With Juno Beach continuing as its primary operational site, Seafarer adds a shallow-water Gulf location as the third site in its exploration pipeline $SFRX 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. seafarerexplorationcorp.com/… #SFRX #SeafarerExploration #InvestorUpdate #UnderwaterTech #SubseaTechnology #RescueArchaeology #MarineArchaeology #ShipwreckArchaeology #NewSite #NaplesFlorida #NaplesFL #Florida

The team has been making the most of every available weather window this week. At Juno Beach, Trevor is seen recovering equipment with a lift bag at the end of a productive day in the water. As conditions changed and Gulf Stream currents strengthened, the crew shifted operations to Melbourne Beach to continue fieldwork rather than lose valuable time. The team has been on site each day despite challenging visibility in Melbourne, continuing to work within the conditions available while monitoring for an opportunity to return to Juno Beach later this week if conditions improve. You'll also see the Miss Linda on the move—transported north to support this week's operations as the crew remains focused on advancing the work wherever conditions provide the best opportunity. Field operations rarely follow a straight line. Flexibility, patience, and disciplined execution are all part of working in dynamic marine environments, and that's exactly what this team continues to demonstrate every day. #SeafarerExploration #MarineOperations #RescueArchaeology #FieldWork #SFRX $SFRX

Join Seafarer Exploration leadership for a live shareholder update on July 2 at 1:00 PM ET. CEO Kyle Kennedy will provide an update on current operations, recent field activity, and ongoing work as the company continues advancing its recovery efforts. The session will also feature filmmaker Jay Wolff, who has been documenting Seafarer's operations and team. Jay will share perspective from his recent time in the field, along with a brief preview from the latest filming visit. Date: July 2, 2026 Time: 1:00 PM ET Register to attend live: us02web.zoom.us/webinar/regi… We look forward to sharing the latest update with you. $SFRX #SFRX #SeafarerExploration #ShareholderUpdate #InvestorUpdate #UnderwaterTech