ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On January 10, 2020, Magellan Gold Corporation, a Nevada corporation (the "Company"), entered into a binding Letter of Intent with NV Gold Corporation to sell its Silver District Project in Arizona. A copy of the Letter of Intent in filed herewith as Exhibit 10.1.

ITEM 7.01 REGULATION FD DISCLOSURE

On January 13, 2020, the Company issued a press release announcing that it has entered into a binding Letter of Intent to sell 100% of its Silver District project in La Paz County, Arizona, to NV Gold Corporation (TSXV: NVX, US: NVGLF) for cash, NVX shares, and a minimum work commitment over a five-year period. A copy of the press release is filed herewith as Exhibit 99.1

The information in this Current Report on Form 8-K furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to liability under that section, and they shall not be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. By filing this Current Report on Form 8-K and furnishing this information pursuant to Item 7.01, the Company makes no admission as to the materiality of any information in this Current Report on Form 8-K, including Exhibit 99.1, that is required to be disclosed solely by Regulation FD.

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