Seafarer Gains "Exclusive Rights to Conduct Recovery Operations" at Juno Beach Wreck Site

TAMPA, Fla., July 19, 2021 /PRNewswire/ -- Seafarer Exploration Corp. (OTCQB: SFRX) announced today they have received from the Florida Department of State a notice of lack of authority to permit or deny recovery activities on the unidentified shipwreck on Juno Beach. The Florida Bureau of Archaeological Research (the "Bureau"), Division of Historical Resources, Florida Department of State stated to Seafarer "The shipwreck is non-permittable pursuant to Rule 1A-31.0045(2), F.A.C."

The Bureau cited an order dated November 14, 2017 where the United States District Court entered a Final Order of Court Default and Final Judgement Granting Award for Admiralty in Rem. The District Court's order ruled "Seafarer is hereby the true, sole, and exclusive owner of the Defendant Shipwrecked Vessel and having exclusive right to conduct recovery operation on the Defendant Shipwrecked Vessel and any items recovered therefrom." Additional permitting will still be necessary with the Florida Department of Environmental Protection and the U.S. Army Corps of Engineers.

Kyle Kennedy, CEO of Seafarer, stated, "I am both happy and relieved to receive this acknowledgement from the Bureau. The Bureau is stating that because Seafarer is the true, sole and exclusive owner of the unidentified shipwreck at Juno Beach given to us by the United States District Court, that they do not have the authority to grant or deny a permit for the site. Whereas we will still permit with the Florida Department of Environmental Protection and the U.S. Army Corps of Engineers, this will save us a tremendous amount of time and money as this is a process that will not have to be reviewed or renewed with the Bureau."

Mr. Kennedy continued, "We look forward to further investigation on the site and using the SeaSearcher to scan the area and help determine the origin, name and time frame of the unidentified shipwreck. Also, even though the Bureau cannot permit the site, we will try to keep them informed and up to date on our results as we are able.

Mr. Kennedy closed by saying, "Additionally, I am proud of captains John Grimm, Zach Smith and Jeff Carr as well as Megan Reynolds and Christine Jasper for completing continued educational diver coursework and receiving the Heritage Awareness Diver Certification. We continue to raise the bar and can only hope others follow our initiatives."

About Seafarer Exploration:

Seafarer Exploration Corp. is a publicly traded underwater salvage and exploration company traded under the symbol SFRX. The principal business of the company is to develop the infrastructure necessary to engage in the archaeologically-sensitive research, documentation, exploration, recovery, and conservation of historic shipwrecks. The company has secured multiple sites it believes contain historic and valuable shipwrecks. The company will use accepted archaeological methods to properly document, research and recover portions of the wrecks. Seafarer employs scientists and historians and is committed to preserving the cultural and historical significance of every wreck it finds.  www.seafarercorp.com.

Disclaimer:

The press release may include certain statements that are not descriptions of historical facts but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as ''may,'' ''expects," ''believes,'' ''anticipates,'' ''intends,'' ''projects," or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that was reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.

Media Contact:

Kyle Kennedy
(813) 448-3577
www.seafarercorp.com

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SOURCE Seafarer Exploration Corp.