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07-May-13 -
Nautilus Minerals Announces Financial Results for Q1 2013 (more...)
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| | December 11, 2007
Nautilus Appoints Non Executive Director
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News Release Number 2007-49
Vancouver B.C., December 11, 2007 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") is pleased to announce the appointment to the Board of Mr. John O' Reilly as a non executive director effective immediately.
Mr. O'Reilly, who holds a BSc in Metallurgy and an MSc in Mineral Process Design, brings with him a wealth of expertise having over 40 years experience in the international mining industry. This includes 19 years with Rio Tinto Plc ("Rio Tinto"), including Head of Technology and Head of Gold and Other Minerals, based in London, and a secondment to the Lihir Management Company as Managing Director. John was the inaugural Chief Executive Officer of Lihir Gold Ltd in Papua New Guinea, a plus 40 million ounces gold resource, where he was responsible for the design, engineering, construction and initial operation of the US$900 million Lihir mine, plant and associated infrastructure. John retired as a non-executive director of Lihir Gold Ltd in end 2006.
In his last position as Head of Technology at Rio Tinto, John was responsible for the technical services, technical evaluation, project management, health safety and environmental issues and asset utilisation units. He sat on the Rio Tinto board committee for Social and Environment Accountability. His directorships include, Lion Selection Ltd, Cambrian Mining Plc, Ausenco Ltd and OJSC Polymetal.
David Heydon, Nautilus' President and CEO, commented: "We are delighted that Nautilus has been able to secure a non executive director with John's experience. His extensive knowledge and background in the mining industry, specifically major project delivery in Papua New Guinea where we are focused on developing the Solwara 1 deposit as the world's first high grade seafloor copper-gold mine makes John an invaluable addition to the Nautilus Board of Directors. John's appointment rounds out our Board and management team as we move in to the development phase.
(http://www.nautilusminerals.com/s/CorporateInfo.asp)"
The Company is required to disclose under the AIM Rules for Companies the following information in relation to the appointment of John Francis O'Reilly (62) as a director of the Company:
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Directorships and partnerships
Current directorships and held by Mr. O'Reilly in the
partnerships held by Mr. O'Reilly last five years
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Lion Selection Ltd. Lihir Gold Ltd.
Cambrian Mining Plc Lion Selection Group Ltd.
Ausenco Ltd. AuSelect Ltd.
OJSC Polymetal
Indophil Resources NL
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There is no further information, in connection with his appointment, which is required to be disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies.
Options Granted
On December 4, 2007, the Company granted 100,000 options to John O'Reilly at an exercise price of C$4.43 and vest at 20% every six months from the issue and expiring on November 13, 2010. The options granted to John O'Reilly are received in lieu of payment for his services as a director for the Company.
In addition, 164,614 options were granted to David Heydon, in accordance with his Employment Contract at an exercise price of C$4.03 and vest at 25% immediately and every six months thereafter.
The details regarding the options granted are as follows:
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Date of No. of Exercise Vesting Expiration
Name grant Options Price period Date
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John O'Reilly December 4, 100,000 C$4.43 20% every 6 December 4,
2007 months from 2010
date of
issue
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David Heydon December 4, 164,614 C$4.03 25% on December 4,
2007 grant and 2010
25% every
6 months
thereafter
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Total granted 264,614
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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 positioned to become an emerging producer in 2010. The Company's main focus for 2008 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 three of the world's largest international resource companies, including Epion (22.9%), Anglo American (5.8%) and Teck Cominco (5.3%).
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
Email: ceo@nautilusminerals.com
Tel: +61 (7) 3318 5555
Numis Securities Limited (NOMAD)
John Harrison/James Black
Tel: +44 (0) 20 7260 1000
Conduit PR Ltd (UK Financial PR)
Arabella Hobbs/ Charlie Geller
Tel: +44(0)7429 6610 / +44 (0) 20 7429 6604
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