Admiralty Holding Company Finds Gold

DOUGLASVILLE, GA, Aug 17, 2006 (MARKET WIRE via COMTEX) -- Admiralty Holding Company (OTCBB: ADMH), Admiralty Corporation announced today that it has recovered a gold bar that it believes may be part of the lost cargo of the Senora de la Regla, the "Capitana" of the famous 1715 Fleet. The gold bar is plainly marked with the stamp of the King of Spain, Felipe V, as well as Tax Stamps. The bar was marked "XIX" indicating a purity of 19 Carats and weighs approximately 22 troy ounces. It is approximately 6 inches long by 1 inch wide and 3/4 of an inch in thickness. "We believe that this bar is from the 1715 Fleet, based on its markings and the location where it was recovered," Admiralty CEO G. Howard Collingwood said. He continued, "We are very excited with this find and feel that it is a strong indication that we are on the trail of the Regla. We are continuing to survey and explore in the area where we recovered the bar and we expect to find additional treasure."
The bar is believed to be historically significant as one of a limited number which were so marked and have been found in the area where the 1715 Fleet wrecked. Consequently, the bar should have an artifact value far in excess of its bullion (intrinsic) value. In addition to the gold bar, other items were recovered and are currently being cleaned and evaluated.

More information concerning Admiralty and the 1715 Fleet may be found at our web site, http://www.admiraltycorporation.com, as well as photographs of the gold bar and other interesting artifacts which have been recovered and photographs of our ship and crew.