Half year report

 
TIDMNUS 
 
Half year report 
FOR:  NAUTILUS MINERALS INC. 
 
TSX, AIM SYMBOL:  NUS 
 
August 15, 2011 
 
Nautilus Reports Solid First Half Results 
 
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 15, 2011) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) achieved 
a series of important operational milestones in its pioneering seafloor production project during the first six 
months of 2011, and ended the period with a healthy cash balance of US$112 million. 
 
The highlights of the half-year were as follows: 
 
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=-  In January, the PNG Government granted Nautilus a Mining Lease to enable 
    production at the company's first development project at Solwara 1, in 
    the Bismarck Sea. The lease provides Nautilus with a 20 year license to 
    mine an area of approximately 59 km(2) surrounding Solwara 1, 50 km 
    north of Rabaul, where Nautilus intends to mine high-grade copper and 
    gold deposits on the seafloor, at depths of approximately 1600 metres. 
    (For the full release see Links section below) 
=-  In March, the PNG Government confirmed its intention to take a 30% stake 
    in the Solwara 1 project as a joint venture partner. The Government will 
    contribute funds to the project in proportion to its interest, including 
    its share of the exploration and development costs incurred to date. The 
    initial contribution to be made by the Government's nominee, Petromin 
    PNG Holdings Limited, will be approximately US$24 million. The audit of 
    the final amount has recently been completed with payment to be made in 
    accordance with detailed project agreements being finalised by the 
    parties. 
=-  In April, the company announced an agreement to form a joint venture 
    with German shipping company Harren & Partner, to own and operate a 
    production support vessel which will serve as the operational base for 
    Nautilus at Solwara 1. Under the terms of the strategic partnership, 
    Harren will design and construct the vessel at a cost of approximately 
    EUR127 million, with delivery scheduled for the first half of 2013. 
=-  And in May, the company completed a major exploration drilling campaign 
    in the Bismarck Sea, which has delivered an enhanced understanding of 
    the Solwara 1 deposit and identified potential subsequent development 
    sites. 
 
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Since the end of the first half, the company has also announced two major advances in exploration. 
 
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=-  Nautilus Minerals' Tongan subsidiary, Tonga Offshore Mining Ltd. (TOML), 
    became one of the first private sector organisations to be granted 
    exploration licences in the highly prospective Clarion Clipperton Zone 
    (CCZ) of the Eastern Pacific in July. Sponsored by the Tongan 
    Government, TOML was granted approximately 75,000 km(2) of prime 
    exploration territory in the CCZ, which lies in international waters 
    between Hawaii and Mexico. As a result of exploration conducted in the 
    1980s, the CCZ is known to host hundreds of millions of tonnes of 
    polymetallic nodules, rich in copper, nickel, manganese and cobalt, 
    lying on the seafloor in water depths starting at 4500 metres. 
=-  The Fijian government this month granted Nautilus 14 special prospecting 
    licences in its territorial waters, covering a total of approximately 
    60,000 km(2)of highly prospective territory. Nautilus is the first 
    private sector organisation to be granted offshore exploration permits 
    in Fiji. 
 
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Following the continued extensive investment in the development phase of the Solwara 1 project during the six 
months to June, the company today announced a first half loss of US$7.98 million, which was significantly 
reduced from US$18.75 million in the six months to June 2010. 
 
The reduction in losses was largely a result of the company capitalising exploration and evaluation expenditure 
at Solwara 1 following receipt of the Mining Lease in January. 
 
The net cash position remained strong at US$112 million at the end of the period, following additional 
investment of US$42 million in plant & equipment and mineral properties during the six months. 
 
"Nautilus made excellent progress in the first half of 2011, achieving a number of important milestones," said 
CEO Steve Rogers. 
 
"Our financial position remains healthy and strong global commodity prices continue to enhance the business 
proposition. Significant value has been added over recent months as our exploration programs have yielded 
encouraging results, and we have gained additional highly prospective exploration territory in Fiji and 
International waters. 
 
"We look forward to the delivery of components for our seafloor production equipment and the announcement of a 
resource update in the second half of the year," he said. 
 
Conference Call 
 
A Conference Call and Webcast will be held on Tuesday, August 16, 2011 at 9:00 a.m. EDT (Toronto), 2:00 p.m. 
BST (London). 
 
Webcast link: http://www.media-server.com/m/p/b33wpd55 
 
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Dial-in numbers: 
 
International Dial In:     [phone] 
Australia:                 1800 148 258 
Canada:                    18668374489 
United Kingdom:            08000569662 
United States of America:  18665862813 
 
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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 http://www.nautilusminerals.com for download by 
8:30 a.m. EDT (Toronto) on Tuesday, August 16, 2011. 
 
Links 
 
Nautilus Granted Mining Lease http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=437932 
 
The Financial Statements and Management's Discussion and Analysis have been filed on www.sedar.com and are also 
available on the Company's website www.nautilusminerals.com/s/Investors-Financials.asp. 
 
Nautilus Minerals Inc. 
 
Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive 
sulphide deposits and is currently developing its first project at Solwara 1, in the territorial waters of 
Papua New Guinea. 
 
Nautilus is listed on the TSX and AIM stock exchanges, and has among its largest shareholders two of the 
world's leading international resource companies Anglo American (11.1%) and Teck Resources (6.8%), as well as 
Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, 
which beneficially owns 21% of the Company's issued shares through Gazmetall Holding (Cyprus) Limited. 
 
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 formation of a joint venture with Harren & 
Partner, the delivery of the PSV in the first half of 2013 for a price of US$171 million and the finalisation 
of project agreements with Petromin PNG Holdings Limited. We have made numerous assumptions about the material 
forward-looking statements and information contained herein, including among other things, that the joint 
venture partners will continue to negotiate with Nautilus and the negotiations will be successfully concluded, 
Even though our management believes that 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 the conditions precedent to the 
agreement with Harren & Partner will not be satisfied, that agreements with Petromin are not successfully 
concluded or that the exploration and special prospecting licences obtained in the Clarion Clipperton Zone and 
Fiji respectively are not highly prospective. 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 to not 
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. 
 
 
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FOR FURTHER INFORMATION PLEASE CONTACT: 
 
Nautilus Minerals Inc. (Toronto) 
Investor Relations 
[phone] 
[e-mail] 
 
OR 
 
Nautilus Minerals Inc. 
Joe Dowling 
Vice President Investor Relations and Communications 
[phone] or Cell: [phone] 
[e-mail] 
www.nautilusminerals.com 
 
OR 
 
Numis Securities Limited 
John Harrison 
Nominated Adviser 
+ 44(0) 20 7260 1000 
 
OR 
 
Numis Securities Limited 
James Black 
Corporate Broking 
+ 44(0) 20 7260 1000 
 
Neither the TSX nor the London Stock Exchange accepts responsibility for the adequacy or accuracy of this press 
release. 
 
 
 
 
Nautilus Minerals Inc.