AgriMarine Announces First Salmon Harvest From Canadian Demonstration Site

AgriMarine Holdings Inc. (TSX VENTURE:FSH)(OTCQX:AGMHF)(FRANKFURT:A2G) (the
"Company" or "AgriMarine"), the leader in floating closed containment technology
and production for sustainable aquaculture, is pleased to report the first
commercial harvest at its Canadian demonstration site at Middle Bay on Vancouver
Island, British Columbia.


The Company previously announced damage to its floating, solid-wall containment
tank incurred during a hurricane-grade windstorm that hit Vancouver Island
earlier this month. After an initial assessment of the damage, the Company
harvested its first crop of Chinook salmon and has begun the process of raising
the tank for insurance evaluation and repair. The Company is proceeding with the
demonstration project, which is partly funded by Sustainable Development
Technology Canada ("SDTC"). Subsequent tanks which are currently being
manufactured have been redesigned and will be installed on schedule, including
the upgraded pilot tank.


Management feels that harvest results prove the commercial value of AgriMarine's
unique technology for sustainable aquaculture. The Company has made the
following early findings:




--  The fish reached a harvestable size in 13 months, thus demonstrating
    excellent growth rates achievable in the AgriMarine System 
--  It appears that there was no loss of inventory, although final harvest
    numbers are not complete 
--  The harvested salmon were delivered under contract to our U.S. customer 
--  Only 3 sea lice were found in the entire crop of salmon, proving that
    the AgriMarine System effectively controls sea lice infestations 
--  No antibiotics or chemicals were used and overall fish health was
    excellent 
--  The processing yield was 91% 
--  The mooring system functioned as designed to help stabilize the floating
    tank in an extremely high-energy situation 



"We are extremely proud of our team and how they managed the facilities and
harvest procedures during the windstorm," said Richard Buchanan, President and
CEO. "Although final harvest numbers are not complete, we have so far harvested
and sold over 95% of the original stocking numbers." Mr. Buchanan added, "We
have taken the lessons learned into our new tank deliveries and continuing farm
research at the site."


A report was filed on March 14th with the federal authorities.

About AgriMarine Holdings Inc.

Canadian-based AgriMarine is an aquaculture technology company engaged in the
development, commercialization and licensing of proprietary solid-wall closed
containment systems for the rearing of finfish. The Company utilizes its
innovative, clean technology to rear salmon and trout in its farms in China and
Canada. The AgriMarine System can be applied worldwide in warm or cold climate
conditions, in oceans, reservoirs and lakes. The AgriMarine System addresses
sustainability issues in finfish aquaculture, creates an optimal fish rearing
environment, offers a better farm management system with added economic and
environmental benefits and meets consumer and retailer demands for sustainable
aquaculture.


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