Spells and Magics will be added later in Conan Exiles but unlikely to be added during early access.
The game has added explosive glass Orbs which are grenade like objects that can produce a variety of effects. These are the first steps towards the game's sorcery system. You will be able to create 1 of 4 types of orbs: grease, fire, gas or water. You will have to capture an alchemist thrall, break them and put them to work in a Fireball Cauldron to give you the recipes for them. Water puts out fire, fire orbs explode on impact and leave a burning fire, grease orbs will cause slippery surfaces and can be ignited and gas orbs can be created with new puffer mushrooms to create poison.