Deep Blue Marine's Archaeologist Releases Findings on Coin and Hasp.

KEY WEST, Fla. -- Mr. Wilf Blum, President and CEO of Deep Blue Marine Inc. (Pink Sheets: DPBM), announces more findings on the two objects recently recovered by divers. After conservation efforts, Dr. Robert Baer, marine archaeologist, believes the coin to be a Spanish, Eight Real, Pillar and Wave coin minted at the Potosi Mint. Potosi - 'the Mountain of Silver' - was located in the Spanish Colonial Vice-Royalty of Peru. Spanish mining operations at Potosi began in 1546; the mountain is still producing silver. The coin bears the imprint 'PH', indicating that the coin was minted during the reign of Philip IV, who reigned from 1621 to 1665. The reign of Philip IV is considered by historians to mark the beginning of the long and gradual decline of Spanish Colonial power in the Americas. The date of this particular coin is obscured and will undergo additional conservation in an attempt to retrieve the date. However, even without a legible date the period in which the coin was minted can be narrowed. The 'P' strike designating the Potosi mint, the Pillar and Wave design and the 'PH' struck between the two crowns that sit on top of the pillars indicate that the coin is of a post-1653 strike. The first Pillar and Wave coins were minted at Potosi in 1652 and Philip IV died in 1665, thus this coin dates somewhere in the twelve-year period from 1653 to 1665.

The second artifact discovered near the above-described coin is an object believed to be a metal hinge, possibly from a wood or metal box or case. Adhering to one end of this object is a raindrop-shaped yellow material that has been determined through analysis to be gold. The shape of the gold presumes that the source of the gold was once in a molten state and thus became attached to the metal object, perhaps in the course of a fire.

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