Deep Sea Rare Minerals, Inc. Announces NOAA Determination of Full Compliance for Subsea Critical Mineral Exploration License Application

MOUNT PLEASANT, SC / ACCESS Newswire / March 31, 2026 / Deep Sea Rare Minerals, Inc. (“DSRM” or the “Company”), the parent company of autonomous underwater vehicle operator and subsea survey company Deep Sea Vision, LLC (“DSV”), today announced that the National Oceanic and Atmospheric Administration (“NOAA”) has deemed its Subsea Critical Mineral Exploration License Application, originally filed on August 29, 2025, to be in full compliance under the Deep Seabed Hard Mineral Resources Act (the “Act”).. NOAA also reconfirmed that the Company has priority of right in NOAA’s application process for the exploration areas covered by its application.

“Full Compliance” signifies that the application meets the core requirements of the Act and its regulations, thereby preserving the Company’s “priority rights” over the requested seabed exploration areas.

DSRM has requested exploration rights covering approximately 150,000 square kilometers of seabed area located in the Central Pacific Ocean’s Clarion-Clipperton Zone (“CCZ”), as well as areas in the Western Pacific Ocean near the island of Guam.

Tony Romeo, DSRM’s Founder and Chief Executive Officer and a former U.S. Air Force Intelligence Officer, stated:

“Obtaining full-compliance status with our NOAA application is a meaningful milestone for our Company. This milestone continues our priority of right in NOAA’s application process for our requested exploration area and allows us to continue planning for a 2026 exploration survey and sampling program, as well as longer-term evaluation work relating to future resource estimates, reports, and feasibility studies. Our momentum in the polymetallic mineral exploration space continues to build. These efforts align with the U.S. government’s recent focus on offshore critical minerals, including the April 24, 2025 Executive Order, Unleashing America’s Offshore Critical Minerals and Resources. We remain committed to contributing to the responsible development of critical mineral supply chains that support America’s economic and national security.”

As a result of NOAA’s determination of full compliance, the Company’s application has advanced to the certification stage of the review process. Pursuant to NOAA’s regulations, the agency will endeavor to complete certification within approximately 100 days following a determination of full compliance.

After certification, NOAA may proceed with a proposal to issue the exploration license, including Federal Register notice, at least a 60-day public comment period, and required public hearing procedures. Any exploration license would be issued only after NOAA completes those remaining procedural steps and makes the required determinations about Deep Sea Rare Minerals, Inc.

Deep Sea Rare Minerals, Inc. (“DSRM”) is a U.S.-based company dedicated to the responsible development of subsea mineral resources, subject to applicable licenses, permits, approvals, and other authorizations. The Company’s mission is to support the secure supply of critical minerals essential to modern industry, renewable-energy technologies, and national defense.

Media Contact Deep Sea Rare Minerals, Inc.
Email: PR@deepsearareminerals.com

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws. Forward-looking statements include, among others, statements regarding the Company’s plans, objectives, strategies, expectations, intentions, engineering and design milestones, anticipated timelines, regulatory review process, and potential future operations related to polymetallic nodule exploration, sampling, recovery, processing, or other development activities. These statements are based on current assumptions, expectations, and projections and are not guarantees of future performance.

Forward-looking statements involve significant risks and uncertainties that are difficult to predict and may cause actual results to differ materially from those expressed or implied herein. These risks and uncertainties include, but are not limited to, risks related to:

• engineering, technological, and manufacturing challenges;

• performance, reliability, or integration of subsea systems and equipment;

• the timing, outcome, and receipt of licenses, permits, approvals, and other authorizations from U.S. and international authorities, including the completion of NOAA’s remaining review process and any required determinations under the Act;

• environmental assessments, impact evaluations, and evolving regulatory frameworks governing deep-sea minerals;

• changes in governmental policy or political priorities, including those related to critical minerals;

• commercial, operational, financial, and logistical considerations;

• availability and cost of capital and future financing needs;

• market conditions, commodity price fluctuations, and supply-chain uncertainty;

• potential delays associated with third-party engineering, fabrication, or testing;

• and other factors, many of which are beyond the Company’s control.

Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. Deep Sea Rare Minerals, Inc. undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or circumstances after the date of this release, except as required by applicable law. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities.

SOURCE: Deep Sea Rare Minerals, Inc.

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