Magellan Minerals Joins OTCQX International Marketplace

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/17/12 -- Magellan Minerals Ltd. (TSX VENTURE: MNM)(OTCQX: MAGNF) ('Magellan' or the 'Company') is pleased to announce that the Company's shares will commence trading on January 17, 2012, on the OTCQX International Marketplace ('OTCQX'), the top tier in the U.S. OTC markets, under the symbol 'MAGNF'.

Magellan has retained Stifel, Nicolaus & Company, Incorporated to serve as the Company's Principal American Liaison ('PAL') and provide continued guidance on OTCQX requirements.

Alan Carter, President and CEO, stated, 'We are pleased to announce our trading on the OTCQX International Marketplace. The OTCQX will enhance liquidity by providing U.S. investors the ease of access to our stock through their U.S. regulated broker-dealers.'

Investors can find current financial disclosure, real-time Level 2 quotes for Magellan's shares and further information at www.otcqx.com and www.otcmarkets.com.

The Company's shares will remain listed and continue to trade on the TSX Venture Exchange under the symbol 'MNM'.

About the OTC Markets Group

OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest electronic marketplace for broker-dealers to trade securities not listed on a U.S. Stock Exchange. OTC's LinkTM platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. OTC Markets Group categorizes the wide spectrum of OTC-traded companies into three tiers - OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB® (the venture marketplace), and OTC Pink™ (the open marketplace) - so investors can identify the level and quality of information companies provide.

Magellan Minerals' Information to be available through S&P Capital IQ's Market Access Program

Magellan Minerals also announced today that its company information will be made available via S&P Capital IQ's Market Access Program, an information distribution service that enables subscribing publicly traded companies to have their company information disseminated to users of S&P Capital IQ's MarketScope Advisor. The company information to be made available through this program includes share price, volume, dividends, shares outstanding, company financial position, and earnings. MarketScope Advisor is an Internet-based research engine used by more than 100,000 investment advisors. A public version of the site is available at http://advisor.marketscope.com.

In addition, information about companies in S&P Capital IQ's Market Access Program will be available via the firm's Stock Guide database, which is distributed electronically to virtually all major quote vendors. As part of the program, a full description of Magellan Minerals will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in up to 38 states under their Blue Sky Laws.

Magellan Minerals Ltd. (TSX VENTURE: MNM)(OTCQX: MAGNF) is a TSX Venture Exchange and OTCQX listed exploration company with a number of gold exploration properties in the Tapajos region of northern Brazil and is focused on the Cuiu Cuiu and Coringa projects where drilling is currently in progress.

This news release may contain forward-looking statements including but not limited to comments regarding the timing of the commencement of trading on OTCQX. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

News Release #2012-2

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Magellan Minerals Ltd.

Alan Carter

President and CEO

604.676.5663
info@magellanminerals.com


Magellan Minerals Ltd.

Jennifer Duthie

Corporate Communications Manager

778.370.0519
Jennifer@magellanminerals.com
www.magellanminerals.com


OTCQX International Markets

Grace Keith

Public Relations

212.896.4428
grace@otcmarkets.com


S&P Capital IQ

Richard Albanese

Customers

212-438-3647
richard_albanese@standardandpoors.com


Media Relations

Michael Privitera

212-438-6679
michael_Privitera@standardandpoors.com