SOURCE: Deep Blue Marine Inc.

Deep Blue Marine Inc.

February 26, 2009 15:35 ET

Deep Blue Marine Update

SALT LAKE CITY, UT--(Marketwire - February 26, 2009) - In an effort to keep shareholders updated with progress of the company, Deep Blue Marine Inc. (PINKSHEETS: DPBE) management today confirmed that the research and recovery vessel "Capt N Tracy" is approximately 7-10 days from leaving dry dock and returning to work. All maintenance has been completed and the new blower is nearing completion.

All video and photo files have now been edited and stored and are prepared for archives. Work is progressing on the new website and it will be live shortly.

Gold and Silver buying has increased and the company has entered into an agreement to borrow funds from Wilf Blum, President and CEO of Deep Blue, to continue purchasing gold and silver. 66% of all profits will be returned to the company to cover overhead and to build a reserve of gold and silver for the company. The remaining 34% will be used to purchase shares from the market for the employee benefit program of the company. The company is currently earning about $10,000 per week from the gold purchasing program. The original funds to purchase the gold were lent to the company by Wilf Blum at 0% interest and those funds will stay in the treasury until such time as they can be repaid without an impact on the buying program.

Wilf Blum had this to say, "It is my sincere hope that this program can offset the operational shortfalls that have been an ongoing problem for Deep Blue. We are doing very well in our buying program and have so far purchased several thousand dollars worth of metal. By law we must hold them for 30 days before we can turn them into cash, but after the first 90 days we think we will be in a position to cover our entire operational out lay from the purchase and resale of these metals. The metals are purchased at our office and then stored in safe deposit boxes at the local bank. After the required holding period they are converted to cash at a very substantial profit."

The company is also currently featured as a local business of interest on numerous movie screens in the Salt Lake area. The feature is a three minute video about Deep Blue Marine that runs before every movie is played. Randy Champion, Vice President and Media Director, was able to place the local interest news story for Deep Blue at no cost to the company.

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