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Seafarer Exploration Corp. (SFRX)
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Thursday, September 15, 2011 2:18:38 PM
Sept. 13, 2011, 9:27 a.m. EDT
Seafarer Exploration Corp. Discovers Silver Treasure Coins at Salvage Site
TAMPA, FL, Sep 13, 2011 (MARKETWIRE via COMTEX) -- Seafarer Exploration Corp. /quotes/zigman/519398 SFRX +6.38% , a company focused on the archaeologically-sensitive exploration and recovery of historic shipwrecks, announced today that it has recently discovered a few small silver coins and pieces of coins off of Juno Beach, Florida. Seafarer has also located other interesting artifacts in the area. Seafarer, along with Tulco Resources, Ltd., has a three year permit from the State of Florida Bureau of Archaeological Research to perform recovery operations in a specified permit area off of Juno Beach.
Rachel Murrell, a diving archaeologist for Seafarer who found three of the silver coins, said, "Since receiving our salvage permit, we've approached the site from a different angle with different salvage techniques and it is beginning to pay off. We have been able to overcome obstacles and have discovered some incredible artifacts including several coins and coin pieces. I am excited to see what else our salvage site will yield in the future."
John Fitzgerald, the lead archaeologist for Seafarer, noted, "After the appropriate conservation and cleaning procedures were completed, it was determined the first silver coin found (artifact #00216) is part of a silver coin minted in Mexico between the years of 1572 and 1733. The only markings visible on the obverse side of this coin are the upper portion of the shield with the left upper box containing a castle. This castle represents the province of Castile in Spain and, along with the lion that would normally be to the right of the castle, represents the province of Leon, Spain. Together they symbolize the two provinces joining to become a united Spain. All of the Spanish Coats of Arms used as shields on the obverse side of Spanish coins, known as 'cobs,' from the year 1556 to 1746 have the castle in the upper right corner."
Fitzgerald continued, "On the reverse side of the coin one can just make out a portion of a Florenzada cross. This type of cross was only used by the Mexico mint on silver coins between 1572 and 1733. The Cruz Florenzada or 'Flowered Cross' can be identified by the ball at the pinnacle of the arms of the cross."
Kyle Kennedy, CEO of Seafarer Exploration, said, "We are pleased with the discovery of these coins and we believe that we are just getting started. Mr. Fitzgerald is studying the other coins for additional clues to help determine the history behind them. Additionally, we have located several other artifacts, including what appears to be part of the ship's tiller and a hollowed out cannonball that may potentially be an early grenade type weapon. These artifacts and others allow us to speculate that we may be retrieving items from the upper deck. We will continue working diligently to continue to explore this exciting area in an effort to further the public's knowledge of the history of the site and we look forward to our next discovery in our quest to build shareholder value."
About Seafarer Exploration Corp. ( www.seafarercorp.com )
Seafarer Exploration Corp is a publicly traded underwater salvage and exploration company. The principal business of the Company is to develop the infrastructure necessary to engage in the archaeologically-sensitive exploration and recovery of historic shipwrecks. The Company has primarily focused on efforts to locate and recover artifacts and cargo from what is believed to be a sunken Spanish galleon off the coast of the Juno Beach, Florida. Management believes that if artifacts and cargo are recovered, a portion of the recovered items will be in the form of treasure such as dated coins, gold and silver bullion, and emeralds. The company owns and operates one ship, the Iron Maiden, for exploration and digging and operates the Reward II for dredge work and mapping. Recent media coverage from May, 2011 is accessible at
Disclaimer: The press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
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