Rick Lagina and his team have uncovered a $98 million gold treasure in a booby-trapped vault at Smith’s Cove, Oak Island, revealing centuries-old engineering and reigniting global fascination while narrowly escaping a deadly trap.

In a dramatic breakthrough at Oak Island, Nova Scotia, Rick Lagina and his team have reportedly discovered a hidden treasure worth an estimated $98 million, a find that has reignited global fascination with the legendary island.

The discovery took place in early October 2025, near the infamous Smith’s Cove, where decades of exploration, seismic scans, and careful excavation had hinted at the presence of concealed valuables.

What began as a routine investigation using advanced ground-penetrating radar quickly turned into a historic moment when the team drilled into a mysterious cavity buried deep beneath the island.

The treasure chamber, described by insiders as resembling a small vault, was packed floor-to-ceiling with gold bullion stacked like firewood, a sight that left even veteran treasure hunters stunned.

“We knew there was something down there, but nothing prepared us for this,” Rick Lagina told the team during a tense inspection of the site.

“It’s more than just a find—it’s a confirmation that the legends were true.

” His brother Marty Lagina added, “The engineering behind this chamber is incredible.

Whoever built it had resources, skill, and foresight that are almost unimaginable for the 1700s.”

The discovery was not without peril.

Moments after entering the treasure room, the team triggered a long-forgotten booby trap, a sophisticated mechanism designed to protect the gold from intruders.

Flooding tunnels activated immediately, forcing the team to retreat while carefully documenting the scene.

Emergency response crews, along with Canadian military observers, were called in to secure the site, highlighting the extraordinary and dangerous nature of the find.

“It’s like stepping into history and a crime scene at the same time,” said a Lagina crew member.

“You can feel the weight of the past and the danger in every corner.”

Seismic scans conducted in the weeks leading up to the find had indicated anomalies beneath Smith’s Cove, but the scale and contents of the vault were beyond any expectations.

The excavation revealed a complex network of chambers, tunnels, and hidden mechanisms, confirming theories that Oak Island’s treasure was protected by advanced engineering far ahead of its time.

Researchers now speculate that the site could be linked to pirate syndicates, Templar treasures, or early colonial ventures, further intensifying the historical mystery surrounding the island.

The immediate response from authorities was swift.

Military personnel established perimeter monitoring around the excavation site to prevent looting and ensure safety, while the Lagina team began cataloging and securing the treasure.

Experts in archaeology, metallurgy, and historical engineering were called to analyze the gold and the structural integrity of the vault.

“It’s not just about the gold—it’s about understanding who built this, how, and why,” said a Nova Scotia historical consultant.

“Every piece of evidence tells a story about the past, and Oak Island may finally be revealing it in full.”

Beyond the historical implications, the find has captured public imagination worldwide.

Fans of the long-running Oak Island saga, documentaries, and treasure hunting enthusiasts have flooded social media with speculation, praise, and debate over the authenticity and origin of the gold.

Forums are abuzz with theories linking the treasure to everything from pirate hoards to secret Templar vaults, with the sophistication of the booby traps fueling discussions about how 18th-century engineers could have designed such a deadly and effective system.

Rick Lagina’s team also uncovered documents and artifacts alongside the treasure, including what appear to be old maps, schematics, and journals, hinting at prior knowledge of the vault and its mechanisms.

These discoveries are expected to shed light on the historical context of Oak Island, offering clues to one of North America’s most enduring mysteries.

“We’re learning as we go,” said Rick.

“Every object, every note, every structural detail helps us understand the people who built this and why they went to such lengths to protect it.”

The Oak Island treasure discovery at Smith’s Cove represents a culmination of decades of exploration, scientific investigation, and relentless perseverance by the Lagina brothers and their team.

It serves as a powerful reminder that even in the modern age of technology and research, mysteries from centuries past can remain hidden, waiting for the right combination of insight, courage, and determination to reveal them.

As the team continues to secure, study, and interpret the treasure, the world watches eagerly, captivated by the promise that Oak Island’s secrets—long thought myth—are finally coming to light.