Seafarer Enters into LOI

NEW YORK--(BUSINESS WIRE)-- Seafarer Exploration Corp. (OTCBB: SFRX) is pleased to announce today they have entered into a letter of intent to acquire an undetermined percentage of Anchor Research & Salvage, S.R.L. (www.arsdr.com) The terms of the transaction will be released upon the completion of due diligence by both companies and a signed Definitive Agreement.

Kyle Kennedy, CEO for Seafarer (www.seafarercorp.com), stated, “After having multiple meetings with Mr. Pritchett, and personally inspecting his lease area, we are looking forward to working with him. Mr. Pritchett has done extensive diving and research on historical shipwrecks in his permitted area. He has been professional in his documentation and is an expert in his arena.”

Robert H. Pritchett III, President of Anchor Research & Salvage, S.R.L. stated, “After the last few weeks of due diligence and several days of meetings, I fully understand the value of the talent and the capability of Mr. Kennedy and Seafarer as an ally. By combining with Seafarer we can create a stronger infrastructure and ultimately help build shareholder value, which in turn will help us capitalize and succeed in our industry.”

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 were 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 expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.