ATLANTA, May 23, 2005 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM), conducting operations through its subsidiary, Admiralty Corporation (Admiralty), announced today that Nova Marine Exploration, Inc. donated two pieces of ancient shipwreck porcelain, which were auctioned for charity at the 9th Annual Nantucket Wine Festival this weekend. They, along with a bottle of champagne, raised $2,800.00 for charity. The festival, held on Nantucket Island off of the coast of Massachusetts, is one of the region's most celebrated wine and food events. All proceeds of the auction benefit the Nantucket Historical Association. The festival was well attended and mostly sold out. Please visit their interesting web site, www.nantucketwinefestival.com.
The donated items were from a collection of shipwreck porcelain recovered by Nova Marine Exploration, a joint venture partner of Admiralty in which we hold an equity stake. The donated Ming Plate is 7.5 inches in diameter. The provenance is pure--it was produced from a kiln in China about 500 years ago and loaded onto a transport vessel, which was at the bottom of the sea until five years ago. It was stabilized after recovery and is in excellent condition. The familiar blue and white pattern achieved popularity in the European marketplace after this plate had already been in the sea for 200 years.
The donated Sung Dynasty (960-1279 CE) bowl is 6.5 inches in diameter is perhaps the highest expression of China's ceramic artistry. The monochromatic "white ware" was produced for export, then lost at sea on a ship that sunk en route to South Asia or the Middle East about 1115 A.D.. It still looks practically brand new after almost 900 years at the bottom of the sea
A lecture entitled "Rare Wines and Rare Finds -- Wine and Sung -- a Sung Dynasty Bowl and Ming Plate" was hosted by Marc Geriene, one of Admiralty's directors. The purpose of our participation was to excite the public concerning rare and valuable artifacts that are available from shipwrecks. This is part of a continuing program to build an interest and a market for items that we ultimately rescue from the sea.
Please visit www.admiraltycorporation.com for more information. In other news, photographs from Project Orange will be posted later this week on our Web site.
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 2004 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.