MNM

Magellan Minerals Ltd. (TSX VENTURE:MNM)(OTCQX:MAGNF) ("Magellan") is pleased to
announce that it has engaged Endeavour Financial Limited (Cayman) ("Endeavour")
to act as Magellan's financial advisor regarding all aspects of identifying,
assessing and securing project financing for the development of Magellan's
Coringa gold project. 


The Coringa project is located in the southern part of Para state in northern
Brazil close to existing infrastructure. 


Commenting on the agreement with Endeavour, Alan Carter, President & CEO, stated
"despite extremely difficult market conditions, we continue to progress with the
feasibility study at Coringa. Our PEA of December 2012 indicates a life of mine
grade of 5.7 g/t gold, an IRR of 33% at an assumed gold price of $1,350/oz, and
an initial capital cost of $65M for a gold mine that is expected to produce in
excess of 50,000oz of gold per year. Our agreement with Endeavour will allow us
to thoroughly assess in a timely fashion, the available project financing
alternatives as we advance the project through feasibility to a construction
decision".


About Endeavour 

Endeavour Financial Limited (Cayman) is a private independent merchant banking
company focused on providing expert and unbiased financial advisory services to
the global natural resources sector. Endeavour has a history of achieving
success for clients based on resource industry focus, innovative transaction
skills and the diverse professional backgrounds of its award-winning team.
Offering advice in project, corporate and debt capital markets; equity-linked
financings; mergers and acquisitions; and strategic business development over
more than two decades, Endeavour has established itself as a leading financial
advisor in the natural resources sector. Specific to the mining sector, in the
last ten years the firm has closed in excess of US$ 4 billion of development
financings for single-asset emerging producers.


About Magellan 

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.


News release #2013-6 

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

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