Nautilus Minerals Inc. Confirms Recent SMS Discoveries in Papua New Guinea with Assays by 24hgold

Thursday, February 25, 2010
Nautilus Confirms Recent SMS Discoveries in Papua New Guinea with Assays

Toronto Ontario, February 25, 2010 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") is pleased to announce laboratory assay results for the previously announced discoveries from the MV Fugro Solstice cruise in the Bismarck Sea, Papua New Guinea. The assay results confirm high grade sulphide mineralisation at Solwara 14, 16 and 18. With Solwara 12 and 13, a total of five high grade SMS discoveries were made in 2009 and the mineralisation at Solwara 11 was extended. The 2009 work also generated many other targets and anomalies for follow-up in future exploration campaigns.

The discovery results, were previously released on January 14, 2010 (www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=380619) (reported from results obtained from handheld x-ray fluorescence ("XRF") data) collected on-board the exploration vessel.

Stephen Rogers Nautilus' CEO commented: "Work is ongoing to evaluate and rank the Bismarck systems in preparation for a proposed drilling campaign. The drilling campaign is being designed to increase our resource at Solwara 1 and elsewhere in the Bismarck Sea."

This link (www.nautilusminerals.com/i/misc/Figure1_DiscoveryLocationMap.pdf) shows the location of the SMS discoveries within the Bismarck Sea. Tables 1 to 4 provide the final assay results for Solwara 11i, 14, 16 and 18 respectively, which update the previously reported XRF results.

Table 1: Solwara 11i Final Assay Results of Sulphide Samples

			Final assay result
Sample No	Sample Type	Weight (g)	Cu %	Zn %	Pb %	Au g/t	Ag g/t	Easting²	Northing²	Depth²	Lithology
22622	CHIMNEY-ROV	2150	0.677	52.000	0.366	2.18	133	520503	9650798	-1457	Massive Sulphide
22623	CHIMNEY-ROV	3160	0.692	25.400	0.453	0.98	90	520476	9650740	-1458	Massive Sulphide
		Minimum	0.677	25.400	0.366	0.98	90
		Maximum	0.692	52.000	0.453	2.18	133
		Average	0.685	38.700	0.410	1.58	112

Results received from ALS Laboratory
Coordinates projected as UTM zone 55 south using a WGS 1984 datum

Table 2: Solwara 14 Final Assay Results of SulphideSamples

			Final assay result
Sample No	Sample Type	Weight (g)	Cu %	Zn %	Pb %	Au g/t	Ag g/t	Easting²	Northing²	Depth²	Lithology
22583	CHIMNEY-ROV	1000	0.462	11.450	0.029	3.19	57	177326	9633105	-2238	Massive Sulphide
22585	CHIMNEY-ROV	2100	0.077	3.220	0.039	2.60	29	177328	9633098	-2237	Massive Sulphide
22586	CHIMNEY-ROV	4620	7.010	8.690	0.015	1.33	64	177072	9633120	-2244	Massive Sulphide
22587	CHIMNEY-ROV	2670	0.543	11.550	0.028	2.35	58	177390	9633178	-2243	Massive Sulphide
22588	CHIMNEY-ROV	3065	0.947	9.260	0.023	2.55	53	177401	9633220	-2243	Massive Sulphide
22590	CHIMNEY-ROV	3245	0.432	11.400	0.024	2.55	52	177359	9633168	-2246	Massive Sulphide
22591	CHIMNEY-ROV	5097	0.714	30.200	0.026	5.67	132	177337	9633144	-2242	Massive Sulphide
22592	CHIMNEY-ROV	3966	0.211	14.900	0.032	3.72	80	177331	9633122	-2238	Massive Sulphide
22594	CHIMNEY-ROV	1102	1.300	31.200	0.021	1.33	96	177057	9633141	-2242	Massive Sulphide
22595	CHIMNEY-ROV	4895	1.590	17.950	0.027	4.40	184	177063	9633142	-2240	Massive Sulphide
22597	CHIMNEY-ROV	6175	4.920	10.300	0.015	1.10	48	177046	9633088	-2244	Massive Sulphide
22598	CHIMNEY-ROV	2870	0.356	27.400	0.107	6.28	165	177015	9633059	-2247	Massive Sulphide
22599	CHIMNEY-ROV	5038	0.226	40.100	0.080	3.77	169	176995	9633034	-2244	Massive Sulphide
22601	CHIMNEY-ROV	5209	0.798	41.100	0.083	5.67	166	177082	9633170	-2248	Massive Sulphide
		Minimum	0.077	3.220	0.015	1.10	29
		Maximum	7.010	41.100	0.107	6.28	184
		Average	1.399	19.194	0.039	3.32	97

