PERTH, WESTERN AUSTRALIA--(Marketwire - Nov. 29, 2011) - Magma Metals Limited (TSX:MMW)(ASX:MMW) ("Magma" or "Company") is pleased to advise that a Communications Protocol ("Protocol") has been signed with the three First Nation communities most closely associated with Magma's Thunder Bay North (TBN) project. The Protocol, negotiated between Magma and the First Nation Communities of Fort William First Nation, Red Rock Indian Band and Biinjitiwaabik Zaaging Anishinaabek establishes a process by which Magma and the communities will communicate and share information on the TBN project and ensures an equal opportunity for each of the First Nation communities to actively evaluate project information and participate in the advancement and development of the project.

Jennifer Abols, Project Development Manager for Magma expressed the Company's appreciation for the cooperation and support demonstrated by everyone involved in the signing. "We look forward to working with these First Nation communities and other stakeholders to ensure that this project continues to be advanced in a spirit of openness, mutual cooperation, respect and good faith," she added.