Vancouver, BC, February 21, 2012 – Magellan Minerals Ltd. (TSX-V: MNM, OTCQX: MAGNF) (“Magellan”) is pleased to announce the results of 14 additional exploration holes recently drilled at the Jerimum Cima, Jerimum Baixo and Moreira Gomes zones at the Cuiu Cuiu project in northern Brazil.

Highlights include:-

• 4m @ 5.49 g/t gold and 1m @ 4.30 g/t gold in hole 161 at Jerimum Cima  which was drilled 325m east of hole 26 which intersected 39m @ 5.13 g/t gold
• 41m @ 0.56 g/t gold in hole 141 and 18m @ 0.39 g/t gold in hole 146 from Jerimum Baixo
• 0.6m @ 8.44g/t gold in hole 145 from the Machiche area north of Moreira Gomes

Jerimum Cima

Five additional exploration holes were drilled at Jerimum Cima during late 2011. Jerimum Cima is a strong gold-in-soil anomaly located 3km NE of the Central deposit and 4km NW of the Moreira Gomes deposit. Previous reconnaissance drilling on this target returned values of 39m @ 5.13 g/t gold in hole 26 and 18m @ 1.17 g/t gold in hole 24 associate with sheeted veins in a granitic host rock. This area is also known to have contained some of the richest alluvial gold deposits in the Cuiu Cuiu area. No resource has been calculated thus far at Jerimum Cima.

Previous surface mapping and an interpretation of the airborne magnetic data suggest a ENE-WSW orientation to the zone of sheeted veins previously intersected in holes 24 and 26. Of the five exploration holes drilled during 2011, three were designed to test the eastern extension of the zone over a strike extent of 500m, one hole was designed to test a magnetic target and one hole was drilled approximately 1km east of holes 24 and 26 under an abandoned garimpo placer working.

Of the three holes drilled along strike to the east of holes 24 and 26, one hole (161) intersected 1m @ 4.30 g/t gold and 4m @ 5.49 g/t gold including 0.5m @ 35.1 g/t gold and was drilled 325m east of hole 26 which intersected 39m @ 5.13 g/t gold. Hole 162 which was drilled 500m east of hole 26 cut 4.5m @ 0.80 g/t gold (see map on website).

Gold mineralization at Jerimum Cima has now been traced over approximately 550m and appears to be confined to narrower high grade structures compared to mineralization identified at Central, Central North, Moreira Gomes and Jerimum Baixo. Further infill drilling will be required along the ENE-WSW trending Jerimum Cima structure which is sub-parallel to the Moreira Gomes zone located 4km to the south east.

Drill hole intersections are summarized in the following table:

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths

Jerimum Baixo

Results have also been received on six additional exploration holes from the Jerimum Baixo target zone which is located 3km ESE of the Central deposit and 1.5km NW of the Moreira Gomes deposit. This brings the total number of holes completed to date at Jerimum Baixo to fifteen.

Previous drilling on this target has returned values of 105m @ 0.60 g/t gold including 41m @ 1.29 g/t gold in hole 94, 38m @ 0.67 g/t gold in hole 98, 57.4m @ 0.51 g/t gold in hole 10 and 25m @ 0.49 g/t gold in hole 137 (see press release dated 15th November, 2010). Significant holes reported here include hole 141 which was drilled 50m SE of hole 94 (which cut 105.2m @ 0.60 g/t gold) and intersected 41m @ 0.56 g/t gold from 17.1 to 58.1m depth and 33m @ 0.28 g/t gold from 92.1 to 125.1m depth (see map on website).

Hole 146 also intersected 18m @ 0.39g/t gold from 202.5 to 220.5m depth which almost certainly represents the same zone cut in holes 91 (30.4m @ 0.40 g/t gold) and hole 95 (54m @ 0.39g/t gold).

The 2011 drill program at Jerimum Baixo has confirmed the existence of a mineralized body which is currently smaller and lower grade than the nearby Moreira Gomes deposit located 1.5km to the south-east. More significantly, gold mineralization above the 0.3g/t gold cut-off grade is consistent over a strike length of 450m and remains open to the east. Further drilling is required to fully define the dimensions of the mineralized zone.

Moreira Gomes

Results were returned on three additional holes from Moreira Gomes.  Hole 149 was drilled on the eastern edge of the known mineralization at Moreira Gomes, 115m east of the previous most easterly hole 122 (8.2m @ 0.37 g/t gold and 18.4m @ 0.46 g/t gold (see press release dated August 31, 2011) and intersected 9m @ 0.34 g/t gold and 16m @ 0.26 g/t gold (see map on website). This is almost certainly the same zone and indicates that the Moreira Gomes body continues to remain open to the east. Drilling has now extended the Moreira Gomes mineralized zone a total of 250m beyond the eastern limit to the orebody as defined in the 43-101 resource estimate of early 2011 (see press release dated 8th March 2011).

Hole 145 was an exploration hole drilled north of the main Moreira Gomes zone and east of the main body. It intersected a narrow high grade vein structure which returned 0.6m @ 8.44 g/t gold from 216.0 to 216.6m depth. This intersection is a narrow vein located 100m SE of the Machiche vein structure which returned 3.3m @ 7.43 g/t gold in hole 52 (see map on website).

The Moreira Gomes and Central deposits at Cuiu Cuiu currently comprise published resources of 1.2Moz (31Mt @ 1.2 g/t) of gold in the inferred category and 0.1Moz (3.4Mt @ 1.0g/t) of gold in the indicated category. The published block model inventory for the Central and Moreira Gomes deposits at a 0.30 g/t gold cut-off comprises 3.5Mt @ 1.0 g/t gold for 110,000 oz of contained gold and 45Mt @ 1.0 g/t gold for 1.4Moz of contained gold.

Holes were drilled at 50 degrees from horizontal.  All core samples (HQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company’s office in Itaituba before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program also includes the insertion of standards, field duplicates and blank material in the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Vancouver, B.C., February 14th, 2012 - Magellan Minerals Ltd. (TSX-V: MNM, OTCQX: MAGNF) (“Magellan”) is pleased to report the results of a preliminary metallurgical study of ore from the Cuiu Cuiu project which was recently conducted by RDI (Resource Development Inc) of North Wheat Ridge, Colorado.

Highlights from this work include:-

• 94 – 97% gold recoveries in carbon-in–leach direct cyanidation tests at P80 = 200 mesh (75 microns) for composite oxide and sulphide samples from both the Central and Moreira Gomes deposits
• 93 – 95% gold recoveries in carbon-in-leach direct cyanidation tests at the relatively coarse grind of P80 = 100 mesh (150 microns) for composite oxide and sulphide samples from the Central deposit and 88 – 90% gold recoveries at P80 = 100 mesh for composite oxide and sulphide samples from the Moreira Gomes deposit
• Extractions were performed over 48 hours with cyanide consumptions generally in the range of 0.23 to 0.65kg/t
• Gravity testing also suggests that a portion of the gold (12.7 – 59.4%) is free and can be recovered via gravity

In total, 41 samples of drill core from the Central zone weighing a total of approximately 69.5kg, and drill core samples weighing 40.3kg from the Moreira Gomes zone were used for the testing. Samples from 18 holes were selected so as to be as representative as possible of the overall resource grade at Cuiu Cuiu.

Four composite samples representing oxide material and primary sulphide material from both the Central and Moreira Gomes deposits were compiled, with head grades ranging from 1.36 to 1.93 g/t gold. The four composite samples (1kg charges) were ground to P80 of 65, 100 and 150 mesh and subjected to gravity concentration using a laboratory Knelson concentrator. The gravity concentrate was subject to cleaner gravity concentration using a Gemeni table. The gold recovery in the Gemeni concentrate ranged from 12.7% to 59.4% while the concentrate assayed 4.9g/t to 175.8g/t gold.

