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Magellan Commences Drilling at Coringa as Part of Feasibility Study
Published : March 12, 2013
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2013) - Magellan Minerals Ltd. (News - Market indicators)(OTCQX:MAGNF) ("Magellan") is pleased to announce the commencement of diamond drilling at its Coringa project located in the southern part of Para state in Brazil.

The drill program forms part of the ongoing feasibility study at Coringa (see press release dated 15th January 2013). The specific objectives of this program are to upgrade the inferred resources at the Serra, Come Quieto and Mae de Leite zones and expand the total resource base at Coringa. The program will consist of an initial 2500m with an option to increase the total to 5000m. A total of 16 initial holes are planned initially with results anticipated during the second quarter of 2013.

An update on the ongoing feasibility study at Coringa is planned for late March 2013, with an anticipated completion of September / October 2013.

This press release was reviewed by Guillermo Hughes, B.Sc., a member of the AIG and the AUSIMM, a qualified person in compliance with National Instrument 43-101.

Magellan Minerals (News - Market indicators)(OTCQX:MAGNF) is a TSX Venture Exchange listed exploration and development company with two advanced gold properties in the Tapajos Province of northern Brazil. The Cuiu Cuiu project contains 100,000oz of gold in the Indicated category (3.4Mt @ 1.0g/t gold) and 1,200,000oz of gold in the Inferred category (31Mt @ 1.2g/t gold). The Coringa project contains Measured and Indicated resources of 561,000oz of gold (3.2Mt @ 5.5g/t gold) and Inferred resources of 534,000oz of gold (5.5Mt @ 3.0g/t gold).

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, the preparation of a feasibility study on the project, 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. Readers should not assume that the company's plans to prepare a feasibility study mean that a feasibility study can or will be prepared. There is no guarantee that a feasibility study will be prepared or, if prepared, that it will be commenced in the timeframe set out in this news release.

News Release #2013-04

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

Magellan Minerals Ltd.
Alan Carter
President and CEO
604.676.5663
info@magellanminerals.com
www.magellanminerals.com

Magellan Minerals Ltd

EXPLORATEUR
CODE : MNM.V
ISIN : CA55908M1086
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Magellan est une société d’exploration minière d'or basée au Canada.

Ses principaux projets en exploration sont PORQUINHO, CORINGA, MARANHENSE, MATO VELHO, JERIMUM BAIXO, UNIÃO, NHAMUNDÁ et CUIU CUIU au Bresil.

Magellan est cotée au Canada. Sa capitalisation boursière aujourd'hui est 15,4 millions CA$ (12,0 millions US$, 10,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 17 décembre 2010 à 1,94 CA$, et son plus bas niveau récent le 22 janvier 2016 à 0,03 CA$.

Magellan possède 205 850 000 actions en circulation.

