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Seafarer Exploration Corp. (SFRX) To Begin Excavation Of Florida Shipwreck

|Includes: Seafarer Exploration Corp. (SFRX)

Seafarer Exploration Corp. (OTCPK:SFRX) to Begin Excavation of Florida Shipwreck

On June 20, Seafarer Exploration announced that the company would begin the excavation of a shipwreck located off the coast of Florida, specifically near Lantana Beach. It is believed that the ship is of French or Spanish origin from the late 1600s, based on items previously retrieved from the site.

Seafarer, a publicly traded underwater salvage and exploration company, is focused on the archaeology and research of historic shipwrecks. The main function of the company is to develop the infrastructure necessary to engage in the archaeologically-sensitive research, documentation, exploration, and recovery of historic shipwrecks. In addition to the Lantana Beach wreck, Seafarer is attempting to secure other sites it believes may contain historic shipwrecks.

The excavation, beginning on June 20, 2013, is the result of a five-year approval process. The permit has been granted by the U.S Army Corps of Engineers, and an underwater easement agreement from the Board of Trustees of the Internal Improvement Trust Fund. The site has been surveyed using a Geometrics 882 Cesium Vapor Magnetometer; the survey work exhibited evidence that a large part of the ship lies buried in a relatively compacted area. Seafarer is in phase II, which consists of digging out and identifying the wreck.

Kyle Kennedy, CEO of Seafarer, said, "We wish to thank all of the U.S. Army Corps of Engineers personnel, especially Melody White, who worked diligently on our permit until it was completed. With the final step in place, including the easement, we can now begin to focus our efforts on discovering the wreck site. We understand the great responsibility placed upon us and will strive to do our best and to exceed expectations."

Alexander Javorsky, captain of the Iron Maiden, added, "We have the ship fine-tuned and operating very smoothly. We have assembled a competent, honest crew ready to work, which I am proud to be part of. The excitement of the crew is overwhelming, and we are eager to begin excavation."

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