ATLANTA, Aug. 23, 2004 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM) ("Ruby"), which conducts its operations through its subsidiary, Admiralty Corporation ("Admiralty"), has announced that its ship, the New World Legacy, is enroute to the Florida Keys to survey two locations which have been permitted by GCS Technologies, LLC. Ruby will be paid for its services and will receive a percentage of anything, which may subsequently be recovered as a result of items located during the survey.
Ruby will utilize its state of the art survey equipment and metal detection equipment to locate wrecks, which may lie in the permitted areas. GCS will utilize its sensing equipment to locate valuable historical artifacts. The combination of GCS's technologies and the advanced survey equipment on the New World Legacy should provide a very valuable, search tool. CEO, G. Howard Collingwood stated, "It will be most interesting to see how well the GCS sensing technology performs. We are continuously seeking to expand our base of technologies and adding technology options is always of great interest to us." GCS's proprietary technology involves several substance detection physics principles that are incorporated into air, water and land based remote sensing operations with a view to identifying ferrous and non-ferrous metals, gemstones, historical artifacts, crude oil, natural gas and radioactive elements. The GCS technology system utilizes proprietary and non-proprietary technologies that are integrated to provide a more comprehensive, cost effective, and less laborious/time consuming approach to finding targeted materials.
In other news, Ruby has filed two additional, permanent patent applications for the following provisional applications:
1. U.S. Provisional Application No. 60/490,315 A Method for
Synchronous Detection of a Pulsed Signal.
and
2. U.S. Provisional Application No. 60/490,344 Methods and Systems
for Modulating Electromagnetic Field Direction for Enhancing
the Response of Electromagnetic Detection Systems
These two patent applications were filed with the U.S. Patent office by Kilpatrick Stockton LLP, our Intellectual Property legal counsel.
A new feature, "Questions from Shareholders" has been added to our website. Please pay us a visit. www.admiraltycorporation.com
Forward-Looking Statements Caution:
This release contains "forward looking statements." Such statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements are based on expectations, estimates and projections that involve a number of risks and uncertainties (some of which are described in the Company's Annual Report for 2003 on Form 10-KSB filed with the SEC) which could cause actual results or events to differ materially from those anticipated. Ruby does not undertake to update any of its forward-looking statements that may be made from time to time.