Magellan Minerals Amends Warrants
July 30, 2009
Vancouver, British Columbia, July 30, 2009: Magellan Minerals Ltd. (TSX-V: MNM) is pleased to announce that it has applied to extend the term of 8,660,000 share purchase warrants issued on February 15, 2008.
Each warrant is currently exercisable into one common share of the Company at an exercise price of $1.50 until August 15, 2009. Pursuant to the terms of the amendment, each warrant will be exercisable into one common share of the Company at an exercise price of $1.50 until August 15, 2010. The amendment of the warrants is subject to the approval of the TSX Venture Exchange.
Magellan is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos Province of northern Brazil. Magellan's key asset is the Cuiu Cuiu project where recent drilling has identified a new gold deposit at the Central zone.
For further information, please contact:
Alan Carter, President and CEO, at 604 676 5663 or email@example.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.