Table 3: Solwara 16 Final Assay Results of Sulphide Samples

			Final assay result
Sample No	Sample Type	Weight (g)	Cu %	Zn %	Pb %	Au g/t	Ag g/t	Easting²	Northing²	Depth²	Lithology
22602	CHIMNEY-ROV	1420	1.200	22.700	0.012	1.13	38	830088	9619519	-2162	Massive Sulphide
22603	CHIMNEY-ROV	894	9.400	5.630	0.019	1.22	73	830099	9619505	-2147	Massive Sulphide
22604	CHIMNEY-ROV	3070	0.151	14.000	0.063	5.12	140	830124	9619542	-2149	Massive Sulphide
22605	CHIMNEY-ROV	2319	0.297	19.050	0.035	4.38	172	830095	9619634	-2159	Massive Sulphide
22607	CHIMNEY-ROV	1276	0.305	32.800	0.043	3.71	138	829893	9619433	-2163	Massive Sulphide
22608	CHIMNEY-ROV	1425	1.500	17.250	0.026	1.37	70	829946	9619369	-2160	Massive Sulphide
		Minimum	0.151	5.630	0.012	1.13	38
		Maximum	9.400	32.800	0.063	5.12	172
		Average	2.142	18.572	0.033	2.82	105

Table 4: Solwara 18 Final Assay Results of Sulphide Samples

			Final assay result
Sample No	Sample Type	Weight (g)	Cu %	Zn %	Pb %	Au g/t	Ag g/t	Easting²	Northing²	Depth²	Lithology
22618	CHIMNEY-ROV	2980	0.108	25.000	1.365	0.19	134	526570	9660001	-1308	Semi-massive Sulphide
22619	CHIMNEY-ROV	2995	0.499	14.100	1.050	0.18	85	526600	9659998	-1308	Semi-massive Sulphide
		Minimum	0.108	14.100	1.050	0.18	85
		Maximum	0.499	25.000	1.365	0.19	134
		Average	0.304	19.550	1.208	0.19	110

Sampling Procedure

Grab samples were collected from the seafloor using a manipulator arm mounted on the remotely operated vehicle ("ROV"). Chimney samples averaging 37 kg (from 5 kg to 70 kg) were recovered and processed on board the ship. Sub-samples averaging 4.8 kg (from 1.6 kg to 7.3 kg) were taken from each of the sulphide samples using a pneumatic jack hammer, generally taking a cross section of the sample towards the base of the block. The remaining portions of each sample were retained for reference purposes.

Equipment Spread

The mapping work described herein was completed using a Fugro FV3000 series ROV. The ROV is equipped with sensors used to map the seafloor. These include: various video cameras and two magnetometers provided by Ocean Floor Geophysics Inc. In addition, high-resolution mapping sonars housed on the ROV were successfully used for the first time to identify real-time seafloor features ahead and to the sides of the ROV beyond the range of the video camera systems used previously.

For seafloor sampling purposes, the ROV is equipped with two manipulator arms and a custom-built sample tray, or "geobox", for storing up to 10 hand-sized grab samples or scoop samples. Larger samples are stowed and recovered using a custom built array of salvage bins.

Laboratory Assaying

All laboratory analyses were carried out by ALS Laboratory Group in Brisbane and Townsville, 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".

Sample Custodianship

All sampling, sample handling and analysis was completed under the supervision of Nautilus personnel. Sampling was carried out aboard the MV Fugro Solstice while at sea. All sub-samples were placed into numbered plastic bags. The bagged samples were then subsequently placed into sealed plastic containers with security tags, and transported to ALS laboratories in Townsville, Australia, via courier.

Quality Assurance

Low-grade blank material, field-duplicates and externally certified geochemical reference materials with known concentrations of gold, copper, zinc, lead and silver were included for analysis with each batch of samples as per a documented quality assurance/quality control procedure. Analysis of these reference materials indicates that the quality of sample preparation and analyses are within acceptable limits for the reporting exploration results.

Qualified Person

The exploration results reported in this announcement have been compiled under the supervision of Michael Johnston, Vice President Strategic Development of Nautilus Minerals. Mr Johnston is a member of the Australasian Institute of Mining and Metallurgy, has over 25 years experience in mining and exploration geology, and is a qualified person as defined by National Instrument 43-101. He consents to his name being used in this release.

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for polymetallic 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 AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%), Teck Resources (6.8%) and Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, beneficially owns 21.0% of its shares through Gazmetall Holding (Cyprus) Limited.

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.

You can also view this News Release on our website at:
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=386682

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