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Magellan Minerals Down, Closer to Yr Lows As Provides Brazil Update

Magellan Minerals Ltd. (MNM.V) is down 3 cents at 55 cents and closer to a year low 52 cents as it announced that ECI Exploration and Mining Inc. has filed a National Instrument 43-101 technical report for the Pocone Gold Project, located in the Mato Grosso region of Brazil. ECI filed the technical report in connection with filing of ECI's preliminary prospectus for its initial public offering. The mineral rights underlying the Pocone Gold Project in the Mato Grosso region are owned by Magellan, ECI and Brasil Central Engenharia Ltda.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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