Marine Exploration Announces Dominican Republic Confirms 'Great Discovery' of 1690 Shipwreck; Treasures of Incalculable Value

Most important find since Captain Kidd's ship in 2007

Jan 08, 2010, 13:34 ET from Marine Exploration, Inc.

MIAMI, Jan. 8 /PRNewswire-FirstCall/ -- Marine Exploration, Inc. (OTC Bulletin Board: MEXP) and joint venture partner Hispaniola Ventures, LLC announce the Dominican Republic has confirmed the Company's recent discovery of a valuable shipwreck from the 1690s. The treasure includes silver coins, gold, pearls and diamond jewelry.

"A great discovery," notes Francis Soto, Technical Director of the Dominican Republic Underwater Heritage Office in a December 29 news story in Underwater Times.

"The most important find in Dominican waters since the discovery of Captain Kidd's ship Quedagh Merchant in 2007," states Wilfredo Feliz, Director of the Dominican Republic Ministry of Culture Sub-aquatic Patrimony Office in a December 30 news story in Listin Diario.

"Treasure pieces were of incalculable historical value," according to a news story in Underwater Times.

The objects found include silver coins, jewels, gold jewelry with pearls, solid gold ring with diamonds, two hand-held bronze cannons, numerous pistols and cannons, a bell from 1693 with the phrase 'Soli Deo Gloria', guild pewter plates, navigation compasses, plumb lines for measuring depth, a pistol, sword sheaths, ornaments, plates, silverware, sword handles, a device to measure the ship's speed, and bronze candlesticks.

Burt D. Webber Jr., famed diver that in 1978 discovered the Concepcion in Dominican Republic waters, is currently the onsite Director of Operations aboard the RV Hispaniola treasure salvage vessel. Mr. Webber comments, "This is such an exciting find especially to be able to salvage significant treasures of silver, gold, and valuable artifacts while the Dominican Republic government observers are onboard. My team has recovered only 10% of what's down there. We have contracted an area from the Dominicans that is literally a treasure trove of sunken vessels from the 1600-1700s. We expect to explore at least 5 more wrecks in 2010."

About Marine Exploration

Marine Exploration, Inc. and joint venture partner Hispaniola Ventures, LLC, headed by Burt D. Webber Jr., plan to continue the shipwreck site survey and salvage and anticipate locating and recovering additional historic shipwrecks with valuable artifacts and treasure. Working under exclusive contract with the Dominican Republic, the Company has plans in place to pursue multiple notable shipwrecks in Dominican Republic territorial and jurisdictional waters.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.

Prospective investors are cautioned ( that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. To see our website, go to

SOURCE Marine Exploration, Inc.