Nautilus Minerals Inc.

Nautilus Minerals Inc.

March 28, 2008 08:53 ET

Nautilus Minerals Inc.: Annual Results

TORONTO, ONTARIO--(Marketwire - March 28, 2008) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") announces the release of its audited consolidated financial results for the year ended December 31, 2007, reported under Canadian GAAP, together with Management's discussion and analysis and Annual Information Form.

2007 Highlights

- Raised $214 million (equivalent) gross proceeds equity throughout the year in three brokered and strategic shareholder placements

- $310 million (equivalent) in cash and cash equivalents held on deposit with major banks at year end (no Asset Backed Commercial Paper exposure)

- Secured the grant in 2007 of 56 new exploration licenses covering approximately 140,000km2 in the territorial waters of Papua New Guinea, Solomon Islands and Tonga

- Discovered four new seafloor massive sulphide prospects

- Admitted to AIM in February 2007

- Graduated to Toronto Stock Exchange ("TSX") in August 2007

- Strengthened the board of directors with two new appointments

- Launched the development of the world's first seafloor massive sulphide resource project - Solwara 1 - awarded first of three major offshore contracts.

- Teck Cominco exercised 3,000,000 $5.00 warrants at a significant market premium to meet first trigger of joint venture rights

- Completed the world's first seafloor massive sulphide resource estimate

David Heydon, Nautilus' CEO, commented: "2007 was a year of significant progress and success for Nautilus with the discovery of four new mineralised systems and achieving a string of world first's in ROV drilling, geophysics and the world's first NI 43-101 compliant resource estimate for a Seafloor Massive Sulphide (SMS) system. The Company is focussed not just on the development of a new mine but of a new industry and the success the Company experienced in 2007 has it well positioned to become an emerging producer in 2010".

Nautilus has filed its Annual Information Form for the year ending December 31, 2007. The Company's Financial Statements, Management's Discussion and Analysis, Annual Information Form and Technical Report are available from the Company's website, and SEDAR,

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and subject to timely permitting is positioning itself to become an emerging producer in 2010. The Company's main focus 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 two of the world's leading international resource companies, Teck Cominco (7.2%) and Anglo American (5.7%). Nautilus' largest shareholder, Epion (22.4%), is controlled by the founder of Metalloinvest one of the largest and fastest growing mining and metallurgical holdings in Russia.

Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Nautilus Minerals Inc. (Toronto)
    Investor Relations
    (416) 551-1100
    Nautilus Minerals Inc.
    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)
    Charlie Geller/Arabella Hobbs
    + 44(0) 20 7429 6610 / +44(0) 7979 067 320