Nautilus Minerals Inc. announced that it has obtained an order of the Supreme Court of British Columbia providing the Company protection from its creditors pursuant to the Companies Creditors Arrangement Act so as to enable Nautilus to restructure its business and financial affairs. Shortly prior to the Company's application for protection under the CCAA, the Company received a loan from Deep Sea Mining Finance Ltd. (the "Lender") in the principal amount of $750,000 (the "Loan") under the previously announced loan agreement, as amended (the "Existing Loan Agreement"), between the Company, two of its subsidiaries and the Lender which provides for a secured structured credit facility of up to $34 million. The Initial Order also authorized the Company and two of its subsidiaries to enter into a new Interim Loan Agreement with the Lender, pursuant to which the Lender has agreed to advance to the Company up to $4 million to fund the Company's ongoing operations and restructuring.