VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) ("Nautilus" or the "Company") announces the results of its Extraordinary General Meeting held today.
EGM results
The private placement to Epion Holdings Limited ("Epion") of 10,859,690 units (the "Units") at a price of C$3.60 per Unit (GBP1.78) for aggregate gross proceeds of C$39,094,884 (GBP19,372,170) (the "Placement") received disinterested shareholder approval at the meeting. The particulars of the Placement are set forth in the Company's Information Circular dated October 19, 2007.
David Heydon, Nautilus' CEO, commented: "With the recent exploration success at Solwara 1, we are keen to get back out on the water and develop a pipeline of projects. Ongoing exploration is the key to increasing shareholder value. This Placement allows us to maintain momentum and exploration at current levels for 2008 and 2009. The funds will also provide capital for potential development of new equipment following the success of the innovative electromagnetic tools and the robotic ROV drills used in 1,700 metre water depth at Solwara 1."
Shares held by Epion were not entitled to vote on the matter. Of the shares eligible to vote, 65,006,063 were represented at the meeting either in person or by proxy. 64,807,222 shares (99.69%) voted in favour of the Placement while 198,841 shares (0.31%) voted against the Placement. The Placement remains subject to acceptance of the Toronto Stock Exchange, but is expected to close by November 30, 2007. Following the completion of the Placement the Company's share capital will be:
Common and outstanding shares 142,815,640 Warrants 18,979,725 Options 9,235,656 Fully diluted 171,031,021
About Nautilus Minerals Inc.
Nautilus is the first company to commercially explore the ocean floor for gold and copper seafloor massive sulphide deposits and is positioned to become an emerging producer in 2010. The Company's main focus for 2008 is the Solwara 1 Project, which is located in the territorial waters of Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and on AIM, and has among its largest shareholders three of the world's largest international resource companies, including Epion (22.9%), Anglo American (5.8%) and Teck Cominco (5.3%).
FOR FURTHER INFORMATION PLEASE CONTACT:
Nautilus Minerals Inc. (Toronto)
Investor Relations
(416) 551-1100
Email: investor@nautilusminerals.com
Website: www.nautilusminerals.com
Australian Project Office
+61 (7) 3318 5555
Email: ceo@nautilusminerals.com
Numis Securities Limited (NOMAD)
John Harrison
+ 44(0) 20 7260 1000
Numis Securities Limited (NOMAD)
James Black
+ 44(0) 20 7260 1000
Conduit PR Ltd (UK Financial PR)
Arabella Hobbs/Charlie Geller
+ 44(0) 20 7429 6610/+44(0) 20 7429 6604
