SOURCE: Deep Blue Marine, Inc.

Deep Blue Marine, Inc.

September 02, 2010 09:30 ET

Deep Blue Marine, Inc. Receives Go Ahead for Recovery on Permitted Site

SALT LAKE CITY, UT--(Marketwire - September 2, 2010) - Deep Blue Marine, Inc., (PINKSHEETS: DPBE), announced today that the company has received the requested recovery authorization on the sites it is currently contracted. Deep Blue Marine, Inc. previously signed an agreement to provide services in the area of survey and recovery of artifacts for an undisclosed permitted area on the north shore and has been doing so under the auspices and as specified in its contract with the Government of the Dominican Republic, and working under the supervision of the Marina de Guerra Dominicana and an inspector from the Oficina Nacional de Patrimonio Cultural Subacuatico. This recovery authorization has been awarded as the result of major historical finds in the contract area. 

The location of the find will not be released to the public at this time, but company vessels will be onsite until the recovery is deemed completed.

Wilf Blum, President and CEO, stated, "Captain Billy and his crew are to be commended for the professional manner in which they have conducted this survey and the recovery so far. To date the divers have recovered more than 120 silver coins, silver discs varying in size from two pounds to twelve pounds, ship's fittings and some gold jewelry pieces. Artifacts date to the early colonial period and are now being turned over to the government. Although this looks like a very promising site, and all indications are pointing to a very successful recovery of substantial and important artifacts, we are not yet prepared to name the ship or even the origin as we have found links to three possible countries of origin. Shareholders are advised that a recovery site has now been opened, however no major structure has been found. We have found well over 220 artifacts including ships fittings, weapons, and coins, but no structure. Even though we are highly encouraged by these finds, there is no definitive proof that there is a shipwreck structure in this area. The authorization allows us to now excavate the entire area and recover whatever artifacts we find. The recovery is under the direction of Alejandro Selmi, our senior staff archaeologist."

Mr. Blum went on to say, "As always, investing in this type of venture is very risky and no one should invest in this type of venture if they cannot safely tolerate that risk."

Journalists and individuals seeking interviews are encouraged to contact Mr. Randy Champion at Deep Blue Marine's head office in Salt Lake City, Utah, phone 801-568-1873, cell 801-631-9104 or e-mail at media@alldeepblue.com. All media will be directed through Mr. Champion.

For more information on Deep Blue Marine, Inc. (DPBE) go to www.alldeepblue.com  

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact Information

  • Contact:
    Deep Blue Marine, Inc.
    801-201-4691