UNITED STATES SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C. 20549



FORM 10-K/A-1



☒ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2019



☐TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from ____________
to ____________



Commission file number 000-54658



MAGELLAN
GOLD CORPORATION

(Name of Registrant
in its Charter)



|Nevada
(State or other jurisdiction
of incorporation or organization) | 27-3566922
I.R.S. Employer
Identification Number
|--------------------------------------------------------------------- | ------------------------------------------------



2010A Harbison Dr., #312 Vacaville, CA
95687
(Address of principal executive offices)         (Zip Code)



Registrant's telephone number, including area code:   (707)
291-6198



Securities registered under Section 12(b) of the Exchange Act:
None



Securities registered under Section 12(g) of the Exchange Act:
None



Indicate by check mark if the registrant
is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐
  No ☒



Indicate by check mark if the registrant
is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐
  No ☒



Indicate by check mark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.  Yes ☒
No ☐



Indicate by check mark whether the registrant
has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§
232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit
such files). Yes ☒ No ☐



Indicate by check mark if disclosure of
delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not
be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference
in Part III of this Form 10-K or any amendment to this Form 10-K.   ☒



Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of
“large accelerated filer”, “accelerated filer” and” smaller reporting company” in Rule 12b-2
of the Exchange Act (check one):



|Large accelerated filer ☐ | Accelerated filer ☐        
|------------------------- | ---------------------------
|Non-accelerated filer ☒   | Smaller Reporting Company ☒
|                          | Emerging growth company ☒  



If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐



Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Exchange Act). Yes  ☐
No  ☒



The aggregate market value of the 1,654,671
shares of voting and non-voting common equity held by non-affiliates of the Company calculated by taking the last sales price of
the Company's common stock of $1.90 on June 28, 2019 was $3,143,873.



The number of shares outstanding of the registrant’s common
stock, as of May 27, 2020 is 3,651,042.



List hereunder the following documents
if incorporated by reference and the Part of the Form 10-K ( e.g., Part I, Part II, etc.) into which the document is incorporated:
(1) Any annual report to security holders; (2) Any proxy or information statement; and (3) Any prospectus filed pursuant to Rule
424(b) or (c) under the Securities Act of 1933. The listed documents should be clearly described for identification purposes:



None.













Explanatory Note:



The Registrant is filing this Amendment
No. 1 (this “Amendment”) to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2019,
originally filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 27, 2020 (the “Original
Filing”) solely to disclose that the Registrant delayed the filing of its Original Filing in reliance on the SEC’s
March 25, 2020 Order (Release No. 34-88465) (the “Order”). The Order allows for the delay of certain filings required
under the Securities and Exchange Act of 1934, as amended. The Registrant required additional time to review and prepare certain
information to be included in its financial statements due to delays resulting from the COVID-19 pandemic related challenges.



SIGNATURES



Pursuant to the requirements of Section
13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this annual report to be signed on its behalf
by the undersigned, thereunto duly authorized.



|                    | MAGELLAN GOLD CORPORATION                                                        
|------------------- | ---------------------------------------------------------------------------------
|                    |                                                                                  
|                    |                                                                                  
|Date:  June 1, 2020 | By: /s/ David E. Drips
        President, Principal Executive Officer, & Director



Pursuant to the requirements of the Securities Exchange
Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on
the dates indicated.

|SIGNATURE          |  | TITLE                                   |  | DATE         | 
|------------------ |  | --------------------------------------- |  | ------------ | 
|                   |  |                                         |  |              | 
|/s/ John C. Power  |  | Principal Accounting Officer & Director |  | June 1, 2020 | 
|John C. Power      |  |                                         |  |              | 
|                   |  |                                         |  |              | 
|/s/ David E. Drips |  | Principal Executive Officer & Director  |  | June 1, 2020 | 
|David E. Drips     |  |                                         |  |              | 
|                   |  |                                         |  |              |