UNDERSEA MINING VENTURE FINDS COPPER OFF PNG

Nautilus Minerals Inc. announces find at Toronto exchange

By Frank Asaeli

PORT MORESBY, Papua New Guinea (The National, Feb. 27, 2008) - Nautilus Minerals Inc has provided evidence that its Solwara 1 material is a simple ore that should produce a commercial grade copper concentrate with low impurity levels.

Nautilus announced its preliminary results on the Toronto Stock Exchange (TSX) last week from its first phase mineralogical and metallurgical investigations of ore from a representative 1.2 ton drill core sample recovered during drilling campaign at the Company’s Solwara 1 project, located in the territorial waters of Papua New Guinea last year.

The company also released earlier this month the world’s first NI 43-101 compliant resource report compiled by Golder Associates Pty Ltd for a seafloor massive sulphide (SMS) system at Solwara 1 prospect.

The mineralogical work was carried out by G&T Metallurgical Services of Canada (G&T) on composite samples recovered from Solwara 1.

Nautilus’ chief executive David Heydon said the mineralogical program conducted at G&T and the initial phase of metallurgical work carried out by AMMTEC of Australia.

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