VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2012) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) confirms it has received formal notification that Teck Resources Limited has elected not to participate in exploration activities in Fijian waters under a regional area of interest agreement signed in December 2007.
In August 2011 Nautilus became the first private sector organisation to be granted offshore exploration licences in Fiji covering a total area of approximately 60,000 km2 triggering Teck's rights to jointly participate in exploration.
Teck retains an interest in Nautilus as a significant shareholder.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits and is developing its first project at Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce gold, copper and silver. The company has been granted all necessary environmental and mining permits.
Nautilus also holds approximately 600,000 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 and AIM stock exchanges and has its corporate office in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 21% holding, and global mining group Anglo American, which holds an 11% interest.
Neither the TSX nor the London Stock Exchange accepts responsibility for the adequacy or accuracy of this press release.
Contact Information:
Investor Relations
+1 (416) 551 1100
investor@nautilusminerals.com
www.nautilusminerals.com
Numis Securities Limited
Nominated adviser: Stuart Skinner
Corporate broking: James Black
+ 44(0) 20 7260 1000