Nautilus Minerals Inc.

Nautilus Minerals Inc.

May 21, 2013 07:25 ET

Nautilus Minerals Inc.: Hearing Date Set For Arbitration

TORONTO, ONTARIO--(Marketwired - May 21, 2013) - Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus") announces that the hearing date for the arbitration commenced by the Independent State of Papua New Guinea against Nautilus has been set down for 26 August 2013.

At a directions hearing held in Sydney, Australia, the arbitrator of the dispute between the State of PNG and Nautilus, the Honourable Murray Gleeson AC QC, set the date for the hearing of the arbitration on 26 August 2013 and has set aside 10 days from that date in order to conclude the hearing, which is consistent with the Company's expectations.

Despite the date of the hearing having been fixed, Nautilus will continue to engage with the State in an effort to resolve matters amicably.

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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 more than 500,000 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:NUS) stock exchange and (OTCQX:NUSMF). Its corporate office is in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 21% holding, global mining group Anglo American, which holds an 11.1% interest and MB Holding, an Oman based group with interests in mining, oil & gas, which holds a 16.7% interest.

Neither the TSX nor the OTCQX accepts responsibility for the adequacy or accuracy of this press release.

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