Vancouver B.C., May 30, 2007 -- Nautilus Minerals Inc. (TSXV: NUS, AIM:NUS & NUSR) (the "Company" or "Nautilus") announces the release of its unaudited consolidated financial results for the first quarter ended March 31, 2007 together with Management's discussion and analysis.
First Quarter Highlights:
- US$100 million private placement completed with the Company being admitted to AIM
- US$75 million private placement completed in North America
- Commencement of world's largest commercial exploration program for high grade seafloor massive sulphide systems
- Discovery of three new seafloor massive sulphide systems in the territorial waters of Papua New Guinea, which the Company has called Solwara 5, 6 and 7.
David Heydon, CEO of the Company, commented: "The first quarter has been a very successful one for the Company with the completion of an additional US$175 million capital raising and the commencement of the world's largest commercial exploration program for high grade seafloor massive sulphide systems. The program has already seen great success with the discovery of three new seafloor massive sulphide systems -- Solwara 5, 6 and 7."
The Financial Statements and Management's Discussion and Analysis have been filed on www.sedar.com.
Options
The Company has granted 175,000 options to employees of the Company effective from May 28, 2007 at a price of C$5.10 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.
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.
For more information please refer www.nautilusminerals.com or contact:
Investor Relations
Nautilus Minerals Inc. (Vancouver)
Email: investor@nautilusminerals.com
Tel: +1 (778) 785 7591
President & CEO
Mr. David Heydon
Email: ceo@nautilusminerals.com
Tel: +1 (778) 785 7591
Numis Securities Limited (NOMAD)
John Harrison/James Black
Tel: +44 (0) 20 7260 1000
Parkgreen Communications
Clare Irvine/Justine Howarth
Tel: +44 (0) 20 7851 7480
Neither the TSXV nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.