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EX-99.1 - MAGELLAN GOLD Corppromnotegibbs25k022812.htm



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549



FORM 8-K /A-1


CURRENT REPORT


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Date of Report (Date of earliest event reported):     February 28, 2012



MAGELLAN GOLD CORPORATION
(Exact Name of Registrant as Specified in its Charter)



       Nevada       

       _333-174287         

    27-3566922    

(State or other jurisdiction
of incorporation)

Commission File
Number

(I.R.S. Employer Identification number)



P.O. Box 114, 60 Sea Walk Drive       

     The Sea Ranch, CA  95497
(Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code:   (707) 884-3766

______________________________________________________

(Former name or former address, if changed since last report)




___

Written communications pursuant to Rule 425 under the Securities Act

___

Soliciting material pursuant to Rule 14a-12 under the Exchange Act

___

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

___

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act













ITEM 2.03

CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBGLIATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT


        Effective February 28, 2012, John D. Gibbs, a principal shareholder, made an unsecured advance to the Company in the amount of $25,000 (the “Advance”).  The Advance is evidenced by a Promissory Note due on demand and is unsecured.



ITEM 9.01:      FINANCIAL STATEMENTS AND EXHIBITS


 

(c)

Exhibit

 

 

 

 

 

Item

Title

 

99.1

Promissory Note dated February 28, 2012.






SIGNATURES


       Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



 

Magellan Gold Corporation

 

 

Date:  March 29, 2012

By:  __/s/ John C. Power____

John C. Power, President

 

 





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