Magellan Minerals Ltd. (TSX-V: MNM) is a well financed, Canadian-based junior exploration company focused on mineral exploration and development in the state of Para in northern Brazil. The Company has interests in a number of properties in the Tapajos region which has a historic gold production estimated at 20-30Moz of gold. The Company has two advanced gold projects, Cuiu Cuiu and Coringa.

1. Building Gold Resources in
Brazil’s Tapajos Region
September 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.
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3. Why Invest in Magellan?
• Region with Excellent Potential: the Tapajos is the World’s third
largest placer gold province, estimated to have produced 20-30 Moz
from streams between 1978 and 1995 from artisanal, garimpeiro-
type miners
• Experienced Management: 150+ years of mining experience, track
record for discovery. Management is previously responsible for
discovery of the nearby Tocantinzinho deposit (2.5Moz), now owned
by Eldorado Gold
• Projects: two organic, grass roots gold discoveries so far - and
building…
• Cuiu Cuiu – 1.3Moz gold resource (100,000oz indic +
1.2Moz inf), drilling with 3 rigs
• Coringa – 370,000 oz gold resource (270,000oz indic +
100,000oz inf), drilling with 3 rigs
• Key Stakeholders: Newmont Mining owns 2.5%; Kinross owns 1%
• Strong Cash Position: $15M in treasury – Q3, 2011
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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., - Chief Geologist - 26 years experience in the
mineral exploration industry including experience in Argentina, Peru and Brazil
• Gordon Allen, B.Sc., - Head, Regional Exploration - 35 years experience in the
mineral exploration industry, predominantly in Latin America. Exploration experience
Far West Mining Ltd., and the discovery of the Santo Domingo IOCG deposit in
northern Chile.
• 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
4 in Latin America

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.
Eldorado also spent $5M on a 27% stake in Serabi Mining in
2010
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6. Key land position in competitive belt
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7. Eldorado developments at Tocantinzinho
• Tocantinzinho (2.5Moz)
produced an est. 200,000oz of Cuiu Cuiu
2Moz from streams
placer gold from artisanal +1.3Moz resource
to date
surface workings. Cuiu Cuiu
produced 1.5 – 2Moz of placer
gold **
• 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)
• EIA expected to be submitted
during Q3 2011.
• FS study on Toca currently in
progress and expected to be
completed during Q2 2012
* 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
• Step out drilling with 3 rigs in progress on
Central and MG deposits,13,347m (43
holes) so far completed during 2011
• Recent drilling on extensions to Central;
0.5m @ 58.7g/t gold 100m north of Central
and 7.8m @ 8.44g/t gold 300m east of
Central and 42.6m @ 1.73g/t gold at depth
at Central
Aerial view of village of Cuiu Cuiu
• At MG hole 110 drilled 40m E of hole 79, cut
24m @ 4.06g/t gold and hole 122 drilled
400m E of hole 79 cut 18m @ 0.46 g/t gold
8

9. Cuiú Cuiú – a district rather than a project
Placer workings and soil anomalies
Placer gold
workings
Au in soils (ppb)
Placer gold
workings
Moreira Gomes deposit 0.7Moz
Central deposit 0.6Moz
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10. Cuiú Cuiú….1.3Moz and counting
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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
12 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.

13. Central – significant step out drill results
Target
Target
0.5m @ 58.7g/t
42.6m @ 1.73g/t
7.8m @ 8.44g/t
Target
13

14. Moreira Gomes – recent developments
• Bulk tonnage open pittable
deposit
• Inferred resources to date at
MG total 14Mt @ 1.5 g/t gold
(0.7Moz)
• MG deposit extended
additional 300m along strike to
1.8km
• Recent drill results include 24m Aerial view of Moreira Gomes deposit looking north
@ 4.06g/t gold from 40m E of
hole 79, and 18m @ 0.46 g/t Moreira
Total Resources
gold from hole 122 drilled Gomes
400m E of hole 79 Tonnes Au Contained Au
• Narrow high grade zone (0.5m Tonne x 1000 gpt oz
@ 30.2g/t gold) identified at Inf.
14,000 1.5 700,000
Guarim 500m to south of MG 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
14 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.

