TONGA’S SEABED A WEALTH OF VALUABLE MINERALS

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TONGA’S SEABED A WEALTH OF VALUABLE MINERALS Nautilus Minerals hopes to develop undersea resources

MELBOURNE, Australia (Radio Australia, June 16, 2009) – High concentrations of gold, silver, copper and zinc have been found in seafloor mineral deposits in Tonga.

The results were announced on Toronto Stock Exchange by Nautilus Minerals.

Nautilus minerals has exploration licences in a number of Pacific countries and hopes to become the first company in the world to commercially mine seafloor minerals.

The results from the first phase of Nautilus's 2009 exploration program in Tonga show 34 grams per tonne of gold and 185 grams per tonne of silver.

Nautilus CEO Steve Rogers say the results are consistent with those from its exploration areas in Papua New Guinea.

Late last year Nautilus was forced to delay its plans for mining in PNG.

Mr. Rogers says after a period of consolidation the company now looking for a mining vessel and plans to begin production in PNG by the end of 2011.

Radio Australia: www.abc.net.au/ra

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