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
November 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. Magellan at a Glance
• 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. Tocantinzinho deposit (2.5Moz), now owned by
Eldorado Gold. 3 grass roots gold discoveries totaling 4.2Moz in 7
years.
• Projects: Advanced projects with significant upside:
• Cuiu Cuiu – 1.3Moz gold resource (100,000oz indic. +
1.2Moz inf.), drilling with 3 rigs
• Coringa – 370,000oz 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: $12M in treasury
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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.
• 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
• 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. Responsible for discovery of the Santo
Domingo IOCG deposit of Far West Mining
• 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. Ex-Impala Platinum Ltd, Gencor and
Billiton
• 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
• Richard Zimmer, P. Eng., MBA., Director - former senior mine engineer
for Teck, general manager of Mount Edon Gold Mines, and project manager
of POGO project. Most recent role was President & CEO of Far West Mining Ltd.
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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) which is currently undergoing
feasibility
• Kinross, Eldorado and Newmont are active. Eldorado acquired
Tocantinzinho for $122M during mid 2010 and is completing a
feasibility study. 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. Cuiu Cuiu and 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 **
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 site in
progress
• 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 – Recent Developments
• 1.2 Moz (inferred) + 0.1 Moz
(Indicated) of gold identified to date at
Central and Moreira Gomes at avg.
grade of 1.2g/t
• Exploration drilling with 3 rigs in
progress at Central North, Babi and
Jerimum Cima; 19,258m (61 holes) so
far completed during 2011
• Recent drill results include:- Central
North; 39.6m @ 1.25g/t gold, Central
SE; 7.8m @ 8.44g/t gold &
27m @ 6.94g/t gold
Aerial view of village of Cuiu Cuiu
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9. 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
?
?
Moreira Gomes deposit 0.7Moz
Central deposit 0.6Moz
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10. Cuiú Cuiú
Pau de Merenda
30m @ 1.1g/t, 47m @ 1.8g/t
Central North Jerimum Cima
40m@ 1.3g/t 39m @ 5.1g/t
Babi
Central
Jerimum Baixo
Ivo
Central SE
27m @ 6.9g/t, 8m @ 8.4g/t
Miraboa West
Miraboa Moreira Gomes
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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 North – Significant New Discovery
Drilling in progress
Drilling in progress
Central 600,000oz
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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. Moreira Gomes Area
Jerimum Baixo
Ivo target
Moreira Gomes
Guarim target
Moreira Gomes area - aeromagenetic data, gold-in-soil
geochemistry and structural interpretation
15

16. Jerimum Baixo
• Third discovery at Cuiu Cuiu
• Open in several directions
• Drilling in progress
• Will add to resource base
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17. Cuiu Cuiu Catalysts
• 2011 drill program of 25,000m is currently 77% complete
• Third mineralized zone at Jerimum Baixo identified
• Strong indications of a fourth mineralized zone at Central North, Central SE and Babi.
Additional results pending
• Metallurgical work in progress
• Drilling at Pau de Merenda, Central SE, Miraboa, Miraboa West and Ivo planned for
early 2012
• Revised resource estimate planned for late Q2 / early Q3 2012
Jerimum Baixo discovery
outcrop – sheeted / stockwork
vein system
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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
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19. Coringa – Growing 370,000oz resource
confined to:
Galena
Serra
Meio
• Currently drilling with 3 rigs on deep
extensions to Serra and Meio and
on new zones
• New major structures identified:
Valdette, Demetrio and Domingo,
adding +5km of total strike length to
structures
• Widely spaced drilling (9 holes to
date) returned values of 37m @
0.79g/t and 28m @ 0.64 g/t at
Valdette and 5.5m @ 6.49g/t gold at
Demetrio
• Soil sampling in progress aimed at
identifying additional targets
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20. Meio Block – Consistently High Grades
Drill plan
20

21. Coringa – Expanding Serra at Depth
Map View
Longitudinal section
21

22. 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
22

23. Coringa – Upside
• Recent soil sampling has identified
Au in streams
additional new and untested gold in
soil anomalies
• 10,000m step-out drill program began
March 2011 & is aimed at expanding
resources, 10,170m completed to
date
• Updated resource estimate planned
for Q1 2012.
• Feasibility study planned to
commence mid-late 2012
New zones
Grab sample from surface 2.5km SE of Come Quieto
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24. 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. Stockwork-style mineralization
observed on surface
• Air mag survey completed. Drilling to commence
mid-November 2011.
Placer gold
workings at Bom
Jardim
24

25. 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. 30 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
• RC drilling program expected to start early
2012
25 Oregon pit, Pocone; approx 1km in diameter

26. 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
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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 $12M Newmont 2.5% Mackie Research
Market Cap. $92M 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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