Magellan Minerals Ltd. is a well financed Canadian-based junior exploration company focused on mineral exploration and development in the state of Para in northern Brazil. The Company has interests in a number of properties in the Tapajos region which has a historic gold production estimated at 20-30Moz of gold. Magellan is searching for the source of this gold and is primarily focused on the Cuiú Cuiú and Coringa projects. Coringa was recently acquired in September 2009 as part of the acquisition of Chapleau Resources Ltd. The Company has to date identified 269,500 ounces of Measured and Indicated Resources, plus Inferred Resources of 98,224 ounces on the Coringa Project.
