Nautilus Minerals Inc.
TSX : NUS
OTCQX : NUSMF

Nautilus Minerals Inc.

November 26, 2015 07:29 ET

Nautilus Minerals: Board Visits Shipyard and Vessel Update

TORONTO, ONTARIO--(Marketwired - Nov. 26, 2015) - Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus") announces that today its Board members were in attendance at the shipyard of Fujian Mawei Shipbuilding Ltd to see the progress that has been made on its Production Support Vessel (PSV). The PSV is to be chartered by Nautilus and its PNG partner, Eda Kopa (Solwara) Limited, from Marine Assets Corporation. It will serve as the base for its seafloor operations planned at the Solwara 1 Project, in the Bismarck Sea of Papua New Guinea.

Geoff Loudon, Nautilus' Chairman, commented, "It is very rewarding for me and my fellow Board members to be here today to meet the shipbuilders and see the impressive construction progress being made on the PSV. The shipyard 3D modelling for production drawings continues with the yard having already released 90 blocks (out of total 305) for steel-cutting and assembly has commenced on 21 blocks. To date over 10% of the total steel cut has been completed which includes the cutting of 8 full blocks. This is amazing work that has been achieved and I look forward to December 2017 when we expect to take delivery of the vessel to enable us to commence our seafloor operations in Q1 2018."

Links:

An animation of how the seafloor production system works can be viewed on the Company's website: http://www.nautilusminerals.com/irm/content/video-gallery.aspx?RID=421

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 the build of the PSV and plans for commencing seafloor operations at the Solwara 1 Project (the "Project") in Q1 2018. We have made numerous assumptions about such statements, including assumptions relating to the funding, completion and operation of the Company's seafloor production system. 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 and other risks relating to the Company's business and plans for development of the Project. The Company is assuming that the PSV and other seafloor production equipment will be built and operate according to the Nautilus specifications and on schedule. Risks related to such arrangement include the delay to the delivery of the PSV and other seafloor production equipment and a consequent delay to the commencement of seafloor operations in 2018. Risks related to advancing towards production include the risk that the Company will be unable to obtain at all or on acceptable terms the remaining financing necessary to fund completion of the build and deployment of the Company's seafloor production system. As the Company has not completed an economic study in respect of the Project, there can be no assurance that the Company's production plans will, if fully funded and implemented, successfully demonstrate that seafloor resource production is commercially viable. 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 highly prospective exploration acreage in the western Pacific (granted and under application), as well as in international waters in the Central Pacific.

A Canadian registered company, Nautilus is listed on the TSX:NUS stock exchange and trades on the 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 28.14% interest, Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 20.89% holding and global mining group Anglo American, which holds a 5.99% interest (each on a non-diluted basis, excluding loan shares outstanding under the Company's share loan plan).

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