Nautilus Minerals - Commercializing Submarine Massive Sulphide Systems

Nautilus Minerals is exploring for high-grade gold, silver, copper, and zinc-rich submarine massive sulphide deposits (SMS) within the territorial waters of the sovereign state of Papua New Guinea. Work to date has shown that these systems contain spectacularly high metal grades. To date a total of 88 surface sulphide grab samples have been collected from Nautilus’ Solwara 1 Prospect within EL 1196 in the Manus Basin, returning average grades of 15.5 g/t gold, 191g/t silver, 10.8% copper, and 4.7% Zn. Drilling in January/February 2006 confirmed the presence of this high grade system, with sulphide intersections up to 19m below the sea floor, with a best intersection of 11.6m at 9.1 g/t Au and 13.1% Cu.