An anonymous director reports

NAUTILUS MINERALS INC.: PROPOSED CANCELLATION OF ADMISSION OF COMMON SHARES TO TRADING ON AIM

The admission of Nautilus Minerals Inc.'s common shares to trading on the Alternative Investment Market of the London Stock Exchange PLC will be cancelled with effect from March 8, 2013, at 7 a.m. (GMT). The last trading day on AIM will be March 7, 2013. The company will continue to maintain its listing on the Toronto Stock Exchange.

This decision to cancel has been made following a careful review of Nautilus's listing on AIM by the board of directors of the company. The principal reasons for the board's decision relate to the lack of liquidity in the company's shares on AIM and the cost of maintaining the listing on AIM. The board considers that the costs incurred to maintain the listing of the company's shares on AIM now exceed current and potential future benefits the company could obtain from the listing. The board looks forward to the continued support of its shareholders though its TSX listing.

Further information on cancellation of AIM listing and termination of DI register

Computershare Investors Services PLC, acting in its capacity as depositary in respect of Nautilus's depositary interests, which are the company's securities listed on AIM, and each of which represents one common share, will be writing to all DI holders today to advise as to the process for the termination of DIs. The termination of DIs is a separate event to the cancellation of the AIM listing. All DIs will remain valid after the cancellation of the AIM listing, up until the termination of the DI register.

In accordance with the deed constituting the DIs, DI holders will be given 90 days notice from today of the termination of the DI register. During the notice period, DI holders may transfer their holding to the Canadian-based depository operated by the Canadian Depository for Securities Ltd. An updated holding statement of Nautilus shares will then be issued to former DI holders. Once the shares are transferred to the Canadian Depository, they will be tradable through the facilities of the TSX. This process can be completed quickly if all documents received are valid.

To transfer your holding, DI holders should contact the global transactions team for Computershare. Please e-mail AllJEGlobalTransactionTeam@computershare.co.je or phone Suzanne Schofield at 44-1534-281869. Beneficial shareholders who hold shares with a United Kingdom broker in Crest should contact their broker if they wish to sell/transfer their shares.

If shareholders wish to sell their DIs before the transfer to the Canadian Depository, they must do so prior to the date of termination. Once the notice period has expired, DI holders will automatically be transferred to the U.K. Branch Certificated Share Register in Jersey. Subsequently, following the termination of the Jersey register, former DI holders and certificated holders on the Jersey branch register will be transferred to the Canadian register, and a certificate of holding will be issued to the holder as recorded on the DI/branch register.

The company will continue to maintain its listing on the TSX, and, as such, cancellation of the AIM listing is not conditional upon shareholder consent.

                       TIMETABLE OF EVENTS

Key dates           Action                                                  

Feb. 1, 2013        Market announcement and letter to DI holders posted       
March 7, 2013       Final trading day of the company on AIM                 
March 8, 2013       Cancellation of AIM listing                             
May 3, 2013         Termination of depositary interest register and the     
                    removal of the ISIN within the Crest settlement system  
                    Transfer of depositary interest holders to the Jersey   
                    register                                                
May 10, 2013        Expiration of depositary interests in Crest             
May 10, 2013        Migration of Jersey register to Canadian register