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).
