Nautilus Minerals Inc.
AIM : NUS
TSX : NUS

Nautilus Minerals Inc.

August 14, 2008 11:15 ET

Nautilus Minerals Inc.: Financial Results for Second Quarter 2008

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2008) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") announces the release of its unaudited consolidated financial results for the second quarter ended June 30, 2008 together with Management's Discussion and Analysis.

2nd Quarter 2008 Highlights:

- $299 million (equivalent) in cash and cash equivalents held on deposit with major banks as of June 30, 2008

- Contract signed with Canyon Offshore Inc. to provide the vessel, Remote Operated Vehicle and drilling equipment for the Company's exploration and environmental programs

- Completed initial metallurgical test work on our Solwara 1 deposit confirming that a marketable copper concentrate can be produced using standard froth floatation techniques

- New CEO and President appointed

- Contract to provide the specialist Mining Support Vessel ("MSV") for Nautilus' Solwara 1 Project in Papua New Guinea was signed with North Sea Shipping Holding AS

- Commenced our 2008 exploration campaign

Steve Rogers, President and CEO, commented: "During this second quarter of 2008, the Company completed its project targets with the award of the MSV contract, the final contract of the three components of our mining system and closed the quarter with US$299 million in cash and cash equivalents."

The Financial Statements and Management's Discussion and Analysis have been filed on www.sedar.com and are available on the Company's website, www.nautilusminerals.com.

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%). 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
    Email: investor@nautilusminerals.com
    Website: www.nautilusminerals.com
    or
    Nautilus Minerals Inc.
    Australian Project Office
    +61 (7) 3318 5555
    or
    Numis Securities Limited
    John Harrison
    Nominated Adviser
    + 44(0) 20 7260 1000
    or
    Numis Securities Limited
    James Black
    Corporate Broking
    + 44(0) 20 7260 1000