MNM

Magellan Minerals Ltd. (TSX VENTURE:MNM)(OTCQX:MAGNF) ("Magellan") is pleased to
announce that it has engaged a group of prominent mining industry consultants
led by Ausenco to complete a feasibility study on the Coringa gold project in
northern Brazil. 


Highlights



--  Ausenco Solutions Canada Inc. (Ausenco), was chosen to lead the study
    based on their vast process and infrastructure capabilities worldwide,
    including projects in Brazil, such as the Tucano Gold Project and the
    Suraca project. The Ausenco office in Vancouver will be responsible for
    the work, supported by staff in Belo Horizonte. 
    
--  Also included as part of the team: 
    
    --  Snowden Mining Industry Consultants (Snowden) of Vancouver, who will
        be responsible for Resource and Reserve estimates and mine design. 
        
    --  Terra Meio Ambiente (Terra) of Belem, Brazil, who will manage the
        environmental components and permitting aspects of the study. Terra
        has been involved in previous environmental and permitting work for
        this project, providing continuity in this critical area. 
        
    --  Kovit Engineering Limited (Kovit) of Sudbury and Belo Horizonte, who
        will design and cost the tailings and backfill components of the
        project. 
        
    --  Deswik Mining Consultants (Deswik) of Vancouver, who will be
        responsible for mine layout and scheduling, using their industry
        leading mine design software, which may ultimately be used at the
        Coringa operation should a construction decision be made. 



The above group will be supported by Magellan staff in Vancouver and Brazil, and
it is expected that the study will be complete near the beginning of Q4 2013.


Qualified Person

John Kiernan P.Eng, Magellan's VP Project Development and a "qualified person"
within the definition of that term in NI 43-101, has reviewed the technical
information contained in this news release.


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 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); see news release dated
March 22, 2012. 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); see news release dated March 8, 2011. 


Cautionary Note to U.S. Investors Regarding Reserve and Resource Estimates: 

This press release uses the terms "measured resources", "indicated resources",
and "inferred resources" which are defined by the Canadian Institute of Mining,
Metallurgy and Petroleum, and are required to be disclosed in accordance with
Canadian National Instrument 43-101 (NI 43-101). The disclosure standards in the
U.S. Securities and Exchange Commission's (SEC) Industry Guide 7 normally do not
recognize information concerning "measured mineral resources", "indicated
mineral resources" or "inferred mineral resources" or other descriptions of the
amount of mineralization in mineral deposits that do not constitute "reserves"
by U.S. standards in documents filed with the SEC. In addition, resource that
are classified as "inferred mineral resources" have a great amount of
uncertainty as to their existence and great uncertainty as to their economic and
legal feasibility. It cannot be assumed that all or any part of an "inferred
mineral resource" will ever be converted into reserves. Under U.S. standards,
mineralization may not be classified as a "reserve" unless the determination has
been made that the mineralization could be economically and legally produced or
extracted at the time the reserve determination is made. Disclosure of
"contained ounces" in a resource is permitted disclosure under Canadian
regulations; however, the SEC normally only permits issuers to report
mineralization that does not constitute "reserves" by SEC standards as in-place
tonnage and grade without reference to unit measures. The requirements of NI
43-101 for identification of "reserves" are also not the same as those of the
SEC, and reserves reported by the Company in compliance with NI 43-101 may not
qualify as "reserves" under SEC standards. Accordingly, information concerning
mineral deposits set forth herein may not be comparable with information
presented by companies using only U.S. standards in their public disclosure.


This news release contains forward-looking statements. 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. Particular risks applicable to this
press release include risks associated with achieving production on the project
within the parameters identified in the economic assessment, the ability of the
project to generate significant cash flow to the company and earnings to the
shareholders of the company. These statements are subject to risks due to
regulatory, technical, economic and other factors. In addition there is no
guarantee that additional exploration work will result in significant increases
to resource estimates. The reader is referred to the Company's most recent
annual and interim Management's Discussion and Analysis for a more complete
discussion of such risk factors and their potential effects, copies of which may
be accessed through SEDAR at www.sedar.com.


News Release #2013-1

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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