Colombia's president says long-lost wreck of Spanish gold-carrying galleon has been found

BOGOTA – Colombia’s president says searchers have found the wreck of a Spanish galleon that was sunk more than 300 years ago while carrying a big cargo of gold and precious stones.

A Twitter message from President Juan Manuel Santos says more details about the discovery will be released Saturday. In his tweet, he says: “Great news: We found the galleon San Jose.”

The ship was sunk in an attack by the British in 1708 and has been submerged off the coast of Baru in what is now Colombia near the Rosario Islands. It is believed to have been carrying 11 million gold coins, jewels and 600 people.

The lost galleon and its cargo have been the subject of a long legal fight between Colombia’s government and the salvage firm Sea Search.