Key points
- U.S. Treasury Secretary Scott Bessent’s October 14, 2026 statement to the World Bank and IMF named deep sea mining as a sector where the Bank can play a catalytic role.
- The company says the statement announces no funding, approval or endorsement of Deep Sea Minerals, but reads it as a sign of U.S. policy interest in seabed minerals.
- Through American Deep Sea Minerals Corp. it has applied to NOAA for an exploration licence over about 147,368 km2 of the Clarion-Clipperton Zone and is evaluating the Cook Islands.
- A third extension of the Capital Gain Media investor relations agreement runs from October 19, 2026 to January 14, 2027 for US$100,000 upfront; IR spending since the January 19, 2026 listing statement is about $1.22 million, above the March forecast.
Vancouver, British Columbia, Oct. 19, 2026 (GLOBE NEWSWIRE) — Deep Sea Minerals Corp. (CSE: SEAS) (OTCQB: DSEAF) (FSE: X450) (“Deep Sea Minerals” or the “Company”) welcomes the recognition of deep sea mining in U.S. Secretary of the Treasury Scott Bessent’s October 14, 2026, statement for the World Bank Development Committee and the International Monetary Fund’s International Monetary and Financial Committee.
U.S. Treasury Recognition of Deep Sea Mining
In discussing critical minerals and economic security, Secretary Bessent welcomed the World Bank’s recently approved Metals and Minerals Implementation Plan and outlined potential contributions through regulatory reform, infrastructure, local processing capacity and project financing. Addressing deep sea mining specifically, he stated: “This includes deep sea mining, where the Bank can play a catalytic role by providing knowledge and guidance in a nascent sector.”1
“Secretary Bessent’s comments bring further attention to the potential role of seabed minerals in diversifying critical mineral supply,” said James Deckelman, Chief Executive Officer of Deep Sea Minerals. “For an emerging sector, building technical knowledge, establishing clear regulatory pathways and developing a sound environmental evidence base are essential. These priorities are directly relevant to our approach as we pursue exploration opportunities through the U.S. regulatory framework and evaluate opportunities in the Cook Islands.”
The Company views the statement as a further indication of U.S. policy interest in seabed minerals. The Treasury statement does not announce funding, regulatory approval or an endorsement of Deep Sea Minerals or any of its proposed activities.
Deep Sea Minerals is pursuing a strategy focused on the exploration and potential development of polymetallic nodule resources. Through its U.S. subsidiary, American Deep Sea Minerals Corp., the Company has applied to the National Oceanic and Atmospheric Administration (“NOAA”) for an exploration license under the Deep Seabed Hard Mineral Resources Act covering an approximate area of 147,368 km2 in the Clarion-Clipperton Zone in international waters. The Company is also evaluating potential exploration opportunities in the Cook Islands.
Other Corporate Updates
The Company has entered into a third extension, effective October 19, 2026, of its investor relations and marketing agreement with Capital Gain Media Inc. (“CGM”), originally announced on February 24, 2026, and previously extended on June 4 and July 9, 2026.
CGM will continue to provide investor awareness, digital marketing, content development and related communication services in support of the Company’s capital market initiatives. These services will include the preparation and distribution of written and video content, targeted digital advertising, social media marketing, investor-focused email campaigns and website traffic optimization. Promotional activities will be conducted through social media advertising platforms, online investor publications and websites, electronic newsletters and email distribution lists, dedicated campaign landing pages, and CGM’s proprietary and third-party digital advertising networks.
The third extension will continue until the earlier of: (i) January 14, 2027; or (ii) the date on which the allocated marketing budget is exhausted. The Company will pay CGM an upfront marketing budget of US$100,000, plus applicable taxes, for the third extended term. As with its prior engagements with CGM, the Company will not issue any securities to CGM as compensation for its services.
CGM has a business address located at 1111 West Hastings Street, 15th Floor, Vancouver, V6E 2J3 and its principal Graham Colmer can be contacted by email at admin@capitalgainmedia.com and by telephone at 604-379-8363. CGM and its principals are arm’s length from the Company.
Further to the Company’s news release of March 10, 2026 (the “March Corporate Update”), the Company has spent approximately $1.22 million on investor relations activities since its Canadian Securities Exchange Form 2A – Listing Statement dated January 19, 2026, was filed. This amount exceeds the anticipated expenditures for investor relations activities previously disclosed in the March Corporate Update. As an early mover in a developing industry, the Company has had to incur more investor relations expenditures than previously anticipated as a result of having to inform the market about the subsea mineral exploration and development industry generally, rather than merely informing the market about the Company’s own progress within such industry.
SOURCES
- U.S. Department of the Treasury, October 14, 2026:
https://home.treasury.gov/news/press-releases/sb0659
ABOUT DEEP SEA MINERALS CORP.
Deep Sea Minerals Corp. is a seabed mineral exploration and development company focused on evaluating opportunities to support the future supply of critical minerals through the acquisition, exploration, and development of deep-sea mineral assets.
The Company’s strategy is centered on identifying jurisdictions and geological settings with potential exposure to polymetallic nodule systems, which are recognized for containing combinations of metals that may be relevant to defense, industrial manufacturing, clean energy infrastructure, advanced electronics, and artificial intelligence-related supply chains. These seabed resources represent a largely undeveloped component of the global mineral supply base and are the subject of increasing policy, scientific, and regulatory attention worldwide.
As part of this process, the Company has commenced early-stage engagement with selected governments and regulatory bodies in the Pacific Ocean region to assess potential pathways for future exploration initiatives, subject to applicable international, national, and environmental frameworks.
