Mr. Mike Johnston reports

NAUTILUS MINERALS ANNOUNCES FINANCIAL RESULTS FOR Q1 2017

Nautilus Minerals Inc. has released its unaudited consolidated financial statements for the first quarter ended March 31, 2017, together with management's discussion and analysis.

2017 significant events to date:

• Received $4-million (U.S.) through the $20-million (U.S.) bridge financing facility provided by the company's two largest shareholders;
• Announced the arrival of the sea floor production tools (SPTs) in Papua New Guinea;
• Announced the arrival of the LARS and ancillary equipment to the Mawei shipyard in China;
• $19.5-million (U.S.) in cash and cash equivalents as at March 31, 2017.

Mike Johnston, Nautilus's chief executive officer, commented: "It was very pleasing to see the SPTs arrive in PNG where they will undergo submerged trials in the coming months. We now remain focused on the build of the production support vessel and the integration of the rest of the equipment on it. Subject to further financing, we remain on schedule to develop the world's first commercial high-grade sea floor copper-gold mine at the Solwara 1 project site in the first quarter of 2019 (1)."

(1) Subject to further financing.

The unaudited financial statements and management's discussion and analysis will be filed on SEDAR and will also be available on the company's website.

About Nautilus Minerals Inc.

Nautilus is the first company to explore the ocean floor for polymetallic sea floor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.

We seek Safe Harbor.