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Press release from Marketwire

Nautilus Releases Annual Report and Proposes New Director at AGM in Vancouver

Friday, May 28, 2010

Nautilus Releases Annual Report and Proposes New Director at AGM in Vancouver08:47 EDT Friday, May 28, 2010TORONTO, ONTARIO--(Marketwire - May 28, 2010) - Nautilus Minerals Inc. (TSX:NUS)(AIM:NUS) (the "Company" or "Nautilus") announces that it has sent its Annual Report and audited financial statements for the year ending December 31, 2009, together with a notice of the Company's Annual General Meeting ("AGM"), to its shareholders. The AGM will be held on Wednesday, June 23, 2010 at 10:30 a.m. (PDT) in the Connaught Room, 2nd Floor, Metropolitan Hotel, 645 Howe Street, Vancouver, British Columbia, Canada, V6C 2Y9.A copy of the Company's Annual Report containing the audited financial statements, and all AGM associated material (Information Circular and Notice of Meeting) are available on the Company's website at www.nautilusminerals.com/s/Investors-Financials.asp and under the Company's profile at www.sedar.com.One of the resolutions to be proposed at the AGM is the election of Directors of the Company, including the five incumbent Directors and Cynthia Patricia Thomas (age 49) to the Nautilus Board. If elected, Ms. Thomas would become a Director on June 23, 2010.Cynthia Thomas has 28 years of banking and mine finance experience, and currently acts as Principal of Conseil Advisory Services Inc. ("Conseil"), an independent financial advisory firm specialising in the natural resource industry which she founded in 2000. Prior to founding Conseil, Ms. Thomas worked with Bank of Montreal, Scotiabank and ScotiaMcLeod in the corporate and investment banking divisions. Ms. Thomas holds a Bachelor of Commerce degree from the University of Toronto and a Masters in Business Administration from the University of Western Ontario. Ms. Thomas was formerly a Director of PolyMet Mining Corp. and is currently a Director and Chair of Victory Nickel Inc., Director of KWG Resources Inc. and a Director and Chair of the Audit Committee for Ferrinov Inc., a private corporation.The Company is required to disclose under the AIM Rules for Companies the following information in relation to the election of Ms. Thomas as a Director of the Company. -------------------------------------------------------------------------- Current directorships and Directorships and partnerships held partnerships held by Ms. Thomas by Ms. Thomas in the last five years -------------------------------------------------------------------------- Victory Nickel Inc. Independent Nickel Corp. KWG Resources Inc. Ferrinov Inc. Conseil Advisory Services Inc. -------------------------------------------------------------------------- Other than as disclosed above, there is no further information in connection with the election of Ms. Thomas to the Nautilus Board which is required to be disclosed in accordance with Rule 17 and Schedule 2(g) of the AIM Rules for Companies.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 or Nautilus Minerals Inc. Australian Project Office +61 (7) 3318 5555 www.nautilusminerals.com 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.