Magellan Minerals owns two gold projects in the prolific Tapajos region of Brazil - Cuiu Cuiu and Coringa. At Cuiu Cuiu, over 1.3 million ounces of gold have been identified at the Central and Moreira Gomes deposits, with 25,000m of drilling planned in 2011 to expand resources. Coringa has an initial resource of 370,000 ounces and a scoping study indicates potential for profitable underground mining. Magellan is led by an experienced management team and is actively exploring and advancing these projects in 2011.

1. Building gold resources in
the Prolific Tapajos Region
of Brazil
March 2011
TSX-V: MNM | www.magellanminerals.com

2. Safe Harbor Statement
The material presented herein is private and confidential. The contents are not to be
reproduced or distributed to any third party, including the public or press.
Certain statements contained in this presentation constitute forward-looking
statements. These statements relate to future events or the Corporation's future
performance, business prospects or opportunities. All statements other than statements
of historical fact may be forward-looking statements. Forward-looking statements are
often, but not always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect, "may", "will", "project", "predict", "potential", "targeting",
"intend", "could", "might", "should", "believe" and similar expressions. These statements
involve known and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such forward-looking
statements. The Corporation believes that the expectations reflected in those forward-
looking statements are reasonable, but no assurance can be given that these
expectations will prove to be correct and such forward-looking statements should not be
unduly relied upon. These statements speak only as of the date specified. The
Corporation does not intend, and does not assume any obligation, to update these
forward-looking statements.
These forward-looking statements involve risks and uncertainties relating to, among other
things, results of exploration activities, the Corporation's limited experience with
development-stage mining operations, uninsured risks, regulatory changes, defects in
title, availability of materials and equipment, timeliness of government approvals, changes
in commodity and, particularly, diamond, prices, actual performance of facilities,
equipment and processes relative to specifications and expectations and unanticipated
environmental impacts on operations. Actual results may differ materially from those
expressed or implied by such forward-looking statements.
2

3. Magellan – Leaders in exploring the Tapajos
• Projects: two grass roots gold discoveries
• Cuiu Cuiu – moving towards scoping study
• 100,000 oz of gold in Indicated category
• 1,200,000 oz of gold in Inferred category
• 2011 – 25,000m of drilling planned on other targets
• Coringa – advancing towards feasibility
• 270,000 oz of gold in Indicated category
• 100,000 oz of gold in Inferred category
• 2011 – 10,000m of drilling planned on other targets
• Prospective Region: the Tapajos region is the World’s third largest alluvial gold
province, estimated to have produced 20-30 Moz from streams between 1978 and
1995
• Track Record of Discovery: Management is also previously responsible for
discovery of the nearby Tocantinzinho deposit (2.5Moz), now owned by Eldorado
Gold
• Cash: $25M in treasury – Q1, 2011
• News Flow: Four drill rigs currently drilling at Cuiu Cuiu and Coringa.
Two additional rigs scheduled to arrive at Cuiu Cuiu prior to mid-April 2011.
3

