Mr. Mike Johnston reports

NAUTILUS MINERALS DISCOVERS MORE HIGH GRADE SYSTEMS IN TONGA

Nautilus Minerals Inc. has discovered two high-grade, sea floor massive sulphide (SMS) systems on its wholly owned exploration tenements in the territorial waters of the Kingdom of Tonga.

Grab samples from these discoveries assayed up to 11.9 per cent copper, 59.8 per cent zinc, 28.6 grams per tonne gold and 673 grams per tonne silver.

Mike Johnston, Nautilus Minerals' chief executive officer, commented: "These discoveries further highlight the prospectivity of our Tongan exploration tenements, particularly the high precious-metal grades we continue to encounter in the NE Lau basin. They will be added to the 17 SMS systems, as previously reported on our Tongan prospecting licences (i), which are being considered for further evaluation."

The SMS systems were sampled during an 18-day marine scientific research cruise between the Sept. 9, 2012, and Sept. 26, 2012. The samples were collected as a part of a broader research effort in the NE Lau basin.

(i) Jankowski, 2012, "Nautilus Minerals Incorporated, NI 43-101 Technical Report, 2011, PNG, Tonga, Fiji, Solomon Islands, New Zealand, Vanuatu and the ISA"

Summary of sampling program in the NE Lau basin, Tonga

Fonualei South

Two separate chimney fields, containing high-grade sulphide chimney structures, were observed and sampled on a large volcanic edifice, which consisted of a mixture of some active but mostly inactive chimneys generally up to approximately four metres high.

The water depth of Fonualei South 1 is approximately 965 metres. The upper limit of mineralized outcrop appears to follow the bathymetry contour; however, the lower boundary remains unmapped. Chimneys are densely packed into clusters with dominant sulphide talus surrounding their bases.

At Fonualei South 2, ROV (remotely operated vehicles) observations confirm the presence of chimneys at a water depth of approximately 1,550 metres, interpreted from high-resolution AUV (autonomous underwater vehicle) bathymetry data collected in 2011. This system lies on relatively flat terrain at the base of the Fonualei South volcanic edifice. Two tall, black smoker chimneys were measured at this site (25 metres to 30 metres in height). A single sample of chimney talus with exceptional zinc and gold values was collected at the base of a tall chimney (sample 25113). The outcropping mineralization was not mapped to its full extent in any direction.

FINAL ASSAY RESULTS OF SULPHIDE-BEARING SAMPLES
           FOR FONUALEI SOUTH (1)

Sample Sample   Weight    Cu     Zn    Au    Ag
No.      type       (g)   (%)    (%) (g/t) (g/t)

25113  Chimney     760 0.866 59.800 28.60   673
25114  Chimney     520 4.490  5.650  3.78    31
25115  Chimney    1100 3.780 43.500 12.90   556
Minimum                  0.9    5.6   3.8    31                             
Maximum                  4.5   59.8  28.6   673                             
Average                  3.0   36.3  15.1   420  
                           
(1) Results received from ALS Laboratory                                    
(2) UTM WGS84 zone 1 South                                                  

North Mata

Two separate chimney fields, containing high-grade sulphide chimney structures, were observed and sampled on subparallel volcanic edifices.

Mata Ua chimney field was observed and sampled on the northwestern flank of the southern volcanic edifice, at a water depth of approximately 2,360 metres. There is copious chimney talus above and below the chimney field, containing active black smokers, on a reasonably steep slope. The outcropping mineralization was not mapped to its full extent; it remains open along strike to the northeast and southwest.

The Mata Tolu chimneys were first observed in a camera tow in 2010. The recent ROV observations and sampling confirmed the existence of a chimney field, at a water depth of 1,820 metres, on the summit of the volcanic edifice. A significant quantity of chimney talus was observed at the base of chimney clusters within the chimney field. The outcropping mineralization was not mapped to its full extent in any direction.

FINAL ASSAY RESULTS OF SULPHIDE-BEARING SAMPLES 
                FOR NORTH MATA (1)

Sample    Sample   Weight     Cu     Zn    Au    Ag
No.         type       (g)    (%)    (%) (g/t) (g/t)

25117    Chimney      250 11.900  6.510 10.25   112
25124    Chimney      550  0.947  3.070 10.95    82
25125    Chimney     2380  0.286 11.300  9.78   134
25126    Chimney      160  3.660  0.878  5.09    37
25128    Altered      160  1.185  0.694  9.94    34
        volcanic
Minimum                      0.3    0.7   5.1    34                             
Maximum                     11.9   11.3  11.0   134                             
Average                      3.6    4.5   9.2  79.8                           
  
(1) Results received from ALS Laboratory                                    
(2) UTM WGS84 zone 1 South                                                  

Summary of procedures

The target testing and sampling work described herein was completed using a Quest 4000 remotely operated vehicle (ROV) equipped with various video cameras and a forward-looking sonar to identify sea floor features ahead and to the sides of the ROV, in real time.

For sea floor sampling, the ROV was equipped with two manipulator arms and a custom-built sample tray, or geobox, for storing up to 10 hand-sized grab samples or scoop samples.

Target testing procedure

Outcropping sulphide mineralization at each of the four sites was observed using the ROV during target testing traverses. The planned traverses are generally based on features observed in detailed bathymetry maps, augmented by plume hunting data and previous camera tows where possible. When chimney structures are located, using a combination of video and sonar equipment, that area is mapped in greater detail with the ROV, and ROV grab samples are collected.

No equipment capable of mapping any mineralization beneath the sea floor was available on the ROV.

Sampling procedure

Chimney and altered volcanic rock samples averaging 735 grams (from 160 grams to 1,100 grams) were collected using the ROV manipulator arm, and then placed in a separate sample cage for recovery to the ship and processing on deck. Relatively fresh chimney samples were collected in a representative part of each field. Nautilus Minerals received a portion of each sulphide-bearing ROV grab sample, the assays of which are the material substance of this release.

Small volcanic samples, which are not material to this release, were also collected using the ROV manipulator arm and placed in the sample box attached to the ROV. The assay results for these unmineralized volcanic samples are under the custodianship of the collaborating scientists and not yet available for publication.

Laboratory analysis

All analysis was carried out by ALS Laboratory Group in Brisbane, Australia. ALS operates quality systems based on international standards ISO/IEC 17025:1999 -- General Requirements for the Competence of Calibration and Testing laboratories and ISO 9001:2000 -- Quality Management Systems -- Requirements.

Samples were crushed, split and weighed in preparation for analysis via inductively coupled plasma mass spectrometry (ICP-MS), atomic absorption spectroscopy (AAS) and inductively coupled plasma atomic emission spectroscopy (ICP-AES). In addition to the ALS internal standards, duplicates and blanks, Nautilus Minerals included appropriate standards and a duplicate for analysis.

Qualified person

The exploration results reported in this press release have been compiled under the supervision of Jonathan Lowe, exploration manager of Nautilus Minerals. Mr. Lowe is a fellow and chartered professional of the Australasian Institute of Mining and Metallurgy, has over 17 years experience in exploration geology, and is a qualified person as defined by National Instrument 43-101. He has read and approved the technical disclosure in this release.

We seek Safe Harbor.