Magellan Minerals Ltd.

Magellan Minerals Ltd.

July 05, 2011 09:30 ET

Gord Allen Joins Magellan as Head of Regional Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 5, 2011) - Magellan Minerals Ltd. (TSX VENTURE:MNM) ("Magellan") is pleased to report that Gord Allen has joined Magellan as regional geologist and will be responsible for all of Magellan's generative gold exploration programs in Brazil outside Cuiu Cuiu and Coringa.

Gord Allen graduated from the University Of British Columbia with a B.Sc. (Honours) in Geology in 1975. Since then he has worked for a number of different companies in a variety of locations including Canada, U.S., Latin America and Africa. Gord was instrumental in the discovery of the Santo Domingo Cu-Fe deposit of Far West Mining (now Capstone) in Chile that has an indicated mineral resource of 486Mt at a copper-equivalent grade of 0.57% and an additional inferred mineral resource of 61Mt at a copper-equivalent grade of 0.46%.

Gord joins a technical team at Magellan that includes Guillermo Hughes and Dennis Moore which so far has three grass-roots gold discoveries in Brazil to its credit, including the Central and Moreira Gomes deposits at Cuiu Cuiu and the Coringa deposit.

Alan Carter, President & CEO commented, "We are extremely pleased to have Gord join us at a very exciting time for Magellan and its shareholders. We currently have six rigs drilling at Cuiu Cuiu and Coringa as well as an extensive land position in the Tapajos region of Brazil which produced an estimated 20-30 Moz of placer gold between 1978 and 1995. Our ability to attract a senior geologist of Gord's calibre and track record speaks to the quality and potential of our projects and we look forward to Gord's input as we attempt to add to our current portfolio of gold discoveries in Brazil."

Magellan is a TSX Venture Exchange listed exploration company with a number of gold exploration properties in the Tapajos Province of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where resources now total 0.4Moz of gold in the Measured and Indicated category and 1.3Moz of gold in the Inferred category. Drilling is currently in progress.

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

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