VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2011) -Magellan Minerals Ltd. (TSX VENTURE:MNM) ("Magellan") Magellan has granted stock options to directors, officers, employees and consultants of the Company. The options entitle the holders to purchase 2,810,000 common shares in the capital stock of the Company at a price of $0.70 per share. The options are exercisable until November 14, 2016 subject to vesting over 18 months. A total of 1,400,000 stock options were granted to officers and directors of the Company. The Company provides management incentive stock options to directors, officers, employees and consultants as part of the Company's overall compensation package. The Board acknowledges and appreciates their individual and collective commitment to the Company.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. 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 #2011-28

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