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Nautilus Minerals Inc

Thursday, August 30th, 2007

Nautilus Minerals Inc. announces the release of its unaudited consolidated financial results for the 2nd quarter ended June 30, 2007 together with Management’s Discussion and Analysis.
2nd Quarter 2007 Highlights:
– US$272 million in cash held on deposit with major banks.
– US$9.4 million invested during the quarter on the world’s largest commercial exploration program for high grade seafloor massive sulphide systems.
– Discovery of four new seafloor massive sulphide prospects (named Solwara 5, 6, 7 and 8) in the territorial waters of Papua New Guinea.
– Completion of fieldwork for the environmental baseline study on the Solwara 1 prospect.
– Appointment of Mr Farhad Moshiri as an independent director to the Board.
David Heydon, President and CEO, commented: “The June quarter has been very successful for the Company with important new discoveries and the continued exploration and mine planning activities for Solwara 1.”
“The loss reported this quarter of US$6.2 million is in line with our expectations and is a reflection of the investment and expense we are making as an exploration company in pre-development mode.”
“As we reported to the market on August 20, 2007, our cash – which stood at $272m at June 30, 2007 – is not invested in asset backed commercial paper but on deposit for periods of less than 90 days with leading banks.”

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