ATLANTA, April 29, 2005 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM), conducting operations through its subsidiary, Admiralty Corporation (Admiralty), announced today that its ship, the New World Legacy, is returning to the site that it earlier arrested in international waters in the Caribbean Sea. The ship is carrying a compliment of divers to begin exploring the wreck previously code-named "Privateer." Management hopes that historically interesting and valuable artifacts will be discovered.
The New World Legacy has upgraded its survey capacity with the purchase of a Geometrics 882 magnetometer, an enhanced-range, state-of-the-art, towed detector. Our Oceanographer, Col. Russell Bennett will use the magnetometer and other detection equipment to conduct a detailed survey of the arrested area while our divers are examining the "Privateer" wreck site. We anticipate conducting search and recovery operations at the Project Orange site for most of May.
During our last visit, the area was documented from a visual standpoint before the site was disturbed, and some surface artifacts recovered. Almost 2,000 still photographs were taken, as well as several hours of underwater video footage. These images are being reviewed by marine experts at this time.
Please visit our Web site at: www.admiraltycorporation.com for more details (Click on Project Orange).
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.