Nautilus Minerals Inc.
TSX : NUS
OTCQX : NUSMF

Nautilus Minerals Inc.

May 12, 2014 07:25 ET

Nautilus Minerals Announces Financial Results for Q1 2014

TORONTO, ONTARIO--(Marketwired - May 12, 2014) - Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus") announces the release of its unaudited consolidated Financial Statements for the first quarter ended March 31, 2014, together with Management's Discussion and Analysis.

Q1 2014 Significant Events:

  • Confirmed the Clarion Clipperton Zone nodule deposit grade and extent with analysis of samples collected during 2013 exploration program supporting the grade of elements previously reported
  • US$34.5 million in cash and cash equivalents as at March 31, 2014

Post Q1 2014 Significant Events:

  • Resolved issues with the Independent State of Papua New Guinea (the State) and signed agreement
  • Confirmed CEO appointment
  • Advanced the Solwara 1 Project by completing the mechanical and hydraulic assembly of the Bulk Cutter

Mike Johnston, Nautilus' CEO, commented, "we are delighted that we have resolved the issues with the State in regards to their participation in the Solwara 1 Project and look forward to working as partners in this new deep sea mining industry."

He added, "the Company's immediate focus will now be on securing a suitable vessel arrangement as we continue our discussions with potential vessel partners, while also undertaking a tender process with shipyards experienced in building offshore construction vessels."

The Company remains committed to maximizing shareholder value by achieving its objective of developing the world's first commercial high grade seafloor copper-gold project and launching the deep water seafloor resource production industry.

The Financial Statements and Management's Discussion and Analysis will be filed on www.sedar.com and will be available on the Company's website www.nautilusminerals.com/s/Investors-Financials.asp.

For further details please refer to the below releases in the Links section.

Links

http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=652179

http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=649293

http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=647179

http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=643004

For more information please refer to www.nautilusminerals.com.

Neither the TSX nor the OTCQX accepts responsibility for the adequacy or accuracy of this press release.

Certain of the statements made in this news release may contain forward-looking information within the meaning of applicable securities laws, including statements with respect to securing a vessel arrangement, working with the State and commencing mining. We have made numerous assumptions about such statements. Even though our management believes the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that they will prove to be accurate. Forward-looking information by its nature involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information. Please refer to our most recently filed Annual Information Form in respect of material assumptions and risks related to the prospects of extracting minerals from the seafloor. With respect to the Agreement with the State, the Company is assuming that the parties will satisfy the conditions of the Agreement, including securing a vessel arrangement by the end of the year, and that completion of the purchase of the State's 15% interest in the Solwara 1 Project will occur. Risks related to the Agreement are that if the conditions are not met, it could impair the Company's relationship with the State and have a negative impact on the Company's ability to secure a vessel and develop the Solwara 1 Project. Except as required by law, we do not expect to update forward-looking statements and information as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.

About Nautilus Minerals Inc.

Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.

Nautilus also holds approximately 500,000 km2 of highly prospective exploration acreage in the western Pacific; in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.

A Canadian registered company, Nautilus is listed on the TSX:NUS stock exchange and OTCQX:NUSMF. Its corporate office is in Brisbane, Australia. Its major shareholders include MB Holding Company LLC, an Oman based group with interests in mining, oil & gas, which holds a 28.00% interest, Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 20.75% holding and global mining group Anglo American, which holds a 5.95% interest (each on a non-diluted basis, excluding loan shares outstanding under the Company's share loan plan).

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