Admiralty confirms shipwreck

[6shippers]

Project Orange Underway - http://www.admiraltycorporation.com


Ruby Mining Company Confirms Shipwreck

ATLANTA, April 6, 2005 (PRIMEZONE) -- Ruby Mining Company (OTCBB:RUBM), conducting operations through its subsidiary, Admiralty Corporation (Admiralty), announced today that its ship, the New World Legacy, and Corazon a' Corazon's ship the Corazon Grande are on site in the area where Admiralty recently arrested a wreck site for a ship thought to be from the sixteenth or seventeenth century. The cannon pile has been located and the site is being filmed and documented. A large number of artifacts have already been found.

The Company is receiving numerous requests from shareholders and other interested parties for more detail on this project, which Admiralty has code named "Project Orange". More information will be released in due course and we will establish an area on our website with more information. Pictures from the site are expected to be available next week. The examination of historic wreck sites is best accomplished in an orderly protocol. After the site is protected with an arrest, it should next be mapped and documented. An attempt to identify the ship through an examination of artifacts and archival research would then follow. It is most important that proper efforts are made to discover and authenticate the ship's identity and history as well as to protect and preserve the artifacts.

We are proceeding with deliberate haste and care and will share information as it is confirmed and at the appropriate time.

Please visit our website at: 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.

CONTACT: Ruby Mining Company
G. Howard Collingwood, COB & CEO
(404) 231-8500
www.admiraltycorporation.com
www.macreport.net

 

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[old man]

I read that Admirality no longer had a contract with the Government of Jamiaca. Is this the same territorial waters?

 

[6shippers]

I am pretty sure they still have a contact with the Jamiacan government. Do you have a link at all where you saw this? - This recent arrest by admiralty and corazon is in the caribbean

 

[old man]

I read it on the Mel Fisher Forum. Jim Sinclair made the post on 3/30/05. He posted the newspaper article on the site.

 

[6shippers]

From the Admiralty Website

What is Admiralty?s position on the Pedro Bank Project in Jamaica? (March 31, 2005)
We are not abandoning the Project in any way. The construction of the Conservation Laboratory continues with Admiralty paying for the building materials. Our relationship with the Jamaican Coast Guard (JDF), Fisheries, the Maritime Authority, the Maritime Institute (we have cadets on board the New World Legacy doing training), JAMPRO and the Jamaican Government is excellent. We have strong support from our Jamaican shareholders, some of which are very influential. Certainly our relationship with the Jamaican National Heritage Trust (JNHT) is strained. We will work to improve this.

The pace of doing business in Jamaica is a bit more relaxed than we had anticipated. We are late with the ATLIS?. We had felt that it would be possible to perform work such as ship identification without the ATLIS? being available or the laboratory being completed. This has been a larger issue than we anticipated. In the interim, the New World Legacy sat. We made a business decision several weeks ago that we must go to work, either in Jamaica or elsewhere. We tried hard to move in Jamaica, but is has not happened yet. The other work came into place. Therefore, we are going to work elsewhere at this time.

We have done significant work on the Pedro Bank Project. We are not about to abandon this opportunity. If a more leisurely pace is needed, so be it. The wrecks have been buried over 300 years; a little more will not hurt. It is most important, however, that we do useful work and not just wait. We are doing that and will return when everything is in place so we can proceed without delays. Our goal is to have a range of work sites, not just one.