Nautilus Minerals Inc.
AIM : NUS
TSX : NUS

Nautilus Minerals Inc.

January 03, 2008 08:51 ET

Nautilus Closes 2007 With Three Major Press Releases and US$312 Million in Cash

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 3, 2008) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") advises that it closed the year with US$312 (C$312, Pounds Sterling 158)(i) million cash in the bank, which with 145 million shares on issue, equates to cash backing of US$2.15 (C$2.15, Pounds Sterling 1.09)(i) per share.

Also for investor disclosure during the holiday season, the Company reiterates the three key press releases from the week of December 17, 2007, being the announcements of the:

- Seafloor Mining Tool (SMT) Contract

- Resource Statement

- Teck Cominco Warrant Exercise

Seafloor Mining Tool (SMT) Contract

Soil Machine Dynamics Ltd ("SMD") of Newcastle upon Tyne, UK, was awarded a Pounds Sterling 33 million contract for the design and build of two deep sea mining machines. Refer to the announcement of December 18, 2007.
(www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=277920)

Resource Statement

The world's first NI 43-101 compliant resource estimate for a seafloor massive sulphide ("SMS") system was completed by Golder Associates Pty Ltd., ("Golder") for the Company's Solwara 1 deposit, located in the territorial waters of Papua New Guinea ("PNG"). Refer to the announcement of December 20, 2007.
(www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=278419)

Teck Cominco Warrant Exercise

Teck Cominco Limited ("Teck Cominco") has agreed to exercise, six months early, its share purchase warrants to acquire 3,000,000 additional common shares of the Company at a price of US$5.00 (C$5.00, Pounds Sterling 2.53)(i) per share for a total of US$15 (C$15, Pounds Sterling 7.6)(i) million, taking Teck Cominco's shareholding to approximately 7.2% of the issued shares of the Company. The exercise of these warrants brings to US$52 (C$52, Pounds Sterling 26)(i) million the funds committed by Teck Cominco.

The transaction increases Nautilus's cash in bank to US$312 (C$312, Pounds Sterling 158)(i) million as of December 31, 2007. With 145 million shares on issue, this equates to cash backing of US$2.15 (C$2.15, Pounds Sterling 1.09)(i) per share. Refer to the announcement of December 20, 2007.
(www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=278422)

A webcast of the December 20, 2007 investor conference call is available on the Company's website (regarding the Seafloor Mining Tool (SMT) Contract and the Resource Statement).
(phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=120113&eventID=1722370)
Note: To access the webcast, please copy and paste the above address into your browser's address bar.

(i)Exchange rates used herein: C$1.00 equal to US$1.00 and Pounds Sterling 0.507.

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and is positioned to become an emerging producer in 2010. The Company's main focus for 2008 is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and on AIM, and has among its largest shareholders three of the world's leading international resource companies, including Epion (22.4%), Teck Cominco (7.2%) and Anglo American (5.7%).

Contact Information

  • Nautilus Minerals Inc. (Toronto)
    Investor Relations
    (416) 551-1100
    Email: investor@nautilusminerals.com
    Website: www.nautilusminerals.com
    or
    Australian Project Office
    +61 (7) 3318 5555
    or
    Numis Securities Limited (NOMAD)
    John Harrison/James Black
    + 44(0) 20 7260 1000
    or
    Conduit PR Ltd (UK Financial PR)
    Charlie Geller/Arabella Hobbs
    + 44(0) 20 7429 6610 / +44(0) 7979 067 320