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Abstract
(Marketwire - Oct. 7, 2009) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") is pleased to announce that it has entered into a Port Upgrade and Operations Deed ("Deed") with PNG Ports Corporation Limited ("PNGPC") that provides Nautilus with a secure right to port handling capacity for 1.5 million tonnes of ore per year for three years with an option to commence operations as early as January 1, 2012. The Deed also provides Nautilus with the exclusive right to enter into a licence agreement to use the hardstand area of the Rabaul port for the Solwara 1 ore stockpiles. When Nautilus commences production from its Solwara 1 project, recovered ore will be shipped from the offshore site to Rabaul for temporary stockpiling prior to shipment for treatment overseas.
Mr [Matthew Charles Perrins Hammond] is the Group Strategist at Metalloinvest Holdings, where he has responsibility for part of the non-core asset portfolio. Matthew advises the Metalloinvest Board on strategic acquisitions and investments. Metalloinvest beneficially holds 32,708,799 common shares in Nautilus, representing approximately 21.0% of the Company's issued share capital, through Gazmetall Holding (Cyprus) Limited. Prior to joining Metalloinvest, Mr Hammond was a Director at Credit Suisse, where he worked for 12 years. He has a BA (Hons) from Bristol University.