Mining (Admiralty) - Press Release -April 29,
Ruby Mining Company Returns
to Shipwreck Site
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 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