Magellan Minerals is advancing its Coringa gold project in Brazil towards production. The project currently has a resource of 269,000 ounces of gold in the measured and indicated categories and 98,000 ounces in inferred. Magellan plans to complete a feasibility study in 2014 and make a construction decision for an underground mine at Coringa. The company also holds the Cuiu Cuiu project which has over 1.2 million ounces of gold in inferred resources across two deposits and the potential to be a large gold district. Magellan is led by a proven management team with extensive experience exploring and developing projects in Latin America.

1. Advancing towards
production in Brazil
February 2012
TSX-V: MNM, OTCQX: MAGNF | 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, gold 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. Investment Highlights
• Coringa gold project (269,000oz M&I - 8.5g/t gold and 98,000oz Inferred –
9.34 g/t gold) currently undergoing significant NI-43-101 resource update
(expected March 2012). PEA returned 34% IRR @ $950/oz gold price
• Feasibility study will commence at Coringa during Q3 2012. Trial mining
license granted
• Cuiu Cuiu gold project (0.1Moz Indicated and 1.2Moz Inferred – 1.25g/t gold).
Scoping study expected to commence Q2 2012
• Kinross and Newmont are both shareholders
• The most successful grass roots gold exploration team currently active in
Brazil (3 gold discoveries in 7 years with 43-101 compliant resources of
4.1Moz and growing; Tocantinzinho, Coringa and Cuiu Cuiu)
3

4. Proven Management Team
Jim Stypula Gordon Allen
Chairman Head, Regional Exploration
• Previously CEO of Chapleau Resources, financier with 20 • 35 years experience in the mineral exploration industry,
years experience in mineral exploration predominantly in Latin America
• Founding director of Far West Mining • Responsible for discovery of the Santo Domingo IOCG
deposit of Far West Mining
Alan Carter
Derek White
President & CEO, Director
Director
• 20 years of experience. Former Exploration Manager for Rio
• Currently Executive VP Bus. Dev. of Quadra Mining and
Tinto and Business Dev. Manager at BHP Billiton. with 20+ years financial experience in the mining and
• Director and co-founder of Peregrine Diamonds and metals industry
Peregrine Metals • Ex-Impala Platinum Ltd, Gencor and Billiton
Dennis Moore Mario Szotlender
VP Business Development, Director Director
• Exploration geologist with 27 years experience, half of it in • Former CEO of Rusoro Mining, Director of Endeavour Silver
Latin America and Radius Gold.
• Responsible for discovery of the Tocantinzinho deposit, now • 20 years experience financing and managing companies in
owned by Eldorado Gold Latin America
Paul Hansed Richard Zimmer
Chief Financial Officer Director
• 20+ years of accounting and finance experience including • Former senior mine engineer for Teck,
19 years with KPMG in Canada and Europe general manager of Mount Edon Gold
Mines, and project manager of POGO
project.
Guillermo Hughes
Chief Geologist • Most recent role was President & CEO
of Far West Mining Ltd.
• 26 years experience in the mineral exploration industry
4 including experience in Argentina, Peru and Brazil

5. Significant Gold Deposits in Brazil
5

6. Key Land Position in Competitive Belt
Tapajos
Site of world’s largest ever gold
rush from 1970’s to 1990’s
Largest placer gold province in
Brazil, 3rd largest placer gold
province in world – previous placer
production est. 20-30 Moz
6

7. Coringa – location and infrastructure
• Good infrastructure: 20km east of main BR-
163 paved highway and mains power
• 50km SSE of Novo Progresso, town of
10,000 people with scheduled flights to
Cuiaba and Sao Paulo
• Trial mining license granted Recently paved BR-163
• Airport at Novo Progresso recently upgraded
with daily scheduled TRIP flights
Novo Progresso
Coringa
BR-163
Power line
Town of Novo Progresso
7

