Mr. Kyriakos Attikouris of Metallo reports

EARLY WARNING PRESS RELEASE

Metalloinvest Holding (Cyprus) Ltd. (Metallo) has acquired an aggregate of 16,990,111 common shares of Nautilus Minerals Inc. with head office at Level 3, 33 Park Rd., Milton, Queensland, Australia, representing 2.42 per cent of the issuer's current issued and outstanding common shares. The common shares were purchased under the issuer's subscription agreement with Metallo and Mawarid Offshore Mining dated Aug. 21, 2016, as amended, pursuant to which common shares of the issuer will be purchased by the purchasers on a private-placement basis and will close in tranches, on a monthly basis, during the period from Dec. 1, 2016, through Nov. 30, 2017, at the election of the issuer. The issuer will determine the amount of funds to be raised under each tranche during each month of the financing period, subject to the limitations of receiving maximum subscription proceeds of $2-million (U.S.) per month and an aggregate maximum total of $20-million (U.S.) during the entire financing period.

Since the date of the last early warning report filed by Metallo on April 12, 2017, the issuer issued to the purchasers an aggregate of 11,197,488 common shares on May 11, 2017, at an issue price of 23.9 cents per common share, an aggregate of 11,021,052 common shares on June 6, 2017, at an issue price of 24.7 cents per common share, and an aggregate of 11,761,682 common shares on Aug. 4, 2017, at an issue price of 21.4 cents per common share for aggregate gross proceeds to the issuer of $6-million (U.S.). The private placements were allocated equally between the purchasers.

As of the date of the last early warning report filed by Metallo on April 12, 2017, Metallo held 112,802,145 common shares of the issuer, representing 16.83 per cent of the common shares of the issuer as of such date. Metallo currently owns 129,792,256 common shares of the issuer, representing approximately 18.5 per cent of the outstanding shares of the issuer (including in the calculation common shares which have been issued under, and remain subject to the terms and conditions of, the issuer's share loan plan).

An early warning report in respect of the above transactions will be filed with the relevant Canadian securities regulatory authorities. Copies of such reports may be obtained from SEDAR or by contacting Kyriakos Attikouris at 357-25-206-000.

This press release is being disseminated by Metallo, an investment company incorporated under the laws of Cyprus at the address of 205 Christodoulou Chatzipavlou, Louloupis Court, 7th floor, 3036 Limassol, Cyprus, as required by National Instrument 62-103 -- The Early Warning System and Related Take Over Bids and Insider Reporting Issues.