Nautilus amends funding mandate

TORONTO, May 14, 2018 (GLOBE NEWSWIRE) -- Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF) (Nasdaq Intl Designation) (the "Company" or "Nautilus") announces that it has entered into an amending agreement with M. Horn & Co. Ltd. (the "Advisor") pursuant to which the Advisor will provide the services under the existing funding mandate agreement on a non-exclusive basis. Previously the Advisor was engaged on an exclusive basis (see news release dated January 8, 2018). The Company believes that a non-exclusive engagement will provide the Company with more flexibility and options as it continues to seek the remaining project financing required to complete the development of the Solwara 1 project.

Under the amended funding mandate, the Advisor will continue to be entitled to the fees payable under the existing mandate on financings introduced to the Company by the Advisor during the term of the mandate. The Advisor will also be entitled to a fee equal to 1% of the amount of financings closed during the term of the mandate with advisors not introduced to the Company by the Advisor. The term of the mandate expires on January 8, 2019, unless otherwise agreed between the Company and the Advisor.

Efforts to secure project financing are ongoing and the Company is in active discussions with various third parties and financial advisors as the Company considers numerous financing structures and alternatives.

The Company will provide further updates as circumstances warrant.

For more information please refer to www.nautilusminerals.com or contact:

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

The TSX does not accept 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 the Company's funding requirements and the development of the Solwara 1 Project. We have made numerous assumptions about such statements, including  assumptions  relating  to  the Company’s funding requirements, project funding, and 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.  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 and other risks relating  to  the  Company's  business  and  plans  for  development  of  the  Solwara  1  Project.  Risks related to continuing the Company's operations and advancing the development of the Solwara 1 Project include the risk that the Company will be unable to obtain at all or on acceptable terms, and within the timeframes required, the remaining financings necessary to fund completion of the build, testing and deployment of the Company's seafloor production system; that the Company will be unable to rectify or arrange for the rectification of the default under the shipbuilding contract for the construction of the production support vessel; and that agreements with third party contractors for building slots within certain timeframes are not secured as required. As  the  Company  has  not  completed  a prefeasibility study or feasibility study  in  respect  of  the  Solwara  1  Project,  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. 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. 

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 highly prospective exploration acreage in the western Pacific (granted and under application), as well as in international waters in the Central Pacific.

A Canadian registered company, Nautilus is listed on the TSX:NUS stock exchange and is also a member of the Nasdaq International Designation program. 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 30.4% interest and Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 19.2% holding (each on a non-diluted basis, excluding loan shares outstanding under the Company’s share loan plan).