Nautilus Minerals Inc. announced that it has entered into a Funding Mandate Agreement with Deep Sea Mining Finance Ltd. pursuant to which DSMF will seek to leverage the international expertise and financial relationships of Nautilus' two major shareholders to assist in advancing the development of the Company's Solwara 1 Project. The company will pay the following to DSMF: an initial retainer fee of USD 75,000 upon DSMF securing the Interim Financing, and an additional fee of USD 30,000 to be made following the initial six month period in advance of each three month period during the term of the Agreement; subject to DSMF securing the Interim Financing, the Company will make a lump sum payment of USD 350,000 as reimbursement for costs and expenses of DSMF incurred in connection with the Interim Financing, and the company will reimburse DSMF for all of its reasonable costs and expenses which may be incurred in connection with subsequent financings; a cash fee on the aggregate consideration received by the Company in a funding transaction equal to 6% in respect of equity financings, or 5% in respect of any debt financing, trade financing or other form of funding transaction during the term of the Agreement, and for a period of twelve months following its cancellation in respect of investors introduced to the company by DSMF. No fees will be payable in respect of any funds provided by DSMF or its affiliates; a cash fee equal to 1.0% of the amount raised by the company in a funding transaction arising from an unsolicited investment proposal received from a third party pursuant to the terms of the Agreement.