Magellan Minerals Ltd. (Magellan) is an exploration-stage company engaged in the business of exploring for and developing mineral properties, with a focus on gold and bauxite properties located in the States of Para and Amazonas in northern Brazil. Magellan’s primary gold exploration project is the Cuiu Cuiu property, located 180 kilometers south of the town of Itaituba. Its primary mineral properties comprise Uniao, Porquinho, Maranhense and Nhamunda. Other projects include Chico Torres, Manuel Flogoyo, CVA, Torrao, Boca do Crepori, Joao, Sao Felix – Modelo, Bom Jardim and Carneirinho. Diamond drill programs have taken place at Cuiu Cuiu and Uniao. During the year ended December 31, 2008, the Company completed a 31-hole diamond drill program in the Cuiu Cuiu property. The Company controls mineral exploration licenses totaling approximately 47,000 hectares at Cuiu Cuiu. On September 1, 2009, Magellan completed the acquisition of Chapleau Resources Ltd.