Shipyard notifies Nautilus of default by major contractor
(WorldNews Canada)

TORONTO, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Nautilus Minerals Inc. (TSX:NUS) (OTC:NUSMF) (the `Company` or `Nautilus`) announces that Fujian Mawei Shipbuilding Ltd (the `Shipyard`), the owner of the shipyard where Nautilus´ Production Support Vessel (the `PSV`) is being built, has notified the Company that MAC Goliath Pte Ltd (`MAC`), the buyer of the PSV, has failed to pay the third installment of the contract price (~US$18M + interest). Under the shipbuilding contract between the Shipyard and MAC (the `contract`), MAC is required to rectify the default immediately, and perform corresponding obligations under the contract. If MAC fails to remedy the default within 21 days of the receipt...