Nautilus Dispute With the State of PNG

 
TIDMNUS 
 
Nautilus Dispute With the State of PNG 
FOR:  NAUTILUS MINERALS INC. 
 
TSX SYMBOL:  NUS 
OTCQX SYMBOL:  NUSMF 
AIM SYMBOL:  NUS 
 
June 1, 2012 
 
Nautilus Dispute With the State of PNG 
 
TORONTO, ONTARIO--(Marketwire - June 1, 2012) - Nautilus Minerals (TSX:NUS)(OTCQX:NUSMF)(AIM:NUS) advises that it is in 
dispute with the Independent State of Papua New Guinea (the State) as to the parties' obligations to complete the 
Agreement entered into on 29 March 2011. Nautilus has initiated the dispute resolution process provided for in the 
Agreement, which may lead to a referral of the dispute to arbitration if it can not be resolved through further 
discussions amongst senior representatives of the parties over an initial 10 day period. 
 
The State exercised its option under the Agreement to acquire a 30% interest in the Solwara 1 Project through its 
nominee, a subsidiary of Petromin PNG Holdings Limited. However, the State asserts that Nautilus has not met certain 
obligations on which completion is dependent, and that Nautilus has breached the Agreement. Nautilus refutes these 
assertions. 
 
As previously disclosed, under the Agreement the State's nominee (Petromin subsidiary) 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 provide a further update, including as to any slowing or deferral of the build program, in due course 
following any further developments. 
 
Conference Call 
 
A Conference Call and Webcast will be held next week, details of which will be provided in due course. 
 
Links 
 
http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=449316&_Type=News-Releases&_Title=PNG-Government- 
Confirms-Investment-in-Solwara-1 
 
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. 
 
 
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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 
 
OR 
 
Numis Securities Limited 
James Black 
Corporate broking 
+ 44(0) 20 7260 1000 
 
OR 
 
Dahlman Rose & Co., LLC 
Christopher R. Weekes 
[phone] 
 
Neither the TSX, London Stock Exchange or the OTCQX accepts responsibility for the adequacy or accuracy of this press 
release. 
 
 
 
 
Nautilus Minerals Inc.