Whole ore carbon-in-leach tests were performed on the four composites to determine the metal extraction and reagent consumptions for future potential ore processing. Each composite sample (1kg charge) was ground to P80  of 100 (150 microns) and 200 mesh (75 microns) and slurried with water to a density of 40% solids. The slurried sample was adjusted to a pH of 11 with lime, carbon added to 20 g/l and a cyanide concentration of 1 g/l. The samples were bottle rolled for 48 hours. The pH and NaCN concentration was adjusted to 11 and 1 g/l, respectively, at 6, and 24 hours for all the tests. After 48 hours, the samples were filtered after carbon removal and the residues were thoroughly washed and dried. The dry residues were then pulverized and assayed.

The results indicate that the gold extraction from the Central oxide material was over 95%, and the cyanide consumption was reasonable at 0.234 kg/t. The gold extraction for the Central primary material was +/- 93% and the cyanide consumption was 0.239 kg/t. At Moreira Gomes the gold extraction was dependent on grind size. Gold extraction of 94% to 96% was obtained at P80 of 200 mesh. The cyanide consumption was 0.653 kg/t to 1.249 kg/t.

Tables 1 and 2 summarize the results of the whole ore carbon-in-leach cyanidation test results.

Table 1 – Central deposit

Table 2 – Moreira Gomes deposit

Alan Carter, President & CEO commented, “We are extremely pleased with the results of the preliminary metallurgical test work from Cuiu Cuiu which indicate excellent gold recoveries via direct cyanidation. These results are comparable with results from the nearby Tocantinzinho deposit of Eldorado Gold which is currently undergoing a feasibility study.”

The Moreira Gomes and Central deposits at Cuiu Cuiu comprise current published resources of 1.2Moz (31Mt @ 1.2 g/t) of gold in the inferred category and 0.1Moz (3.4Mt @ 1.0g/t) of gold in the indicated category. The published block model inventory for the Central and Moreira Gomes deposits at a 0.30 g/t gold cut-off comprises 3.5Mt @ 1.0 g/t gold for 110,000 oz of contained gold and 45Mt @ 1.0 g/t gold for 1.4Moz of contained gold.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a Qualified Person in compliance with National Instrument 43-101. Test work at RDI was performed under the supervision of Deepak Malhotra, President and a Qualified Person.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration and development company with a number of gold exploration properties in the Tapajós region of northern Brazil, and is focused on the Cuiu Cuiu and Coringa projects.

For further information, please contact:

Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com
 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Highlights include:-

• 1.0m @ 32.6 g/t gold in hole 160 at Serra which was drilled on the northern strike extent of the Serra zone 50m north of hole 148  (1.5m @ 11.73 g/t gold)
• 4m @ 2.87 g/t gold including 0.5m @ 16.0g/t gold in hole 157 at Meio-Onca which is located 400m south of main Meio zone in an area with no previously reported values of interest.
• 2.9m @ 1.95 g/t gold including 1.0m @ 2.86g/t in hole 154 at Come Quieto located 95m north of hole 151 (2.0m @ 6.07g/t).

Serra

Results are reported here on the last two holes drilled along strike and down dip of the existing resource. Hole 160 was drilled on the northern strike extent of the Serra zone approximately 50m north of hole 148 (1.5m @ 11.73 g/t gold) and intersected 1.0m @ 32.6 g/t gold from 98.1 to 99.1m depth, including 0.5m @ 59.4 g/t gold from 98.6 to 99.1m (see longitudinal section on website). Hole 160 is the most northerly hole completed at Serra to date and demonstrates that the mineralized zone continues for an additional 200m along strike since the original 2009 resource calculation. More importantly, hole 160 demonstrates that the mineralized zone is still open to the north.

The mineralized zone at Serra zone has an existing resource of 161,731oz of gold in the Measured and Indicated categories (Measured; 210,405t @ 8.59 g/t gold and Indicated; 336,004t @ 9.59 g/t gold) and 94,294oz of gold in the Inferred category (280,794t @ 10.44 g/t gold). This initial resource, which was released in September 2009 was based on a mineralized structure which extended 900m along strike and to a depth of 80m. These results and those previously released from Serra during 2011 (see press releases dated 13th September 2011, 17th October 2011, 24th November 2011 and 12th January 2012) suggest that the mineralized zone currently extends at least 1100m along strike and to a depth of 180m below surface.

Analytical results from the Serra, Meio, and Come Quieto zones discussed in the text are tabulated below.

*   All holes were drilled at between -50° and -65°. Dips of the intersected structure at Come Quieto and Meio-Onca are not known, and intersection widths are not necessarily true widths
**   True widths at Serra and Meio are estimated at 60-95% of the drill intersections.

Meio

Results were returned from two holes at the main Meio zone and two holes from the Meio-Onca zone located 400m south of Meio and 700m north of Come Quieto. Hole 157 was drilled at Meio-Onca 400m south of Meio zone and returned 4.0m @ 2.87 g/t gold from 141.0 to 145.0m including 0.5m @ 16.0 g/t gold from 142.5 to 143m. Hole 157 was placed in a completely new untested zone. Hole 159 was drilled 200m north of hole 157, and returned 0.5m @ 2.54g/t gold from 114.7 to 115.2m showing the possible continuity of the mineralized zone found in hole 157 (see map on website).

At the main Meio zone, hole 156 which was drilled on the northern end of the mineralized zone, intersected 1.5m @ 1.2 g/t gold from 165.0 to 166.5m depth, demonstrating that the mineralized structure continues at depth (see longitudinal section on website).

The Meio zone has an existing resource of 70,100oz of Measured and Indicated resources (Measured; 173,710t @ 9.01 g/t gold, Indicated; 92,917t @ 6.61g/t gold) and 3,594oz of Inferred resources (41,715t @ 2.68 g/t gold).

Come Quieto

Results were returned on one additional hole from the Come Quieto zone south of Meio. Hole 154 was drilled 95m north of hole 151 (2.0m @ 6.07 g/t gold) and returned 0.4m @ 3.99g/t gold from 50.6 to 51m, 2.9m @ 1.95 g/t gold from 158.5 to 161.4m, 0.5m @ 2.03g/t gold from 163 to 163.5m and 1.0m @ 2.86g/t gold from 179 to 180m confirming the extension of the mineralized ore zone at Come Quieto which now extends over approximately 400m and remains open to the north (see map on website). The Come Quieto zone was not included in the September 2009 resource calculation.

Magellan is currently in the process of completing a 43-101 compliant updated resource estimate for the Coringa project which is expected to be released in March 2012. Global Resource Engineering Ltd. of Denver has been contracted to assist with this work. The initial resource estimate for Coringa which was released in September 2009 was based on 8,750m of drilling. A total of 14,091m of additional drilling was completed to the end of 2011 and following the initial resource estimate.

All core samples (HQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company’s office in Novo Progresso before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program also includes the insertion of standards, field duplicates and blank material in the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Vancouver, BC, February 1st, 2012 – Magellan Minerals Ltd. (TSX-V: MNM, OTCQX: MAGNF) (“Magellan”) is pleased to announce the results of seven additional exploration holes recently drilled at the Central North zone at the Cuiu Cuiu project. Central North is located 300m – 600m north of the Central zone (comprising 3.4Mt @ 1.0 g/t of gold in the indicated category and 17Mt @ 0.9 g/t of gold in the inferred category) at Cuiu Cuiu.   