8. Coringa - resource
Total Resources
• Narrow high grade extensive vein system Tonnage
Au Contained
g/t Au
extending over +10km strike. Resource based
Tonne x
on just 3 zones; Serra, Meio, Galena 1000
gpt oz.
• Initial 43-101 resource estimate released Measured
September 2009 based on 81 holes (8,750m) and Indicated 982.3 8.53 269,450
Resources
• 73 additional holes (14,091m) completed
since resource estimate Inferred
327.1 9.34 98,224
Resources
• Revised resource estimate expected early
Assumes 2g/t Au cut-off, SG of 2.7t/m3 and minimum
March 2012 mining width of 1.5m
3D block model: Serra zone
8

9. Coringa - resource expansion
• 71% of the current resource at Coringa is contained
within the Serra body
• Drilling since late 2008 has expanded Serra from 900m
to 1100 m length and 80 to 180m depth
• Remains open at depth and along strike to north
Mineralized drill core : Serra zone
Longitudinal section (grade x thickness): Serra zone
9

10. Coringa – PEA
• IRR 34%
• NPV5 $41.3M
• Au price $950 / oz
• Mining rate 400t/d u/g mine
• Annual prod. 36,000oz / yr
• Capex US$37.5M
Coringa exploration camp
• Opex US$418/oz
• Au recovery 94%
• Payback period 3.7 years
10

11. Coringa - upside
370,000oz resource
• Emerging vein district; +15km of
mineralized structures mapped to
date. Resources currently
confined to ~2km of strike
• Structures tested down to a
maximum depth of 180m. All are
open at depth
• New zones at Valdette, Demetrio,
Meio Onca, Come Quieto and
Mae de Leite will be included in
new 43-101 resource estimate
• Major new untested soil
anomalies
11

12. Coringa Timeline
2012 2013 2014 2015
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Revised Resource Estimate
Updated PEA
Definition drilling
Feasibility Study
Construction decision
Mine Construction
Production
12

13. Cuiu Cuiu and Tocantinzinho
• Tocantinzinho (2.5Moz)
produced an est. 200,000oz of Cuiu Cuiu
2Moz from streams
placer gold from artisanal +1.5Moz resource
to date
surface workings. Cuiu Cuiu
produced 1.5 – 2Moz of placer
gold*
road
• Eldorado’s announced PFS in Tocantinzinho
0.2Moz from streams
May 2011 on 160,000oz/yr OP 2.5Moz resource
mine, Capital costs of $383M,
Cash costs of $559/oz and
11.8% IRR (14.4% with tax
breaks)
Rio Crepori
• Road construction to
Tocantinzinho site in progress
• FS study on Toca currently in
progress and expected to be
completed during Q2 2012
* Source: Melho, R. 2007. A preliminary assesment of the Tocantinzinhop gold project, Tapajos gold province,
Para Brazil. NCL Brazil 43-101 report
13

14. Cuiú Cuiú
Contained
Tonnage Au
Au
• Maiden resource estimate released in April Tonne x 1000 gpt oz.
of 1.3Moz (mineable), 1.5Moz (geological)
Central 3,400 1.0 100,000
– two deposits; Central & Moreira Gomes
Total Indicated
3,400 1.0 100,000
• Recent metallurgical work returned gold Resources
recoveries of 94-97% from conventional Central 17,000 0.9 500,000
grind and CIL cyanidation
Moreira Gomes 14,000 1.5 700,000
• Two new deposits discovered in 2012; Inferred
31,000 1.2 1,200,000
Central North and Jerimum Baixo – both of Resources
which are still open
• Scoping study planned to commence Q2
2012
• Numerous partially tested and untested
exploration targets. Gold in soil anomaly
17km in length
14

15. Cuiú Cuiú – a District Rather Than a Project
Placer workings and soil anomalies
Placer gold
workings
? ?
Gold in soil anomaly
17km in length
Au in soils (ppb)
Placer gold
workings
Central North
Jerimum Baixo
?
Central deposit 0.6Moz ?
Moreira Gomes deposit 0.7Moz
15

16. Cuiú Cuiú
Pau de Merenda
30m @ 1.1g/t, 47m @ 1.8g/t
Jerimum Cima
Central North 39m @ 5.1g/t
Resource pending
Central
Indicated 3.4Mt @ 1.0g/t
Inferred 17Mt @ 0.9 g/t
Jerimum Baixo
Resource pending
Central SE
27m @ 6.9g/t, 8m @ 8.4g/t
Moreira Gomes
Inferred 14Mt @ 1.5 g/t
16

17. Central
• 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
Aerial view of Central deposit looking north
• Deposit remains open at depth
Outline of
mineralized
Stockwork mineralization on surface at Central zone at
Central
17

18. 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
18 of 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.

