Arrrr... they be plunderin' Captain Morgan's treasures.

They, of course, being a team of U.S. archaeologists; plundering, as in conducting an underwater search; and Captain Morgan's treasures being the lost fleet of a 17th century Welshman, Captain Henry Morgan.

Yes, the very Captain Morgan who makes appearances at countless happy hours in the form of a spiced rum bearing his name -- which, conveniently, funded the ocean expedition.

CNN reports a team led by underwater archaeologist Fritz Hanselmann of the River Systems Institute and the Center for Archaeological Studies at Texas State University has discovered swords, barrels and chests belonging to the real Captain Morgan off the coast of Panama.

CHECK OUT PHOTOS OF THE TREASURE BELOW.

Hanselmann explained why the rum-fueled exploits matter.

“We’re interested in telling the true story of Henry Morgan,” Hanselmann told Fox News. "Morgan was a legendary figure, even in his time. He pretty much ran amuck in the Spanish main, culminating in the sack of Panama City. He sacked a city no one thought could be sacked."

Keep in mind, multinational alcohol purveyor Diageo, which produces Captain Morgan, sponsored the search for seafarer's booty. It also produced this video with correspondingly epic music.

Discovery News explains the real Captain Henry Morgan was a privateer, as opposed to just a pirate. The difference: Morgan was hired by the British crown to ransack parts of the Spanish Main, essential making him a hired gun (or cannon, if you like).

According to Popular Mechanics, the privateer set sail from Port Royal, Jamaica to sack Panama City with a crew of nearly 1,500 men. The plunderers saw success on the way to Panama City in destroying the cliffside stronghold Fort San Lorenzo, but the five ships soon ran aground in the razor-sharp Lajas Reef.

According to Fox News, the undersea artifacts are undergoing restoration at Old Panama Trust (Patronato Panamá Viejo) in Panama City, and will be subsequently studied by London-based experts to determine if they actually belonged Captain Morgan.

Lesson to be learned: Don't drink and dive. But do get a pirate-themed brand to sponsor your expedition.

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  • Captain Morgan's Treasure Discovered Near Panama

    Fort San Lorenzo, Colon, Panama.

  • Captain Morgan's Treasure Discovered Near Panama

    Cannon belonging to Captain Henry Morgan returned to its original state after undergoing preservation process in the Patronato Panama Viejo.

  • Captain Morgan's Treasure Discovered Near Panama

    Team of U.S. archaeologists map the 17th century shipwreck discovered at the mouth of the Chagres River in Panama during expedition for Captain Henry Morgan's lost fleet.

  • Captain Morgan's Treasure Discovered Near Panama

    A 17th century cannon, found near the Lajas reef near Fort San Lorenzo, Colon. The cannons are in conservation at the Patronato Panama Viejo laboratory in Panama City, Panama. The cannon most likely belonged to Captain Henry Morgan's lost fleet of 1671.

  • Captain Morgan's Treasure Discovered Near Panama

    Team of U.S. archaeologists map the 17th century shipwreck discovered at the mouth of the Chagres River in Panama during expedition for Captain Henry Morgan's lost fleet.

  • Captain Morgan's Treasure Discovered Near Panama

    Archaeologists set a baseline and grid offsets to begin mapping a 17th century shipwreck discovered while searching for Captain Henry Morgan's lost fleet of 1671.

  • Captain Morgan's Treasure Discovered Near Panama

    17th century cargo seals found on a shipwreck near the Lajas reef, Fort San Lorenzo, Colon. The seals were discovered while searching for Henry Morgan's lost flagship Satisfaction and are in conservation at the Patronato Panama Viejo museum in Panama City, Panama.

  • Captain Morgan's Treasure Discovered Near Panama

    Researchers bring a sword believed to belong to Henry Morgan to the surface near the Lajas Reef, For San Lorenzo, Colon.