Nautilus Minerals Inc. - Tenements

Exploration

SMS History 2007 Programs 2008 Programs Tenements

Recent Updates

14-Nov-08 - Completion of Anglo American Transaction (more...)
12-Nov-08 - Nautilus Minerals Announces US$266 Million at September 30, 2008 (more...)
06-Nov-08 - Nautilus Minerals Submits Environmental Impact Statement to Papua New Guinea Government (more...)
09-Jul-08 - Environment Quarter 2 2008 Solwara 1 Environmental Fact Sheet (more...)

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Nautilus maintained its momentum in staking new ground. At the end of 2007 Nautilus had approximately 154,000 km2 of granted tenements, and approximately 210,000 km2 of applications for tenements in the territorial waters and EEZ of Papua New Guinea, Tonga, Solomon Islands, Fiji and New Zealand, for a total area of 365,000 km2.

Teck Cominco Limited (Teck Cominco) (December 7, 2006) has the option to participate and fund exploration on a number of Nautilus tenements (December 20, 2007) in PNG, Fiji, and Tonga. As part of the agreement, Teck Cominco is currently executing an exploration program on Nautilus's tenements.

Papua New Guinea (PNG) Tenements

As of March 31, 2008 Nautilus had been granted 33 exploration licences and has a further 57 tenements in applications, in the Bismarck and Solomon Seas, encompassing some 205,000 km2 in area. Teck Cominco has the option to utilise the US$12 million option payment from the recent early exercise of Nautilus options, to conduct and manage a ship based exploration program in 2008 in PNG*.

*Excluded from the Areas are the Solwara 1 to 8 projects, a 17,500 km2 tenement package in PNG and exploration licences and applications in Tonga and Fiji applied for before October 20, 2006 which remains 100% owned by Nautilus.

TONGA Tenements

As of March 31, 2008, Nautilus had been granted 16 offshore exploration licences covering 78,977 km2, being an area containing most known prospects within the 1887 Proclamation Area of the Kingdom of Tonga in the western Pacific. The exploration licences granted in Tonga cover a strike of over 900 kms of highly prospective geology known to contain Seafloor Massive Sulphide (SMS) occurrences. Nine of the 16 granted titles in Tonga (Core Titles) licences are 100% owned by Nautilus with the other seven Tongan licences subject to an option by Teck Cominco to enter into a joint venture.

SOLOMON ISLANDS Tenements

As of March 31, 2008 Nautilus had been granted 14 tenements covering 10,641 km2 in the Exclusive Economic Zone (EEZ) of the Solomon Islands, continuing the Company's tenement holding in the highly prospective Woodlark Basin to the east of PNG. The licences granted in the Solomon Islands are an extension of our highly prospective Woodlark Basin tenements to the east of PNG. All of the Solomon Island licences are 100% owned by Nautilus.

FIJI Tenements

As of March 31, 2008 Nautilus has applied for 9 tenements covering 18,341 km2 in the EEZ of Fiji.

NEW ZEALAND Tenements

As of March 31, 2008 Nautilus has applied for 1 tenement covering 48,200 km2 in New Zealand's EEZ.