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| Press Release

Nautilus Minerals - Resignation of Mark P. M. Horn as a Director

Toronto, Oct. 05, 2017 (GLOBE NEWSWIRE) -- Nautilus Minerals Inc. (TSX:NUS)(OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus") announces that Mark P. M. Horn has resigned as a director of Nautilus. 

Mark P. M. Horn has advised the Company that he will lead Deep Sea Mining Finance Ltd. ("DSMF"), a recently formed joint-venture between the two major shareholders of Nautilus, Metalloinvest Holding (Cyprus) Limited ("Metalloinvest") and MB Holding Company LLC ("MB Holding").

DSMF and Nautilus are in discussions concerning the potential engagement of DSMF as Nautilus' financial advisor to implement a financing strategy for Nautilus, by leveraging the international expertise and financial relationships of Nautilus' two major shareholders. Russell Debney, a director of Nautilus who is independent of each of DSMF, Metalloinvest and MB Holding, is negotiating or directing the negotiation of any such transaction on behalf of Nautilus.

Nautilus needs to raise approximately US$41 million before the end of 2017, and an additional approximately US$270 million is required in order to complete the build and deployment of the seafloor production system to be utilized at the Solwara 1 Project by the Company and its joint venture partner (as to 15%), the Independent State of Papua New Guinea’s nominee, in early 2019.

Mark P. M. Horn stated on behalf of DSMF: "Nautilus is a world leader in seafloor mining technology. This is a very exciting time in the mining industry, as deep-sea mining is on the verge of becoming a reality. Nautilus' two largest shareholders are very pleased to be playing an important part in the development of this new industry."

The Company is currently seeking the appointment of a new independent director and is in active discussions with various candidates.

About Mark Horn, MB Holding and Metalloinvest

Mark P. M. Horn has represented Metalloinvest on the Board of Nautilus since September 2013. Since 1987, he has worked as an international Fund Manager, Financial Analyst and Corporate Financier. Mark started his career at the Co-operative Insurance Society, then moved to Globe Investment Trust, before joining Rockefeller and Co. He subsequently worked for Kleinwort Benson Investment Management, before becoming Head of Research at Canaccord Capital (Europe). He holds an ALM, (Harvard University, USA); BA, BA (Hons) (First Class), MA, (Rhodes University, South Africa); BSc, BSc (Hons) (Geosciences), B.Eng (Hons), (Open University, UK); LLB (Hons), LLM, MBA (Banking) (London University, UK); Dip.B.Admin (Manchester Business School, UK). He has been called to the Bar of England and Wales as a Barrister of the Honourable Society of Lincoln’s Inn.

Mawarid Mining LLC of Oman ("MML") holds 29.3% of the current outstanding shares of Nautilus through MML's wholly owned subsidiary Mawarid Offshore Mining Limited ("MOML"). MML is a wholly owned mining and mineral business vertical of MB Holding and is actively engaged in exploration and development of concessions in the Sultanate of Oman, Saudi Arabia, Namibia, Tanzania and Rwanda. MB Holding is a multinational corporation with operations spread across the globe in the Middle East, Europe, Africa, Asia, Asia-Pacific. The dynamic group which started operations in 1982 has diversified businesses including integrated drilling & oilfield services, exploration & production of oil & gas, marine, manufacturing & engineering services, mineral & mining and investments. MB Holding employs more than 4,000 employees from over 54 nationalities who are committed to achieving its vision and mission.

Metalloinvest currently has a 18.5% interest in Nautilus. Metalloinvest is wholly owned by USM Holdings ("USM"), a diversified international holding company with significant interests across the metals and mining, telecoms and internet sectors. The main shareholders of USM are Alisher Usmanov, Vladimir Skoch and Farhad Moshiri. USM’s assets include Metalloinvest, the largest mining company in Russia and the CIS and the leading global manufacturer of hot briquetted iron, Baikal Mining Company, which owns the largest copper reserves in Russia, MegaFon, a major telecommunications operator in Russia, and Mail.Ru Group, the Russian internet leader and owner of the country’s most popular social networks VKontakte and Odnoklassniki. The group is also a prominent global investor in the digital space and is a major investor in one of the key players in the global esports market. Furthermore, it manages a number of other industry-leading businesses including UTH Russia, one of the country’s largest media and entertainment groups with a unique portfolio of popular national TV channels in Russia and Kazakhstan and one of the leading Russian property development company.

All information in this news release concerning Mark P. M. Horn, MB Holding and Metalloinvest has been provided by each of those respective parties.

For more information please refer to or contact:

Investor Relations
Nautilus Minerals Inc. (Toronto)
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 financing requirements, a potential transaction with DSMF 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 and that agreements with third party contractors for building slots within certain timeframes are not secured as required. As  the  Company  has  not  completed  an  economic  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  contained  in  the  Company's  reports  filed  with  the  securities  regulatory  authorities  in  Canada. 

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