Nautilus Announces Deferral of Solwara 1 Mining System Equipment Build
Toronto Ontario, December 17, 2008 – Nautilus Minerals Inc. (TSX & AIM: NUS) (the “Company” or “Nautilus”) today announces it has decided to adopt a more cautious strategy and to preserve its strong cash position by delaying the construction of the equipment for the Solwara 1 mining system. This decision is driven both by the challenges and opportunities presented by the unprecedented speed and severity of the global economic downturn and the uncertainty in the financial and commodity markets. The Company will continue to move forward with permitting for its Solwara 1 Project, as well as with various engineering and testing activities. In addition, the Company will continue with its focused exploration program to increase its resource base.
~Southern Fried Scientist