Poseidon

Nautilus Minerals lodged 18 prospecting licence applications in Tonga's exclusive economic zone and two special prospecting licences in Fiji's EEZ, covering about 90,000 square kilometres.

Nautilus Minerals Inc. has appointed Stephen Rogers as director, projects, to manage engineering and development of the Solwara 1 project in Papua New Guinea.

Nautilus Minerals has agreed a private placement of up to US$60 million with a syndicate led by Salman Partners, expected to close in late February 2007.

Nautilus Minerals has engaged Numis Securities to raise $100-million (U.S.) via an AIM listing to help finance its Solwara 1 seafloor project in Papua New Guinea.

Nautilus Minerals has lodged 25 additional exploration licence applications covering 63,950 square kilometres of the Solomon Sea in Papua New Guinea, bringing its total PNG holdings to 186,343 square kilometres.

Nautilus Minerals closed a non-brokered private placement of 9,425,758 common shares at $3.30 (U.S.) per share for gross proceeds of $31.1-million (U.S.).

Teck Cominco has agreed to buy 9,425,758 Nautilus Minerals shares for $31.1-million (U.S.) in a private placement and to invest a further $12-million (U.S.) in an exploration joint-venture option.