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| ||August 10, 2010|
Nautilus Minerals Announces Financial Results for Q2 2010
| ||Toronto Ontario, August 10, 2010 - Nautilus Minerals Inc. (TSX & AIM: NUS) (the "Company" or "Nautilus") announces the release of its unaudited consolidated financial results for the second quarter ended June 30, 2010 (the "Financial Statements") together with Management's Discussion and Analysis.|
Second quarter 2010 highlights:
Stephen Rogers, Nautilus' CEO commented: "We are excited by the progress made in the first half of 2010. Design work is proceeding on the Seafloor Production Tools and preparations continue for the drilling program in Q4 2010. With US$185 million in cash and cash equivalents, we continue to maintain a strong financial position.
- US$185 million (equivalent) in cash and cash equivalents held on deposit with major banks as at June 30, 2010
- Contract signed with the TSMarine Group of Companies for 2010 drilling program in H2 2010
- Release of independently verified Offshore Production System Definition and Cost Study
- Issue of variation order to Soil Machine Dynamics ("SMD") valued at £19 million (US$28 million or C$29 million equivalent)
- Board strengthened with the recent appointment of Cynthia Thomas.
The Financial Statements and Management's Discussion and Analysis have been filed on www.sedar.com and are also available on the Company's website www.nautilusminerals.com/s/Investors-Financials.asp.
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:
Nautilus Minerals Inc. (Toronto)
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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