Nautilus Minerals Inc.

Nautilus Minerals Inc.

March 30, 2007 10:14 ET

Nautilus Minerals Inc.: Financial Results for the Year Ended December 31, 2006

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2007) - Nautilus Minerals Inc. (TSX VENTURE:NUS)(AIM:NUS)(AIM:NUSR) (the "Company" or "Nautilus") announces the release of its audited consolidated financial results for the year ended December 31, 2006, reported under Canadian GAAP and IFRS, together with Management's Discussion and Analysis.

2006 Highlights

- Reverse Takeover and C$25 million private placement completed with Company listing on TSX-V in May 2006

- Conversion of Barrick Gold's joint venture interest into equity

- Private placements with major mining investors including Teck Cominco and Anglo American totaling approximately US$100 million

- Heads of Agreement with Jan De Nul to build, in relation to the provision of and operation of, a mining vessel

- Additional exploration applications lodged in Papua New Guinea, Fiji and Tonga increasing the area covered by exploration licenses and applications to over 276,000 km2

2007 Highlights

- US$100 million private placement completed with Company listing on AIM

- US$75 million private placement in North America

- Commencement of world's largest commercial exploration program for high grade seafloor massive sulphide systems

David Heydon, CEO of the Company, commented: "These results reflect a very successful year for the Company which is now well positioned to execute its business plan. In the eight months of 2006 since listing in May, the Company raised approximately US$100 million in private placements and introduced a number of major mining investors to the Company. The 2007 year has already seen an additional US$175 million raised and a major exploration program launched allowing the Company to maintain the momentum established in 2006."

Heydon added - "as reported on March 21, 2007, the Company has launched the world's largest commercial exploration program for high grade seafloor massive sulphide systems based around the 141 meter vessel "Wave Mercury". This major program will involve 180 days on site, incorporating geophysical surveys, sampling, drilling and environmental studies to support the Solwara 1 mine plan."

The Financial Statements and Management's Discussion and Analysis follow.


The Company has cancelled 400,000 options previously issued to an employee of the Company and granted 694,025 options to an employee and director of the Company effective from March 29, 2007 at a price of C$4.83 for 400,000 options, C$4.72 for 29,365 options and C$4.79 for 264,660 options for a term of three years vesting as to 20% every six months for a period of 30 months starting six months from the date of grant for 400,000 and for the remainder, vesting as to 25% on grant and 25% each six months thereafter.

Clarification of Directors' Holdings

As at March 30, 2007, the interests of the Directors in the share capital of the Company are as follows:

Director Number of common Percentage of common
shares held shares held
A. Geoffrey Loudon 1,535,175 1.18%
David J. Heydon 3,298,625 2.53%
David E. De Witt 324,437 0.25%
Russell S. Debney 478,300 0.37%

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for high grade gold-copper-zinc-silver seafloor massive sulphide deposits and is positioned to become a world leader in underwater mineral exploration. The Company's main focus for 2007 is the Solwara 1 Project, located in the territorial waters of Papua New Guinea in the western Pacific Ocean. The four largest shareholders of the Company are resource companies Anglo American, Teck Cominco, Epion and Barrick Gold.

Contact Information

  • Nautilus Minerals Inc. (Vancouver)
    Investor Relations
    (778) 785-7591
    Nautilus Minerals Inc.
    Mr. David Heydon
    President & CEO
    (778) 785-7591
    Numis Securities Limited (NOMAD)
    John Harrison/James Black
    +44 (0) 20 7260 1000
    Parkgreen Communications
    Clare Irvine/Justine Howarth
    +44 (0) 20 7851 7480