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Nautilus Minerals Inc.: Nautilus Maintains Strong Cash Position With $233 Million at End Q2 2009

^{Published on 2009-08-14 07:45:38, Last Modified on 2009-08-14 07:45:51 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2009) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") announces the release of its unaudited consolidated financial results for the second quarter ended June 30, 2009 together with Management's Discussion and Analysis. Nautilus will hold an investor update conference call before the end of August to provide details on progress in the year to date.

2nd Quarter 2009 Highlights:

- US$223.5 million (equivalent) in cash and cash equivalents held on deposit with major banks as at June 30, 2009

- Drilling discovers high grade zones near Solwara 1

- Operating cost estimates released

- Mining Warden's Hearing completed

- Exploration success continues with high grades in 2009 Tongan exploration

Stephen Rogers, Nautilus' CEO, commented: "During the second quarter we have maintained appropriate expenditure controls to preserve our strong cash position. We continue to make progress with the selection process for a production support vessel. Our Tongan exploration results in the first half of the year have been positive and we expect to build on this over the coming months in Papua New Guinea."

The Company's Financial Statements, Management's Discussion and Analysis are available from the Company's website, [ www.nautilusminerals.com ] and SEDAR, [ www.sedar.com ].

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for gold and copper 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, Teck (6.8%) and Anglo American (11.1%). 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 (Cypress) Limited.

Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.