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Press release from Marketwire

Nautilus Hosts Investors at Offshore Technology Conference and Announces US$196 Million Cash Balance as at March 31, 2010

Wednesday, May 05, 2010

Nautilus Hosts Investors at Offshore Technology Conference and Announces US$196 Million Cash Balance as at March 31, 201008:43 EDT Wednesday, May 05, 2010TORONTO, ONTARIO--(Marketwire - May 5, 2010) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") yesterday held a successful investor and analyst day at the Offshore Technology Conference in Houston, Texas. Investors and analysts toured Nautilus' key contractor facilities, attended the Ocean Mining Session at the Offshore Technology Conference and met with members of Nautilus' Senior Management Team.Nautilus will release its full Q1 2010 financial results on May 14, 2010 but advises that its cash balance at the end of Q1 2010 was $US196 million.About Nautilus Minerals Inc.Nautilus is the first company to commercially explore the ocean floor for polymetallic seafloor massive sulphide deposits and is currently developing its first project. 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 AIM stock exchanges, and has among its largest shareholders two of the world's leading international resource companies Anglo American (11.1%), Teck Resources (6.8%) and Metalloinvest, one of the largest and fastest growing mining and metallurgical holding companies in Russia, beneficially owns 21.0% of its shares through Gazmetall Holding (Cyprus) Limited.FOR FURTHER INFORMATION PLEASE CONTACT: Nautilus Minerals Inc. (Toronto) Investor Relations +1 (416) 551 1100 investor@nautilusminerals.com www.nautilusminerals.com or Nautilus Minerals Inc. Australian Project Office +61 (7) 3318 5555 or Numis Securities Limited John Harrison Nominated adviser + 44(0) 20 7260 1000 or Numis Securities Limited James Black Corporate broking + 44(0) 20 7260 1000 Neither the TSX nor the London Stock Exchange accept responsibility for the adequacy or accuracy of this press release.