Magellan Copper & Gold enters JV on Atlantic Cable Gold Mine; to spend $400K for 45% stake

MAGELLAN COPPER & GOLD Corp

Joint venture with Gold Express Mines on historic Atlantic Cable Gold Mine in Montana, discovered 1866 and closed by War Powers Act 1942.
Magellan to spend min $400,000 in development over 24 months to earn 45% participatory interest.
Historic resource block estimated at 207,000 tons grading 1.5-4% copper and 0.11-0.14 oz gold/ton; requires confirmation.
Property comprises 480 acres patented ground plus 500 acres of unpatented mining claims.
Permitting underway: trenching permit in place, next step re-open main tunnel for underground access.

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