Treasure & Shipwreck Recovery (OTCPK

BLIS) to Begin Long-Planned, Targeted Search of Virgin Shipwrecks Outside State of Florida Waters

FORT PIERCE, Fla., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Treasure & Shipwreck Recovery, Inc. ("TSR" or "the Company"), trading as (OTCPK: BLIS), announces it will begin a focused search for virgin shipwrecks in an area southwest of Cape Canaveral beyond State of Florida waters by the end of September. The Company has contracted with a veteran consultant believed to know the estimated coordinates where several virgin shipwrecks are located with potential “Motherlode” amounts of treasure on board. TSR management believes this consultant has more data and surveying knowledge of this area than anyone in the world.

In particular, there are five shipwrecks that the Company is targeting and believed to have sunk in the targeted zone. It is estimated that each ship carries valuable cargo worth anywhere from $250 million to over $1 billion in current U.S. dollars, based on historical research and archives. Since these targeted wrecks are located outside three nautical miles from Florida off the Atlantic coast, they are not subject to any permits or sharing with the State beyond customary corporate taxes on profits. TSR’s success-based contract will provide 15% of all revenue generated from valuables recovered from specified wrecks to its consultant.

Upon discovery and confirmation of a wreck believed to contain high value cargo, TSR will immediately file for U.S. Admiralty ownership. An Admiralty Claim is a Federal Maritime Law action. TSR CEO, Craig Huffman, is an experienced attorney and litigator actively licensed in the State of Florida, and is capable of filing all the correct documents on behalf of the Company. Once TSR is granted the ownership, it is TSR’s in perpetuity so long as the wreck site recovery work is preformed.

Huffman added, “It has always been our vision to target this particular area for valuable shipwrecks, but it wasn’t until this year that we we secured the boating assets, resources, and man power to take on this project. Our experienced crew and divers are ready to launch this program, and I am sincerely excited to see what we discover over the coming months.”

It is important to understand that state-of-the art technology to find older shipwrecks did not exist before the U.S. Government banned searches in the Cape Canaveral area. For a long time, shipwreck recovery was not allowed by anyone on those sites. It is easy to understand why national security issues existed since these waters were so close to where the U.S. Government launched its satellite and space programs. Now, those areas are open to discovery and shipwreck search without restrictions.