MAGELLAN COMMENCES DRILLING AT CUIU CUIU

Vancouver, BC, September 28, 2009 ? Magellan Minerals Ltd. (TSX-V: MNM) (?Magellan?) is pleased to announce the commencement of additional drilling at its Cuiu Cuiu gold project in northern Brazil.

Cuiu Cuiu is located 180km SW of the town of Itaituba in northern Brazil and previously produced an estimated 1.5 ? 2.0Moz of alluvial gold. Magellan has identified five major gold-in-soil anomalies at Cuiu Cuiu as well as numerous other gold showings resulting from prospecting. Previous drilling has returned values up to 220m @ 2.02g/t Au at the Central zone, and 39m @ 5.13 g/t at the Jerimum de Cima zone (as announced in news releases on June 2, 2008 and April 30, 2008, respectively).

A minimum of 2000m of drilling is planned and is aimed at defining the limits to mineralization at the Central target, as well as testing the previously untested Moreira Gomes target which is located approximately 5km SE of Central. Previous soil sampling by Magellan in the Moreira Gomes area defined a gold-in-soil anomaly which extends for 1.5km in an E-W direction and is coincident with a magnetic low.

This press release was reviewed by Dennis Moore, B.Sc., M.Eng., member of AusIMM & SEG., a director and officer of Magellan, and a qualified person in compliance with National Instrument 43-101.

Magellan is a well financed mineral exploration company with a principal focus on exploring for gold in the Tapajos Mineral Province of northern Brazil.

For further information, please contact:

Alan Carter

President and CEO

Tel:       604.676.5663

Email:   info@magellanminerals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.