Seafarer Exploration Enters Agreement With Tom McReynolds to Evaluate Known Shipwreck Site Near Naples

TAMPA, Fla., Aug. 20, 2026 (GLOBE NEWSWIRE) -- With Juno Beach continuing as its primary operational site, Seafarer Exploration Corp. (OTC: SFRX) (“Seafarer” or the “Company”), a leader in underwater rescue archaeology and subsea discovery, today announced that it has extended its broader exploration program through an agreement with Tom McReynolds to collaborate on the evaluation and investigation of a known, documented shipwreck site in Gulf waters near Naples, Florida.

The Naples-area location becomes the third site in Seafarer’s exploration pipeline, alongside Juno Beach and Melbourne Beach. The agreement is part of Seafarer’s broader business plan to develop multiple qualified sites that can be evaluated and worked as weather, currents, visibility, and other operating conditions allow.

“This is a continuation of our business plan to develop as many quality sites as possible,” said Kyle Kennedy, Chief Executive Officer of Seafarer Exploration. “Juno Beach remains our primary operational priority, and adding this location does not change our confidence in or commitment to Juno. It gives us a third site and greater flexibility to keep our team, vessels, and technology working when conditions at another location are unfavorable.”

According to information provided to Seafarer, prior archaeological work at the location identified ballast stones, spikes, musket balls, cannonballs, two cannon, and pottery. Preliminary information also indicates that the site is believed to lie in less than 20 feet of water, may offer favorable visibility, is not subject to Gulf Stream conditions, and has not shown the hardened teredo crust encountered at some other Florida shipwreck sites.

“Those are all potentially favorable operating factors, but this remains an exploratory location, and we are at the beginning of our own evaluation,” Kennedy said. “We intend to review the available records, assess the prior work, and allow the evidence gathered through our own investigation to determine the site’s identity, archaeological significance, and appropriate next steps.”

McReynolds is the son of the late Captain Albert “Al” McReynolds, who worked the site beginning in the early 1980s and whose research and knowledge of the location were ultimately passed to his son. Captain McReynolds was also nationally known in the sportfishing community after landing a 78-pound, 8-ounce striped bass in Atlantic City in 1982, a catch that established the IGFA All-Tackle World Record at the time and remains the IGFA Men’s 20-pound-line-class World Record.

“My family’s connection to this site reaches back decades, and my father’s work there has always mattered deeply to me,” said Tom McReynolds. “I wanted the next phase to be handled by a company with the technology and archaeological discipline to investigate it properly. Working with Seafarer gives us an opportunity to preserve that history, build on the earlier work, and let the evidence determine what this site may represent.”

Under the agreement, McReynolds will contribute his knowledge of the site and its history while Seafarer evaluates available documentation, prior findings, site conditions, and the potential application of the Company’s proprietary subsea detection and field technologies.

Seafarer has not yet made any determination regarding the wreck’s identity, age, origin, cargo, recoverable materials, economic value, or the timing or scope of future field operations.

Live Shareholder Webinar

Kennedy and McReynolds will discuss the agreement, the site’s history, the prior findings, and how the new location fits into Seafarer’s broader operating strategy during a live shareholder webinar on Friday, August 21, 2026, at 1:30 p.m. Eastern Time.

Register here:

https://us02web.zoom.us/webinar/register/WN_YEBgbN5mQpCGeEv4VMhi5Q

The webinar will also address ongoing work at Juno Beach and why expanding Seafarer’s site pipeline complements, rather than replaces, the Company’s primary operational focus there.

About Seafarer Exploration Corp.

Seafarer Exploration Corp (OTCQB: SFRX) is an underwater archaeological exploration and technology company that is innovating how underwater history is discovered, conserved, and experienced. The company has originated the practice of underwater rescue archaeology, which involves sensitive research, documentation, exploration, recovery, and conservation of historic underwater sites before they are lost to the elements forever. The company is accomplishing this with an unmatched multi-disciplinary team of world-class experts in the fields particular to underwater rescue archaeology and the development of breakthrough technologies and state-of-the-art processes essential to the unique demands of underwater rescue archaeology. For more information: https://seafarerexplorationcorp.com/

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Disclaimer

The press release may include certain statements that are not descriptions of historical facts but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.

Media Contact

Kyle Kennedy
info@seafarerx.com