ATLANTA, Nov. 9, 2004 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM) ("Ruby''), conducting operations through its subsidiary, Admiralty Corporation ("Admiralty"), and Nova Marine Exploration, Inc., sadly acknowledges the passing last Sunday morning of a good friend and compatriot, John Doering. John was in Key West, Florida participating in planning meetings. He passed quietly in his sleep from natural causes.
For the last three decades, John was an active participant in our industry and was one of the most knowledgeable people in this field. This past September, an agreement was signed by John, Ruby and Nova Marine to arrest and recover four deep water shipwrecks for which John had spent years researching. John had expressed great excitement about the future and the prospects of the parties to the agreement working together as a team. He firmly believed that the recovery of valuable artifacts from these wrecks would prove to be worthwhile from both historical and financial perspectives.
Krist and Marc Geriene of Nova Marine Exploration, Inc. worked with John as young men and had continued the relationship with both John and John's wife, Marge. It is the intention of all involved to honor the agreement with John and to complete these projects. We know that John will be with us in spirit. As we seek to confirm John's beliefs in the results of his research on these shipwrecks, we feel that those results will stand as a tribute to John's expertise and dedication.
John was a virtual encyclopedia of experience and knowledge. He gave all who worked with him sage advice. His quiet humor was a joy. He will be sorely missed.
Please visit http://www.admiraltycorporation.com for other news.
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.