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, narrowly escaping danger, and reigniting global fascination with the island’s legendary mysteries.

In a staggering development that has sent shockwaves through the treasure hunting world, Rick Lagina and his team have reportedly uncovered a hidden gold treasure worth $98 million at Smith’s Cove, Oak Island, Nova Scotia.

The discovery, which occurred in early October 2025, began as a routine seismic survey intended to map subterranean anomalies but quickly escalated into a historic breakthrough.

Using advanced ground-penetrating radar and precision drilling, the Lagina team identified a previously unknown cavity deep beneath the island—one that, according to historical records, should not exist.

Upon entering the chamber, the team was confronted with an astonishing sight: stacks of gold bullion meticulously arranged like firewood, filling the vault from floor to ceiling.

The discovery immediately captured the attention of historians, treasure hunters, and the global public, as it represents one of the most significant finds in Oak Island’s storied history.

“We knew there were secrets beneath Smith’s Cove, but seeing this vault for the first time was beyond belief,” Rick Lagina remarked during the initial inspection.

“It’s a validation of decades of research and exploration.”

However, the discovery was not without peril.

The moment the team entered the vault, a sophisticated booby trap—likely designed in the 1700s—was triggered, activating flooding tunnels and forcing an immediate retreat.

Marty Lagina, Rick’s brother and expedition partner, described the scene as “a perfect blend of awe and terror.

You’re looking at a treasure that’s been hidden for centuries, and at the same time, you realize that history has been defending it with deadly ingenuity.

” Military personnel were reportedly called in to monitor and secure the island, ensuring the safety of the team and preventing unauthorized access to the treasure site.

The discovery has reignited longstanding theories about Oak Island, ranging from pirate hoards and Templar treasures to early colonial plunder.

Historical documents, some of which were unearthed alongside the gold, suggest the cavity was purposefully engineered to protect its contents, using flood tunnels, complex vault structures, and hidden chambers to deter intruders.

Experts in historical engineering and metallurgy have been summoned to study both the gold and the design of the chamber, with preliminary analyses confirming the advanced construction techniques used centuries ago.

Eyewitnesses from the Lagina team described the moment they first laid eyes on the gold as surreal.

“It felt like stepping into a scene from a movie,” one crew member said.

“Everything about the chamber—the way the gold was stacked, the mechanical ingenuity of the trap, even the smell of history in the air—was unforgettable.

You couldn’t help but feel the weight of the past pressing down on you.

” The combination of historical sophistication and the sheer value of the find has made Oak Island once again the focal point of worldwide fascination.

Beyond the immediate financial implications, the find carries significant historical and cultural weight.

Scholars and enthusiasts alike are keen to understand the origins of the vault, the identity of its builders, and the methods used to protect the treasure over centuries.

Some speculate the cache may have been linked to pirate syndicates, secret societies, or even high-ranking colonial figures, adding layers of intrigue to an already mysterious location.

Seismic and geophysical data collected during the expedition suggest that additional chambers or tunnels may still lie undiscovered beneath Smith’s Cove, raising hopes that more treasures—or historical evidence—could yet be revealed.

The Lagina brothers emphasized that the discovery is as much about understanding history as it is about acquiring wealth.

“Every detail—from the construction of the chamber to the placement of the bullion—tells a story,” Rick explained.

“We’re learning about the people who built this, the lengths they went to protect it, and the society that existed around Oak Island hundreds of years ago.

” Marty added, “It’s easy to get caught up in the dollar value, but the real treasure is the history and the ingenuity of those who came before us.”

As the team continues to secure the gold, document the site, and collaborate with historians, engineers, and archaeologists, the Oak Island discovery at Smith’s Cove stands as a landmark moment in treasure hunting history.

It underscores the enduring allure of the island, the brilliance and foresight of its original architects, and the relentless dedication of modern explorers who, centuries later, have finally unlocked one of North America’s most enduring mysteries.

The world watches as Rick Lagina and his team navigate the delicate balance between discovery, preservation, and danger, proving that even in the modern era, centuries-old secrets can still astonish, challenge, and captivate the human imagination.