Poseidon

Nautilus Minerals reported high-grade gold-silver-zinc mineralization from 68 surface samples at the Solwara 2 and Solwara 3 prospects within exploration licence EL 1383 in Papua New Guinea.

Nautilus Minerals issued a special warrant to Barrick Gold at a deemed price of $13,679,846.18, convertible into shares tied to Barrick's Solwara joint-venture interest.

Nautilus Minerals appointed Mel Togolo as PNG country manager effective Sept. 1, 2006, entered an investor relations agreement with UP Communications and granted stock options.

Nautilus Minerals Inc. has appointed Shontel Norgate as chief financial officer, effective Sept. 6, 2006.

Barrick Gold has agreed to convert its Solwara joint venture interest into a 9.59-per-cent equity stake in Nautilus Minerals.

Nautilus Minerals and the Woods Hole Oceanographic Institution will conduct a 42-day joint exploration cruise of Nautilus's Bismarck Sea leases in Papua New Guinea starting July 21.