Nautilus Minerals Discovers Five High Grade Copper-Zinc Systems

TORONTO, ONTARIO--(Marketwire - Jan. 14, 2010) - Nautilus Minerals Inc. (TSX:NUS - News; AIM:NUS) (the "Company" or "Nautilus") is pleased to announce the discovery of five high grade Seafloor Massive Sulphide ("SMS") systems, designated Solwara 12, 13, 14, 16, and 18, during its 2009 exploration campaign. Copper grades up to 32.4% and zinc grades up to 52.6% were reported from grab samples collected from these discoveries using a hand held x-ray fluorescence ("XRF") meter. Final assays on samples collected from Solwara 12 and 13, have also been received, and indicate gold up to 39.7 g/t and silver up to 682 g/t. Additionally, the company has made a further high grade discovery at Solwara 11 (11i) in the Western Bismarck Sea.

Stephen Rogers, Nautilus' CEO, commented: "Further success in the Bismarck Sea, PNG, combined with good assay results clearly highlights this region as a significant SMS domain. Our work is now focussed on the evaluation and ranking of the new systems in preparation for an intensive drilling campaign in 2010."

The exploration vessel MV Fugro Solstice was successfully demobilised in Singapore on 12 January 2010 after completing a 132 day program of water geochemistry studies, geophysics, remotely operated vehicle ("ROV") mapping and ROV sampling. A total of 18 SMS systems have now been defined within the Bismarck Sea, along with numerous zones of hot water venting, smaller chimney fields, and barite-rich zones.

Final assay results, including gold (Au) and silver (Ag), on samples collected from Solwara 12 and 13, which were previously reported on 4 November 2009 (http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=370349) indicate high precious metal grades, which is consistent with other SMS systems in the Bismarck Sea. Assays up to a maximum of 39.70 g/t Au and 682 g/t Ag were recorded from the 10 sulphide samples collected at Solwara 12, and a maximum of 9.23 g/t Au and 1,550 g/t Ag were recorded from the seven samples collected at Solwara 13.

A further two lower grade systems (Solwara 17 and 19) were also discovered in the Bismarck Sea and one new system (Solwara 15) where samples were not taken due to an ROV breakdown. All three systems will require further investigation. Nautilus considers the presence of hydrothermal mineralisation and alteration at these sites encouraging, especially given that the two lower grade systems occur in the older part of the Bismarck Sea. Additional exploration work is planned to test this potential.