Article: Magellan Reports Initial Resource Estimate at Coringa Project, Brazil.

VANCOUVER, BRITISH COLUMBIA, Oct 8, 2009 (Marketwire via COMTEX) -- Magellan Minerals Ltd. (TSX VENTURE:MNM) ("Magellan") is pleased to report the results of an initial National Instrument (NI) 43-101 compliant resource estimate on its Coringa project, Brazil which has been completed by independent consultants, Global Resource Engineering (GRE) Ltd. The work was originally commissioned by Chapleau Resources Ltd. prior to completion of the business combination with Magellan.

Highlights

- The resource estimate completed by GRE includes 269,500 measured and indicated troy ounces of gold representing 982,291 tonnes at an average grade of 8.53 g/t gold and ...

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