Nautilus 2009 Annual Results and Conference Call

TORONTO, ONTARIO--(Marketwire - March 16, 2010) - Nautilus Minerals Inc. (TSX:NUS - News; AIM:NUS) (the "Company" or "Nautilus") announces the release of its audited consolidated financial statements for the year ending December 31, 2009, reported under Canadian GAAP, together with Management's Discussion and Analysis, its Annual Information Form and an updated Technical Report.

2009 Highlights

- US$209.3 million (equivalent) in cash and cash equivalents held on deposit with major banks as at December 31, 2009

- Granted Environmental Permit from Papua New Guinea ("PNG") authorities

- Exploration success in PNG with eight new discoveries

- High grade SMS systems discovered during 2009 Tongan exploration cruise

- Port capacity at Rabaul secured

Stephen Rogers, Nautilus' CEO, commented: "Nautilus committed to maintain its strong cash position in 2009. We met this commitment and were able to significantly advance Solwara 1 engineering and permitting. Our position as the leading explorer for seafloor massive sulphide ("SMS") systems was maintained through our highly successful 2009 exploration programs. The Company continues to advance discussions with potential joint venture partners for its Solwara 1 Project."

The Company's Annual Information Form, audited consolidated financial statements and Management's Discussion and Analysis for the year ending December 31, 2009 and a Technical Report as at December 31, 2009 have been filed on SEDAR http://www.sedar.com/ and are available from the Company's website, www.nautilusminerals.com/s/Investors-Financials.asp and SEDAR www.sedar.com. The Technical Report was prepared by Phil Jankowski of SRK Consulting (Australasia) Pty Ltd., a qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Conference Call Details

A Conference Call and Webcast will be held on Wednesday March 17, 2010 at 9:00 a.m. EDT (Toronto), 1:00 p.m. GMT (London).

Webcast link: http://media3.marketwire.com/r/eventdetails

Dial-in numbers:

International Dial In: +61 2 8524 6650

Australia: 1800 148 258

Canada: 1 866 837 4489

United Kingdom: 08 000 569 662

United States of America: 1 866 586 2813

Please quote Conference ID No: 63158616

If your country dial-in number is not included here please email investor@nautilusminerals.com.

A presentation to support the conference call will be posted on www.nautilusminerals.com for download by 8:30 a.m. EDT (Toronto) on March 17, 2010.

About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for polymetallic 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 Anglo American (11.1%), Teck Resources (6.8%) and 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 (Cyprus) Limited.

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

Investor Relations
Nautilus Minerals Inc. (Toronto)
+1 (416) 551 1100
investor@nautilusminerals.com

+61 (7) 3318 5555
Australian Project Office
http://www.nautilusminerals.com/

John Harrison
Numis Securities Limited
Nominated adviser
+ 44(0) 20 7260 1000

James Black
Numis Securities Limited
Corporate broking
+ 44(0) 20 7260 1000