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TICKER: SFRX

    OS Shares: 735.M a/o Nov 13, 2012

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, documentation, 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 ship off the coast of 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. Additionally, the company has also been mapping and surveying their second site off of Lantana Beach, Florida, with positive results.

Seafarer Exploration Corporation (“Seafarer”) is a publicly traded (OTCQB: SFRX) underwater salvage and exploration company. The principal business of the company is to engage in the archaeologically-sensitive exploration, documentation, and recovery of historic shipwrecks with the objective of exploring and discovering Colonial-era shipwrecks for future generations to be able to appreciate and understand.  Seafarer currently has two different wreck sites under permit with the State of Florida and one wreck site under contract with a private party and is working closely with the Florida Department of Historical Resources and the Florida Bureau of Archeological Research to research and document these, and additional, wreck sites.

On February 13, SFRX announced that they have finalized an agreement with Heartland Treasure Quest LLC (HTQ) for a third treasure site. HTQ has surveyed, explored, and researched the site and historical archives for over a decade. Seafarer will now start the application process for another salvage permit.

On February 21, SFRX announced that they have completed phase I on a shipwreck site located near Lantana Beach, FL and are moving into Phase II, a dig and identify permit which allows Seafarer to dig and determine various artifacts to help identify the ship. The final phase of excavation will be Phase III, full salvage.

SFRX CEO, Kyle Kennedy stated "While we have dig sites currently under permit, the Lantana Beach site represents one of our more intriguing ventures. In many cases historic shipwrecks are spread out over wide areas which can cause exploration and recovery to be very time consuming and expensive but this particular site looks very compact. We are very excited by what we discovered in Phase I and are eagerly anticipating Phase II which will begin immediately after obtaining our Department of Environmental Protection and US Army Corps of Engineers permits."

One of the historical shipwreck sites that Seafarer has worked in the past is located off of Juno Beach, Florida. A number of interesting artifacts have been located at this wreck site and based on these finds the Company theorizes and speculates that a Spanish ship from the late 1500s that may have broken up either partially or in its entirety on the site. Exploratory work must still be done to substantiate its country of origin and to determine both the extent of the wreck and whether or not it was carrying valuable cargo.

Another historic shipwreck site that Seafarer has recently been permitted to explore is located off of Lantana Beach, Florida. Based on technology that has been used at the site called a Cesium Vapor Magnetometer Survey the Company believes that this potential historic shipwreck may be located in a very compact area buried under sand in shallow water, as opposed to spread out over many miles, which is common.

Seafarer also recently signed an agreement with a private party to explore a purported historic shipwreck site located off of the East Coast of Florida north of the Melbourne area.  This particular wreck site was previously mapped and explored by third parties and the Company believes that there is evidence that there is the possibility that a ship wreck from the late 1600s may be located in this area.

Seafarer is also in the process of researching and vetting additional potential ship wreck sites on the East Coast of Florida that it hopes to potentially explore in the future. Seafarer believes very strongly that the cultural and historical value of these historic shipwrecks is of immense importance historically. The Company is committed to helping future generations to be able to learn about and study these ship wrecks.

 

Make Sure SFRX is on your trading radar screens this week!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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