1.7g/t gold in a trench 40-50m south of
    the exposed surface workings at Ivo 



The results reported here are from three trenches which were designed to follow
up the recently released channel sample results from surface workings at the Ivo
target which is located approximately 800m north of the Moreira Gomes gold
deposit (see press release dated 11th October 2012). Trenches were developed
immediately to the north, south and west of the main east-west trending
mineralized structure at Ivo in order to further test the continuity and width
of the mineralization at Ivo. 


The identification of 5m @ 54.8g/t gold in a trench 60m west of the Ivo showing
extends the Ivo zone an additional 60m to the west and increases the total
exposed strike length from 240 to 300m. These results are also located
approximately 110 m west and along strike from the area with previously reported
gold values of 2m @ 104g/t gold. The zone remains open both to the east and west
and to the north since the high grade mineralization was returned from the most
northerly sample in the trench (see map on website).


Of the trenches developed to the north and south of the Ivo showing, the most
northerly trench returned 15m @ 2.3g/t gold including 5m @ 5.7g/t gold
suggesting that the mineralized zone at Ivo may extend an additional 35-45m in
terms of width to the north of the exposed surface workings. Similarly, the
trench developed to the south of the Ivo showing returned 10m @ 1.0g/t gold
including 5m @ 1.7g/t gold located 40-50m south of the exposed surface workings.
This last sample was returned from the most southerly part of the trench and
suggests that the zone remains open in terms of width to the south.


The results returned from the trenching suggest that the mineralized zone at Ivo
could be 125m in width or at the very least, comprised of three parallel
mineralized zones. The sheeted vein / stockwork mineralization exposed on
surface is the most intense so far mapped on surface at Cuiu Cuiu.


Further work at Ivo will focus on additional trenching and trado sampling along
strike from the surface workings. Trado work is also in progress at the Ratinho
and Ratinho South gold-in-soil anomalies which are located 8.5 to 9km NW of the
Central deposit. Magellan is currently awaiting quotations for a diamond drill
program to test these previously untested targets.


This press release was reviewed by Guillermo Hughes, B.Sc., a member of the AIG
and the AUSIMM, a qualified person in compliance with National Instrument 43-101


Magellan Minerals (TSX VENTURE:MNM)(OTCQX:MAGNF) is a TSX Venture Exchange
listed exploration and development company with two advanced gold properties in
the Tapajos Province of northern Brazil. The Cuiu Cuiu project contains
100,000oz of gold in the Indicated category (3.4Mt @ 1.0g/t gold) and
1,200,000oz of gold in the Inferred category (31Mt @ 1.2g/t gold). The Coringa
project contains Measured and Indicated resources of 561,000oz of gold (3.2Mt @
5.5g/t gold) and Inferred resources of 534,000oz of gold (5.5Mt @ 3.0g/t gold).


This news release may contain forward-looking statements including but not
limited to comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, the preparation of a feasibility study on the project, etc.
Forward-looking statements address future events and conditions and therefore,
involve inherent risks and uncertainties. Actual results may differ materially
from those currently anticipated in such statements. Readers should not assume
that the company's plans to prepare a feasibility study mean that a feasibility
study can or will be prepared. There is no guarantee that a feasibility study
will be prepared or, if prepared, that it will be commenced in the timeframe set
out in this news release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Magellan Minerals Ltd.
Alan Carter
President and CEO
604.676.5663
info@magellanminerals.com
www.magellanminerals.com

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