Nautilus Minerals Officer Update
January 17 2018 - 6:00AM
Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF) (the
"Company" or
"Nautilus")
announces that Mr Adam Wright, VP PNG Operations has resigned
from the Company, effective 26th February 2018.
Nautilus’ CEO Mike Johnston commented, “Over the
past three and a half years, Adam has played a significant role in
the key areas of project management, stakeholder and government
engagement and corporate social responsibility. We would like to
thank him for the valuable contributions he has made to Nautilus’
progress to date and wish him well in his future
endeavours.”
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, expectations to receive
additional bridge loans and enter into a credit facility, and the
continued 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 Vehicle (as announced on 11 December 2017) 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.
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 29.3% interest and Metalloinvest, the largest iron ore
producer in Europe and the CIS, which has a 18.5% holding (each on
a non-diluted basis, excluding loan shares outstanding under the
Company’s share loan plan).