Nautilus Minerals Inc.
AIM : NUS
TSX : NUS

Nautilus Minerals Inc.

September 24, 2007 08:29 ET

Nautilus Minerals Inc.: Significant High-Grade Copper and Gold Deposit at Solwara 1 Confirmed by Drill Assay Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2007) - Nautilus Minerals Inc. ("Nautilus") (TSX:NUS)(AIM:NUS) announces that it has received high-grade Copper ("Cu") and Gold ("Au") assays over significant widths from this year's drilling program at its Solwara 1 prospect located in the territorial waters of Papua New Guinea ("PNG") (http://www.nautilusminerals.com/i/misc/Solwara-1_2007-Holes_Sep07.jpg). Selected intercepts from the Solwara 1 drilling program are listed in Table 1 below.



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Table 1 Solwara 1 Drilling - Selected Intercepts
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Hole Hole
Number Massive Sulphide Intercepts Depth From To

Interval Cu Au Pb Zn XRF(i)
(m) % g/t % % Cu % (m) (m) (m)
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SD038 5.9 15.3 11.7 0.1 0.7 10.2 13.6 1.1 7.0
SD042 6.2 12.2 12.9 0.1 0.2 8.1 8.9 0.0 6.2
SD047 9.3 11.0 6.3 0.0 0.1 4.6 9.5 0.3 9.5
SD052 7.8 11.8 15.1 0.1 0.2 12.0 16.7 0.3 8.1
SD056 18.9 5.0 3.4 0.1 0.4 4.7 18.9 0.0 18.9
Hole ended in mineralisation
SD063 6.9 10.1 7.4 0.1 0.1 6.9 11.9 0.8 7.7
SD064 13.7 8.5 8.4 0.1 0.5 9.6 19.5 0.4 14.1
SD065 8.1 14.8 8.4 0.0 0.1 13.5 9.6 0.2 8.3
SD072 6.5 13.4 9.4 0.0 0.0 12.2 15.1 1.7 8.2
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(i)XRF Cu results are the results from hand XRF instrument reported
previously.


David Heydon, Nautilus CEO, commented: "These results confirm that there is a significant high-grade copper and gold deposit at Solwara 1. Results to date have returned 36 mineralised intercepts from 44 holes with spectacular intercepts like hole SD 052 with 7.8 metres at 11.8% Cu and 15.1 g/t Au, and hole SD065 with 8.1m at 14.8% Cu and 8.4 g/t Au."

"These outstanding results demonstrate that the high grades returned from 146 surface samples at Solwara 1 averaging 11.3% Cu and 15.2 g/t Au continue at depth with holes intersecting up to 19m (open at depth) high-grade massive sulphide mineralisation. Of the 36 sulphide intercepts reported today, 18 of them remain open at depth. The results also show remarkable consistency of the Cu and Au grades within the mineralised massive sulphide zones: It is rare to see an assay below 2% Cu within the mineralised zones."

"It is particularly encouraging that the first prospect that we have evaluated, Solwara 1, has returned such encouraging grades over such thicknesses. There are a further seven systems that we have already identified in Nautilus' exploration licences in PNG, four of which we discovered in four weeks target testing this year. We are currently planning the next program with the aim of extending this prospect inventory further."

A total of 107 holes were drilled during the program this year over the Solwara 1 Prospect. All samples have been despatched for analysis.

A full listing of the mineralised intercepts for holes with assays received to date are listed in table 2 below and listing of assay results are available on the Nautilus Minerals Website at (http://www.nautilusminerals.com/i/misc/DrillData.pdf). Additionally examples of the drillcore can be viewed at (http://www.nautilusminerals.com/i/misc/CorePhotos.jpg).

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 between the island chains of New Britain and New Ireland in the western Pacific Ocean. Nautilus is listed on the TSX and on AIM, and has among its largest shareholders four of the world's largest international resource companies, including Epion (16.8%), Anglo American (6.4%), Teck Cominco (5.8%), and Barrick Gold (3.7%).

Drill Intercepts

Qualified Person:

The exploration results reported in this announcement have been compiled under the supervision of Anthony O'Sullivan, Chief Operating Officer of Nautilus. Mr. O'Sullivan is a member of the Australasian Institute of Mining and Metallurgy, has 20 years experience in mining and exploration geology, and is a qualified person as defined under National Instrument 43 - 101. He consents to his name being used in this release

Laboratory Analysis:

Analysis was completed by ALS Laboratory Group in Brisbane, Australia. ALS operates quality systems based on international standards ISO/IEC17025:1999 "General requirements for the competence of calibration and testing laboratories" and ISO9001:2000 "Quality Management Systems - Requirements".

Sampling:

All cores were recovered using ROV Drill submarine drilling techniques returning NQ (49mm) diameter core. All holes are vertical and the deposit is essentially flat lying so intercept widths are considered to be true widths. All sampling, sample handling and analysis was completed under the supervision of Nautilus personnel. Sampling was carried out aboard the vessel whilst at sea. Drillcore was split using a core saw, typically with 50% of core submitted for assay and 50% retained for reference or use in geotechnical or metallurgical testwork.

All sub-samples were placed into numbered plastic vacuum sealed bags. The bagged samples were subsequently placed into boxes. The boxes were sealed with uniquely numbered security tags and checked upon arrival to the laboratories. A full electronic chain of custody is maintained whilst the samples are under the care of ALS.

Quality Assurance:

External certified geochemical reference materials were prepared by Geostats Pty Ltd, of Perth, Western Australia with known and statistically tested concentrations of the major base and precious metals. Standards were submitted approximately every tenth sample.

