An anonymous director reports

MICHAEL BAILEY ENGAGES TRUE NORTH ADVISERS TO CONSULT ON NAUTILUS MINERAL TAKEOVER BID

Gannibal Securities and the family office of Michael Bailey have retained True North Advisers to provide mergers and acquisition advisory services to consult Mr. Bailey's takeover bid and negotiate terms with the Papua New Guinea government upon the completion of the Nautilus Minerals go-private transaction. Michael Jaliman will act as the lead consultant on the transaction.

Mr. Jaliman assists clients with business strategy, organizational development and executive coaching. Mr. Jaliman has served as senior managing director at Fujitsu Consulting and as the regional head of its financial services practice. At McKinsey & Co., he developed transformational leadership training and worked on corporate strategy. As director of strategic planning at KPMG Asia Pacific, Mr. Jaliman developed strategy for building KPMG's consulting practice in Asia and served as an adviser to business and government leaders. As executive vice-president of Twenty First Century Venture Partners, Mr. Jaliman invested in and advised early-stage technology companies.

Mr. Jaliman advised the major political parties in Taiwan and organized and moderated that nation's first election debate. He was a major party candidate for the United States Congress from New York. Mr. Jaliman has worked with several notable visionaries, including Buckminster Fuller and Jonas Salk, and has provided policy advice to U.S. political and economic leaders during the recent near collapse of the financial sector.

Mr. Jaliman was awarded a bachelor's degree (honours) in economics from the University of Wisconsin at Madison, where he was the president of the student government. He also has a master of business administration from Harvard Business School.

The term of the consulting engagement is for seven months at a fee of $100,000; however, the agreement may be terminated after month six. Mr. Bailey has granted to True North Advisers an option to purchase a total of 175,000 common shares of the private company at $7, which shall vest quarterly in accordance with the policies of the Toronto Stock Exchange. All shares acquired are subject to a four-month hold period that commences on the date of grant.