Nautilus Ends Q1 2014 with US$34.5 Million in Cash, Cash Equivalents

Nautilus Minerals Inc. (TSX:NUS,OTCQX:NUSMF) announced its financial results for the first quarter of 2014, commenting that significant events include confirmation of the nodule deposit grade and extent of the Clarion Clipperton zone.

The company also said that at the end of the quarter it held US$34.5 million in cash and cash equivalents.

Post-Q1 significant events include:

• Resolved issues with the Independent State of Papua New Guinea (the State) and signed agreement
• Confirmed CEO appointment
• Advanced the Solwara 1 Project by completing the mechanical and hydraulic assembly of the Bulk Cutter

Mike Johnston, CEO of Nautilus, commented:

We are delighted that we have resolved the issues with the State in regards to their participation in the Solwara 1 Project and look forward to working as partners in this new deep sea mining industry.

The Company’s immediate focus will now be on securing a suitable vessel arrangement as we continue our discussions with potential vessel partners, while also undertaking a tender process with shipyards experienced in building offshore construction vessels.

Click here to read the full Nautilus Minerals Inc. (TSX:NUS,OTCQX:NUSMF) press release.