Highlights include:-

• 19m @ 0.49 g/t gold and 9m @ 0.94 g/t gold in hole 148 which was drilled as a scissor hole to hole 131 which intersected 39.4m @ 1.25 g/t gold
• 20m @ 0.59 g/t gold in hole 163 which was drilled in an ESE direction approximately 130m north of hole 131
• 6.1m @ 1.87 g/t gold in hole 159 located 75m north of hole 148
• 2m @ 5.97 g/t gold at depth in hole 163 drilled 150m N of hole 148

Central North

The seven holes reported here are all from follow-up holes designed to test the extent of the mineralization encountered in hole 131 which intersected 39.4m @ 1.25 g/t gold and is located 360m from the northern margin of the Central zone. All of the holes are exploration / step-out holes and are drilled outside of the known resource and between 300 and 600m north of the Central zone (see map on website)

Six of the seven holes reported here intersected gold mineralization in multiple intervals confirming the presence of another mineralized zone at Cuiu Cuiu and immediately north of the Central body. The gold mineralization reported here from Central North is all well above the 0.30 g/t grade cut-off used for the Cuiu Cuiu resource estimate (see press release dated March 8, 2011) The Central North zone has been traced for at least 350m and appears to trend NW-SE and is offset from the main Central body (see map on website). The zone remains open to the north-west and south east. Further drilling is planned during 2012 to more accurately define the extent of gold mineralization of Central North.

Alan Carter, President & CEO of Magellan commented, “These recent drill results confirm the presence of a new mineralized zone at Cuiu Cuiu 300 – 600m north of the existing Central zone. This zone together with the recently identified Jerimum Baixo zone located 3km SE of Central is outside the existing resource estimate and confirms the presence of multiple mineralized bodies at Cuiu Cuiu.”

Drill hole intersections are summarized in the following table:

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths

Magellan is currently conducting a program of ground IP geophysics over the Moreira Gomes and Central deposits at Cuiu Cuiu which collectively comprise current published resources of 1.2Moz (31Mt @ 1.2 g/t) of gold in the inferred category and 0.1Moz (3.4Mt @ 1.0g/t) of gold in the indicated category. The published block model inventory for the Central and Moreira Gomes deposits at a 0.30 g/t gold cut-off comprises 3.5Mt @ 1.0 g/t gold for 110,000oz of contained gold and 45Mt @ 1.0 g/t gold for 1.4Moz of contained gold.

Holes were drilled at 50 degrees from horizontal.  All core samples (HQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company’s office in Itaituba before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program also includes the insertion of standards, field duplicates and blank material in the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Magellan has retained Stifel, Nicolaus & Company, Incorporated to serve as the Company's Principal American Liaison ("PAL") and provide continued guidance on OTCQX requirements.

Alan Carter, President and CEO stated, "We are pleased to announce our trading on the OTCQX International Marketplace. The OTCQX will enhance liquidity by providing U.S. investors the ease of access to our stock through their U.S. regulated broker-dealers."

Investors can find current financial disclosure, real-time Level 2 quotes for Magellan's shares and further information at www.otcqx.com and www.otcmarkets.com. 

The Company's shares will remain listed and continue to trade on the TSX Venture Exchange under the symbol "MNM".

About the OTC Markets Group

OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade securities not listed on a U.S. Stock Exchange. OTC's LinkTM platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. OTC Markets Group categorizes the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB® (the venture marketplace), and OTC Pink™ (the open marketplace) - so investors can identify the level and quality of information companies provide.

Magellan Minerals' Information to be available through S&P Capital IQ's Market Access Program

Magellan Minerals also announced today that its company information will be made available via S&P Capital IQ's Market Access Program, an information distribution service that enables subscribing publicly traded companies to have their company information disseminated to users of S&P Capital IQ's MarketScope Advisor.  The company information to be made available through this program includes share price, volume, dividends, shares outstanding, company financial position, and earnings.  MarketScope Advisor is an Internet-based research engine used by more than 100,000 investment advisors. A public version of the site is available at http://advisor.marketscope.com

In addition, information about companies in S&P Capital IQ's Market Access Program will be available via the firm's Stock Guide database, which is distributed electronically to virtually all major quote vendors.  As part of the program, a full description of Magellan Minerals will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in up to 38 states under their Blue Sky Laws. 

Magellan Minerals Ltd. (TSX-V: MNM) is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajós region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:

Alan Carter, President and CEO
Tel: 604.676.5663
Email: info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

OTCQX International Markets
Grace Keith, Public Relations
Tel: 212.896.4428
grace@otcmarkets.com

S&P Capital IQ
Richard Albanese, Customers
Tel: 212-438-3647
richard_albanese@standardandpoors.com

Or
Michael Privitera, Media Relations
Tel: 212-438-6679
michael_Privitera@standardandpoors.com

 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing of the commencement of trading on OTCQX. 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.

Vancouver, BC, January 12, 2012 - Magellan Minerals Ltd. (TSX-V: MNM) (“Magellan”) is pleased to report results from eight additional drill holes from the Serra, Meio and Come Quieto zones at the Coringa project, Brazil. As with previous holes reported from the 2011 diamond drill program, these are all step-out and exploration holes aimed at expanding the existing resources of 269,450oz of gold in the measured and indicated categories (982,291t @ 8.53 g/t), and 98,224oz of gold in the inferred category (327,054t @ 9.34 g/t).

Highlights include:-

• 1.5m @ 11.73 g/t gold in hole 148 at Serra which was drilled on the northern strike extent of the Serra zone 100m north of hole 135  (0.5m @ 12.1 g/t gold)
• 5m @ 3.50 g/t gold including 2m @ 7.07g/t gold in hole 155 at Meio drilled on the northern end of the Meio zone in an area with no previously reported values of interest
• 2m @ 6.07 g/t gold in hole 151 at Come Quieto located 125m north of hole 126 which is the most northerly hole drilled to date at Come Quieto

Serra

Results are reported here on two additional holes drilled along strike and down dip on the existing structure. Hole 148 was drilled on the northern strike extent  of the Serra zone approximately 100m north of hole 135 (0.5m @ 12.1 g/t gold) and intersected 1.5m @ 11.73 g/t gold from 141.5 to 143.0m depth (see map and longitudinal section on website). Hole 145 is the most northerly hole completed at Serra to date and further expands the mineralized zone along strike and demonstrates that the mineralized zone is still open to the north.

Hole 153 was drilled 50m south of hole 129 on the southern extremity of Serra and cut 1.5m @ 0.56 g/t gold including 0.5m @ 1.89 g/t gold.

The mineralized zone at Serra zone has an existing resource of 161,731oz of Measured and Indicated resources (Measured; 210,405t @ 8.59 g/t gold and Indicated; 336,004t @ 9.59 g/t gold) and 94,294oz of Inferred resources (280,794t @ 10.44 g/t gold). This initial resource which was released in September 2009 was based on a mineralized structure which extended 900m along strike and to a depth of 80m. These results and those previously released from Serra during 2011 (see press releases dated 13th September 2011, 17th October 2011 and 24th November 2011) suggest that the mineralized zone currently extends at least 1000m along strike and to a depth of 180m below surface. Results are currently pending on two additional holes at Serra.

Analytical results from the Serra, Meio and Come Quieto zones discussed in the text are tabulated below.

*   All holes were drilled at between -50° and -65°. Dips of the intersected structure at Come Quieto are not known, and intersection widths are not necessarily true widths
**   True widths at Serra and Meio are estimated at 60-95% of the drill intersections

Meio

Results were returned from three holes at the Meio zone including hole 155 which was drilled on the northern end of the mineralized zone and intersected 5m @ 3.50 g/t gold from 91.0 to 96.0m depth including 2m @ 7.07 g/t gold from 91.0 to 93.0m depth. Previous shallow holes drilled in this section of the Meio zone failed to return any significant results of interest suggesting that gold grades are improving with depth.

Holes 149 and 152 were drilled in the southern part of Meio. Hole 152 cut 0.5m @ 3.78 g/t gold from 75.0 to 75.5m depth (see map on website). Results are pending on two additional holes from Meio.

The Meio zone has an existing resource of 70,100oz of Measured and Indicated resources (Measured; 173,710t @ 9.01 g/t gold and Indicated; 92,917t @ 6.61g/t gold) and 3,594oz of Inferred resources (41,715t @ 2.68 g/t gold).

