Magellan Minerals Ltd. (TSX VENTURE:MNM) (OTCQX:MAGNF) ("Magellan") is pleased
to report that drill results have been received from six additional diamond
drill holes recently completed at the Coringa project located in the southern
part of Para state in northern Brazil. Coringa is located in an area of
excellent infrastructure and is situated just 20km east of the main BR-163
highway and the Curua - Novo Progresso power line.


These holes are part of the drill program announced in March (see press release
dated 12th March 2013) and partially reported on 29th August 2013. They were
designed to test certain portions of the resource that were designated as
Inferred resources.


Highlights include:- 



--  3m @ 12.58 g/t gold in hole 176 and 2.2m @ 4.91 g/t and 0.5m @ 8.78 g/t
    gold in hole 178 from the Mae de Leite zone. Hole 176 is the deepest
    hole drilled so far in the Mae de Leite block and extends the depth of
    the zone to a vertical depth in excess of 200m. The zone remains open at
    depth. 
--  1.7m @ 12.05 g/t gold from hole 179 at Serra which was drilled in the
    southern portion of the Serra zone. The zone remains open at depth and
    to the south 
--  2m @ 7.05 g/t gold in hole 174 from the Come Quieto zone representing
    the best and deepest drill intersection from Come Quieto to date. The
    zone remains open at depth



The six holes reported here, which total 1,455m, were drilled to a maximum depth
of 300m and were largely designed to test the inferred resources at depth and
down dip at the Come Quieto, Mae de Leite and Serra zones. All of the holes
intersected mineralized vein material. 


Of particular note are the results from the Mae de Leite zone which is located
1km WSW of the Serra zone and 2.5km NW of the Meio zone. Hole 176 at Mae de
Leite cut 3m @ 12.58 g/t gold approximately 100m below hole 96 which previously
intersected 1.3m @ 7.89 g/t gold. Hole 178 similarly intersected 2.2m @ 4.91g/t
gold 90m below hole 101 which previously cut 3.6m @ 0.85 g/t gold (see maps and
sections on website). These holes have extended the grade and the vertical depth
of Mae de Leite to more than 200m, and suggest that the zone remains open at
depth. 


Hole 179 at Serra was drilled in the southern part of the zone and intersected
1.7m @ 12.05 g/t gold confirming that the Serra zone remains open at depth to
the south (see long section on website). The strike length of the Serra
structure is now 1.35km in length. The most southerly hole at Serra which was
drilled as part of this program (see press release dated 29th August 2013), was
hole 161 which cut 1.5m @ 3.09 g/t gold including 0.5m @ 8.03 g/t gold.


Hole 174 at Come Quieto intersected 8m @ 2.05 g/t gold including 2m @ 7.05 g/t
gold. The hole is the best hole drilled to date at Come Quieto and was drilled
at the southern edge of the zone approximately 50m south and 40m down dip of
hole 122 which previously cut 3m @ 5.1g/t gold and 20m north of hole 120 which
intersected the mineralized structure but returned only low gold values
including 0.6m @ 1.52g/t gold and 0.6m @ 0.97g/t gold (see map on website). The
mineralized zone at Come Quieto remains open at depth.


The complete summary of significant intersections is as follows:-



----------------------------------------------------------------------------
Hole ID                                                Interval             
                                                          Width             
                                From (m)      To (m)     (m)(i)   Gold (g/t)
----------------------------------------------------------------------------
Come Quieto                                                                 
----------------------------------------------------------------------------
  DDH 174                         170.0       178.0         8.0        2.05 
  --------------------------------------------------------------------------
  Incl.                           171.0       173.0         2.0        7.05 
  --------------------------------------------------------------------------
  DDH 175                         202.1       202.6         0.5        1.01 
----------------------------------------------------------------------------
                                  204.0       204.5         0.5        1.15 
----------------------------------------------------------------------------
                                  283.3       283.8         0.5        1.55 
----------------------------------------------------------------------------
Mae de Leite                                                                
----------------------------------------------------------------------------
  DDH 176                         205.8       206.3         0.5        3.82 
----------------------------------------------------------------------------
                                  207.1       210.1         3.0       12.58 
----------------------------------------------------------------------------
  DDH 178                         141.8       144.0         2.2        4.91 
----------------------------------------------------------------------------
                                  151.0       152.2         1.2        1.65 
----------------------------------------------------------------------------
                                  160.8       161.3         0.5        8.78 
----------------------------------------------------------------------------
Serra                                                                       
----------------------------------------------------------------------------
  DDH 177                         183.5       184.0         0.5        0.80 
----------------------------------------------------------------------------
                                  186.0       186.6         0.6        0.68 
----------------------------------------------------------------------------
  DDH 179                         213.0       214.7         1.7       12.05 
----------------------------------------------------------------------------
1   All holes were drilled at between -55 degrees and -75 degrees. Dips of
    the intersected structure at Come Quieto, Mae de Leite and Serra are not
    known, and intersection widths are not necessarily true widths          
2   True widths at Serra and Mae de Leite are estimated at 75-95% of the    
    drill intersections                                                     
3   True widths at Come Quieto are estimated at 60-80% of the drill         
    intersections.                                                          
4   Holes 169-173 were condemnation holes specifically designed to test the 
    proposed sites for the plant and tailings disposal. None of the four    
    holes intersected significant mineralization.                           



Commenting on the results of the 2013 infill drill program at Coringa, Alan
Carter, President and CEO commented "the recent drill program at Coringa was
designed to test the boundaries of the known mineralization at the Serra, Mae de
Leite and Come Quieto zones and extended the mineralization in several
directions particularly to depth in all three zones. This round of drilling has
built on our previous work which demonstrates that Coringa is one of the
largest, high grade undeveloped gold deposits in Brazil".


Holes were drilled at between 55 and 75 degrees from horizontal. All core
samples (NQ diameter) were cut with a diamond saw and one-half of the core
placed in bags, numbered and sealed then sent via a secure transport agency to
the Company's office in Itaituba before shipping via secure transport to ACME
preparation laboratory in Itaituba for sample preparation. Core samples were
crushed down to 2 mm and a 1 kg split was pulverized to better than 85% minus
200 mesh. From Itaituba, ACME sent the pulp samples to Santiago, Chile for
assaying. Gold analyses were conducted on 30g representative sample cuts using
fire assay with an atomic absorption finish. ACME is an ISO 9001 registered
laboratory and has a quality control program in place which includes the
insertion of standard, blank, and duplicate samples, as well as conducting
repeat analyses.


Magellan's QA/QC program also includes the insertion of standards, field
duplicates and blank material in the sample sequence with the normal core
samples to monitor sampling variances, laboratory precision and accuracy.


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 (TSX VENTURE:MNM)(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 Coringa project is currently the
subject of a Feasibility Study and 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). 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).


Neither the 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.


This news release contains forward-looking statements. 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. Particular risks applicable to this
press release include risks associated with achieving production on the project
within the parameters identified in the economic assessment, the ability of the
project to generate significant cash flow to the company and earnings to the
shareholders of the company. These statements are subject to risks due to
regulatory, technical, economic and other factors. In addition there is no
guarantee that additional exploration work will result in significant increases
to resource estimates. The reader is referred to the Company's most recent
annual and interim Management's Discussion and Analysis for a more complete
discussion of such risk factors and their potential effects, copies of which may
be accessed through SEDAR at http://www.sedar.com.


News release #2013-9 

FOR FURTHER INFORMATION PLEASE CONTACT: 
Magellan Minerals Ltd.
Alan Carter
President and CEO
604.676.5663
info@magellanminerals.com
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