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January 14, 2010
Nautilus Minerals Discovers Five High Grade Copper-Zinc Systems.

Toronto Ontario, January 14, 2010 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") is pleased to announce the discovery of five high grade Seafloor Massive Sulphide ("SMS") systems, designated Solwara 12, 13, 14, 16, and 18, during its 2009 exploration campaign. Copper grades up to 32.4% and zinc grades up to 52.6% were reported from grab samples collected from these discoveries using a hand held x-ray fluorescence ("XRF") meter. Final assays on samples collected from Solwara 12 and 13, have also been received, and indicate gold up to 39.7 g/t and silver up to 682 g/t. Additionally, the company has made a further high grade discovery at Solwara 11 (11i) in the Western Bismarck Sea.

Stephen Rogers, Nautilus' CEO commented: "Further success in the Bismarck Sea, PNG, combined with good assay results clearly highlights this region as a significant SMS domain. Our work is now focussed on the evaluation and ranking of the new systems in preparation for an intensive drilling campaign in 2010."

The exploration vessel MV Fugro Solstice was successfully demobilised in Singapore on 12 January 2010 after completing a 132 day program of water geochemistry studies, geophysics, remotely operated vehicle ("ROV") mapping and ROV sampling. A total of 18 SMS systems have now been defined within the Bismarck Sea, along with numerous zones of hot water venting, smaller chimney fields, and barite-rich zones.

Final assay results, including gold (Au) and silver (Ag), on samples collected from Solwara 12 and 13, which were previously reported on 4 November 2009 (www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=370349) indicate high precious metal grades, which is consistent with other SMS systems in the Bismarck Sea. Assays up to a maximum of 39.70 g/t Au and 682 g/t Ag were recorded from the 10 sulphide samples collected at Solwara 12, and a maximum of 9.23 g/t Au and 1,550 g/t Ag were recorded from the seven samples collected at Solwara 13.

A further two lower grade systems (Solwara 17 and 19) were also discovered in the Bismarck Sea and one new system (Solwara 15) where samples were not taken due to an ROV breakdown. All three systems will require further investigation. Nautilus considers the presence of hydrothermal mineralisation and alteration at these sites encouraging, especially given that the two lower grade systems occur in the older part of the Bismarck Sea. Additional exploration work is planned to test this potential.

Links:

Figure 1: www.nautilusminerals.com/i/misc/Figure1_DiscoveryLocationMap.pdf
Figure 2: www.nautilusminerals.com/i/misc/Figure2_Solwara12SMSsystem.pdf
Figure 3: www.nautilusminerals.com/i/misc/Figure3_Solwara13SMSsystem.pdf
Figure 4: www.nautilusminerals.com/i/misc/Figure4_Solwara14SMSsystem.pdf
Figure 5: www.nautilusminerals.com/i/misc/Figure5_Solwara15SMSsystem.pdf
Figure 6: www.nautilusminerals.com/i/misc/Figure6_Solwara16SMSsystem.pdf
Figure 7: www.nautilusminerals.com/i/misc/Figure7_Solwara17SMSsystem.pdf
Figure 8: www.nautilusminerals.com/i/misc/Figure8_Solwara18SMSsystem.pdf
Figure 9: www.nautilusminerals.com/i/misc/Figure9_Solwara19SMSsystem.pdf
Figure 10: www.nautilusminerals.com/i/misc/Figure10_Solwara11iSMSsystem.pdf

Figure 1 shows the location of SMS discoveries within the Bismarck Sea, as of 30 December 2009.

Solwara 12 and 13:

Solwara 12 and 13 systems occur in the eastern Manus Basin, approximately 40 to 60km NNW of Solwara 1 (Figure 1). Preliminary XRF results were reported previously. Final assay results are shown in Tables 1 and 2 below, and highlight the high grade of the samples, particularly with regard to precious metals.

