| | Toronto Ontario, August 2, 2012 - Nautilus Minerals Inc. (TSX & AIM: NUS, OTCQX: NUSMF) (the "Company" or "Nautilus") announces the release of its unaudited consolidated financial results for the second quarter ended June 30, 2012 (the "Financial Statements") together with Management's Discussion and Analysis.
Q2 2012 Significant Events:
- Bismarck Exploration Program completed
- Signed landmark offtake agreement for Solwara 1
- Listed on OTCQX
- Dispute process and arbitration with the State of PNG
- Potential delay to Vessel build identified
- Solwara 1 Project build advances
- $87.1 million (equivalent) in cash and cash equivalents as at June 30, 2012
Q2 2012 Subsequent Event:
- Private placement of common shares to raise CAD$ 34 million
"We took a significant step forward this quarter with the signing of the landmark offtake agreement with Tongling," said Nautilus CEO Stephen Rogers. "Whilst we now expect some delay to the vessel construction program the seafloor production equipment build continues and we are working hard to minimise the overall impact to the production date."
"The CAD$34 million to be raised through the private placement will be used to continue the construction of key equipment."
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.
For more information please refer to www.nautilusminerals.com or contact:
Investor Relations
Nautilus Minerals Inc. (Toronto)
Email: investor@nautilusminerals.com
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, nor the OTCQX accepts responsibility for the adequacy or accuracy of this press release.
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 copper, gold and silver. The company has been granted all necessary environmental and mining permits.
Nautilus also holds approximately 600,000 km2 of highly prospective exploration acreage 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:NUS and AIM:NUS stock exchanges and OTCQX: NUSMF. Its corporate office is in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 21% holding, global mining group Anglo American, which holds an 11% interest and MB Holdings, an Oman based group with interests in mining, oil & gas, which holds a 9.98% interest. |
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