4. Proven Management Team
• Jim Stypula, Chairman – previously CEO of Chapleau Resources, financier with 20
years experience in mineral exploration. Founding director of Far West Mining
• Alan Carter, B.Sc., Ph.D., President & CEO, Director – 20 years of experience.
Former Exploration Manager for Rio Tinto and Business Dev. Manager at BHP
Billiton. Director and co-founder of Peregrine Diamonds and Peregrine Metals.
Raised +$100M in capital for mining and exploration companies since 2004
• Dennis Moore, B.Sc., P.Eng., VP Business Development, Director – exploration
geologist with 27 years experience, half of it in Latin America. Responsible for
discovery of the Tocantinzinho deposit, now owned by Eldorado Gold
• Paul Hansed, C.A., B.A., Chief Financial Officer – 20+ years of accounting and
finance experience including 19 years with KPMG in Canada and Europe. CFO of
Magellan Minerals since March 2008.
• Guillermo Hughes, B.Sc., P.Eng., M.Sc., - Chief Geologist – 26 years experience
in the mineral exploration industry including experience in Argentina, Peru and Brazil
• Derek White, B.A., Director – currently Executive VP Bus. Dev. of Quadra Mining
and with 20+ years financial experience in the mining and metals industry. He
worked for Impala Platinum Ltd, Gencor and Billiton, where he was CFO of the Base
Metals Division
• Mario Szotlender, Director – former CEO of Rusoro Mining, Director of Endeavour
Silver and Radius Gold. 20 years experience financing and managing companies
in Latin America
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5. The Tapajos : World’s third largest placer gold belt
• Site of the world’s largest ever gold rush from 1970’s to
1990’s
• Largest alluvial gold province in Brazil, third largest alluvial
gold province in world – previous production from streams
estimated at 20-30 Moz of gold
• Geology is similar to other prolific gold belts (e.g. Eastern
Canada, Western Australia). World-class potential
• Under-explored province. One mid-size deposit discovered
so far: Tocantinzinho (2.5 Moz)
• Kinross, Eldorado and Newmont are active. Eldorado
acquired Tocantinzinho for $122M during mid 2010 and is
currently completing a PFS. Eldorado also spent $5M on a
27% stake in Serabi Mining in 2010
5

6. Key land position in competitive belt
Tocantinzinho
trend
6

7. Cuiú Cuiú and Tocantinzinho
• Cuiú Cuiú is one of the two Cuiu Cuiu
largest historic gold producers 2Moz from streams
+1.3Moz resource
in the Tapajós* to date
• Tocantinzinho (2.5Moz
resource) produced an est.
200,000oz of gold from Tocantinzinho
0.2Moz from streams
garimpeiro surface workings ** 2.5Moz resource
• Cuiú Cuiú is located 25 km
NW of Tocantinzinho. Previous
garimpeiro production of 1.5 -
2Moz
• Tocantinzinho is nearing
completion of PFS scheduled
for Q1 2011
* Source : DNPM
** Source: Melho, R. 2007. A preliminary assesment of the Tocantinzinhop gold project, Tapajos gold province,
Para Brazil. NCL Brazil 43-101 report
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8. Cuiú Cuiú
• 1.2 Moz of Inferred resources
and 0.1 Moz of Indicated gold
identified to date at Central and
Moreira Gomes at grade of 1.2g/t
• 470 Sq km concession, 100%
owned
• 12 km long gold-in-soil anomaly
based on 10,000 soil samples
• 25,000m of drilling (4 rigs)
planned outside existing
resources for 2011 Aerial view of village of Cuiu Cuiu
8

9. Cuiú Cuiú – a district rather than a project
Alluvial gold
workings
Central zone
Areashown
on next
slide
Alluvial gold
workings
Moreira Gomes
9

10. Cuiú Cuiú….1.3Moz and counting
Drilling in relation to soil anomaly
Pau de
Merenda
Babi
30m @ 1.1g/t Jerimum Cima
47m @ 1.8g/t 39m @ 5.1g/t
Central
0.1Moz of Indicated +
Jerimum Baixo
0.5Moz of Inferred
41m @ 1.3g/t
Central SE
Miraboa
West
Miraboa
Moreira Gomes
0.7Moz of Inferred
10

11. Central – 1 of 2 deposits so far at Cuiú Cuiú
• Bulk tonnage open pittable deposit
• Inferred resources to date at Central total
17Mt @ 0.9 g/t gold (0.5Moz) + Indicated
resources of 3.4Mt @ 1.0 g/t (0.1Moz)
• Central deposit currently extends over
approx. 1,000m strike and 450m depth
• Deposit remains open to north, south and
at depth Aerial view of Central deposit looking north
• Additional drilling is in progress
Outline of
mineralized
Stockwork mineralization on surface at Central zone at
Central
11

