SOURCE: Marine Exploration, Inc.

June 23, 2008 06:30 ET

Marine Exploration, Inc. - MEXP Details Its Joint Venture Partner's Successful Field Testing Operations in Immediate Preparation for Its Survey in Search of Over $100,000,000 in Sunken Treasure

MIAMI, FL--(Marketwire - June 23, 2008) - Marine Exploration, Inc., trading under stock symbol (PINKSHEETS: MEXP), is pleased to report that Burt D. Webber, Jr., at the helm of its Joint Venture Partner, Hispaniola Ventures, LLC has successfully completed field testing operations in immediate preparation for its survey for targeted sunken vessels. Operating on the well-known 1733 Capitana wreck site off the Florida Keys, Webber and his team tested and calibrated their one-of-a-kind Geometrics diver-operated cesium magnetometers and state-of-the-art Geometrics vessel towed cesium magnetometer over a two-day exercise. Taking to the water to run his Operational Director through training, Mr. Webber expressed: "It was a thrill to put the new equipment through its paces and train my team for the serious work ahead."

The exercise served to ensure the proper operational functionality of this equipment, designed to Webber's specifications, ahead of the maiden voyage of the Ocean Lady.

About Marine Exploration, Inc.

Marine Exploration, Inc. is currently pursuing two primary projects north of the Dominican Republic for which an exclusive state-of-the-art host country treasure-salvage contract is in place. Long term, the Company will explore up to fourteen more wrecks under the Dominican Contract and has plans in place to pursue additional multiple notable shipwrecks worldwide.

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.

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