Table 1: Solwara 12 Final Assay Results (sulphide samples only)

Solwara12			Final assay result
Sample No	Sample Type	Weight (g)	Cu (pct)	Zn (pct)	Pb (pct)	Au (g/t)	Ag (g/t)	Easting²	Northing²	Depth²	Lithology
22561	CHIMNEY-ROV	4700	0.006	52.000	3.150	<0.01	451	375817	9590023	-1876	Massive Sulphide
22562	CHIMNEY-ROV	4900	0.101	22.900	2.290	0.63	538	375856	9590023	-1866	Massive Sulphide
22564	CHIMNEY-ROV	5500	0.044	20.900	0.890	0.01	186	375870	9589991	-1910	Massive Sulphide
22565	CHIMNEY-ROV	3900	21.800	3.420	0.095	16.20	313	375849	9590083	-1922	Massive Sulphide
22566	CHIMNEY-ROV	5200	0.530	30.200	2.520	12.05	453	375888	9590088	-1907	Massive Sulphide
22568	CHIMNEY-ROV	5500	0.512	36.100	2.430	39.70	458	375915	9590092	-1899	Massive Sulphide
22569	CHIMNEY-ROV	3700	0.257	17.350	10.400	24.80	682	375949	9590085	-1887	Massive Sulphide
22570	CHIMNEY-ROV	7300	13.400	14.500	0.222	3.70	271	375852	9590082	-1923	Massive Sulphide
22571	CHIMNEY-ROV	4500	32.400	9.900	0.730	5.65	292	375877	9590024	-1901	Massive Sulphide
22573	CHIMNEY-ROV	5200	0.932	18.900	12.700	34.20	601	375961	9590118	-1905	Massive Sulphide
		Minimum	0.006	3.420	0.095	<0.01	186
		Maximum	32.400	52.000	12.700	39.70	682
		Average	6.998	22.617	3.543	13.69	425
	1. Results received from ALS Laboratory 2. Coordinates projected as UTM zone 56 south using a WGS 1984 datum 3. <0.01 = below detection limit

Table 2: Solwara 13 Final Assay Results (sulphide samples only)

Solwara13			Final assay result
Sample No	Sample Type	Weight (g)	Cu (pct)	Zn (pct)	Pb (pct)	Au (g/t)	Ag (g/t)	Easting²	Northing²	Depth²	Lithology
22574	CHIMNEY-ROV	2600	16.450	13.900	0.424	4.35	140	360741	9587443	-2006	Massive Sulphide
22576	CHIMNEY-ROV	3800	0.409	43.900	8.280	1.34	987	360740	9587427	-2002	Massive Sulphide
22577	CHIMNEY-ROV	6500	0.254	52.600	0.897	7.27	631	360766	9587467	-2004	Massive Sulphide
22578	CHIMNEY-ROV	3650	28.000	7.580	0.211	9.23	105	360750	9587449	-2005	Massive Sulphide
22579	CHIMNEY-ROV	6700	0.131	43.400	11.450	0.03	1550	360776	9587466	-2006	Massive Sulphide
22581	CHIMNEY-ROV	1600	13.250	23.700	0.810	6.72	170	360757	9587438	-2001	Massive Sulphide
22582	CHIMNEY-ROV	6000	5.460	30.000	0.794	4.10	241	360759	9587433	-1997	Massive Sulphide
		Minimum	0.131	7.580	0.211	0.03	105
		Maximum	28.000	52.600	11.450	9.23	1550
		Average	9.136	30.726	3.267	4.72	546
1. Results received from ALS Laboratory 2. Coordinates projected as UTM zone 56 south using a WGS 1984 datum 3. <0.01 = below detection limit

Solwara 14:

Solwara 14 occurs approximately 2km SSW of Solwara 10 on the central Manus Spreading Centre (Figure 1). The system comprises two sub-parallel NE trending lenses of strong sulphide development, each slightly more than 150 metres in strike (Figure 4). A total of 14 sulphide samples were collected from the two systems, with maximum XRF results of 17.7 % Cu and 41.5% Zn (Refer to Table 3).

