SUB Subsea Res.

RNS Number:6472H
SubSea Resources PLC
13 November 2007


SubSea Resources plc

Successful location of target vessel

SubSea Resources plc ("SubSea" or "the Company") is an AIM-listed company which
specialises in the research, survey and salvage of high value non-ferrous metals
and other valuable cargoes from deep-water ship-wrecks

The Board of Subsea is pleased to announce that the Company's survey vessel "
John Lethbridge" has located and positively identified a wreck, code-named
Audrey. This ship is located in deep water in the Eastern Atlantic, close to
project Miranda, and at the time of sinking was carrying a cargo of non ferrous
metals which are estimated to have a gross value of approximately $28m at
today's prices.

Discovery of Audrey followed three days of searching for the vessel using the
sonar equipment on board the John Lethbridge. The target was only a few nautical
miles from the theoretical sinking position, as established from contemporary
records which are held in the Company's archives.

The John Lethbridge, the Company's 75 metre long survey ship, has provided a
stable platform for these operations which are taking place in mid November and
are on-going.

The sonar, which was towed over 8 kilometres behind the ship, was able to plot
the wreck coordinates with great accuracy, allowing the Remote Operating Vehicle
("ROV") to quickly find the target, which is lying at a depth of more than 4500
metres. The ROV has provided very clear video and stills images, which will be
required to plan future salvage operations.


                                                                13 November 2007

ENQUIRIES:

SubSea Resources plc                                 Tel: 020 7495 8696
Ric Piper, Chairman
Edward Cox, Chief Financial Officer

Canaccord Adams Limited                              Tel: 020 7050 6500
Robert Finlay/ Ryan Gaffney

College Hill                                         Tel: 020 7457 2020
Gareth David



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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