MSV Minco Silver Corp

Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus")
announces the release of its unaudited consolidated financial results for the
second quarter ended June 30, 2008 together with Management's Discussion and
Analysis.


2nd Quarter 2008 Highlights:

- $299 million (equivalent) in cash and cash equivalents held on deposit with
major banks as of June 30, 2008


- Contract signed with Canyon Offshore Inc. to provide the vessel, Remote
Operated Vehicle and drilling equipment for the Company's exploration and
environmental programs


- Completed initial metallurgical test work on our Solwara 1 deposit confirming
that a marketable copper concentrate can be produced using standard froth
floatation techniques


- New CEO and President appointed

- Contract to provide the specialist Mining Support Vessel ("MSV") for Nautilus'
Solwara 1 Project in Papua New Guinea was signed with North Sea Shipping Holding
AS


- Commenced our 2008 exploration campaign

Steve Rogers, President and CEO, commented: "During this second quarter of 2008,
the Company completed its project targets with the award of the MSV contract,
the final contract of the three components of our mining system and closed the
quarter with US$299 million in cash and cash equivalents."


The Financial Statements and Management's Discussion and Analysis have been
filed on www.sedar.com and are available on the Company's website,
www.nautilusminerals.com.


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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