WEST PERTH, WESTERN AUSTRALIA--(Marketwire - April 27, 2010) - Magma Metals Limited (TSX:MMW - News; ASX:MMW - News; "Magma" or "Company") today released its activities and cash flow report for the quarter ended March 31st, 2010. Highlights included:

Thunder Bay North Platinum Project, Ontario

--  50,000m infill diamond drilling program nearing completion.  

--  Results reported during the quarter confirmed and enlarged high-grade
    zones in the Bridge Zone and included one of the best drill intercepts
    recorded at the project: 

BL10-197: 44.65m @ 5.50g/t Pt, 4.75g/t Pd, (10.25g/t Pt+Pd),
                   1.20% Cu & 0.49% Ni from 145.35m,

including 14.00m @ 16.23g/t Pt, 13.92g/t Pd, (30.15g/t Pt+Pd),
                   3.52% Cu & 1.24% Ni from 176.00m,

including 2.60m @ 52.77g/t Pt, 41.54g/t Pd, (94.31g/t Pt+Pd), 
                   3.87g/t Au, 61.0g/t Ag, 11.60% Cu & 3.29% Ni.

--  Resource estimate update to be undertaken based on 100,000m of diamond
    drilling - expected completion in September quarter, 2010. 

--  Scoping Study in progress - expected completion early in December
    quarter, 2010. 

West Australian Projects

--  Griffins Find Gold Project: 4,200m reconnaissance RC drilling program in
    progress to test targets within an extensive 4km x 2km area of gold
    anomalism around historic open pit gold mines. 

--  East Kimberley Projects: Potential for iron ore recognized along
    extensive regional strike trend. 

The full report is available on the Company's website at

http://www.magmametals.com.au/ and is filed under the Company's profile on SEDAR at http://www.sedar.com/.