Table 3: Solwara 14 XRF Analysis Results (sulphide samples)

Solwara14			XRF (avg %¹)
Sample No	Sample Type	Weight (g)	Cu	Zn	Pb	Easting²	Northing²	Depth²	Lithology
22583	CHIMNEY-ROV	1000	2.4	14.6	<LOD	177326	9633105	-2238	Massive Sulphide
22585	CHIMNEY-ROV	2100	1.1	11.4	<LOD	177328	9633098	-2237	Massive Sulphide
22586	CHIMNEY-ROV	4620	17.7	5.8	<LOD	177072	9633120	-2244	Massive Sulphide
22587	CHIMNEY-ROV	2670	1.7	13.6	<LOD	177390	9633178	-2243	Massive Sulphide
22588	CHIMNEY-ROV	3065	2.4	16.1	<LOD	177401	9633220	-2243	Massive Sulphide
22590	CHIMNEY-ROV	3245	2.3	18.4	<LOD	177359	9633168	-2246	Massive Sulphide
22591	CHIMNEY-ROV	5097	2.4	27.1	<LOD	177337	9633144	-2242	Massive Sulphide
22592	CHIMNEY-ROV	3966	1.3	14.5	<LOD	177331	9633122	-2238	Massive Sulphide
22594	CHIMNEY-ROV	1102	2.0	30.1	<LOD	177057	9633141	-2242	Massive Sulphide
22595	CHIMNEY-ROV	4895	2.7	17.8	<LOD	177063	9633142	-2240	Massive Sulphide
22597	CHIMNEY-ROV	6175	16.5	13.9	<LOD	177046	9633088	-2244	Massive Sulphide
22598	CHIMNEY-ROV	2870	0.8	27.4	<LOD	177015	9633059	-2247	Massive Sulphide
22599	CHIMNEY-ROV	5038	0.7	41.5	<LOD	176995	9633034	-2244	Massive Sulphide
22601	CHIMNEY-ROV	5209	1.7	23.7	0.2	177082	9633170	-2248	Massive Sulphide
		Minimum	0.7	5.8	<LOD
		Maximum	17.7	41.5	0.2
		Average	4.0	19.7	0.0
*1. Average of 10 analyses per sub-sample using hand-held XRF. 2. Coordinates projected as UTM zone 56 south using a WGS 1984 datum 3. <LOD = below detection limit**

Solwara 15:

Solwara 15 occurs approximately 5 km SSW of Solwara 10 within the central Manus Spreading Centre (Figure 1). The system comprises a cluster of small, generally NE trending/elongated chimney occurrences scattered along about 1km of the main spreading ridge axis (Figure 5). No samples were recovered from this occurrence due to operational issues.

Solwara 16:

Solwara 16 occurs approximately 20km SSW of Solwara 10 in the SW portion of the Manus Spreading Centre (Figure 1). The system comprises sulphide occurrences, algal mats and hydrothermal indicators along an approximate 4km NE strike (Figure 6). Six samples were recovered and recorded maximum XRF results of 5.7% Cu and 24.3% Zn (refer to Table 4).

Table 4: Solwara 16 XRF Results (sulphide samples)