15. Cuiú Cuiú – Moreira Gomes/Guarim
Map shows airborne
magnetic data, grade
contours,
and drill hole
locations
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16. Cuiú Cuiú – Moreira Gomes/Guarim
24m @ 4.06g/t
Target
18.4m @ 0.46g/t
0.5m @ 30.2g/t
Target
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17. Bom Jardim
• Located 25km NW of Cuiu Cuiu along main
Tocantinzinho trend, 15,385 ha
• Historic placer gold production of 0.5 –
1Moz. No previous drilling. 500 soil samples
and 200 rock samples collected by Magellan
• Major structural intersection. Gold-in-soil
anomaly 7km in length
• Air mag survey completed and ground
geophysics planned in advance of drilling
late 2011 / early 2012
Placer gold
workings at Bom
Jardim
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18. Coringa – a reminder
• Good infrastructure; 20km east of main
road and mains power
• Existing high grade resource of
270,000 oz Ind. (1Mt @ 8.5g/t) +
100,000 oz Inf. (0.3Mt @ 9.3g/t)
• Last resource estimate was completed
in September 2009 and requires
updating.
• Scoping study of April 2010 gave a
project IRR of 34% + NPV @ 5% of
$41.3M @ $950 per oz
• Scoping study based on 400t/d u/g
mine prod. 36,000oz / yr. Capex of
US$26.4M + Op cost of US$418/oz
• NPV of US$82.5M and IRR is 59% @
US$1200 per oz
18

19. Coringa – growing
• Currently drilling with 3 rigs on deep
extensions to Serra and Meio and at
Valdette
Valdette
• New major structures identified:
Valdette and Demetrio adding +5km of
total strike length to structures.
• Trench sampling in new zones returned
values that include 8.5m @ 5.5 g/t, 6m
@ 4.6 g/t and 4m @ 4.5 g/t.
• Widely spaced drilling (9 holes to date)
returned values of 37m @ 0.79g/t and
Demetrio
28m @ 0.64 g/t at Valdette and 5.5m
@ 6.49g/t gold at Demetrio
• Soil sampling in progress aimed at
370,000oz resource
identifying additional targets confined to;
Galena
Serra
Meio
0 1km
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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 – Valdette
• New mineralized
structure identified and
traced over 750m
• Trench results include;
6m @ 4.63 g/t gold, 8m
@ 5.5 g/t gold and 1m
@ 12g/t gold
• 5 drill holes completed
to date. Results include Galena
37m @ 0.79g/t and
28m @ 0.64 g/t gold
suggesting presence of
wider low grade
structure.
• Gold-in-soil anomaly is
3.8km in length. Gold-in soil anomaly, trench results and drill results
Structure is open. at Valdette zone
Drilling is ongoing
22

23. Coringa – Upside
• Recent soil sampling has identified
additional new and untested gold in
soil anomalies
• 10,000m step-out drill program began
March 2011 & is aimed at expanding
resources, 5192m completed to date
• Updated resource estimate planned
for Q1 2012.
• Feasibility study planned to
commence mid-late 2012
Demetrio
Drilling in
progress
Grab sample from surface 2.5km SE of Come Quieto
23

24. Mato Velho
• Located 15km N of Coringa – excellent road
access
• Previous drilling (13 holes) by Chapleau /
Magellan in 2007 cut 8m @ 8.32g/t gold and 1m
@ 18g/t gold
• NW trending vein structures. Lagresia structure
(5 holes) extends 1km and is open
• Large gold-in-soil anomaly (750m across)
identified SE of Lagresia structure
• Follow up drilling planned late 2011 / early 2012
Lagresia pit at
Mato Velho
24

25. Mato Velho
Drill targets
25

26. 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
• 4000m drilling program in progress –
Initial drill results expected September
2011
26 Oregon pit, Pocone; approx 1km in diameter

27. Corporate Information
Capital Structure
Shares outstanding 109.4M
Options 7.7M
Major shareholders Analyst Coverage
Warrants 8.8M
Management 11% National Bank Financial
Fully Diluted 127.4M Institutions 45% Shane Nagle
Cash $15M Newmont 2.5% Mackie Research
Market Cap. $65M Kinross 1% Dale Mah
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
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28. Valuation Considerations
Current Market Cap. $65M
Cash $15M
Value on per oz basis* (1.7Moz) no cash $38/oz
Value on per oz basis* (1.7Moz) with cash $29/oz
Coringa NPV @ US$1200/oz $82M
Step-out drilling program in progress (6 rigs).....25,000m planned at Cuiu
and 10,000m planned at Coringa for 2011.
Recce drilling in progress or planned on other projects for late 2011 / early
2012, i.e. Mato Grosso, Mato Velho, Agua Azul, Bom Jardim
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29. Further Information
Alan Carter Jennifer Duthie
President & CEO Corporate Communications
Suite 1650 – 409 Granville St., Suite 1650 – 409 Granville St.,
Vancouver, BC, V6C 1T2 Vancouver, BC, V6C 1T2
Tel. + 1 604 676 5663 Tel. + 1 778 838 3990
Fax + 1 604 676 5664 Fax + 1 604 676 5664
alan@magellanminerals.com jennifer@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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