19. Moreira Gomes
• Bulk tonnage open pittable
deposit
• Inferred resources to date at
MG total 14Mt @ 1.5 g/t gold
(0.7Moz)
• MG deposit extended along
strike to 2km
• Deposit is open at depth and to
east Aerial view of Moreira Gomes deposit looking north
Moreira
Total Resources
Gomes
Tonnes Au Contained Au
Tonne x 1000 gpt oz
* Mineral resources are not mineral reserves and do not have demonstrated economic Inf.
viability. Please note that all figures have been rounded to reflect their appropriate level 14,000 1.5 700,000
*
of accuracy.
These resources are constrained by mineable shapes and cut-off grades to meet the
Resource
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. 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
19 recoveries of 91% for fresh rock and 66% for saprolite.

20. Jerimum Baixo
• Discovered mid-2012
• Deposit is currently 35m
x 450m x 200m depth
and is open at depth and
to east
• No resource estimate to Open
date
Jerimum Baixo discovery
outcrop – sheeted / stockwork
vein system
20

21. Central North
• Discovered late-2012 Open
• Located 300-600m north of
Central zone
• Deposit is currently extends
over strike length of 350m and
is open
• No resource estimate to date
Open
Central North deposit
Drilling at Central North
21

22. Cuiu Cuiu - Exploration Targets
• Extensions to existing Pau de Merenda
deposits 30m @ 1.1g/t, 47m @ 1.8g/t
Moreira Gomes is open to East
Jerimum Cima
Central North is open to NW and SE Central North 39m @ 5.1g/t
J Baixo is open to East
• Numerous untested and
partially tested gold-in- Central
Jerimum Baixo
soil anomalies
Central SE Ivo
Pau de Merenda; 47m @ 1.8g/t gold 27m @ 6.9g/t, 8m @ 8.4g/t
J Cima; 39m @ 5.13 g/t gold
Central SE; 27m @ 6.9 g/t gold Moreira Gomes
Miraboa West
Miraboa, Miraboa West, Ivo etc
• Numerous largely Miraboa
untested high grade
Cuiu Cuiu - gold-in-soil map showing location of targets
veins
Machiche; 225.77 g/t, 3.3m @ 7.43 g/t
Geraldo; 103.21 g/t gold
Bx de Onca; 87.75 g/t gold
Bx de Aviao; 63.28 g/t gold
Chiqueirinho; 46.29 g/t gold
Guarim; 0.5m @ 30.2 g/t gold
22

23. Cuiu Cuiu Timeline
2012 2013 2014 2015
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
PEA
Infill drilling
Pre-feasibility study
Feasibility Study
Construction decision
Mine Construction
Exploration
drilling
23

24. Mato Grosso JV
• Magellan has 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. 40 small open pit mines are
currently in production. +100 abandoned
open pits. Rocks have very low work index
• Belt has potential to host several large low
grade (0.5 – 1.0g/t) Au deposits
24 Oregon pit, Pocone; approx 1km in diameter

25. Mato Grosso JV
Cangas
Pocone
Oregon
Beto Rondon
Dei
Ouro Fino
Jonas
Pocone area showing distribution of open pit Cangas area showing distribution of open pit
gold mines along trend 4.8km SW of Pocone gold mines along trend 6km SW of Cangas
25

26. Corporate Information
Capital Structure Investor Summary
Shares Issued and Share Price (Jan 31/12) $0.54
Outstanding 109.4 M
Market Cap (Jan 31/12) 59 M
Fully Diluted 117 M
Avg. Daily Volume (3 months) 158,000
Analyst Coverage Shareholders
Mackie Research Management 11%
National Bank Institutions 45 %
Newmont 2.5%
Kinross 1%
26