Nautilus investor Gazmetall buys 32.7 million shares

GAZMETALL HOLDING (CYPRUS) LIMITED (“GAZMETALL”) ANNOUNCES THE ACQUISITION OF 32,708,799 SHARES OF NAUTILUS MINERALS INC. (“NAUTILUS”)

In accordance with regulatory

requirements, Gazmetall, on Aug. 20, 2008, acquired

ownership over 32,708,799 common shares of Nautilus Minerals Inc.,

which were transferred pursuant to a memorandum of agreement dated

June 21, 2007, as amended with effect as of Oct. 4, 2007.

The Nautilus shares represent approximately 22.3 per cent of the issued and

outstanding common shares of Nautilus.

Immediately after acquiring on Aug. 20, 2008, the Nautilus shares

transferred pursuant to the agreement, Gazmetall owned in total

32,708,799 common shares of Nautilus which number represents approximately

22.3 per cent of the issued and outstanding common shares of Nautilus.

Gazmetall is the registered owner of the Nautilus shares which are

beneficially owned by joint stock holding company, Metalloinvest.

The Nautilus shares were acquired for investment purposes only and not

for the purpose of exercising control or direction over Nautilus. At the

moment, Gazmetall has no future intention to acquire ownership or control over

or additional securities of Nautilus. Gazmetall does not exclude that in the

future it may wish to increase its stake in Nautilus and participate in the

management of Nautilus.

Under the agreement, Epion Holdings Ltd. shall transfer to Gazmetall

full legal and beneficial ownership in and to the Nautilus shares for a total

consideration of $210.5-million (U.S.). Consideration has been paid by Gazmetall in

advance in 2007.