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Financements de Magellan Minerals Ltd
24/12/2009Completes $21 Million Brokered Private Placement
03/06/2010Completes $7.5 Million Brokered Private Placement
11/12/2009Announces $20 Million Brokered Private Placement
Nominations de Magellan Minerals Ltd
05/07/2011Gord Allen Joins Magellan as Head of Regional Exploration
Projets de Magellan Minerals Ltd
08/04/2015(Coringa).: Feasibility Study Resource Estimate at Coringa Returns In...
29/08/2013(Coringa)Reports Results from Infill Drilling at the Coringa Project,...
27/06/2013(Coringa)Confirms Metallurgical Results as Part of Feasibility Study ...
17/04/2013(Coringa)Provides Update on Feasibility Study at the Coringa Project,...
12/03/2013(Coringa)Commences Drilling at Coringa as Part of Feasibility Study
05/02/2013(Cuiu Cuiu)Reports Results from Exploration Drilling at Cuiu Cuiu Proje...
15/01/2013(Coringa)Announces the Initiation of a Feasibility Study for the Cori...
11/10/2012(Cuiu Cuiu).: Channel Sample Results From Ivo Zone at Cuiu Cuiu Return ...
28/06/2011(Coringa)Adds Third Drill Rig at Coringa Project and Identifies New M...
12/04/2011(Coringa)Surface sampling at Coringa project extends main structure 3...
08/04/2011(Coringa)Trench Results from the New Valdette Zone at Coringa, Brazil...
08/04/2011(Coringa)Trench results from the new Valdette zone at Coringa, Brazil...
08/03/2011(Cuiu Cuiu)Announces Initial Resource Estimate at Cuiu Cuiu Project, Br...
08/06/2010(Cuiu Cuiu)Drills 136.2m at 0.91g/t Gold and Extends Central Zone by 23...
27/05/2010(Coringa)Extends Meio Zone at Coringa Project and Expands Drill Progr...
18/05/2010(Coringa)Options an Additional 1,917 Hectares East of Coringa Gold Pr...
07/04/2010(Coringa)Provides Update on Coringa Project
28/09/2009(Cuiu Cuiu)Commences Drilling at Cuiu Cuiu
14/09/2009(Cuiu Cuiu)Provides Exploration Update on Cuiu Cuiu and Coringa Project...
Communiqués de Presse de Magellan Minerals Ltd
19/01/2016Magellan Makes US$500,000 Troy Payment
18/12/2015Magellan Extends Troy Agreement; Ken Nilsson Joins Magellan ...
03/11/2015Magellan Expands Non-Brokered Private Placement to $1,100,00...
24/09/2015Magellan Pays Troy Deposit Regarding Andorinhas Processing P...
23/09/2015Magellan Appoints Zengliang Li to Board of Directors
26/08/2015Magellan Agrees to Acquire Andorinhas Processing Plant, Asso...
04/08/2015Magellan Announces $500,000 Non-Brokered Private Placement
08/04/2015Feasibility Study Resource Estimate at Coringa Returns Incre...
08/04/2015Magellan Minerals Ltd.: Feasibility Study Resource Estimate ...
02/12/2014Magellan Completes Third and Final Tranche of $3,000,000 Pri...
17/10/2014Magellan Completes Second Tranche of $3,000,000 Private Plac...
23/09/2014Magellan Completes First Tranche of $3,000,000 Private Place...
04/09/2014Magellan Announces $3,000,000 Private Placement
11/08/2014Magellan Completes Shares for Debt Settlement
31/07/2014Magellan Enters Into Debt Settlement Agreement
06/05/2014Termination of Letter of Intent on Pocone Project, Brazil
11/09/2013(Coringa)Drills 3m @ 12.58 g/t Gold and Extends Three Key Zones at th...
12/06/2013(Coringa)Agrees Financial Advisory Role with Endeavour Financial for ...
12/12/2012(Coringa)Announces the Filing of a Preliminary Economic Assessment fo...
14/11/2012(Cuiu Cuiu)Commences Drilling at Ivo and Ratinho Targets, Cuiu Cuiu Pro...
01/11/2012(Coringa)Announces Positive Preliminary Economic Assessment for the C...
23/10/2012(Cuiu Cuiu)Trenching Returns 5m @ 54.8g/t Gold from the Ivo Zone at Cui...
12/07/2011(Coringa)Reports Initial Drill Results Including 36.7m @ 0.79g/t Gold...
31/05/2011Announces Voting Results of 2011 Shareholders Meeting
17/05/2011(Coringa).: Trench Results From Coringa Expand Valdette Zone and Iden...
12/05/2011(Cuiu Cuiu)Drills 24m @ 4.06 g/t Gold at Eastern Extension to Moreira G...
29/04/2011Adopts Shareholder Rights Plans and Grants Stock Options
08/04/2011is Pleased to Announce that National Bank and Mackie Researc...
18/08/2010Drills 84m @ 1.24 gold and extends mineralized zone by 600m ...
22/07/2010Drills 112m of 1.70g/t Gold at Moreira Gomes
08/07/2010Drills 53.6m @ 1.3g/t Gold and Continues to Expand Central Z...
23/06/2010Drills 32.1m @ 1.05g/t gold at Moreira Gomes
18/11/2009Signs Deal to Acquire Majority Interest in Creporizinho Gold...
14/05/2010Announces up to $7.5 Million Equity Financing
28/01/2010Drills 82.5m @ 1.02 g/t Gold and Extends Central Zone
05/01/2010Commences Preliminary Economic Assessment at Coringa
08/10/2009Reports Initial Resource Estimate at Coringa Project
01/09/2009Completes Plan of Arrangement with Chapleau
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