MSV Minco Silver Corp

Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus")
announces that it has entered into a binding agreement with North Sea Shipping
Holding AS ("North Sea Shipping") to provide the specialist Mining Support
Vessel ("MSV") for Nautilus' Solwara 1 Project in Papua New Guinea. North Sea
Shipping is a leading Norwegian ship owner and operator in the offshore oil and
gas industry. They will provide a 160m dynamically postioned specialist new
build ship, on a five year charter basis with options to extend for another five
years.


http://www.nautilusminerals.com/i/misc/miningsupportvessel.jpg

Stephen Rogers, Nautilus' CEO commented: "The MSV award is a key milestone for
the Solwara 1 Project. Our exhaustive and highly competitive selection process
has yielded an excellent MSV which could not be a better match to the specified
requirements. The working relationship developed with North Sea Shipping through
the negotiation process has created a solid foundation for the future. The MSV
award keeps Nautilus on track for commencement of production in 2010, subject to
timely permitting and approvals."


North Sea Shipping was selected from a short list after a competitive
engineering evaluation. The build of the hull is already well advanced at one of
Turkey's leading shipbuilders RMK Marine, based in Tuzla south of Istanbul. On
completion of hull fabrication in July 2009, the vessel will be outfitted by
Astilleros Barreras, at its Vigo yard in Northern Spain, with completion
scheduled in June 2010.


The 160m vessel is 30m wide, has a draft of 7m and displacement of 14,200
tonnes. It has some outstanding features which make it ideal as a candidate for
seafloor mining. These include a 400 tonne heave compensated crane which is
capable of working at 2,500m water depth and total installed power of 21 MW
which will allow it to satisfy both ship and mining equipment demands. The
vessel can accommodate 120 people which is more than adequate for the marine and
mining crew and has a deck area of 2,900m2 which will accomodate the mining
equipment.


The value of the MSV contract is approximately US$125 million over the initial
five year period.


About North Sea Shipping.

North Sea Shipping is a leading ship owner based outside Bergen on the west
coast of Norway. This family owned business has been operating ocean going
vessels for several generations and support vessels in the oil and gas industry
since 1980. Today North Sea shipping is actively involved in sixteen vessels
operating in the oil and gas sector as well as the cable laying business. For
more information please see www.northsea.no.


About Nautilus Minerals Inc.

Nautilus is the first company to commercially explore the ocean floor for gold
and copper seafloor massive sulphide deposits and subject to timely permitting
is positioning itself to become an emerging producer in 2010. The Company's main
focus is the Solwara 1 Project, which is located in the territorial waters of
Papua New Guinea in the western Pacific Ocean. Nautilus is listed on the TSX and
on AIM, and has among its largest shareholders two of the world's leading
international resource companies, Teck Cominco (7.2%) and Anglo American (5.7%).
Epion (22.4%) is controlled by the founder of Metalloinvest one of the largest
and fastest growing mining and metallurgical holdings in Russia.

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