Solwara16			XRF (avg %¹)
Sample No	Sample Type	Weight (g)	Cu	Zn	Pb	Easting²	Northing²	Depth²	Lithology
22602	CHIMNEY-ROV	1420	2.1	18.6	<LOD	830088	9619519	-2162	Massive Sulphide
22603	CHIMNEY-ROV	894	5.7	20.5	<LOD	830099	9619505	-2147	Massive Sulphide
22604	CHIMNEY-ROV	3070	0.9	17.2	<LOD	830124	9619542	-2149	Massive Sulphide
22605	CHIMNEY-ROV	2319	1.0	24.3	<LOD	830095	9619634	-2159	Massive Sulphide
22607	CHIMNEY-ROV	1276	0.7	23.9	<LOD	829893	9619433	-2163	Massive Sulphide
22608	CHIMNEY-ROV	1425	1.8	18.9	<LOD	829946	9619369	-2160	Massive Sulphide
		Minimum	0.7	17.2	<LOD
		Maximum	5.7	24.3	0.1
		Average	2.0	20.6	0.0
*1. Average of 10 analyses per sub-sample using hand-held XRF. 2. Coordinates projected as UTM zone 56 south using a WGS 1984 datum 3. <LOD = below detection limit**

Solwara 17:

Solwara 17 occurs within the older Willaumez Spreading Centre approximately 60km NE of Solwara 11. The system comprises a 110m by 60m zone of "oxidized" outcropping sulphides and extensive algal mats and hydrothermal oxide coatings in relatively shallow waters (around 450m). XRF analysis suggests the samples collected from the system outcropping at surface are close to the detection limit of the portable Niton XRF machine (Refer to Table 5).

Table 5: Solwara 17 XRF Results (sulphide samples)

Solwara17			XRF (avg %¹)
Sample No	Sample Type	Weight (g)	Cu	Zn	Pb	Easting²	Northing²	Depth²	Lithology
22614	CHIMNEY-ROV	587	0.5	0.2	0.8	558688	9664152	-528	Semi-massive Sulphide
22615	CHIMNEY-ROV		0.5	0.5	0.4	558717	9664138	-535	Semi-massive Sulphide
22617	CHIMNEY-ROV	781	0.4	<LOD	0.3	558730	9664126	-533	Semi-massive Sulphide
		Minimum	0.4	<LOD	0.3
		Maximum	0.5	0.5	0.8
		Average	0.5	0.2	0.5
	*1. Average of 10 analyses per sub-sample using hand-held XRF. 2. Coordinates projected as UTM zone 55 south using a WGS 1984 datum 3. <LOD = below detection limit**

Solwara 18:

Solwara 18 also occurs within the older Willaumez Spreading Centre, approximately 20km NNE of Solwara 11. The system comprises east-west elongated chimney clusters scattered over about 80m of strike (Figure 8), hosted within a broader "footprint" of hydrothermal indicators. XRF analyses from two samples collected returned values up to a maximum of 1.1 % Cu and 14.1% Zn (Refer to Table 6).

Table 6: Solwara 18 XRF Results (sulphide samples)

Solwara18			XRF (avg ¹)
Sample No	Sample Type	Weight (g)	Cu	Zn	Pb	Easting²	Northing²	Depth²	Lithology
22618	CHIMNEY-ROV	2980	1.1	14.1	0.6	526570	9660001	-1308	Semi-massive Sulphide
22619	CHIMNEY-ROV	2995	0.8	7.8	0.5	526600	9659998	-1308	Semi-massive Sulphide
		Minimum	0.8	7.8	0.5
		Maximum	1.1	14.1	0.6
		Average	1.0	10.9	0.6
	*1. Average of 10 analyses per sub-sample using hand-held XRF. 2. Coordinates projected as UTM zone 55 south using a WGS 1984 datum 3. <LOD = below detection limit**

Solwara 19:

Solwara 19 occurs within the Sherburne Rifts region of the central Bismarck Sea approximately 150km WSW of Solwara 10. The system defined comprises a northerly trending zone of barite chimneys outcropping for approximately 110m (Figure 9), situated on a mound ESE of a large "old" caldera system. The sample collected did not contain significant base metals under XRF analysis. Analysis for precious metals is pending.