12. Central
SE-NW section through Central
Typical mineralized interval Central zone – hole CC-55-10, 2.15g/t Au
Central Total Resources
Au Contained
Tonnage
g/t Au
Tonne x 1000 gpt oz.
Indicated
3,400 1.0 100,000
Resources
Inferred
17,000 0.9 500,000
Resources
* Mineral resources are not mineral reserves and do not have demonstrated economic viability. Please note that all figures have been rounded to reflect their
appropriate level of accuracy.
* These resources are constrained by mineable shapes and cut-off grades to meet the requirement that resources must have reasonable prospects for economic
extraction. The mineable shapes are either Lerch-Grossman pits or conceptual underground stopes. Resources falling within the pits are reported at cut-off grades of
12 0.3 gpt Au for fresh rock or 0.4 gpt Au for saprolite. Stope shapes only include blocks above a cut-off grade of 1.3 gpt Au. The cut-off grades consider a gold price of
$1,250 per ounce and metallurgical recoveries of 91% for fresh rock and 66% for saprolite.

13. Central – potential extensions
Untested soil
anomaly
New soil anomaly
to SE of Central
3D and map views of Central body and gold–in-soil
anomaly
13

14. Moreira Gomes – 5km from Central
• Bulk tonnage open pittable
deposit
• Inferred resources to date at
MG total 14Mt @ 1.5 g/t gold
(0.7Moz)
• MG deposit currently extends
over approx. 1,500m strike and
350m depth
• Deposit remains open to east
and at depth. Potential for
parallel structures currently
being tested, e.g 7.5m @
18.8g/t gold Aerial view of Moreira Gomes deposit looking north
• Drilling currently in progress
14

15. Cuiú Cuiú – Moreira Gomes
Alluvial gold of
unknown origin Map shows
satellite image,
grade blocks
(100m below
surface) and drill
hole locations
Drill
Moreira
targets Total Resources
Gomes
Au Contained
Tonnage
g/t Au
Tonne x
gpt oz.
1000
Inferred
14,000 1.5 700,000
Resource
* Mineral resources are not mineral reserves and do not have demonstrated economic viability. Please note that all figures have
been rounded to reflect their appropriate level of accuracy.
* These resources are constrained by mineable shapes and cut-off grades to meet the requirement that resources must have
reasonable prospects for economic extraction. The mineable shapes are either Lerch-Grossman pits or conceptual underground
stopes. Resources falling within the pits are reported at cut-off grades of 0.3 gpt Au for fresh rock or 0.4 gpt Au for saprolite.
15 Stope shapes only include blocks above a cut-off grade of 1.3 gpt Au. The cut-off grades consider a gold price of $1,250 per
ounce and metallurgical recoveries of 91% for fresh rock and 66% for saprolite.

16. Cuiú Cuiú – Moving forward in 2011
• Drilling with four rigs (25,000m
program) – extensions to MG and
Central. Also drilling at J Baixo, J
Cima, Babi, Miraboa and Miraboa W
targets
• Metallurgical test work
• Follow up of other areas with extensive
alluvial gold workings to NW and E
• Updated resource estimate by end
2011
Drilling at Central
16

17. Coringa
• 0.3 Moz of Indicated resources and 0.1 Moz of Inferred gold identified
within three zones, Serra, Meio and Galena – average grade of 9g/t gold
• PEA returned NPV of US$82.5M and IRR is 59% @ US$1200 per oz
• 1.8km of 10km of structures drilled in detail to date. Recent soil sampling
suggests potential for additional +7km of untested structures
• 235 sq km concession, 100% owned
• 10,000m of drilling (2 rigs) planned outside existing resources for 2011
17

18. Coringa – excellent infrastructure
• Located 200km SE of Cuiu Cuiu
• Magellan controls 23,500 ha at Coringa
and has a ROFR on surrounding 180,000
ha
• Located 65km SE of town of Novo
Progreso, 21km E of main BR-163
• Mains power (138kv line) occurs 21km to
west of project
• Ease of permitting due to municipal zone
designation
18

