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."