Table 7: Solwara 19 XRF Results (barite samples)

Solwara19

XRF (avg %¹)

Sample No

Sample Type

Weight (g)

Easting²

Northing²

Depth²

Lithology

22650

CHIMNEY-ROV

1890

0.4

<LOD

695878

9594555

-1025

Barite Rich Precipitate

22651

CHIMNEY-ROV

180

0.4

<LOD

695891

9594804

-1039

Barite Rich Precipitate

Minimum

0.4

<LOD

Maximum

0.4

<LOD

Average

0.4

0.0

1. Average of 10 analyses per sub-sample using hand-held XRF*.
2. Coordinates projected as UTM zone 55 south using a WGS 1984 datum
3. <LOD = below detection limit

Solwara 11i:

Solwara 11i occurs as part of the Solwara 11 system, previously found by Teck Resources in 2008, in the Willaumez Spreading Centre. The Solwara 11 region comprises a minimum of nine known sulphide clusters, with additional outcrops of isolated sulphide, all within a general 2km by 2km area (Figure 10). The system defined at Solwara 11i comprises a generally EW trending zone of sulphide clusters. Maximum values returned from the two samples recovered were 1.2% Cu and 35.4 % Zn.

Table 8: Solwara 11i XRF results (sulphide samples)

Solwara11i			XRF (avg %¹)
Sample No	Sample Type	Weight (g)	Cu	Zn	Pb	Easting²	Northing²	Depth²	Lithology
22622	CHIMNEY-ROV	2150	0.9	35.4	1.2	520503	9650798	-1457	Massive Sulphide
22623	CHIMNEY-ROV	3160	1.2	20.4	0.2	520476	9650740	-1458	Massive Sulphide
		Minimum	0.9	20.4	0.3
		Maximum	1.2	35.4	1.2
		Average	1.0	27.9	0.7
	*1. Average of 10 analyses per sub-sample using hand-held XRF. 2. Coordinates projected as UTM zone 55 south using a WGS 1984 datum 3. <LOD = below detection limit**

Future Work

The 2009 exploration program generated a large parcel of geophysical and bathymetric data, as well as rock samples and maps which will drive the next round of resource drilling and evaluation in the Bismarck Sea. The results of this work will be reported in the Company's ongoing NI43-101 regulatory filings as and when the finished products become available. Final assay results for base metals and precious metals are pending for all samples other than those collected from Solwara 12 and 13.

Target Testing Procedure

Sulphide mineralisation at the various prospects was observed using a FCV3000 ROV during target testing traverses. The planned traverses were generally a series of parallel lines, nominally 200 or 300 metres apart. When chimney structures are located, using a combination of video and sonar apparatus, that area is mapped in greater detail with the ROV, and samples collected.

Sampling Procedure

Grab samples were collected from the seafloor using a manipulator arm mounted on the ROV. Chimney samples averaging 37 kg (from 5 kg to 70 kg) were placed in a separate sample cage for recovery to the ship. They were then processed on board. 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 FCV3000 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 are being 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.

* Note on results of indicative analyses from hand-held XRF, Niton XLT 592 instrument

A hand-held XRF instrument (Niton XLT 592) was used to obtain indications of the grade of materials recovered from the seafloor. It does not provide the accuracy required to report assays. The instrument is not calibrated using certified standards and the samples have not been crushed and prepared to minimise matrix effects, which may affect the accuracy of the analysis. However, a suite of eight standard samples were analysed for copper, zinc, lead and iron prior to use on the MV Fugro Solstice 2009 cruise. These results, together with past comparisons between the XRF analysis and assay results for similar samples, indicate the XRF tool is a reliable method for providing indicative results of the tenor of mineralisation, and provides valuable data for "real time" decision-making.

The Nitron XLT 592 analyser is used by Nautilus in a setting designed for sulphide-rich samples containing high metal contents >1%. Results have low precision and accuracy in samples with metal contents <1%.

Measurements by the hand-held XRF instrument are not assay results and do not measure gold or silver. Samples will be formally assayed by an ALS Group laboratory.

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

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