Come Quieto and Domingo

Results were returned on one additional hole from the Come Quieto zone south of Meio. Hole 151 was drilled 150m north of hole 126 (8m @ 2.06 g/t gold) and returned 2m @ 6.07 g/t gold confirming the presence of a new ore zone at Come Quieto which now extends over approximately 300m and remains open to the north (see map on website).The Come Quieto zone was not included in the September 2009 resource calculation.

Results were returned on two additional holes (146 and 147) drilled on the Domingo structure. Hole 146 returned 1.5m @ 0.45 g/t gold whilst hole 147 cut no values of interest. No further drilling is planned at Domingo in the near term although the bulk of the +4km gold-in-soil anomaly remains untested.

All core samples (HQ diameter) were cut with a diamond saw.  One-half of the core was placed in numbered and sealed bags and sent via a secure transport agency to the Company’s office in Novo Progresso, and subsequently to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying. Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program includes the insertion of standards, field duplicates and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajós region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com

www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

The Sector Update is written by Mining Analyst Eric Zaunscherb and his research team. Mr. Zaunscherb has over 22 years of experience as a mining analyst working for firms that include: Canaccord Genuity, Haywood Securities, Raymond James, Scotia Capital Markets, Midland Walwyn, and Yorkton Securities. If you have an interest in reading the report, please follow this link – Twenty To Watch for 2012.

PI Financial Corp. (PI) is a leading, employee-owned, Western Canadian based Investment Dealer providing a full range of investment products and services for individual, corporate and institutional investors.

Magellan Minerals Ltd. is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects.

For further Information, please contact:

Alan Carter
President and CEO
info@magellanminerals.com
604.676.5660

Jennifer Duthie
Corporate Communications
jennifer@magellanminerals.com
778.370.0519

www.magellanminerals.com

Vancouver, BC, November 24, 2011 - Magellan Minerals Ltd. (TSX-V: MNM) (“Magellan”) is pleased to report results from thirteen additional drill holes from the Serra, Meio and Domingo zones at the Coringa project, Brazil. As with previous holes reported from the 2011 diamond drill program, these are all step-out and exploration holes aimed at expanding the existing resources of 269,450oz of gold in the measured and indicated categories (982,291t @ 8.53 g/t), and 98,224oz of gold in the inferred category (327,054t @ 9.34 g/t).

Highlights include:-

• 7m @ 6.10 g/t gold including 2m @ 18.03 g/t gold in hole 145 at Serra which was drilled 50m south and 130m down dip of hole 127 (2m @`10.81g/t gold)
• 0.6m @ 17.60 g/t gold in hole 139 at Serra drilled 50m to the north and 120m down dip of hole 124 (1.5m @ 10.23 g/t gold)
• 1m @ 11.52 g/tgold and 0.5m @ 8.80 g/t gold in hole 130 at Meio located 225m SE of the existing resource at Meio and 40m SE of hole 94 (2.6m @ 7.52g/t gold)
• 1.5m @ 17.74 g/t gold also in hole 130 at Meio
• 2m @ 12.05 g/t gold in hole 144 also at Meio and 100m down-dip of previous drilling in the central part of the Meio zone

Serra

Results are reported here on five additional holes drilled down dip on the existing structure. Hole 145 was drilled approximately 50m south and 130m down dip of hole 127 (2m @ 10.81 g/t gold) and intersected 7.0m @ 6.10 g/t gold from 209.0 to 216.0m depth including 2m @ 18.03 g/t gold from 213.0 to 215.0m depth (see map and longitudinal section on website). Hole 145 is the deepest hole completed at Serra to data and confirms the high grade continuity of the mineralized zone down dip and at depth.

Hole 139 was drilled 50m north and 120m down dip of hole 124 (1.5m @ 10.23 g/t gold) at Serra in the central part of the Serra zone and returned 0.6m @ 17.60 g/t gold.

The Serra zone has an existing resource of 161,731oz of Measured and Indicated resources (Measured; 210,405t @ 8.59 g/t gold and Indicated; 336,004t @ 9.59g/t gold) and 94,294oz of Inferred resources (280,794t @ 10.44 g/t gold). These results build on previous results (see press releases dated 13th September 2011 and 17th October 2011) and continue to expand the mineralized zone at depth and along strike. Results are currently pending on an additional three deep holes at Serra and drilling continues.

Analytical results from the Serra, Meio and Domingo zones discussed in the text are tabulated below.

*   All holes were drilled at between -50° and -65°. Dips of the intersected structure at Domingo are not known, and intersection widths are not necessarily true widths
**   True widths at Serra and Meio are estimated at 60-95% of the drill intersections

Meio

Results were returned from five holes at the Meio zone including hole 130 which was drilled approximately 225m SE of the main Meio zone and intersected 1m @ 11.52 g/t gold from 39.5 to 40.5m depth, 0.5m @ 8.80 g/t gold from 197.0 to 197.5m depth, 1.5m @ 4.80 g/t gold from 246.0 to 247.5m depth and 1.5m @ 17.74 g/t gold from 254.6 to 256.1m depth (see map on website). Hole 130 is a significant hole because it intersected at least four high grade structures at depth in an area to the south and well beyond the existing resource, suggesting the presence of several high grade parallel veins.

Hole 144 was drilled in the central part of Meio at depth, and intersected 2m @ 12.05 g/t gold from 261.5 to 263.5m depth. The hole was drilled at least 100m down-dip and below nearby drill holes and confirms the presence of high grade mineralization at depth at Meio (see map on website).

The Meio zone has an existing resource of 70,100oz of Measured and Indicated resources (Measured; 173,710t @ 9.01 g/t gold and Indicated; 92,917t @ 6.61g/t gold) and 3,594oz of Inferred resources (41,715t @ 2.68 g/t gold). These results continue to expand the mineralized zone both at depth and along strike. Results are currently pending on an additional three deep holes at Meio and drilling continues.

Domingo and Valdette

Results were returned from two initial holes at the Domingo structure which is located 4km west of the main structure at Coringa (see press release dated 22nd September 2011). Hole 142 returned 0.5m @ 2.78 g/t gold and hole 143 which was drilled 300m to the south-east returned 1m @ 0.90 g/t gold and results are pending on an additional two holes. The bulk of the gold-in-soil geochemical anomaly at Domingo which is 3.8km in length, remains untested (see map on website).

Results were returned on one additional hole drilled at Valdette structure and failed to cut any results of significant interest.

Drilling is currently in progress on the down dip extensions of the Meio and Serra structures which contain the bulk of the resource at Coringa as well as at Come Quieto. The 2011 drill program at Coringa is aimed at significantly expanding the existing resource which was initially reported in September of 2009.

All core samples (HQ diameter) were cut with a diamond saw.  One-half of the core was placed in numbered and sealed bags and sent via a secure transport agency to the Company’s office in Novo Progresso, and subsequently to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying. Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program includes the insertion of standards, field duplicates and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

Share options

Further to the Company's November 14, 2011 news release, the Company's Board of Directors have determined not to proceed with the grant of stock options as announced.  Accordingly, the Company has cancelled 2,810,000 stock options, of which 1,400,000 stock options were granted to officers and directors of the Company, exercisable at a price of $0.70 per common share, for a period of five years

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com

www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
Website: www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Magellan’s new land acquisition covers parts of the Tocantinzinho trend along a strike length of over 125km.  The new claims are located peripherally to the Magellan’s Cuiú Cuiú and Bom Jardim properties, and now link the two project areas with contiguous claims.   Additional ground was also acquired south of Eldorado’s Tocantinzinho deposit.

Reconnaissance stream sediment sampling and prospecting is planned for these areas as part of Magellan’s ongoing generative program in the Tapajós region.

At Cuiú Cuiú exploration drilling is currently in progress with three rigs, and is aimed at expanding the current resources.  An airborne magnetic and radiometric geophysical survey has recently been completed on the Bom Jardim property and a large program of soil geochemistry, mapping and ground geophysics is currently underway.  Drilling is planned to start at Bom Jardim before the New Year.

