Nautilus Minerals Inc.
TSX VENTURE : NUS

Nautilus Minerals Inc.

January 18, 2007 15:43 ET

Major Work Program Committed by Nautilus

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) - Nautilus Minerals Inc. (TSX VENTURE:NUS) (the "Company" or "Nautilus") is pleased to announce that it has contracted Canyon Offshore (http://www.helixesg.com/canyon/index.html), a member of the Helix Group and a leading service provider to the offshore oil and gas and telecommunications industries, to provide the vessel, remote operated vehicle ("ROV"), and drilling equipment for a major exploration, evaluation drilling and environmental base line study program, commencing in March 2007, over its Solwara Projects in Papua New Guinea.

The program, which will involve between 160 and 210 days on the water, will commence with environmental baseline studies at the Company's Solwara 1 Prospect then move to geophysical target generation throughout the Bismarck and Solomon Seas (Fig 1.: http://www.nautilusminerals.com/i/pdf/Loc_PNG.pdf) where the Company will target further mineralised systems.

Following this work, drilling is planned to commence on the Solwara 1 prospect in early June 2007 to generate information for mine planning purposes. This drilling will utilise two ROV drill units currently being built by Perry Slingsby Systems Inc. (one of the world's leading providers of ROVs, http://www.perryslingsbysystems.com/) under contract to Canyon Offshore.

David Heydon, President of the Company, commented: "We are very excited about the extensive work program that we have planned for this year which will significantly advance Nautilus towards our goal of being the first company to produce copper, zinc and gold from seafloor massive sulphide deposits. This work program is aimed at completing the drilling and environmental studies required, subject to Papua New Guinea Government approval, to develop the Solwara 1 Prospect. We will also focus on the discovery of further mineralised systems within our extensive ground holdings in both the Bismarck and Solomon Seas."

The Company has granted a total of 50,000 options to one employee at a strike price of $4.99. These options have a term of three years, vesting as to 20% every six months for a period of 30 months starting six months after the date of grant.

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for high grade gold-copper-zinc-silver seafloor massive sulphide deposits and is positioned to become a world leader in underwater mineral exploration. The Company's main focus for 2007 is the Solwara 1 Project, located in the territorial waters of Papua New Guinea in the western Pacific Ocean.

Legal Note on Forward-Looking Statements

Any statements made in this press release which are not statements of historical facts may constitute "forward-looking statements", including those concerning the Company's goals, assumptions or expectations. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ including, but not limited to, uncertainties concerning the ability of the Company to implement its work programs, a possible decline in commodity prices, the potential for adverse weather conditions that may hamper the Company's operations, and the lack of any assurance that the Company will receive the necessary governmental approvals to proceed with the development of Solwara Project. These risks are generally outlined in the Company's disclosure filings with the British Columbia Securities Commission. For more information on the Company, investors should review the Company's public filings, available at www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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