MNM

Magellan Minerals Ltd. (TSX VENTURE:MNM)(OTCQX:MAGNF) ("Magellan") is pleased to
provide an update regarding the ongoing feasibility study at its Coringa
project, located in the state of Para in northern Brazil. 


Highlights include:- 



--  Diamond drilling is in progress with two rigs currently drilling at
    depth and in the southern part of the Serra zone. The initial three
    holes have all intersected the Serra structure at depths in excess of
    200m below surface 
--  Metallurgical test work is in progress at Testwork Desenvolvimento de
    Processo Ltda, a laboratory based in the state of Minas Gerais, Brazil.
    Two 250kg composite samples are currently undergoing testing 
--  Ausenco is currently engaged in backfill/tailings tradeoffs and
    geotechnical studies for the tailings site facilities as well as the
    plant site. 
--  Snowden is conducting an underground geotechnical study, their rock
    mechanics engineer will be on site at the end of the month 
--  Hydrogeological work is currently being completed under the direction of
    Global Resource Engineering Ltd



The Feasibility Study at Coringa is currently well advanced with two rigs
currently operating on site with the objective of upgrading Inferred resources
to the Measured and Indicated category at Serra, Meio - Come Quieto and Mae de
Leite. Drill results are expected during May-June.


The results of metallurgical test work currently in progress at Testwork
Desenvolvimento de Processo Ltda, in Brazil, are expected in late June.


The feasibility study is expected to be completed during October 2013.

Following the completion of the current drill program at Coringa, the rigs will
move to the adjacent and contiguous Mato Velho property which is located 15km
from Coringa and where previous drilling returned a number of high grade gold
intercepts. 


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 Coringa project is currently the
subject of a Feasibility Study and 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). 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).


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 http://www.sedar.com.


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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