Nautilus Minerals Announces Launch of Marketed Public Offering (Canada)

Nautilus Minerals has launched a marketed public offering of common shares of the Company.

The offering will be conducted through a syndicate of underwriters led by TD Securities Inc. and Credit Suisse Securities (Canada), Inc.The offering is expected to raise gross proceeds of approximately C$150 million. The Company also will grant the underwriters an over-allotment option to purchase up to that number of additional common shares equal to 15% of the common shares sold pursuant to the offering. The option will be exercisable for a period of 30 days following closing.

The Company intends to use the net proceeds from the offering to fund the development of the Solwara 1 project, to fund the Company’s equity contribution associated with the production support vessel joint venture agreement and for general corporate purposes.

Final pricing of the offering will be determined in the context of the market prior to the filing of the final short form prospectus. The common shares will be offered in all provinces of Canada except Quebec by way of a short form prospectus and other jurisdictions outside of Canada pursuant to applicable private placement exemptions.

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Source: nautilusminerals,May 25, 2011;