Nautilus Secures Key Production Component
06 May 2011 - 10:21PM
UK Regulatory
TIDMNUS
Nautilus Secures Key Production Component
FOR: NAUTILUS MINERALS INC.
TSX, AIM SYMBOL: NUS
May 6, 2011
Nautilus Secures Key Production Component
TORONTO, ONTARIO--(Marketwire - May 6, 2011) - Nautilus Minerals (TSX:NUS)(AIM:NUS) is taking another step
forward in the construction of its seafloor production system, proceeding with an order for the Subsea Slurry
Lift Pump (SSLP).
The SSLP will pump high grade slurry from the bottom of the riser, at Nautilus' proposed Solwara 1 project in
the Bismarck Sea of Papua New Guinea (PNG), to a Production Support Vessel (PSV) floating approximately 1600
metres above. It is a key piece of equipment in Nautilus' plan to produce commercial quantities of copper, gold
and other metals from the deep ocean.
The contract for the SSLP was first awarded to GE Oil & Gas in June 2008, but was suspended later that year due
to the global financial crisis. With the improvement in economic conditions, and recent major advances in the
Solwara 1 project, Nautilus has reinstated the contract.
Nautilus announced earlier this year that it had secured a Mining Lease from the PNG Government, which also had
elected to contribute funds to take up a 30% interest in the Solwara 1 project. That was followed by the
announcement of a strategic partnership with German shipping company Harren & Partner to provide the PSV.
"We are now taking a number of steps to move the Solwara 1 project forward pending final sanction of the
project by the Nautilus Board of Directors," said Nautilus CEO Steve Rogers. "By lifting the suspension, we are
securing this critical component and ensuring that we meet our project timelines," he said.
GE Oil & Gas is a world leader in advanced technology equipment and services for all segments of the oil and
gas industry, from drilling and production, LNG, pipelines and storage to industrial power generation, refining
and petrochemicals. GE Oil & Gas also provides pipeline integrity solutions, including inspection and data
management, and designs and manufactures wire-line and drilling measurement solutions for the oilfield services
segment. GE Oil & Gas exploits technological innovation from other GE businesses, such as aviation and
healthcare, to continuously improve oil and gas industry performance and productivity. GE Oil & Gas employs
more than 16,000 people worldwide and operates in over 100 countries. GE was awarded the contract to build the
SSLP using their Hydril Pressure Control subsea pumping technology.
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 dates of delivery of seafloor production equipment
and project deadlines. 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, late delivery of equipment.
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.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Nautilus Minerals Inc. (Toronto)
Investor Relations
+1 (416) 551 1100
investor@nautilusminerals.com
OR
Nautilus Minerals Inc.
Joe Dowling
Vice President Investor Relations and Communications
+61 (7) 3318 5544 or Cell: +61 431 365 741
jjd@nautilusminerals.com
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.
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