Visa Gold Explorations Inc. - Spanish Galleon Expert To Join Advisory Board

Business Wire, June 11, 2001

Business Editors

TORONTO--(BUSINESS WIRE)

Visa Gold Explorations Inc. (CDNX: YVL) is pleased to announce the appointment of R. Duncan Mathewson III, Ph.D. to the Advisory Board for Visa Gold.

Dr. Mathewson is a well-recognized authority in Historic Shipwreck Archaeology and the research of 16th and 17th Century Spanish galleons. Dr. Mathewson was instrumental in helping Mel Fisher locate the main treasure of the Atocha in 1985, one of the most famous shipwreck finds in modern history.

Dr. Mathewson has a Ph.D., a Masters of Anthropology and is a professor in the College of Undergraduate Studies at The Union Institute, Miami, Florida specializing in Maritime Archaeology. Since 1988, Dr. Mathewson has been the Executive Director of the Educational and Research Organization, National Center for Shipwreck Research. Over the last 25 years, he has written a number of books and conference papers on his many years of archaeological study of the Nuestra Senora de Atocha wreck site. Dr. Mathewson is currently consulting on numerous projects and historic shipwreck sites dating from the 1700s, such as the Nuestra Senora de Atocha and Santa Margarita (1715 Spanish Fleet) and the Henrietta Marie (1733 Spanish Fleet).

"We are extremely honored to have someone with such a depth of industry experience and who played a key role in a major discovery and salvage operation. Dr. Mathewson's vast education and research in marine archaeology, coupled with his first-hand experience working with historical artifacts and finds, will be of significant value to Visa Gold Explorations," stated Paul Frustaglio, President of Visa Gold Explorations Inc.

ABOUT VISA GOLD EXPLORATIONS INC.

Visa Gold Explorations Inc. is party to a joint venture agreement with its Cuban partner, Geomar S.A., to search for shipwrecks in the coastal waters of Cuba. In August 2000, Visa Gold announced the discovery of the Palemon, a Spanish Brigantine ship from the 1800's. To date, over 7,000 artifacts have been recovered.

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.