Seafarer Exploration Corp Announces Renewal of Melbourne Beach Shipwreck Site Permits Through 2027

Renewal permits awarded for advancing underwater archaeology efforts

TAMPA, Fla., March 28, 2024 /PRNewswire/ -- Seafarer Exploration Corp (OTCQB: SFRX), a leader in the field of underwater exploration and technology, is pleased to announce the renewal of two important permits, 1A-31 Exploration Permit No. 2016.05 and 2014.04, in Melbourne Beach, Florida. These two permit areas along the coastline North of the Sebastian Inlet contain material from at least two colonial-era shipwrecks. These permits, along with their amendments, allow Seafarer to continue resolving these sites, recover diagnostic artifacts, and perform test excavations at the "Ring Site" shipwreck.

The Florida Bureau of Archaeological Research entered into the renewal of these permits, allowing Seafarer Exploration Corp to press forward with its mission to rescue the maritime history buried beneath the waves. In addition to these recently renewed permits, which are effective until March 2027, Seafarer's Department of Environmental Protection (DEP) Easement "permit" and the United States Army Corps of Engineers (USACOE) permit remain valid through June of 2025, providing a solid foundation for Seafarer's exploration and conservation efforts.

This significant milestone comes after nearly three years of negotiations with the State of Florida and represents a pivotal moment for the company's continued archaeological work at these historic shipwreck sites.

Tim Reynolds, Seafarer Exploration's Chief Technologist, expressed his enthusiasm for the permit renewal, stating, "These permits represent some of the best collaborative work yet between Seafarer Exploration and the State of Florida by combining cost-effective exploration with maintaining high archaeological standards. The Melbourne site can only be resolved by recovering diagnostic artifacts. These permits provide the mechanism to accomplish this in a timely and efficient manner."

"The approval of these permits is a testament to our team's dedication and hard work. It underscores our commitment to responsible archaeological exploration and the preservation of underwater cultural heritage. Every artifact that is discovered, recovered, and conserved under this and other Seafarer Exploration permits is saved from inevitable erosion and deterioration that puts them at risk of being lost forever," explained Kyle Kennedy, CEO of Seafarer Exploration Corp. "Our commitment to continuous innovation is revolutionizing how the location, depth, size, and composition of buried objects are determined. This dramatically reduces the time and resources required to explore a site while enabling surgical underwater archaeological investigations."

About Seafarer Exploration Corp

Seafarer Exploration Corp (OTCQB: SFRX) is an underwater archaeological exploration and technology company that is innovating how underwater history is discovered, conserved, and experienced. The company has originated the practice of underwater rescue archaeology, which involves sensitive research, documentation, exploration, recovery, and conservation of historic underwater sites before they are lost to the elements forever. The company is accomplishing this with an unmatched multi-disciplinary team of world-class experts in the fields particular to underwater rescue archaeology and the development of breakthrough technologies and state-of-the-art processes essential to the unique demands of underwater rescue archaeology. For more information: https://seafarerexplorationcorp.com/

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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Media Contact:
Kyle Kennedy
(813) 448-3577

SOURCE Seafarer Exploration Corp.