MNM

Magellan Minerals Ltd. (TSX VENTURE:MNM)(OTCQX:MAGNF) ("Magellan") is pleased to
announce the commencement of an exploration diamond drilling program at its Cuiu
Cuiu project in northern Brazil.


Three separate and previously untested targets will be drill tested as part of
this program. The primary objectives of this drill program are specifically as
follows:




--  to test the down dip continuity of high grade gold mineralization at the
    previously untested Ivo target located 800m north of the Moreira Gomes
    gold deposit. Recent surface sampling at Ivo returned 2m @ 104 g/t gold
    and 5m @ 54.8g/t gold (see press releases dated 11th October 2012 and
    23rd October 2012) 
--  to test the previously untested Ratinho North gold-in-soil anomaly which
    is located approximately 9km NNW of the Central gold deposit. Ratinho
    North extends in a NW-SE direction over approximately 4km and is
    coincident with a major structure and a pronounced magnetic low 
--  to test the previously untested Ratinho South gold-in-soil anomaly which
    is located approximately 8.5km NW of the Central gold deposit. Ratinho
    South extends in a NW-SE direction over approximately 2.5km 



Cuiu Cuiu is located 180km SW of the town of Itaituba in northern Brazil and
previously produced an estimated 1.5 - 2.0Moz of alluvial gold. On 8th March
2011, Magellan announced an initial resource for the Central and Moreira Gomes
deposits at Cuiu Cuiu of 3.4Mt @ 1.0g/t gold (100,000oz) in the Indicated
category and (31Mt @ 1.2g/t gold (1,200,000oz) in the Inferred category.


Recent trado soil sampling of the overburden at Ivo down to a maximum of 10m
depth and east of the surface workings, has revealed abundant quartz and highly
altered granitic chips suggesting that the Ivo zone extends an additional 200m
to the east bringing the known strike length on the zone to 450m. The zone
remains open to the east and west.


The current drill program comprises a minimum of 1,500m and is expected to be
completed prior to the end of January 2013. Results are expected early in the
New Year.


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, 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.


News Release #2012-19

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

Magellan Minerals Ltd. (TSXV:MNM)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024

Magellan Minerals Ltd. (TSXV:MNM)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024