Magellan also currently has three drill rigs operating at the Coringa project which has a Measured and Indicated Resource of 0.27 Moz (982,291t @ 8.53 g/t) and an Inferred Resource of 0.1 Moz of gold (327,054t @ 9.34 g/t).

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Highlights include:-

• 4m @ 7.16 g/t gold including 1m @ 16.34 g/t gold in hole 132 at Serra drilled 100m north of hole 121 and 100m below previous holes
• 0.5m @ 12.1 g/t gold in hole 135 drilled 70m north of hole 121 at the northern limit of Serra
• 3m @ 5.10 g/t gold in hole 122 at Come Quieto suggesting the presence of another mineralized zone along the main structure at Coringa
• 8m @ 2.06 g/t including 4m @ 3.55 g/t gold and 0.5m @ 10.10 g/t gold in hole 126 also drilled at Come Quieto 100m NW of hole 122. The area extending 600m NW from hole 126 has never been previously drill tested  

Serra

Results are reported here on two additional holes drilled down dip on the existing structure. Hole 132 was drilled 100m south of hole 121 and 100m down dip of previous drilling and intersected 0.5m @ 4.4g/t gold from 117.0 to 117.5m depth and 4m @ 7.16g/t gold from 136.4 to 140.4m depth including 2m @ 5.99g/t gold and 1m @ 16.34g/t gold (see map and longitudinal section on website). Hole 121 previously intersected 1m @ 118.27 g/t gold (see September 13th, 2011 news release)

Hole 135 was drilled on the northern limit of the Serra zone and returned 1.1m @ 2.78 g/t and 0.5m @ 12.1g/t gold). Hole 135 was drilled 70m north and 40m down dip of hole 121 and expands the strike length of the Serra zone to the north by a minimum of 70m.

The Serra zone has an existing resource of 161,731oz of Measured and Indicated resources (Measured; 210,405t @ 8.59g/t gold and Indicated; 336,004t @ 9.59g/t gold) and 94,294oz of Inferred resources (280,794t @ 10.44 g/t gold). These results continue to expand the mineralized zone at depth and along strike. Results are currently pending on an additional four deep holes at Serra.

Analytical results from the Come Quieto, Serra and Valdette zones discussed in the text are tabulated below.

*   All holes were drilled at between -50° and -65°. Dips of the intersected structures at Come Quieto and Valdette are not known, and intersection widths are not necessarily true widths
**   True widths at Serra are estimated at 60-95% of the drill intersections
*** Results are pending on holes 129, 130 and 134

Come Quieto

Results were returned from two holes (122 and 126) at the Come Quieto target which is located approximately 1.7km SE of the Meio zone and is not part of the existing resource at Coringa. Hole 122 was drilled approximately 100m NW of hole 120 and intersected 1m @ 4.90 g/t gold from 51.0 to 52.0m depth and 3m @ 5.10 g/t gold from 133.0 to 136.0m depth (see map on website).

Hole 126 was drilled 100m NW of hole 122 and intersected 8m @ 2.06 g/t gold from 127.0 to 135.0m depth including 4m @ 3.55 g/t gold from 129.0 to 133.0m and 0.5m @ 10.10 g/t gold from 185.0 to 185.5m depth.

The zone to the north of hole 126 remains open for a strike length of at least 600m raising the possibility of a new mineralized zone along the main structure at Coringa. This part of the structure has a number of old workings but never been previously drill tested and will require further drilling. 

Valdette

Results were returned on three additional holes drilled on the Valdette structure. Hole 128 intersected 7m @ 0.87 g/t gold (see map on website) and was drilled 140 m south of hole 110 which intersected 1m @ 2.38 g/t, 2m @ 1.43 g/t and 1m @ 2.80 g/t gold (see July 12th, 2011 news release).  Hole 128 marks the southern-most hole drilled at Valdette and extends the mineralized zone a further 140m to the south.

Hole 131 was drilled on the northern limit of Valdette 170m north of hole 119 and intersected 5m @ 0.86g/t gold. Hole 133 was drilled between holes 119 and 131 and cut 1m @ 1.14 g/t, 1m @ 2.35 g/t and 0.5m @ 1.77g/t gold.

These results from Valdette confirm the presence of a mineralized structure of at least 1000m in length which remains open both to the north and south and at depth.

Drilling is currently in progress on the down dip extensions to the Meio and Serra structures which contain the bulk of the resource at Coringa and at the recently discovered Domingo structure.

All core samples (HQ diameter) were cut with a diamond saw.  One-half of the core was placed in numbered and sealed bags and sent via a secure transport agency to the Company’s office in Novo Progresso, and subsequently to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying. Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program includes the insertion of standards, field duplicates and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com

www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

During the past few months, field crews have been engaged in a systematic field sampling program aimed at following up anomalies identified from stream sediment sampling and the airborne magnetic survey. This work led to the identification of both the Valdette and Demetrio zones at Coringa and has now resulted in the identification of a gold-in-soil anomaly named Domingo which is 4km west of the main structure at Coringa. The anomaly is approximately 300m in width and extends NW-SE for a distance of 3.8km (see map on website).

One possible source of the Domingo gold-in-soil anomaly has been identified as a quartz vein/shear zone structure of unknown width that has been traced for 350m in a NW-SE direction (see map on website). The structure remains open in all directions. Reconnaissance rock chip sampling of this structure returned values of 0.1g/t, 3.6g/t, 4.0g/t, 6.7g/t, 13.6g/t and 22.0g/t gold and average 8.3g/t gold. Further reconnaissance work is in progress aimed at extending the Domingo mineralized structure on surface in advance of drilling.

Drilling at Coringa is currently in progress at the recently identified Valdette zone and down dip on the Meio and Serra zones. Recent drilling down dip at the Serra zone at Coringa returned a value of 1m @ 118.3 g/t gold (see press release dated 13th September 2011).

All soil samples were placed in bags, numbered and sealed then sent via a secure transport agency to the Company's office in Novo Progresso before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation. Soil samples were dried and sieved up to 100g to minus 80 mesh with a analysis of a 30g sample by fire assay and atomic absorption finish at ACME Laboratory in Santiago, Chile. ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes standards, blanks, repeats, and duplicates

Magellan’s QA/QC program includes the insertion of standards, field duplicates and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

Vancouver, BC, September 20th, 2011 - Magellan Minerals Ltd. (TSX-V: MNM) ("Magellan") is pleased to announce the results of seven additional step-out and exploration holes at the Cuiu Cuiu project including 27m @ 6.94 g/t gold located 600m South East of the Central zone. 

Highlights include:-

• 27m @ 6.94 g/t gold in hole 138 located 600m south east of the Central zone and 400m SE of hole 121 (7.8m @ 8.44g/t gold), which represents another new zone of gold mineralization and has been named Central South East
• 25m @ 0.49 g/t gold in hole 137 at Jerimum Baixo which is located between Central and Moreira Gomes. Gold mineralization at Jerimum Baixo has now been traced consistently over an area of 350 x 35m and remains open in several directions 
• 19m @ 0.48 g/t gold in hole 140 located close to the western margin of the Moreira Gomes zone

Central SE

Hole 138 was drilled 600m SE of the Central zone in the Central SE gold-in-soil anomaly and intersected 27.0m @ 6.94 g/t gold from 20.0 to 47.0m depth in saprolitic granite (see map on website), including 2m @ 84.3g/t gold. The hole was drilled 400m SE of hole 121 which intersected 7.8m @ 8.44g/t gold (see press release dated 21st July 2011) and may be the same mineralized structure. Holes 132 and 134 failed to intersect significant mineralization.

