The 2008 exploration program will comprise a minimum of 165 days, with four 30-day extension options at Nautilus' discretion. Field work will focus on Nautilus' 100% owned tenements in Papua New Guinea ("PNG") and Tonga, using the proven equipment spread and techniques employed in Nautilus' highly successful 2007 exploration program.
Nautilus' CEO, Steve Rogers, commented: "The vessel Nor Sky provides the perfect platform for our 2008 exploration and development program. We are extremely excited about our ability to delineate seafloor massive sulphide systems and the prospects for adding to our project pipeline. Last year we discovered four new systems and drilled out the Solwara 1 deposit. This year, Nautilus' shareholders will see aggressive exploration over most of our 155,00km² granted titles through our Nor Sky 08 program, and the other programs currently being undertaken by Teck Cominco Limited in both PNG and Tonga. We look forward to reporting on the results from these programs during the course of the year."
Nor Sky departing Singapore June 25, 2008.