🕐20.10.11 - 12:54 Uhr

MAGELLAN STAKES ADDITIONAL 57,000 HA IN TAPAJOĢS REGION OF BRAZIL



======================================================================= News Release - October 20, 2011 Magellan Stakes Additional 57,000 ha in Tapaj�s Region of Brazil ======================================================================= Vancouver, BC � Magellan Minerals Ltd.

(TSX-V: MNM) (�Magellan�) is pleased to announce that it has staked an additional 57,000 ha of ground within the Tocantinzinho Trend of the Tapaj�s Gold Province.�The Tocantinzinho Trend is a belt of mineralization roughly 300km in strike length that currently has published resources totaling over 5 million ounces of gold (all categories) in several deposits.

These deposits include Magellan�s Cui� Cui� property where current resources total 0.1 Moz (3.4Mt @ 1.0g/t) of gold in the indicated category and 1.2 Moz (31Mt @ 1.2 g/t) of gold in the inferred category.

The trend also hosts Eldorado Gold Corporation�s Tocantinzinho project which is currently undergoing a feasibility study. 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 Cui� Cui� 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 Tapaj�s region.

At Cui� Cui� 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:� Jennifer Duthie, Corporate Communications Manager Tel: 778.370.0519 Email:
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.
======================================================================= Click or copy and paste the link below to unsubscribe from this list http://dissemination.blendermedia.com:81/u?id=3582798J&n=T&l=magellanminerals_com =======================================================================



Products & Services | Jobs