Nautilus Minerals Inc.

Nautilus Minerals Inc.

December 22, 2006 13:01 ET

Nautilus Applies for Additional Mineral Rights

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 22, 2006) - Nautilus Minerals Inc. (TSX VENTURE:NUS) (the "Company" or "Nautilus") is pleased to announce that following a program of geological targeting it has lodged 25 Exploration Licence applications covering prospective areas of the Solomon Sea in Papua New Guinea. ( These new applications, which are in addition to the 47 applications announced on November 20, cover an area of 63,950 km2 and brings to 186,343km2 the total area held by Nautilus under exploration licence or licence application in PNG.

David Heydon comments that, "By taking this additional strategic step, Nautilus is further cementing its first mover advantage as the leader in the emerging seafloor mining space. We now hold under exploration license or exploration application dominant positions in two prospective regions.

We have an aggressive exploration program planned for the coming year and expect that we will significantly build our prospect inventory through this work."

Nautilus has raised US$121.6 Million in the last 7 months and with technical collaboration agreements with Teck Cominco and Anglo American has the financial and technical resources to aggressively explore this significant holding.

The Company has further granted a total of 20,000 options to one employee at a strike price of $5.80. 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 gold - copper and zinc 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 Project, which is located in the territorial waters and EEZ of Papua New Guinea in the western Pacific Ocean and comprises 186,343Km2 exploration licenses and applications.

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

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