Magellan Gold’s Peruvian Venture Acquires Concessions from Major Mining Companies

Reno, Nevada – Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or “the Company”) today announced that its Peruvian exploration venture with Rio Silver Inc. (TSX.V: RYO) has agreed to acquire three concessions from a Peruvian company owned jointly 60:40 by Newmont Mining Corporation and Southern Peru Copper Corporation. The concessions total 2,200 hectares and lie immediately west of and adjacent to Magellan’s Niñobamba Silver-Gold Project, which is located 330 kilometers southeast of Lima in the Department of Ayacucho, Peru.

Magellan Gold Signs Letter of Intent on Silver-Gold Exploration Property in Peru

Reno, Nevada – Magellan Gold Corporation (OTCQB: MAGE) (“Magellan” or “the Company”) today announced it had signed a non-binding Letter of Intent (“LOI”) with Rio Silver Inc. (“Rio Silver”) (TSX.V: RYO) pursuant to which Magellan is granted the option to earn an undivided 50% interest in the Niñobamba Silver-Gold Property (“Niñobamba”), located 330 kilometers southeast of Lima in the Department of Ayacucho, Peru. The parties intend to replace the LOI with a definitive agreement containing industry standard terms following a 45-day due diligence period. 

Magellan Gold Corporation Appoints Senior Mining Executive as President and CEO

Reno, Nevada – Magellan Gold Corporation (OTCBB: MAGE) (“Magellan” or “the Company”) is pleased to announce the appointment of W. Pierce Carson, PhD, as President and Chief Executive Officer and a member of the Board of Directors. Previously Dr. Carson was President of Gulf & Western Industries, Inc., the Company’s 85% owned minerals subsidiary. Dr. Carson is an unusually well qualified mining executive who has managed the discovery, financing, development and operation of mining properties internationally and domestically in an accomplished career spanning over forty years.