Nautilus Minerals Inc.

Nautilus Minerals Inc.

March 28, 2014 08:40 ET

Nautilus Minerals Announces Release of Annual Results

TORONTO, ONTARIO--(Marketwired - March 28, 2014) - Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus") announces the release of its audited consolidated financial statements for the year ended December 31, 2013, together with Management's Discussion and Analysis and the Company's Annual Information Form.

2013 Significant Events

  • Favourable decision received in arbitration with the Independent State of Papua New Guinea (the "State")
  • C$40M Rights Offering completed
  • Solwara 1 Project advanced with the build of the Seafloor Production Tools now 90% complete
  • Clarion Clipperton Zone nodule exploration program completed with analysis of samples collected supporting the grade of elements previously reported
  • Changes to the Board of Directors
  • US$40.6 million in cash and cash equivalents as at December 31, 2013

Nautilus' CEO, Mike Johnston, said "While 2013 was a challenging year for Nautilus, we are excited by the progress that was made, in particular with the Seafloor Production Tools, which are currently 90% complete. Although the Company recently terminated the State Equity Option Agreement, Nautilus is continuing discussions with the State in order to reach an amicable resolution."

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, Management's Discussion and Analysis and Annual Information form have been filed on and are also available on the Company's website

For more information please refer to

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 reaching a resolution with the State and commencing production. 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 Annual Information Form in respect of material assumptions and risks related to the prospects of extracting minerals from the seafloor. With respect to the Company's aim to resolve the dispute with the State, it is assuming that the parties will be able to reach an amicable solution as a result of good faith negotiations. Risks related thereto include: that the State does not negotiate in good faith, that the State is unable to access sufficient capital to contribute funding to the Solwara Project, and that any resulting action for damages could impair the Company's relationship with the State and have a negative impact on the Company's ability to develop the Solwara Project. Except as required by law, we do not expect to update forward-looking 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.

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