Nautilus Minerals Inc. announced that it continues to arrange bridge loans from Deep Sea Mining Finance Ltd. (the Lender), which are expected to form part of a larger secured structured credit facility of up to USD 34 million to be provided by the Lender to the company. In conjunction with initial advances under the bridge loans, the company has issued to the Lender an additional 8,591,065 warrants of the company (the "Warrants"), for a total of 11,812,714 share purchase warrants issued to the Lender to date. Each Warrant entitles the Lender to purchase one common share of the company at a price of CAD 0.17 for a period of five years from the date of issuance of the Warrant. The bridge loans, which the company expects to be in the amount of up to USD 7 million, will assist the company's immediate working capital requirements and facilitate payments required to continue the development of the company's seafloor production system to be first utilized at the company's Solwara 1 Project. The loans bear interest at 8% per annum, payable bi-annually in arrears with a one year maturity date. The company will be entitled to pre-pay each loan prior to maturity, by paying 108% of the outstanding principal of the loan plus accrued and unpaid interest. Each loan will be represented by a promissory note and will initially be secured against the assets of the company through a general security agreement. The Lender may subsequently require the loan to be guaranteed by the company's material operating subsidiaries and secured against the assets of such subsidiaries. There can be no assurance that the company will be successful in concluding the larger credit facility transaction or that any further funding will be secured by the company.