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| ||January 11, 2012|
Nautilus Signs Contract For Eastern Pacific Exploration Tenements
| ||Vancouver, British Columbia, January 11, 2012 - Nautilus Minerals' Tongan wholly owned subsidiary, Tonga Offshore Mining Ltd ("TOML") today formally signed the agreement with the International Seabed Authority ("ISA") for exploration tenements in the Eastern Pacific granted in July 2011. (See Links section for full press release)|
The contract, signed during workshops in Kingston, Jamaica, gives TOML exclusive rights to conduct exploration activities in the Clarion Clipperton Zone, midway between Hawaii and Mexico, which holds major deposits of polymetallic nodules. These nodules are rich in copper, nickel, manganese and cobalt and are found at depths between 4500 and 6000 metres.
The formal grant of the exploration licence confirms TOML as one of the first private sector companies to be granted exploration territory in international waters.
Nautilus CEO Steve Rogers said the signing represented a milestone for deep sea exploration.
"This historic decision by the ISA demonstrates that we are entering a new stage in the development of the seafloor resources industry.
"With our first project, Solwara 1 in the Bismarck Sea, moving steadily towards production we will continue to work closely with the ISA and scientific community to develop this emerging industry as an important source of mineral resources for the future."
TOML has been granted approximately 75,000 km2 of prime exploration territory. The licence is for an initial period of 15 years. (See Links section for a map of the tenements)
Map of TOML's tenements: http://www.nautilusminerals.com/i/pdf/TOMLJuly2011.pdf
Nautilus awarded exploration tenements in Eastern Pacific:
For more information please refer www.nautilusminerals.com or contact:
Nautilus Minerals Inc. (Toronto)
Tel: +1 (416) 551 1100
Vice President Investor Relations and Communications
Tel: +61 (7) 3318 5544
Cell: +61 431 365 741
Numis Securities Limited
Nominated adviser: Stuart Skinner
Corporate broking: James Black
Tel: + 44(0) 20 7260 1000
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits and is developing its first project at Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce gold, copper and silver. The company has been granted all necessary environmental and mining permits.
Nautilus also holds approximately 600,000 square kms of highly prospective exploration acreage and tenements under application in the western Pacific; in PNG, the Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific.
A Canadian registered company, Nautilus is listed on the TSX and AIM stock exchanges and has its corporate office in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 21% holding, and global mining group Anglo American, which holds an 11% interest.
Neither the TSX nor the London Stock Exchange accepts responsibility for the adequacy or accuracy of this press release.
Certain of the statements made in this news release may contain forward-looking statements within the meaning of the United States Securities Exchange Act of 1934 and forward-looking information within the meaning of applicable Canadian securities law. Forward-looking statements and forward-looking information include, but are not limited to statements or information with respect to the mineral resources of the Company. The forward-looking statements and information contained herein include numerous assumptions. Please refer to the Company's most recently filed Annual Information Form in respect of material assumptions and risks relevant to forward looking information. Even though our management believes the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Forward-looking statements and information by their nature involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements or information. Such risks, uncertainties and other factors include, among others, the risk that the amount of metals contained in the Company's deposits may differ from estimates of resources. Should one or more of these risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements and information. Although we have attempted to identify factors that would cause actual results to differ materially from those described in forward-looking statements and information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also, many of the factors are beyond our control. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly you should not place undue reliance on forward-looking statements or information. Except as required by law, we do not expect to update forward-looking statements and information as conditions change and you are referred to the full discussion of the Company's business contained in the Company's reports filed with the securities regulatory authorities in Canada.
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