Nautilus Minerals Inc.

Nautilus Minerals Inc.

November 08, 2007 10:09 ET

Nautilus Minerals Inc.: Escrow Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") announces that, as a result of the Company moving to TSX, a total of 10,473,140 common shares will be released from escrow on November 9, 2007. The escrow of certain of the Company's common shares was a requirement of the TSX Venture Exchange in relation to the reverse takeover and listing of the Company's common shares on that Exchange in May 2006. Following the release of the shares from escrow, the remaining balance of 948,733 shares will remain in escrow until March 16, 2008, at which time those shares will be also released from escrow.

Notwithstanding the release of the 10,473,140 common shares from escrow, 6,602,548 of those shares will remain subject to the lock-in arrangements entered into at the time of the Company's admission to AIM, prohibiting their trading until February 2, 2008. A further 21,849,109 common shares also remain subject to the lock-in arrangements that were entered into at the time of the AIM listing. The AIM lock-in arrangements will terminate on February 2, 2008.

Exercise of Options and Warrants

As a result of the exercise of certain options and warrants raising US$4.6 million (Pounds Sterling 2.2 million(i)), the Company has made application for 1,601,666 common shares to be admitted to AIM and TSX. The shares are expected to be admitted to trading on November 9, 2007.

(i) Exchange rate used in this announcement US$1.00 equals GBP 0.4787

Change of Registered Office

The Company announces that with immediate effect, its registered office has been changed to 10th Floor, 595 Howe Street, Vancouver, BC, V6C 2T5, Canada.

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 a world leader in underwater mineral exploration. The Company's main focus for 2007 is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean.

Contact Information

  • Nautilus Minerals Inc. (Toronto)
    Investor Relations
    (416) 551-1100
    Nautilus Minerals Inc.
    President & CEO
    +61 (7) 3318 5555
    Numis Securities Limited (NOMAD)
    John Harrison/James Black
    + 44(0) 20 7260 1000
    Conduit PR Ltd (UK Financial PR)
    Arabella Hobbs/ Ed Portman
    + 44(0) 7429 6610 / +44 (0) 7833 926 694