The identification of a second high grade drill intersection in the Central SE gold-in-soil anomaly suggests the presence of a potentially significant new mineralized zone at Cuiu Cuiu immediately SE of the Central zone. Significant gold mineralization has been intersected in two out of three holes along strike and extends over a distance of at least 400m. These results come after the recent announcement of a new mineralized zone at Central North which is located a minimum of 360m north of the Central body (see press release dated 8th September 2011). Further drilling at both Central SE and Central North is in progress.

Alan Carter, President & CEO of Magellan commented, "hole 138 is a significant intersection by any measure and is important because it is located 600m south of the Central zone which contains an Inferred resource of 500,000 oz and an Indicated resource of 100,000 oz of gold. These results come on the heels of the recent announcement regarding the discovery of a new zone at Central North and supports our strategy of drilling step-out and exploration holes beyond the existing resources. This drilling is aimed at identifying additional mineralized zones at Cuiu Cuiu".

Drill hole intersections discussed in the text are summarized in the following table:

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths

Jerimum Baixo

Results were received on two exploration holes from Jerimum Baixo, which is located between the Central and Moreira Gomes deposits and is not currently part of the resource at Cuiu Ciuu. Previous reconnaissance drilling on this anomaly has returned results up to 105.2m @ 0.6 g/t including 41m @ 1.3g/t gold.

Hole 137 was drilled  50m west of hole 135 and intersected 7m @ 0.76g/t from 0 to 7m, 2m @ 0.69g/t gold from 29.6 to 31.6m, 25m @ 0.49g/t gold from 41.6 to 66.6m and 59m @ 0.28g/t gold from 73.6 to 132.6m depth (see map on website). The mineralized zones intersected in hole 137 are almost certainly the same zones recently reported from hole 135 (see press release dated 8th September 2011). Hole 139 was drilled 110m W of hole 137 and cut no values of interest.

Results have now been received on four holes at Jerimum Baixo during 2011 bringing the total number of holes drilled in this zone to twelve. Gold mineralization at Jerimum Baixo is now known to be continuous over an area of at least 350m x 35m and trends in an ESE - WNW direction. The mineralized zone remains open, particularly to the south and results are currently pending on three additional step-out holes.

Moreira Gomes

Results have been returned on two additional holes from the western part of the Moreira Gomes zone which contains an inferred resource of 700,000 oz of gold (14Mt @ 1.5 g/t gold). (see map on website). Hole 140 was drilled between holes 62 and 49 and cut 19m @ 0.48g/t gold from 64 - 83m depth demonstrating the continuity of gold mineralization over the western part of Moreira Gomes.

Hole 136 cut no values of interest and was drilled as an 80m step-out hole west of hole 133 which was the most westerly drill hole at Moreira Gomes.  

   
Magellan currently has three drill rigs operating at Cuiu Cuiu, with drilling expected to continue at least until the end of 2011. Results are currently pending on additional step-out and exploration drill holes from Central North, Central SE and Jerimum Baixo, all of which are targeting areas outside the current resources.

Current resources at Cuiu Cuiu total 1.2Moz (31Mt @ 1.2 g/t) of gold in the inferred category and 0.1Moz (3.4Mt @ 1.0g/t) of gold in the indicated category.

Holes were drilled at 50 degrees from horizontal.  All core samples (HQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company's office in Itaituba before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan's QA/QC program also includes the insertion of standards, field duplicates and blank material in the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

Vancouver, BC, September 16th, 2011 – Magellan Minerals Ltd. (TSX-V: MNM) (“Magellan”) is pleased to announce that ECI Exploration and Mining Inc. has filed a National Instrument 43-101 technical report for the Poconé Gold Project, located in the Mato Grosso region of Brazil.  ECI filed the technical report in connection with filing of ECI’s preliminary prospectus for its initial public offering. The mineral rights underlying the Poconé Gold Project in the Mato Grosso region are owned by Magellan, ECI and Brasil Central Engenharia Ltda. pursuant to joint venture agreements described in news releases (see press release dated October 28, 2010 and press release dated February 7, 2011).

A copy of the technical report dated September 1, 2011 and entitled “NI 43-101 Technical Report on the Poconé Gold Project, Geology, Mineralization and Historic Exploration Results, Baixada Cuiabana - Mato Grosso, Brazil” can be downloaded from ECI’s SEDAR profile, accessible at www.sedar.com.  The technical report was prepared by M. Claiborne Newton, III, PhD, CPG, Donald E. Hulse, P.E., and Jennifer J. Brown, P.G. of Gustavson Associates, LLC. 

About Magellan Minerals Ltd.

Magellan is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

About ECI Exploration and Mining Inc.

ECI is a private gold, silver and associated base metal exploration company with properties in Brazil, and Mexico. ECI filed a preliminary prospectus dated September 14, 2011 in connection with the initial public offering of its common shares.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

Highlights include:-

• 1m @ 118.27 g/t gold in hole 121 at Serra down dip of the existing Measured and Indicated resource confirming that the Serra resource is high grade and remains open at depth
• 2m @ 10.81 g/t gold in hole 127 and 1.5m @ 10.23 g/t gold in hole 124 also at Serra. Both holes are again located down dip at Serra. Holes 121, 124 and 127 are drilled over a strike length of approximately  480m
• 14.3m @ 0.90 g/t gold in hole 125 at Valdette

Serra

Results are reported here on three holes drilled down dip on the existing structure and all three returned high gold grades including hole 121 which was drilled close to the known northern limit of the Serra zone and intersected 1m @ 118.27 g/t gold from 90.3 to 91.3m depth. This drill intersection contains the highest gold grades thus far encountered from any drill hole at Serra. The hole also cut 1m @ 4.42 g/t between 46.0 and 47.0m depth. The hole was designed to test the down dip extensions on the northern part of the Serra zone which has an existing resource of 161,731oz of Measured and Indicated resources (Measured; 210,405t @ 8.59g/t gold and Indicated; 336,004t @ 9.59g/t gold) and 94,294oz of Inferred resources (280,794t @ 10.44g/t gold). Hole 121 demonstrates that the mineralized zone at Serra remains open to the north and at depth (see map and longitudinal section on website).

Holes 124 and 127 were drilled approximately 40m down dip of previous holes in the  southern  central part of Serra structure and  370m and  480m SE of hole 121. Hole 124 cut 1m @ 3.41g/t gold from 99.5 to 100.5m depth and 1.5m @ 10.23 g/t gold from 119.5 to 121.0m depth. Hole 127 cut 2m @ 10.81g/t gold from 102.4 to 104.4m depth (see map and longitudinal section on website). These results confirm that the mineralized zone has excellent continuity both at depth and along strike and remains open at depth.

Alan Carter, President & CEO of Magellan commented, “Hole 121 is the highest grade drill hole that we have so far encountered at Serra and confirms the presence of bonanza gold grades at depth. We are optimistic that these results and the ongoing drill program at Coringa will significantly add to the existing resource base.”

Valdette

Results were returned on two additional holes drilled on the Valdette structure. Hole 125 intersected 14.3m @ 0.90 g/t gold (see map on website) and was drilled 115 m south of hole 112 which intersected 28m @ 0.64 g/t gold (see July 12th, 2011 news release).  Hole 123 was drilled 75m north of hole 114 (36.7m @ 0.79 g/t gold) and failed to intersect significant gold mineralization.

The latest results from Valdette confirm the presence of a relatively wide but lower grade mineralized structure which currently extends over 750m along strike and is open both to the north and south and at depth.

Come Quieto

Results were returned from one hole (120) on the Come Quieto target which is located approximately 1.7km SE of the Meio zone and returned no values of interest. Results are pending on two additional holes; 122 and 126.  

Analytical results from the Serra and Valdette zones discussed in the text are tabulated below.

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths
**  Results are pending on holes 122 and 126

Drilling is currently in progress at Valdette and on the down dip extensions to the Meio and Serra structures which contain the bulk of the resource at Coringa. Results are currently pending on an additional 14 holes.

