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TORONTO, ONTARIO--(Marketwire - Jan. 5, 2010) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") announces that the final Environmental Permit for the development of the Solwara 1 Project was received on December 29^th 2009 from the Department of Environment and Conservation (DEC) of Papua New Guinea for a term of 25 years, expiring in 2035. The Environmental Permit in Principle was issued in September 2009, as announced previously.

CEO Steve Rogers commented, "The Environmental Permit is the culmination of many years of work by Nautilus and the DEC and paves the way for processing of the Company's Mining Lease Application. The project team is working with the Government of PNG to complete the final stages of this process."

Regional Joint Venture

Nautilus continues advanced discussions with several parties in connection with a Regional Joint Venture covering some of Nautilus' tenements in the territorial waters of Papua New Guinea.

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 on AIM, and has among its largest shareholders two of the world's leading international resource companies, Anglo American (11.1%) and Teck Resources (6.8%). 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.