Nautilus Minerals Inc. announced that it has entered into a loan agreement with Deep Sea Mining Finance Ltd. formalizing the previously disclosed secured structured credit facility of up to $34 million. The Company, and its wholly-owned subsidiaries Nautilus Minerals Niugini Limited (NMN) and Nautilus Minerals Pacific Pty Ltd. (Nautilus Pacific), entered into the loan agreement with the Lender (the Loan Agreement), pursuant to which the Company may continue to receive secured loans from the Lender to fund the Company's working capital requirements and enable the Company to continue the advancement of the Solwara 1 Project while the Company seeks, with the assistance of its financial advisors, the remaining project financing of up to $350 million required to complete the development of the Solwara 1 Project. Pursuant to the Loan Agreement, the company may draw loans, on a monthly basis, which shall bear interest at 8% per annum, payable bi-annually in arrears. Advances of loans will be subject to, among other things, the Lender's ongoing review and approval of the Company's monthly operational budget. To date the company has received bridge loans from the Lender in the aggregate principal amount of $11,250,000. These existing loans have now become loans made under, and subject to the terms of, the Loan Agreement, leaving up to $22,750,000 in additional loans that may be advanced under the Loan Agreement. All loans have a maturity date of January 8, 2019 (being one year after the date that the first bridge loan was made). The company will be entitled to pre-pay, in whole but not in part, the loans at any time prior to maturity, by paying 108% of the outstanding principal of the loans plus accrued and unpaid interest. The loans are secured against the assets of the Company through a general security agreement granted by the Company in favour of the Lender, along with a pledge of all the shares held by the Company in its subsidiary NMN.