19. Coringa – largely untested
• Sub-vertically dipping quartz veins
within volcanics and granites
• Diamond drilling (11,000m) has
defined >10 km of gold-bearing
veins, of which only 1.8km have
detailed drilling information
• Four high grade zones identified
thus far; Meio, Serra, Galena and
Mae de Leite
• Vein system is open in all
directions
• Drilling in progress with 2 rigs
370,000oz resource
confined to;
Galena
Serra
Meio
0 1km
19

20. Meio Block – consistently high grades
Drill plan
20

21. Coringa – Resource Estimate
Assumes 2g/t Au cut-off, SG of 2.7t/m3 and minimum mining width of 1.5m
Resource represents
less than 20% of vein
system discovered to
date.
Raising the cut-off grade
to 5 g/t gold results in a
M&I resource of 0.563
Mt @ 12.37 g/t gold
(223,914oz) and an
inferred resource of
0.178 Mt @ 14.65 g/t
gold (83,873oz) on a
diluted basis
21

22. Coringa – Scoping Study
• Scoping study indicates a project
IRR of 34% and an NPV @ 5% of
$41.3M assuming $950 per oz
• Based on 400t/d cut and fill
underground mine producing
36,000oz / yr. Processing via
crushing and CIL circuit
• Initial Capex of US$26.4M.
Operating cash cost of US$418/oz
and payback period of 3.7 years
Coringa Camp
• Process recovery = 93.8%. Actual
recoveries at Serra and Meio are
99.0% and 97.7% respectively
• NPV @ $1200 per oz is US$82.5M
and IRR is 59%
Mineralized
intercept DDH
22 62 Meio zone

23. Coringa – Upside
• Recent soil sampling has
identified two major new
and untested gold in soil
anomalies
• 10,000m drill program will
start March 2011 aimed at
New soil
expanding resources anomalies
• Recon. work in progress
on other gold drainage
anomalies and showings
Grab sample from surface 2.5km SE of Come Quieto
23

24. Coringa – Moving forward in 2011
• Drilling with two rigs (10,000m
program) outside existing resources
• Follow up sampling of other target
areas on project, e.g. Sal, Pista,
Jatoba, Come Quieto Sur
• Updated resource estimate by end
2011
• Commencement of feasibility study –
early 2012
Drilling at Coringa project
24

25. Mato Grosso JV
• Magellan has acquired a 35% - 50%
interest in 320,000ha of the Baixada
Cuiaba gold belt in southern Mato
Grosso
• Excellent access with power and
water. Flat terrain - cattle farming
• The belt is characterised by an E-W
Proterozoic fold and thrust schist belt
extending 100km in length
• Approx. 20 small open pit mines are
currently in production. +100
abandoned open pits
• Belt has potential to host several
large low grade (0.5 – 1.0g/t) Au
deposits
Oregon pit,
Pocone; approx
1km in diameter
25

26. Corporate Information
Capital Structure
Shares outstanding 108.4M
Major shareholders
Options 4.1M Management 11%
Warrants 9.3M Institutions 45%
Fully Diluted 123.3M Newmont 2.5%
Cash $25M Kinross 1%
Market Cap. $140M
Recent Financings
Closing No. of shares Price Warrants Amount
Feb 2008 (IPO) 11M $1.00 expired $11M
Dec 2009 18.3M $0.70 ½ @ $1.00 $12.8M
June 2010 10M $0.75 none $7.5M
Oct 2010 19.2M $1.20 none $23M
26

27. Further Information
Canada Brazil
Alan Carter Dennis Moore
President & CEO VP Business Development
Suite 1650 – 409 Granville St., Avenida Brigadeiro Haroldo Veloso, N.º 243, Bairro
Vancouver, BC, V6C 1T2 Aeroporto Velho, 68181-030, Itaituba, Pará
Tel. + 1 604 676 5663 Tel. + 55 (93) 3518-1953
Fax + 1 604 676 5664 Fax + 55 (93) 3518-1953
alan@magellanminerals.com info@magellanminerals.com
Lawyers Auditors
Morton & Company PricewaterhouseCoopers
1200-750 West Pender Street 700-250 Howe Street
Vancouver, BC Vancouver, BC
Canada V6C 2T8 Canada V6C 3S7
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