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. A breakdown of the 43-101 compliant resource estimate numbers is below for a total of 1.7Moz. The total resource estimates from each of the properties thus far are as follows: Cuiu Cuiu: 1.2Moz Inferred (31Mt @ 1.2g/t) + 0.1Moz Indicated (3.4MT @ 1.0g/t) Coringa: 0.3Moz Indicated (1Mt @ 8.5g/t) + 0.1Moz Inferred (0.3Mt @ 9.3g/t)

1. Building Gold Resources in Brazil’s Tapajos Region TSX-V: MNM | www.magellanminerals.com June 2011

6. Key land position in competitive belt

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

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

12. Central SE-NW section through Central Typical mineralized interval Central zone – hole CC-55-10, 2.15g/t Au * 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. 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. Central Total Resources Tonnage Au g/t Contained Au Tonne x 1000 gpt oz. Indicated Resources 3,400 1.0 100,000 Inferred Resources 17,000 0.9 500,000

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

15. Cuiú Cuiú – Moreira Gomes Drill targets Map shows airborne magnetic data, grade contours, and drill hole locations * 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. 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. Moreira Gomes Total Resources Tonnage Au g/t Contained Au Tonne x 1000 gpt oz. Inferred Resource 14,000 1.5 700,000

20. Meio Block – consistently high grades Drill plan

26. Corporate Information 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 Capital Structure Shares outstanding 109.4M Options 7.7M Warrants 8.8M Fully Diluted 127.4M Cash $20.5M Market Cap. $155M Major shareholders Management 11% Institutions 45% Newmont 2.5% Kinross 1% Analyst Coverage National Bank Financial Shane Nagle Mackie Research Dale Mah

27. Further Information Alan Carter President & CEO Suite 1650 – 409 Granville St., Vancouver, BC, V6C 1T2 Tel. + 1 604 676 5663 Fax + 1 604 676 5664 [email_address] Auditors PricewaterhouseCoopers 700-250 Howe Street Vancouver, BC Canada V6C 3S7 Lawyers Morton & Company 1200-750 West Pender Street Vancouver, BC Canada V6C 2T8 Jennifer Duthie Corporate Communications Suite 1650 – 409 Granville St., Vancouver, BC, V6C 1T2 Tel. + 1 778 838 3990 Fax + 1 604 676 5664 [email_address]