Nautilus Minerals Announces Release of Annual Results
Number 2017 – 04
Toronto Ontario, March 28, 2017 - Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the "Company" or "Nautilus"
announces the release of its audited consolidated financial statements for the year ended December 31, 2016, together with the related Management's Discussion and Analysis.
2016 Significant Events
· Advanced the Solwara 1 Project by taking delivery of the three Seafloor Production Tools and completing assembly of the pump and riser system.
· Advanced the Production Support Vessel construction.
· Restructured the development plans for the Solwara 1 Project with resulting staff reductions, and schedule modifications.
· Received overwhelming shareholder approval in favour of a US$20 million bridge financing facility provided by the Company’s two largest shareholders.
· Raised C$28 million through a rights offering.
· Announced the upgrade and increase to the Company’s CCZ mineral resource.
· Finished the year with US$26.8 million in cash and cash equivalents as at December 31, 2016.
Nautilus' CEO, Mike Johnston, commented "2016 was a challenging year for Nautilus, as it was for many mining companies, but the Company still remains on track to achieve production in Q1 2019, subject to financing. We look forward to updating the market on the status of our ongoing finance discussions in the coming months.”
The Financial Statements and Management's Discussion and Analysis will be filed on www.sedar.com and will also be available on the Company's website
http://www.nautilusminerals.com/IRM/ShowCategory.aspx?CategoryId=305&FilterStyle=B&archive=true&masterpage=311&year=2015&RID=400
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