One of the historical shipwreck sites that Seafarer has worked in the past is located off of Juno Beach, Florida. A number of interesting artifacts have been located at this wreck site and based on these finds the Company theorizes and speculates that a Spanish ship from the late 1500s that may have broken up either partially or in its entirety on the site. Exploratory work must still be done to substantiate its country of origin and to determine both the extent of the wreck and whether or not it was carrying valuable cargo. Archaeologists from SFRX are continuing to investigate the archives in Spain, France, and Cuba for further information about this shipwreck.

Seafarer also recently signed an agreement with a private party to explore a purported historic shipwreck site located off of the East Coast of Florida north of the Melbourne area.  This particular wreck site was previously mapped and explored by third parties and the Company believes that there is evidence that there is the possibility that a ship wreck from the late 1600s may be located in this area.

Seafarer is also in the process of researching and vetting additional potential ship wreck sites on the East Coast of Florida that it hopes to potentially explore in the future. Seafarer believes very strongly that the cultural and historical value of these historic shipwrecks is of immense importance historically. The Company is committed to helping future generations to be able to learn about and study these ship wrecks.

It should be noted that the exploration and recovery of historic shipwrecks as a business model is speculative and risky, can be physically dangerous, and is expensive and time consuming. Seafarer is attempting to increase the probability of success and to potentially grow shareholder value by increasing the number of quality researched historic shipwreck sites and by recruiting successful proven veterans experienced in the arts of conservation, preservation and research.  Seafarer’s goal is to set the standard in education, conservation, and documentation of historic wreck sites for future generations.