Nautilus Minerals Appoints New Independent Director and Grants Loan Shares and Options

TORONTO, March 27, 2018 (GLOBE NEWSWIRE) -- Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF) (Nasdaq Intl Designation) (the "Company" or "Nautilus") announces the appointment of Mr. Jonathan Whitworth to the role of independent non-executive Director and grants loan shares and options to directors, officers and employees of, and key contractors to, the Company.

Nautilus’ Chairman Tariq Al Barwani commented, “I’m very pleased to welcome another Independent Director to the Nautilus Board. Jonathan’s offshore background coupled with his leadership experience and strategic planning will be extremely helpful as we work towards advancing the seafloor mining industry.”

Following the appointment of Mr. Whitworth, the members of the Company’s Board of Directors are as follows:

  • Mr. Tariq Al Barwani (Chairman and non-executive Director)
  • Dr. Mohammed Al Barwani (non-executive Director)
  • Mr. John McCoach (independent non-executive Director)
  • Mr. Jay Layman (independent non-executive Director)
  • Mr. Jonathan Whitworth (independent non-executive Director)

Mr. Jonathan Whitworth

Jonathan Whitworth joined Seaspan in 2009 as Chief Executive Officer, bringing over 20 years of seagoing, management, strategic planning and leadership experience to the organization. In February 2017, Jonathan announced his retirement from Seaspan effective December 31, 2017. Seaspan is an association of Canadian companies primarily involved in coastal marine transportation, shipdocking/ship escort, ship repair and shipbuilding services in Western North America.

After graduating from the Texas Maritime Academy, Jonathan sailed for six years as an officer aboard tankers and chemical carriers in the international market. He still holds an unlimited chief mate’s license and a 1600-ton captain’s license. He is one of a few shipowner and shipyard leaders in North America who has sailed at sea and commanded a vessel.

After completing his MBA at the University of North Texas, Jonathan came ashore and held a number of management positions at ExxonMobil and Teekay Shipping. He later became CEO of Maritrans Inc., the largest publicly held tug/barge and tanker operator in the US Jones Act trade. Maritrans was sold to Overseas Shipholding Group of New York, in 2006, and Jonathan was retained as President to continue the strategic plan created at Maritrans.

Jonathan is very involved in the marine and business community through board memberships with the BC Industry Training Authority, the Business Council of BC, and Texas A&M University at Galveston.

Grant of Loan Shares and Options

The Company has issued a total of 14,987,000 options to directors, officers and employees of, and key contractors to, the Company. The strike price is $0.23 and 25% of the award vests immediately with the remaining having a vesting period as to 25% every six months for a period of 18 months starting at the date of grant. The awards have a 5 year expiration period from the date of the award.

For more information please refer to www.nautilusminerals.com or contact:

Investor Relations
Nautilus Minerals Inc. (Toronto)
Email: investor@nautilusminerals.com
Tel: +1 416 551 1100

The TSX does not accept responsibility for the adequacy or accuracy of this press release.

About Nautilus Minerals Inc.

Nautilus is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits. Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The Company has also been granted its environmental permit for this site.

Nautilus also holds highly prospective exploration acreage in the western Pacific (granted and under application), as well as in international waters in the Central Pacific.

A Canadian registered company, Nautilus is listed on the TSX:NUS stock exchange and is also a member of the Nasdaq International Designation program. Its corporate office is in Brisbane, Australia. Its major shareholders include MB Holding Company LLC, an Oman based group with interests in mining, oil & gas, which holds a 29.3% interest and Metalloinvest, the largest iron ore producer in Europe and the CIS, which has a 18.5% holding (each on a non-diluted basis, excluding loan shares outstanding under the Company’s share loan plan).

Source: Nautilus Minerals Inc.