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| ||June 18, 2012|
Nautilus continues discussions to resolve dispute with State of PNG
| ||Toronto, Ontario, June 18, 2012 - Nautilus Minerals Inc. ("Company" or "Nautilus") announces that a number of meetings have taken place with the Independent State of Papua New Guinea (the State) over the last two weeks aimed at resolving the parties' dispute relating to the Company's Solwara 1 project and discussions will continue until a conclusion is reached.|
On June 1, 2012 the Company initiated the dispute resolution process under an agreement between Nautilus and the State signed in March 2011 (see links section for full press release). Since then, senior representatives of Nautilus have met with senior representatives of the State in order to resolve the dispute.
A further update will be provided as the matter progresses.
For more information please refer to www.nautilusminerals.com or contact:
Nautilus Minerals Inc. (Toronto)
Tel: +1 (416) 551 1100
Numis Securities Limited
Nominated adviser: Alastair Stratton/Stuart Skinner
Corporate broking: James Black
Tel: + 44(0) 20 7260 1000
Dahlman Rose & Co., LLC
Christopher R. Weekes
1301 Avenue of the America's
New York, NY 10019
Direct: +1 212 372 5766
Neither the TSX, London Stock Exchange, or the OTCQX 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 resolution of Nautilus' dispute with the State, the completion of the agreement and the payment to Nautilus of the amounts provided for thereunder. We have made numerous assumptions about the material forward-looking statements and information contained herein including good faith negotiation by the State, a shared determination to resolve the dispute and the State's ability to pay the amounts due to Nautilus under the agreement with respect to Solwara 1. 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 negotiations with Petromin are not produtive. 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 not to 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.
You can view the Next News Releases item: Wed Jun 20, 2012, Further Update on Dispute Process with State of PNG
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