Nautilus Minerals Inc.
AIM : NUS
TSX : NUS

Nautilus Minerals Inc.

November 26, 2007 19:28 ET

Nautilus Minerals Inc.: Report of Extraordinary General Meeting Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) ("Nautilus" or the "Company") announces the results of its Extraordinary General Meeting held today.

EGM results

The private placement to Epion Holdings Limited ("Epion") of 10,859,690 units (the "Units") at a price of C$3.60 per Unit (GBP1.78) for aggregate gross proceeds of C$39,094,884 (GBP19,372,170) (the "Placement") received disinterested shareholder approval at the meeting. The particulars of the Placement are set forth in the Company's Information Circular dated October 19, 2007.

David Heydon, Nautilus' CEO, commented: "With the recent exploration success at Solwara 1, we are keen to get back out on the water and develop a pipeline of projects. Ongoing exploration is the key to increasing shareholder value. This Placement allows us to maintain momentum and exploration at current levels for 2008 and 2009. The funds will also provide capital for potential development of new equipment following the success of the innovative electromagnetic tools and the robotic ROV drills used in 1,700 metre water depth at Solwara 1."

Shares held by Epion were not entitled to vote on the matter. Of the shares eligible to vote, 65,006,063 were represented at the meeting either in person or by proxy. 64,807,222 shares (99.69%) voted in favour of the Placement while 198,841 shares (0.31%) voted against the Placement. The Placement remains subject to acceptance of the Toronto Stock Exchange, but is expected to close by November 30, 2007. Following the completion of the Placement the Company's share capital will be:



Common and outstanding shares 142,815,640
Warrants 18,979,725
Options 9,235,656
Fully diluted 171,031,021


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 largest international resource companies, including Epion (22.9%), Anglo American (5.8%) and Teck Cominco (5.3%).

Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.

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
    Email: ceo@nautilusminerals.com
    or
    Numis Securities Limited (NOMAD)
    John Harrison
    + 44(0) 20 7260 1000
    or
    Numis Securities Limited (NOMAD)
    James Black
    + 44(0) 20 7260 1000
    or
    Conduit PR Ltd (UK Financial PR)
    Arabella Hobbs/Charlie Geller
    + 44(0) 20 7429 6610/+44(0) 20 7429 6604