Nautilus Minerals Recommences Exploration Programs
TORONTO, ONTARIO--(Marketwired - Apr 7, 2015) - Nautilus Minerals Inc. (TSX:NUS)(OTCQX:NUSMF) (the "Company" or "Nautilus") announces it has signed a contract with Gardline CGG Pte Ltd ("Gardline CGG") to provide exploration services for Nautilus' 2015 program in the Solomon Islands. The vessel MV Duke will be used to generate targets to expand Nautilus' Seafloor Massive Sulphide ("SMS") prospect inventory within its 100% owned Solomon Islands exploration licenses.
Mike Johnston, Nautilus' CEO, commented, "we are excited to be back on the water this year, focused on adding to our high grade SMS prospect inventory by applying the successful high tech exploration techniques we have been refining since 2006. This is the second time we have been supported by Gardline in our exploration efforts and we look forward to continuing our relationship with them."
The contract with Gardline CGG is for 43 days of services, mobilising from Brisbane, Australia on or about April 25, 2015. The program will define SMS targets using efficient multibeam echo sounder and plume hunting techniques. Plume hunting is a regional geochemical technique involving the discovery of metal rich plumes of material that are ejected into the water column from prospective areas, by natural geological processes. The primary objective of this program is to discover further mineralised systems to support the Company's business model. Amongst its many anticipated advantages, seafloor resource production will allow the aggregation of resources from multiple mineralised systems without the need for significant additional capital.
The MV Duke vessel, which will be used for this program is a 67 metre long, 2031 gross tonne, Survey Vessel, originally built in 1983, and then extensively refitted in 1998 by A/S Vaagen Vert, Norway. The vessel is equipped with a hull mounted Kongsberg EM302 multibeam system, a state of the art seafloor mapping system that provides some of the highest quality seafloor mapping data available.
About Gardline CGG
Gardline CGG Pte Ltd is a Joint Venture formed between Gardline and CGG. Drawing from the experience and expertise of each of its parent companies, Gardline CGG offers a wide range of fully integrated, multidisciplinary marine site survey and 2D and 3D exploration seismic survey capabilities. Headquartered in Singapore to primarily service the Asia Pacific region, Gardline CGG is also able to offer its unique range of multi-disciplinary capability for world-wide deployments.
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Figure 1: http://www.nautilusminerals.com/i/photos/MVDuke.jpg
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Neither the TSX nor 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 information within the meaning of applicable securities laws, including statements with respect to adding to the Company's SMS prospect inventory and the anticipated advantages of seafloor resource production. We have made numerous assumptions about such statements, including that the Company's 2015 exploration program will proceed as planned and assumptions relating to the funding, completion and operation of the Company's seafloor production system. Even though our management believes the assumptions made and the expectations represented by such statements are reasonable, there can be no assurance that they will prove to be accurate. Forward-looking information by its nature involves 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 information. Key risks include the risk that the exploration work does not result in the expansion of the Company's prospect inventory. Please refer to our most recently filed Annual Information Form in respect of material assumptions and risks related to the prospects of extracting minerals from the seafloor, including the risk that there can be no assurance that the Company's production plans will, if fully funded and implemented, successfully demonstrate that seafloor resource production is commercially viable, and other risks set forth under "Risk Factors - Exploration, Development and Operating Risks" in the Annual Information Form. 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.
About Nautilus Minerals Inc.
Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.
Nautilus also holds approximately 420,000 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 stock exchange and trades on the OTCQX:NUSMF. Its corporate office is in Brisbane, Australia. Its major shareholders include MB Holding Company LLC, an Oman based group with interests in mining, oil & gas, which holds a 28.14% interest, Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 20.89% holding and global mining group Anglo American, which holds a 5.99% interest (each on a non-diluted basis, excluding loan shares outstanding under the Company's share loan plan).
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Investor Relations
Nautilus Minerals Inc. (Toronto)
investor@nautilusminerals.com
+1 (416) 551 1100
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Cowen and Company
599 Lexington Avenue
New York, NY 10022
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