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Sovereign Exploration Associates International, Inc. Announces Update of Fantome Cove Recovery Efforts Newtown, PA. September 18, 2006: Sovereign Exploration Associates International, Inc. (“Sovereign”) (OTC BB: SVXA), a company with portfolio investments in maritime artifact exploration, discovery, and recovery, announced that its wholly owned portfolio company, Artifact Recovery and Conservation Inc. (ARC), completed its Fantome Cove reconnaissance efforts under a Class A permit on September 1, 2006. “ARC’s sensing identified two very large concretion fields.” said Captain Robert MacKinnon, President of ARC. “Our divers observed flatware, artifacts, ship fittings and thousands of coins in the concretions. While our science team has not positively identified the vessels on the site, the new data combined with last year’s recoveries under our 2005 Class B recovery permit clearly establish the site as one of significant historical importance.” ARC was notified on August 31, 2006 by the Nova Scotia Tourism, Culture & Heritage, Heritage Division, that its application for a Class B recovery permit for the Fantome Cove treasure trove site has not been approved. A Class B permit is required before ARC can make any substantial recoveries from the site. The Department has recommended that ARC and its project partner, Le Chameau Explorations Limited, secure permission from the United Kingdom. One of the ships on the site is believed to be the HMS Fantome, a British naval vessel lost in 1814, although ARC has not confirmed the Fantome’s identification. ARC’s management and counsel are confident that the admiralty and treaty laws governing the site will substantiate ARC’s and Le Chameau Explorations Limited’s interest as license holder. ARC management does understand the sensitivities and historic importance of the site and has developed plans to coordinate the recovery of the site with Canada, the United States and the United Kingdom. “The historical importance of the Fantome and associated vessels to the United States, the United Kingdom and Canada must be addressed.” “We believe ARC can utilize top science and a well structured collaboration to be the first commercial company to coordinate a historic recovery of this significance with the cooperation and support of multiple governments, ” said Robert Baca, President and Chief Executive Officer of Sovereign. “ARC and Le Chameau Explorations have always intended to secure the involvement of all three parties once the site was positively identified to contain the Fantome. The events of the past weeks will require ARC and Le Chameau to take action on these fronts in advance of a positive identification of the vessels on the site” The area in question is the reported final resting site of the small fleet of ships that sank in 1814 with a cargo of spoils from the sacking of the White House, the Capitol, and the Treasury in Washington, D.C. during the War of 1812. The fleet was made up of the HMS Fantome, a British frigate, and two seized commercial vessels: the Industry and Perseverance. Geological and geophysical investigations of the nearshore area were conducted in support of archeological surveys and excavations to determine if the objects found within the cove were part of the cargo on the fleet and the extent of the artifact distribution. About Artifact Recovery and Conservation, Inc. Artifact Recovery and Conservation Inc. (ARC) undertakes maritime artifact exploration, discovery, and recovery initiatives focused on shipwrecks dating from 1500 to 1900 for museums and private parties interested in commissioning artifact recovery. ARC generates revenue from artifact recovery and by contributing its research findings to a variety of ARC produced multimedia projects that include books, movies, and CD-ROMs. The company operates with licenses and finders’ rights granted by government authorities and has protected access to the largest identified and located grouping of valuable shipwrecks in the world. For more information, visit www.sea-int.com/HistoricDiscoveries.asp. About Sovereign Exploration Associates International, Inc. Sovereign Exploration Associates International, Inc. (OTCBB: SVXA) is a business development company under the Investment Company Act of 1940 that has investments in shipwreck exploration and recovery companies. For more information, visit www.sea-int.com. Contact: Sovereign Exploration Associates International, Inc. Curtis R. Sprouse, COO 781-246-7512 Fax: 781-245-7774 csprouse@sea-int.com www.sea-int.com |
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| aus der Diskussion: | SOVEREIGN EXP. Totalverlust oder die Chance schlechthin ? |
| Autor (Datum des Eintrages): | Andreito (25.09.06 22:00:12) |
| Beitrag: | 65 von 65 (ID:24195771) |
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