ATLANTA, Oct. 29, 2004 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM), conducting operations through its subsidiary, Admiralty Corporation (Admiralty), announced today that Marc Geriene, Vice-President and Director of Nova Marine Exploration, Inc. and President and Co-Founder of Nova Ray(r), Inc., has been named to Ruby's Board of Directors.
Mr. Geriene is a co-inventor of the Nova Ray(r) ROV (Remotely Operated Vehicle) and has provided vision, leadership and direction for the Nova Ray(r) technology and market applications for both Nova Marine and Nova Ray(r). As a business owner, commercial diver and ROV operator, he brings established leadership, marketing and business development skills to the Company's efforts. Formerly Special Projects Director of Nova Marine, Mr. Geriene was critical in the development of business relationships throughout North America, the Caribbean and Asia for his company.
Marc's business acumen, experience in developing strong business relationships internationally and contract negotiation skills will be most valuable to Ruby as he joins our Board of Directors. G. Howard Collingwood, Chairman of the Board and Chief Executive Officer of Ruby stated that, "The synergies between Nova Marine Exploration and Nova Ray(r) and Ruby are tremendous. We have a wonderful opportunity to work together for the benefit of each other such that the whole will be much larger than it could have been if each worked independently."
In other news, G. Howard Collingwood, Chairman of the Board and Chief Executive Officer of Ruby has been named as a board member of Nova Marine Exploration, Inc. in recognition of Ruby's intention to establish an ownership position in Nova Marine.
Please visit http://www.admiraltycorporation.com for other news. A number of new pictures from our Key West, Florida work and pictures of the Nova Ray(r) ROV are available as well as some recent "Questions from Stockholders."
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.