Nautilus Minerals Inc.: Further Update on Dispute Process with State of PNG

 
TIDMNUS 
 
Nautilus Minerals Inc.: Further Update on Dispute Process with State of PNG 
FOR:  NAUTILUS MINERALS INC. 
 
TSX SYMBOL:  NUS 
OTCQX SYMBOL:  NUSMF 
AIM SYMBOL:  NUS 
 
June 20, 2012 
 
Nautilus Minerals Inc.: Further Update on Dispute Process with State of PNG 
 
TORONTO,   ONTARIO--(Marketwire   -   June   20,   2012)   -  Nautilus   Minerals   Inc.   ("Company"   or   "Nautilus") 
(TSX:NUS)(OTCQX:NUSMF)(AIM:NUS) announces that the Independent State of Papua New Guinea  (the  "State")  has  issued  a 
Notice of Arbitration in relation to the dispute which has arisen under the Agreement between the parties dated 29 March 
2011. 
 
Following the initiation of the dispute resolution process by the Company on June 1, 2012 and subsequent meetings between the 
parties  (see links section for full press releases) the Company had understood the State wanted to resolve the dispute, 
particularly  in  light of a letter to the Company from the Honourable Peter O'Neill CMG MP, the Prime Minister  of  the 
State,  dated  June 6, 2012. In that letter the Prime Minister outlined a number of key principles to  be  reflected  in 
relation to the joint venture for the Solwara 1 Project (the "Project"). Nautilus considered this to be a suitable basis 
for continuation of the discussions in an attempt to resolve the dispute. 
 
The State has now issued a Notice of Arbitration to the Company which asserts that Nautilus has not met certain obligations on 
which  completion  of  the  transactions contemplated by the Agreement is dependent,  that  Nautilus  has  breached  the 
Agreement  and  that  the  State  is entitled to terminate the Agreement. Nautilus has and  continues  to  refute  these 
assertions and maintains that it is the State who has breached the Agreement, not Nautilus. 
 
As previously disclosed, under the Agreement the State's nominee (a subsidiary of Petromin PNG Holdings Limited) must pay 
(among  other  amounts) its share of costs incurred in the development of the Project up to completion  to  acquire  its 
Project  interest (see links section for full press release). Unless and until the dispute is resolved, completion  will 
be  delayed or may not occur and Nautilus must continue to carry these costs. This may lead to Nautilus needing to  slow 
or  defer  the build program for Project equipment, which would have consequential impacts on the scheduled commencement 
of operations and overall Project costs. 
 
Nautilus will continue to attempt to resolve the dispute with the State in an effort to avoid a costly arbitration process. On 
completion of its review of the Notice and further meetings in PNG, Nautilus will provide further details of  its  plans 
by Friday, June 29, 2012. 
 
Links 
 
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=449316&_Type=News-Releases&_Title=PNG-Government-Confirms-In 
vestment-in-Solwara-1 
 
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=528424&_Type=News-Releases&_Title=Nautilus-dispute-with-the- 
State-of-PNG 
 
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=531617&_Type=News-Releases&_Title=Nautilus-continues-discuss 
ions-to-resolve-dispute-with-State-of-PNG 
 
Certain of the statements made in this news release may contain forward-looking statements within the meaning of the United 
States  Securities  Exchange  Act  of 1934 and forward-looking information within the  meaning  of  applicable  Canadian 
securities law. Forward-looking statements and forward-looking information include, but are not limited to statements or 
information with respect to the resolution of Nautilus' dispute with the State, the completion of the agreement and  the 
payment to Nautilus of the amounts provided for thereunder. We have made numerous assumptions about the material forward- 
looking  statements  and  information  contained  herein including  good  faith  negotiation  by  the  State,  a  shared 
determination  to resolve the dispute and the State's ability to pay the amounts due to Nautilus under  their  agreement 
with respect to Solwara 1. Even though our management believes the assumptions made and the expectations represented  by 
such  statements  or  information  are  reasonable, there can be no assurance  that  the  forward-looking  statement  or 
information  will  prove to be accurate. Forward-looking statements and information by their nature  involve  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 statements or information. Such risks,  uncertainties  and 
other factors include, among others, the risk that negotiations with the State are not productive. Should one or more of 
these  risks,  uncertainties  or  other factors materialize, or should underlying assumptions  prove  incorrect,  actual 
results  may  vary  materially  from those described in forward-looking statements and  information.  Although  we  have 
attempted  to  identify  factors that would cause actual results to differ materially from those described  in  forward- 
looking statements and information, there may be other factors that cause actual results, performances, achievements  or 
events  not to be as anticipated, estimated or intended. Also, many of the factors are beyond our control. There can  be 
no  assurance  that  forward-looking statements or information will prove to be accurate, as actual results  and  future 
events  could  differ  materially from those anticipated in such statements. Accordingly  you  should  not  place  undue 
reliance  on  forward-looking statements or information. 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 and is developing 
its  first  project at Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to  produce  copper, 
gold and silver. The company has been granted all necessary environmental and mining permits. 
 
Nautilus also holds approximately 600,000 km2 of highly prospective exploration acreage in the western Pacific; in PNG, the 
Solomon Islands, Fiji, Vanuatu and Tonga, as well as in international waters in the eastern Pacific. 
 
A Canadian registered company, Nautilus is listed on the TSX:NUS and AIM:NUS stock exchanges and OTCQX: NUSMF. Its corporate 
office  is in Brisbane, Australia. Its major shareholders include Metalloinvest, the largest iron ore producer in Europe 
and  the  CIS, which has a 21% holding, global mining group Anglo American, which holds an 11% interest and MB Holdings, 
an Oman based group with interests in mining, oil & gas, which holds a 9.98% interest. 
 
 
-30- 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Nautilus Minerals Inc. (Toronto) 
Investor Relations 
[phone] 
[e-mail] 
www.nautilusminerals.com 
 
OR 
 
Numis Securities Limited 
Alastair Stratton/Stuart Skinner 
Nominated adviser 
+ 44(0) 20 7260 1000 
 
OR 
 
Numis Securities Limited 
James Black 
Corporate broking 
+ 44(0) 20 7260 1000 
 
OR 
 
Dahlman Rose & Co., LLC 
Christopher R. Weekes 
Direct: [phone] 
 
Neither  the TSX, London Stock Exchange, or the OTCQX accepts responsibility for the adequacy or accuracy of this  press 
release. 
 
 
 
 
Nautilus Minerals Inc.