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Nautilus Minerals Inc.

Published : February 17th, 2009

Teck Confirms Seafloor Massive Sulphide Exploration Plans

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Keywords :   Copper | Fiji | Gold | Guinea | Japan | London | New Guinea | New Zealand | Papua New Guinea | Russia |

Tuesday, February 17, 2009
Teck Confirms Seafloor Massive Sulphide Exploration Plans

News Release Number 2009-02


Toronto Ontario, February 17, 2009 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") announces that Teck Cominco Limited ("Teck") has confirmed its exploration expenditure in Papua New Guinea ("PNG") and Tonga during 2008 to be US$14.8 million. This exceeded the minimum expenditure required for Teck to earn the right to form a joint venture with Nautilus in the countries of PNG and Tonga which was set at US$12 million. Despite this expenditure in 2008, Teck has elected not to participate further in PNG and Tonga where it would have been required to meet a US$25 million expenditure commitment in each country over the next two years.

Teck has also advised that it wishes to retain the right to joint venture with Nautilus in Fiji, New Zealand, Japan and Northern Marianas, subject to grant of title. Refer to releases www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=162197 and www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=278422 for details on the Teck agreements.

Nautilus' CEO, Stephen Rogers, commented: "During 2008 we enjoyed considerable success working with Teck. Seven new Seafloor Massive Sulphide ("SMS") systems were discovered in PNG and Tongan waters. We are encouraged that Teck has decided to retain its options to joint venture with us in other countries. A strong working relationship has developed between our exploration teams and we look forward to working with Teck again in the future."

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and is currently developing its first project. 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 (6.8%) and Anglo American (11.1%). Epion (21%) is controlled by the founder of Metalloinvest one of the largest and fastest growing mining and metallurgical holdings in Russia.

For more information please refer www.nautilusminerals.com or contact:

Investor Relations
Nautilus Minerals Inc. (Toronto)
Email: investor@nautilusminerals.com
Tel: +1 (416) 551 1100

Australian Project Office
Tel: +61 (7) 3318 5555

Numis Securities Limited
Nominated adviser: John Harrison
Corporate broking: James Black
Tel: + 44(0) 20 7260 1000

Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.

View News Release in PDF Format:
Associated File: http://www.nautilusminerals.com/i/pdf/2009-02-17_NR.pdf
55 KB in size, approx. 11 seconds to download at 56.6Kbps

You can also view this News Release on our website at:
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=338444

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� 2008 Nautilus Minerals Inc. All Rights Reserved.
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Nautilus Minerals Inc.
DEVELOPMENT STAGE
CODE : NUS.TO
ISIN : CA6390971043
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Nautilus Min. is a zinc and gold exploration company based in Canada.

Nautilus Min. develops zinc, gold, copper and silver in Papua New Guinea, and holds various exploration projects in Papua New Guinea.

Its main asset in development is SOLWARA 1 in Papua New Guinea and its main exploration property is SOLWARA 12 in Papua New Guinea.

Nautilus Min. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 33.5 millions as of today (US$ 24.9 millions, € 22.2 millions).

Its stock quote reached its highest recent level on January 04, 2008 at CA$ 3.90, and its lowest recent point on January 04, 2019 at CA$ 0.05.

Nautilus Min. has 670 160 000 shares outstanding.
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