The state of the art ab initio calculations of quantum mirages, the spin polarization of surface-state electrons, and the exchange interaction between magnetic adatoms in Cu and Co corrals on Cu(111) are presented. We find that the spin polarization of the surface-state electrons caused by magnetic adatoms can be projected to a remote location and can be strongly enhanced in corrals, compared to an open surface. Our studies give clear evidence that quantum corrals could permit one to tailor the exchange interaction between magnetic adatoms at large separations.