All core samples (HQ diameter) were cut with a diamond saw.  One-half of the core was placed in numbered and sealed bags and sent via a secure transport agency to the Company’s office in Novo Progresso, and subsequently to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying. Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program includes the insertion of standards, field duplicates and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

Mr. Zimmer holds an MBA, a Bachelor of Engineering and is a registered professional engineer.  He has held executive roles in various precious and base metals companies where he was responsible for the mine development cycle from pre-feasibility through development, construction and into operations.  From 1992-1998, Mr. Zimmer was employed by Teck Resources holding positions as senior mine engineer, mine manager of Afton Mines, general manager of Mount Edon Gold Mines (Australia) and project manager of POGO project (Alaska).  His most recent role (2008-2011) was President & CEO of Far West Mining Ltd., where he led the Santo Domingo project into PEA, subsequent project definition and into pre-feasibility which resulted in the acquisition of Far West Mining Ltd by Capstone Mining and KORES for C$750 million dollars.

Alan Carter, President & CEO commented, “We are delighted to welcome Rick Zimmer to our Board of Directors.  Rick brings valuable mine development, operational, M&A and board room expertise which will greatly assist Magellan as we advance our Cuiu Cuiu, Coringa and Mato Grosso projects.”

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com

www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Vancouver, BC, September 8th, 2011 – Magellan Minerals Ltd. (TSX-V: MNM) (“Magellan”) is pleased to announce the discovery of a new and previously unrecognized zone of gold mineralization located approximately 360m north of the Central zone at Cuiu Cuiu. This zone has been named Central North and represents a significant new discovery. 

Highlights include:-

• 39.4m @ 1.25 g/t gold in hole 131 located 360m due north of hole 118 (0.5m @ 58.7g/t gold) at Central and appears to represent a new and thus far unrecognized zone of gold mineralization which has been named Central North
• 13m @ 0.58 g/t gold in hole 125, located in the extreme eastern part of the Moreira Gomes zone confirming that the Moreira Gomes zone remains open to the east
• 2m @ 6.29 g/t gold in hole 135 at the Jerimum Baixo zone located between Central and Moreira Gomes

Central

Hole 131 was drilled 360m due north of hole 118 (0.5m @ 58.7g/t gold) under a small area of placer workings and intersected 39.4m @ 1.25 g/t gold from 148.2 to 187.6m depth. This new zone has been named Central North and is open in every direction (see map on website). Oriented drill core measurements suggest the gold mineralization intersected in hole 131 trends NW-SE similar to the main Central mineralized zone and the large-scale Tocantinzinho shear that transects the property. Extensive historic gold placer workings occur approximately 500m north of the drill hole location within the Pau de Merenda creek. Additional drilling aimed at defining the strike and down dip extent of this zone is in progress.

Alan Carter, President & CEO of Magellan commented, “Hole 131 is the most important hole reported to date from the 2011 drill program at Cuiu Cuiu and is a significant new discovery. We are excited by the potential of the Central North zone to grow into a third mineralized body at Cuiu Cuiu and look forward to the results of further drilling.”

Drill hole intersections discussed in the text are summarized in the following table:

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths
** Results are pending on holes 132 and 134

Moreira Gomes

Results on three additional step-out holes have been returned from the Moreira Gomes zone which contains an inferred resource of 0.7Moz of gold (14Mt @ 1.5 g/t gold) (see map on website). Hole 125 was drilled on the extreme eastern limit of the deposit in the same fence as hole 122 (see press release dated 31st August 2011), and returned 13m @ 0.58g/t gold from 89.7 to 102.7m depth confirming that the mineralized zone remains open to the east.

Hole 126 and 133 were drilled as step-out holes on the western extremity of Moreira Gomez and despite cutting a strongly altered shear zone, neither hole cut values of significant of interest, although in the case of hole 126, samples have been sent to a second lab for metallic screen fire assay.

Jerimum Baixo

The Jerimum Baixo zone is located between the Central and Moreira Gomes deposits and is not currently part of the resource at Cuiu Ciuu. Previous reconnaissance drilling on this anomaly has returned results up to 105.2m @ 0.6 g/t including 41m @ 1.3g/t gold (see map on website).

Hole 135 was drilled in a NE direction in a location 70m SE of hole 94 which intersected 41m @ 1.3 g/t gold. Hole 135 intersected 17.6m @ 0.42g/t from 0 to 17.6m, 9m @ 0.63g/t gold from 48.1 to 57.1m, 20m @ 0.49g/t gold from 68.1 to 88.1m and 2m @ 6.29g/t gold from 102.1 to 104.1m.

This hole is significant because it demonstrates the NW-SE continuity of mineralization intersected in hole 94. Results are pending on step out holes to the NW and SE.     

   
Magellan currently has three drill rigs operating at Cuiu Cuiu, with drilling expected to continue at least until the end of 2011. Results are currently pending on additional drill holes from Central North, Central SE and Jerimum Baixo.

Current resources at Cuiu Cuiu total 1.2Moz (31Mt @ 1.2 g/t) of gold in the inferred category and 0.1Moz (3.4Mt @ 1.0g/t) of gold in the indicated category.

Holes were drilled at 50 degrees from horizontal.  All core samples (HQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company’s office in Itaituba before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program also includes the insertion of standards, field duplicates and blank material in the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Highlights include 42.6m @ 1.73 g/t gold in hole 124 located at Central and 18.4m @ 0.46 g/t gold in hole 122, located in the eastern part of the Moreira Gomes zone. The Cuiu Cuiu project is located 25km NW of Eldorado Gold's Tocantinzinho project which is currently undergoing a feasibility study.

Central

Results have been received for four holes from the Central zone. Two holes (123 and 127) were drilled to test the northern strike extent of the mineralized zone, one hole (124) was drilled to test the down dip extension, and one hole (128) was drilled in an effort to extend the mineralization cut in hole 121, i.e. 7.8m @ 8.44g/t gold, at Central SE and reported on 21st July 2011 (see map on website). The Central zone currently contains an inferred resource of 0.5Moz (17Mt @ 0.9 g/t gold) and an indicated resource of 0.1Moz (3.4Mt @ 1.0 g/t gold).

Hole 124 was a deep hole designed to test the down dip extent of the main zone intersected in hole 96 (92.4m @ 0.71g/t, + 44.7m @ 0.72g/t, + 60m @ 0.63g/t, + 31.1m @ 0.77g/t gold). The hole intersected 10.1m @ 1.10g/t gold from 366.7 to 376.8m depth as well as 42.6m @ 1.73g/t gold between 411.7 and 454.3m depth demonstrating that the mineralized zone continues at depth (see map on website).

Holes 123 and 127 were drilled 130m and 240m north respectively of hole 118 and were designed to test the northern extensions of the Central zone; in particular the narrow high grade zone intersected in hole 118 (0.5m @ 58.7g/t gold) reported on 21st July 2011.  Hole 123 was stepped back to the east and cut only weak mineralization although the last sample from the bottom of the hole at 492.25m depth returned 0.47g/t gold. Hole 127 cut several zones at depth including 8m @ 0.83g/t gold from 260.5 to 268.5m depth raising the possibility of a mineralized structure parallel to the main Central zone.  

Hole 128 was drilled 600m east of the previously reported hole 121 in Central SE (see press release dated 21st July 2011) which cut 7.8m @ 8.44 g/t gold. The hole cut no significant mineralized intervals although further results are pending from the Central SE area.

Drill hole intersections discussed in the text are summarized in the following table:

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths
**  Hole ended in mineralization
Results are pending on holes 125 and 126

Moreira Gomes

Results on three additional step-out holes have been returned from the Moreira Gomes zone which contains an inferred resource of 0.7Moz of gold (14Mt @ 1.5 g/t gold). All five holes were step-out holes designed to test the eastern and western extensions of the mineralized zone (see map on website).

