04:12 PM EST - Magellan Minerals Ltd. : announced that it has signed a binding Letter of Intent to acquire a 51% interest in the Creporizinho gold project, northern Brazil. Magellan has also agreed to sell to the vendors of the Creporizinho property a 49% interest in its nearby Uniao project. The terms of the agreement involve Magellan paying the owners of the property a total of approximately US$9 million. Magellan Minerals Ltd.
shares V.MNM are trading up 9 cents at $1.01.
