Nautilus Minerals Inc.

Nautilus Minerals Inc.

December 11, 2007 10:47 ET

Nautilus Appoints Non Executive Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2007) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") is pleased to announce the appointment to the Board of Mr. John O' Reilly as a non executive director effective immediately.

Mr. O'Reilly, who holds a BSc in Metallurgy and an MSc in Mineral Process Design, brings with him a wealth of expertise having over 40 years experience in the international mining industry. This includes 19 years with Rio Tinto Plc ("Rio Tinto"), including Head of Technology and Head of Gold and Other Minerals, based in London, and a secondment to the Lihir Management Company as Managing Director. John was the inaugural Chief Executive Officer of Lihir Gold Ltd. in Papua New Guinea, a plus 40 million ounces gold resource, where he was responsible for the design, engineering, construction and initial operation of the US$900 million Lihir mine, plant and associated infrastructure. John retired as a non-executive director of Lihir Gold Ltd. in end 2006.

In his last position as Head of Technology at Rio Tinto, John was responsible for the technical services, technical evaluation, project management, health safety and environmental issues and asset utilisation units. He sat on the Rio Tinto board committee for Social and Environment Accountability. His directorships include, Lion Selection Ltd., Cambrian Mining Plc, Ausenco Ltd. and OJSC Polymetal.

David Heydon, Nautilus' President and CEO, commented: "We are delighted that Nautilus has been able to secure a non executive director with John's experience. His extensive knowledge and background in the mining industry, specifically major project delivery in Papua New Guinea where we are focused on developing the Solwara 1 deposit as the world's first high grade seafloor copper-gold mine makes John an invaluable addition to the Nautilus Board of Directors. John's appointment rounds out our Board and management team as we move in to the development phase. ("

The Company is required to disclose under the AIM Rules for Companies the following information in relation to the appointment of John Francis O'Reilly (62) as a director of the Company:

Current directorships and Directorships and partnerships held
partnerships held by Mr. O'Reilly by Mr. O'Reilly in the last five years
Lion Selection Ltd. Lihir Gold Ltd.
Cambrian Mining Plc Lion Selection Group Ltd.
Ausenco Ltd. AuSelect Ltd.
OJSC Polymetal
Indophil Resources NL

There is no further information, in connection with his appointment, which is required to be disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies.

Options Granted

On December 4, 2007, the Company granted 100,000 options to John O'Reilly at an exercise price of C$4.43 and vest at 20% every six months from the issue and expiring on November 13, 2010. The options granted to John O'Reilly are received in lieu of payment for his services as a director for the Company.

In addition, 164,614 options were granted to David Heydon, in accordance with his Employment Contract at an exercise price of C$4.03 and vest at 25% immediately and every six months thereafter.

The details regarding the options granted are as follows:
Date of No. of Exercise Vesting Expiration
Name grant Options Price period Date
John O'Reilly December 4, 100,000 C$4.43 20% every 6 December 4,
2007 months from 2010
date of
David Heydon December 4, 164,614 C$4.03 25% on December 4,
2007 grant and 2010
25% every
6 months
Total granted 264,614

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%).

Contact Information

  • Nautilus Minerals Inc.
    Investor Relations
    (416) 551-1100
    Australian Project Office
    +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
    +44(0)7429 6610
    Conduit PR Ltd (UK Financial PR)
    Charlie Geller
    +44 (0) 20 7429 6604