Hole 122 was drilled 140m east of the previous most easterly hole 81 which cut 7m @ 0.74 g/t gold. The hole was aimed at testing the eastern strike extension to Moreira Gomes and intersected 18.4m @ 0.46 g/t gold demonstrating that the zone continues at least another 140m to the east. The mineralized zone at Moreira Gomes has now been drilled over a total strike length of 1.8km. Further drilling is planned for this area.

Step-out drilling to the west cut a strongly altered shear zone in holes 129 and 130 but returned only weakly mineralized intervals, the most significant of which is 19m @ 0.32 g/t gold in hole 130.

Results are currently pending on an additional 3 holes from Moreira Gomes West and 1 hole from Moreira Gomes East.  

Magellan currently has three drill rigs operating at Cuiu Cuiu, with drilling expected to continue at least until the end of 2011. Results are currently pending on 13 step-out holes and machines are now operating at Moreira Gomes, Central and Jerimum Baixo.

Holes were drilled at 50 degrees from horizontal.  All core samples (HQ diameter) were cut with a diamond saw and one-half of the core placed in bags, numbered and sealed then sent via a secure transport agency to the Company's office in Novo Progresso before shipping via secure transport to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan's QA/QC program also includes the insertion of standards, field duplicates and blank material in the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., a member of AIG,  AUSIMM, and the SEG, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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.

Vancouver, BC, August 29, 2011 – Magellan Minerals Ltd. (TSX-V: MNM) (“Magellan”) is pleased to announce it has signed an option agreement to earn 100% of the Agua Azul gold property located in the prolific Carajas mineral province of northern Brazil.

Agua Azul is a well-known district with historic workings that occur within an EW trending gold belt in south eastern Para state.  The property consists of two exploration licenses comprising 11,458 hectares just west of the town of Agua Azul do Norte, 300km south of the regional center of Maraba.  An additional 27,148 hectares have been staked approximately 20km west of the Agua Azul property in the vicinity of numerous historic alluvial gold producers.  The area has excellent infrastructure and access.  State highway 279 transects the northern part of both licenses and the nearby airport at Ourilandia is serviced by daily flights from Belem via Carajas.

During the late 1980s and early 1990s, over 5,000 garimpeiros (artisanal miners) extracted several hundred thousand ounces of gold from minor drainages and shallow surface workings in bedrock within the license area.  Recently, small scale miners have been exploiting a series of veins and silicified zones up to 8 meters wide that returned values up to 87.7g/t Au in grab samples. 

The area is underlain by an Achaean age metamorphic complex intruded by the 1.89 billion year old Seringa granite.  Several sub-parallel northwest striking gold-bearing structures have been identified across a width of approximately 3km, hosted both in the metamorphic complex and the younger granite. 

Preliminary rock chip sampling by Magellan across quartz veining and peripheral silicification zones at Agua Azul returned values up to 17.46 g/t Au across 5.4m (approximately 4.8m true width). A property-wide soil geochemistry survey is currently underway aimed at identifying prospective drill targets.

The acquisition involves a series of annual payments to Parabras Mineracao starting with a payment of R$100,000 on signing, and a final payment which will be based on the number of proven and probable ounces defined by a feasibility study and a 1% NSR.

Dennis Moore, Magellan’s Vice President of Business Development commented, “The Aqua Azul property is an exciting new project containing high-grade, outcropping gold mineralization in an historic mining area. It is another low cost addition to Magellan’s portfolio of quality Brazilian gold assets, and is the first significant prospect to be identified by Magellan in the prolific Carajas mineral province.”

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos Province of northern Brazil including the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

This press release was reviewed by Gordon Allen, B.Sc., P.Geo, a Professional Geoscientist in British Columbia and a qualified person in compliance with National Instrument 43-101.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com
Website: www.magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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

Vancouver, BC, August 25th, 2011 – Magellan Minerals Ltd. (TSX-V: MNM) (“Magellan”) is pleased to report additional drill results from 5 holes from the Valdette and Demetrio zones at the Coringa project. These holes were drilled to test gold-bearing structures within large soil geochemical anomalies.  Highlights from this set of results include 5.5m @ 6.49g/t gold from the Demetrio zone. 

The objective of this program is to expand on the Coringa resource which currently totals 269,450oz of gold in the measured and indicated categories (982,291t @ 8.53 g/t), and 98,224oz of gold in the inferred category (327,054t @ 9.34 g/t).

Demetrio

The two initial drill holes on the Demetrio structure (111 and 113) were drilled 320m apart.  Results from these holes, as reported in a news release dated July 12th, 2011, include 0.6m @ 9.5g/t gold and 1m @ 4.38g/t gold from Hole 111, and 3m @ 1.26 g/t gold from Hole 113.  Two additional drill holes have been completed at Demetrio.  Hole 115 was drilled 150m northwest of hole 113 and intersected 5.5m @ 6.49g/t gold.  Drill hole 116 was collared 50m north of 115 and cut 3m @ 1.19 g/t gold (see map on website).  All four holes thus far drilled at Demetrio have cut the mineralized zone which has now been traced over a distance of 520m. Further drilling is planned.

Valdette

Results from the three initial holes drilled at Valdette (see July 12th, 2011 news release) included 28m @ 0.64 g/t gold in hole 112,  and 36.7m @ 0.79g/t gold in hole 114.  Results from two additional holes drilled at the Valdette zone are reported below.  Holes 117 and 119 were both step out holes drilled 240m and 430m northwest of hole 114 to test the extension of the Valdette structure. Both drill holes cut the mineralized zone with hole 117 intersecting 29.3m @ 0.24g/t gold from 145.2 to 174.5m depth.  Hole 119 intersected 5.5m @ 0.38g/t gold from 75.5 to 81.0m depth, and 10m @ 0.29g/t gold from 113.5 to 123.5 metres depth (see map on the website).

With results now in on five holes drilled so far at Valdette, the structure has been traced for a total strike length of 750m. The gold-in-soil anomaly extends for 3.8km and further drilling along the assumed strike extensions of the structure is in progress. Results are currently pending on four additional holes.

Mãe de Leite

One hole (118) was drilled in a soil anomaly approximately 200m west of the Mãe de Leite zone and failed to intersect any values of interest.

Analytical results from the Demitrio and Valdette zones discussed in the text are tabulated below.

*   All holes were drilled at -50°.  Dips of the intersected structures are not known, and intersection widths are not necessarily true widths

Drilling is currently in progress at Valdette and on the down dip extensions to the Meio and Serra structures which contain the bulk of the resource at Coringa.

All core samples (HQ diameter) were cut with a diamond saw.  One-half of the core was placed in numbered and sealed bags and sent via a secure transport agency to the Company’s office in Novo Progresso, and subsequently to ACME preparation laboratory in Itaituba for sample preparation.  Core samples were crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus 200 mesh.  From Itaituba, ACME sent the pulp samples to Santiago, Chile for assaying.  Gold analyses were conducted on 30g representative sample cuts using fire assay with an atomic absorption finish.  Other sample cuts were subjected to a 4 acid digestion and analysed for silver and an additional 35 elements using inductively coupled plasma mass spectrometry (ICP-MS).  ACME is an ISO 9001 registered laboratory and has a quality control program in place which includes the insertion of standard, blank, and duplicate samples, as well as conducting repeat analyses.

Magellan’s QA/QC program includes the insertion of standards, field duplicates and blank material into the sample sequence with the normal core samples to monitor sampling variances, laboratory precision and accuracy.

This press release was reviewed by Gordon Allen, B.Sc., P.Geo, a Professional Geoscientist in British Columbia and a qualified person in compliance with National Instrument 43-101.

Magellan Minerals Ltd. (TSX-V: MNM)  is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

For further information, please contact:
Alan Carter, President and CEO
Tel:  604.676.5663
Email:   info@magellanminerals.com

Jennifer Duthie, Corporate Communications Manager
Tel: 778.370.0519
Email: Jennifer@magellanminerals.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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