'$500 million in treasure likely came from a Spanish galleon'

April 18, 2008 02:43

Florida deep-sea explorers are revealing the name of the shipwreck that likely yielded the estimated $500 million (€315 million) in treasure from the floor of the Atlantic Ocean last year. It is the Nuestra Señora de las Mercedes y las Animas, a Spanish galleon than sank west of Portugal in 1804 laden with silver coins and other treasure. Odyssey Marine Exploration's announcement Thursday came in response to a federal magistrate judge's order in the company's legal fight with the Spanish government over ownership of the treasure. The company has fought to keep the suspected name secret, fearing other treasure hunters might plunder the site. The magistrate judge ordered Odyssey to come out with the name.

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