Nautilus Nautilus Minerals Terminates Equipment Build for Its Solwara 1 Project

 
TIDMNUS 
 
Nautilus Minerals Terminates Equipment Build for Its Solwara 1 Project 
FOR:  NAUTILUS MINERALS INC. 
 
TSX, AIM SYMBOL:  NUS 
OTCQX SYMBOL:  NUSMF 
 
November 13, 2012 
 
Nautilus Minerals Terminates Equipment Build for Its Solwara 1 Project 
 
TORONTO, ONTARIO--(Marketwire - Nov. 13, 2012) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS)(OTCQX:NUSMF) ("Company" or 
"Nautilus") announces it has decided to preserve its cash position by terminating the construction of the equipment for 
its Seafloor Production System. 
 
Nautilus announced on June 1, 2012 that it was in dispute with the Independent State of Papua New Guinea ("State") as to 
the parties' obligations to complete the Agreement entered into in March 2011 (see links section for full press 
releases). A further announcement was made on June 20, 2012 confirming that the State had issued a Notice of Arbitration 
to the Company. 
 
Nautilus considers that the State has a contractual obligation to pay an amount of approximately $23.5 million in 
respect of costs incurred in the development of the Solwara 1 Project up to January 2011, and to make pro-rata capital 
contributions in respect of subsequent Project development costs which, at the end of September 2012 totalled 
approximately $51.5 million (excluding interest). The State disputes that it is required to meet such obligations at 
this time. In order to continue the construction of the Seafloor Production System, Nautilus has been forced to carry 
the State's share of Project development costs to date. 
 
It has been Nautilus' preference to resolve the dispute with the State by agreement and with that aim Nautilus has taken 
steps to meet with senior representatives of the State, including discussions with National Executive Council Ministers. 
Unfortunately, to date, an agreed commercial resolution with the State has not been achieved and Nautilus believes the 
avenues for achieving such a resolution within the timeframe that Nautilus could reasonably continue to carry the total 
development costs for the Project have now been exhausted. Accordingly, in order to preserve capital, Management and the 
Board of Directors of Nautilus have decided to terminate construction of its Seafloor Production System. All of the 
relevant supplier agreements contain provisions for termination without penalty. The Company has also been forced to 
reduce staff numbers with approximately 60 positions to be made redundant. 
 
Nautilus' CEO, Mike Johnston, commented: "While terminating the equipment build for the Seafloor Production System and 
reducing staff numbers to this extent was a difficult decision, it was appropriate. Nautilus has a highly prospective 
ground position, which includes 19 identified prospects in Tonga, including the recent high grade discoveries in the NE 
Lau Basin and a 410 million tonne Inferred Mineral Resource in the Central Pacific (see links section for full press 
releases). Despite this setback, the Company remains committed to maximizing shareholder value by achieving its 
objective of developing the world's first commercial seafloor copper-gold project and launching the deep water seafloor 
resource production industry, whilst maintaining an environmentally and socially responsible approach." 
 
Terminating the equipment build for the Seafloor Production System includes discontinuing discussions regarding an 
alternative vessel and associated funding solution. This means there will be a considerable delay in any commencement of 
production operations and it may also result in an increase in the Project cost. 
 
Conference Call Details 
 
A Conference Call and Webcast will be held by the Company on Tuesday, November 13, 2012 at 10:00 a.m. EST (Toronto), 
3:00 p.m. GMT (London) 
 
Webcast link: http://www.media-server.com/m/p/9ebch3qp 
 
Dial-in numbers: 
International Dial In:                  [phone] 
Australia:                              1800 801 825 
Canada:                                 1855 842 3490 
United Kingdom:                         0800 0150 9725 
United States of America:               1855 298 3404 
 
 
If your country dial-in number is not included here please email [e-mail]. 
 
A presentation to support the conference call will be posted on www.nautilusminerals.com for download by 9:30 a.m. EST 
(Toronto) on Tuesday, November 13, 2012. 
 
Links 
 
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=555835&_Type=News-Releases&_Title=Nautilus-Minerals- 
discovers-more-high-grade-systems-in-Tonga 
 
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=548462&_Type=News-Releases&_Title=Nautilus-Minerals- 
Defines-410-million-tonne-Inferred-Mineral-Resource 
 
For more information please refer to www.nautilusminerals.com. 
 
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 Nautilus developing a seafloor copper-gold project and commencing production thereon. We 
have made numerous assumptions about the material forward-looking statements and information contained herein including 
the progression of the arbitration of the disputes between Nautilus and the State. 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 arbitration involving the 
dispute with the State does not result in a positive outcome. 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 more than 500,000 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 11.1% interest and MB 
Holdings, an Oman based group with interests in mining, oil & gas, which holds a 16.9% interest. 
 
 
 
FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Nautilus Minerals Inc. (Toronto) 
Investor Relations 
[phone] 
[e-mail] 
www.nautilusminerals.com 
 
OR 
 
Numis Securities Limited 
Nominated adviser: Alastair Stratton/Stuart Skinner 
Corporate broking: James Black 
+ 44(0) 20 7260 1000 
 
OR 
 
Dahlman Rose & Co., LLC 
Christopher R. Weekes 
1301 Avenue of the America's 
New York, NY 10019 
Direct: [phone] 
 
Neither the TSX, London Stock Exchange nor the OTCQX accepts responsibility for the adequacy or accuracy of this press 
release. 
 
 
Nautilus Minerals Inc.