Nautilus has been working closely with Golder and Associates who have been supervising the sampling and collection of geological data, and have been tasked with compiling the subsequent resource estimate and associated NI 43 101 compliant documentation. No significant issues have been noted by Golders in their work to date.

Data Reduction:

Following QA/QC checks, all data have been reviewed and mineralised intervals defined taking into account natural geological boundaries and applying a nominal 2% Cu cuttoff. Zones of lost cores and areas of potential voids were assigned the average grade of material above and below the area of no core recovery. Intercepts averages were calculated using length weighted averages for the sample assays within the intervals. Full assay results are available on the Nautilus website at (http://www.nautilusminerals.com/i/misc/DrillData.pdf).



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Table 2:Solwara 1 Drilling - Mineralised Intervals - Holes SD36 - SD 79
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Hole Hole
Number Massive Sulphide Intercepts Depth From To

Interval Cu Au Pb Zn XRF
(m) % g/t % % Cu % (m) (m) (m)
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SD036 2.2 10.1 11.9 0.2 0.6 7.6 2.3 0.2 2.3
Hole ended in mineralisation
SD037 3.0 7.9 10.5 0.1 0.6 2.2 3.0 0.0 3.0
Hole ended in mineralisation
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SD038 5.9 15.3 11.7 0.1 0.7 10.2 13.6 1.1 7.0
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SD040 0.9 9.4 6.4 0.0 0.6 2.6 2.8 1.9 2.8
Hole ended in mineralisation
SD041 5.3 5.9 3.1 0.1 0.4 3.2 9.2 3.9 9.2
Hole ended in mineralisation
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SD042 6.2 12.2 12.9 0.1 0.2 8.1 8.9 0.0 6.2
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SD043 7.2 7.6 7.1 0.2 1.4 5.6 7.8 0.6 7.8
Hole ended in mineralisation
SD044 Poor recovery - Altered volcanic rock 6.1
SD045 Poor recovery - Altered volcanic rock 2.7
SD046 6.3 5.4 7.0 0.3 1.8 1.6 13.2 0.3 6.5
Hole ended in mineralisation
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SD047 9.3 10.4 6.4 0.0 0.1 4.6 9.5 0.3 9.5
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Hole ended in mineralisation
SD048 5.7 7.5 3.6 0.0 0.0 0.9 14.9 1.9 7.7
SD049 6.5 6.9 3.2 0.0 0.1 7.1 17.2 1.1 7.6
SD050 0.8 6.3 3.9 0.2 0.6 1.7 10.1 0.0 0.8
SD051 3.4 5.5 7.4 0.0 0.0 8.9 13.3 1.7 5.2
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SD052 7.8 11.8 15.1 0.1 0.2 12.0 16.7 0.3 8.1
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SD053 5.0 9.2 9.4 0.1 0.6 5.3 15.3 1.2 6.1
SD054 2.2 10.7 3.1 0.2 1.4 8.0 17.2 1.2 3.4
SD055 0.8 4.8 8.3 0.2 0.5 4.8 6.8 0.9 1.7
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SD056 18.9 5.0 3.4 0.1 0.4 4.7 18.9 0.0 18.9
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Hole ended in mineralisation
SD057 0.6 11.1 10.6 0.5 2.5 9.9 3.1 0.0 0.6
Hole ended in mineralisation
SD058 Poor recovery - ended in massive sulphide 12.0
SD059 5.5 8.4 3.5 0.1 0.1 7.8 7.2 1.0 6.6
Hole ended in mineralisation
SD060 3.3 7.6 3.2 0.1 0.2 2.7 18.1 0.0 3.3
SD061 4.0 10.5 9.3 0.2 0.4 9.3 4.7 0.4 4.4
Hole ended in mineralisation
SD062 4.3 8.9 5.7 0.1 0.2 6.3 14.3 0.9 5.2
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SD063 6.9 10.1 7.4 0.1 0.1 6.9 11.9 0.8 7.7
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SD064 13.7 8.5 8.4 0.1 0.5 9.6 19.5 0.4 14.1
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SD065 8.1 14.8 8.4 0.0 0.1 13.5 9.6 0.2 8.3
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Hole ended in mineralisation
SD066 Volcanic Rock 5.1
SD067 No Assay Data Available 4.8
SD068 5.4 7.0 5.5 0.1 0.2 6.2 9.6 3.5 8.8
Hole ended in mineralisation
SD069 7.6 4.3 4.7 0.0 0.1 4.1 7.6 0.0 7.6
Hole ended in mineralisation
SD070 0.9
Hole ended in mineralisation
SD071 7.3 3.7 3.3 0.1 0.7 3.9 12.9 5.6 12.9
Hole ended in mineralisation
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SD072 6.5 13.4 9.4 0.0 0.0 12.2 15.1 1.7 8.2
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SD073 3.6
SD074 2.7 10.7 7.8 0.1 0.5 6.7 8.4 0.3 3.0
SD075 12.6 6.6 3.8 0.1 0.5 9.5 14.1 0.0 12.6
SD076 6.6 3.7 2.7 0.0 0.1 3.7 9.7 2.5 9.1
Hole ended in mineralisation
SD077 Weakly mineralised sulphide 13.9 1.0
SD078 0.3 15.3 14.9 0.3 1.5 11.0 12.2 1.4 1.7
SD079 6.7 4.9 4.1 0.1 1.2 5.9 7.0 0.3 7.0
Hole ended in mineralisation
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