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| ||September 20, 2007|
World's First Commercial Electromagnetic Survey of Seafloor Copper-Gold Sulphides
| ||News Release Number 2007 - 34|
Vancouver B.C., September 20, 2007 - Nautilus Minerals Inc. ("Nautilus") (TSX & AIM: NUS) announces another significant development in its seafloor massive sulphide exploration program with the world's first commercial seafloor electromagnetic ("EM") survey of copper-gold massive sulphide deposits. Fifty two line-kilometres of EM data were recently acquired from a Remotely Operated Vehicle (ROV) operating in 1,500m water depth at Nautilus's Solwara 1 Project, in the territorial waters of Papua New Guinea.
Nautilus, together with its shareholder Teck Cominco Limited, have partnered with the Vancouver based Ocean Floor Geophysics Inc. to develop, deploy and protect the intellectual property associated with the deep-ocean electromagnetic technology.
Electromagnetic data have long been the geoscientist's preferred geophysical technique for locating and mapping massive sulphide mineralisation beneath the land. Now after solving the problems associated with inducing measurable fields from within the conductive sea-water environment Nautilus and its partners have shown the electromagnetic method can be utilised not only by airplane and helicopter over land, but also by ROV on the seafloor for the detection of massive sulphide systems.
The survey at Solwara 1 clearly showed an anomaly coincident with the mineralisation tested by recent drilling (http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=261949#maps) confirming the effectiveness of the EM technique to detect the presence of massive sulphide systems on the seafloor. This EM data adds value to the current diamond drilling program and the evaluation of future prospects by accurately delineating near-surface massive-sulphide boundaries.
David Heydon, Nautilus CEO commented: "Whilst the survey data are still being processed, Nautilus has already identified a series of EM anomalies that are peripheral to the area tested in this current drilling program opening up the potential for the discovery of further massive sulphide mineralisation - potentially extending the main Solwara 1 zone. We plan to follow up these anomalies in our 2008 field program and with the success of this program, propose to conduct EM surveys over our other projects. Nautilus has identified eight Solwara projects to date."
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% holding), Anglo American (6.4%), Teck Cominco (5.8%), and Barrick Gold (3.7%).
For more information please refer www.nautilusminerals.com or contact:
Nautilus Minerals Inc. (Vancouver)
Tel: +1 (416) 551 1100
Australian Project Office
Tel: +61 (7) 3318 5555
Numis Securities Limited (NOMAD)
John Harrison/James Black
Tel: +44 (0) 20 7260 1000
Tel: +44 (0) 20 7851 7480
Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.
You can view the Next News Releases item: Mon Sep 24, 2007, Significant High-Grade Copper and Gold Deposit at Solwara 1 Confirmed by Drill Assay Results
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