St. John's, Canada - The US Coast Guard has revealed presumed human remains have been found in the wreckage of the Titan submersible that intended to reach the Titanic.

The Coast Guard announced the findings in a news release on Wednesday.

The release states that the Coast Guard received debris and other evidence recovered from the seafloor "at the site of the TITAN submersible" when a search vessel arrived in St. Johns, Newfoundland.

According to the release, the the Marine Board of Investigation (MBI) intends to transport the evidence to a US port to further analyze "presumed human remains that have been carefully recovered within the wreckage at the site of the incident."

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In the release, MBI Chair Captain Jason Neubauer stated: "I am grateful for the coordinated international and interagency support to recover and preserve this vital evidence at extreme offshore distances and depths," adding, "The evidence will provide investigators from several international jurisdictions with critical insights into the cause of this tragedy.

"There is still a substantial amount of work to be done to understand the factors that led to the catastrophic loss of the TITAN and help ensure a similar tragedy does not occur again."

OceanGate's Titan submersible first lost contact with the surface less than two hours after initiating its descent on June 18.

On June 21, those looking for the missing sub reported "banging noises" in the search area.

On June 22, a "debris field" was located, which raised fears. Later that day, US Coast Guard Rear Admiral John Mauger confirmed that the debris found was "consistent with the catastrophic loss of the pressure chamber."

The five passengers on board – British billionaire Hamish Harding, tycoon Shahzada Dawood and his son Suleman, along with OceanGate's CEO Stockton Rush and French submarine operator Paul-Henri Nargeolet – were all presumed to have lost their lives.