An anonymous director reports

NAUTILUS PROVIDES CORPORATE UPDATE

Nautilus Minerals Inc. has provided the following update on its operations.

The company continues to explore financing opportunities in order to maintain the development of the Solwara 1 project and the company's operations.

As previously disclosed, the company requires significant additional financing in order to complete the build and deployment of the sea floor production system to be utilized at the Solwara 1 project by the company and its joint venture partner (as to 15 per cent), the Independent State of Papua New Guinea's nominee.

Based on the company's current cash position and budget, in order to maintain the company's operations and the development of the Solwara 1 project, the company needs to obtain new financing of approximately $41-million (U.S.) prior to the end of 2017 and, in particular, at least approximately $15-million (U.S.) is required before Oct. 31, 2017, in order to meet the company's contractual commitments in relation to certain of the equipment forming part of the sea floor production system.

The company is in active discussions with various parties, including existing shareholders, regarding potential financing transactions and alternatives. There can be no assurances that the company will be successful in securing the necessary additional financing transactions within the required time or at all. Failure to secure the necessary financing may result in the company engaging specialist advisers and taking various steps aimed at maximizing shareholder value such as undertaking various transactions including, without limitation, asset sales, joint ventures and capital restructurings.

The company will provide further updates as circumstances warrant.

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.

Nautilus also holds highly prospective exploration acreage in the Western Pacific (granted and under application) as well as in international waters in the Central Pacific.

We seek Safe Harbor.