In May of 1497, Master John Cabot (Giovanni Caboto) sailed from Bristol, England on what would become Britain’s first naval exploration of North America. On June 24, Cabot disembarked, likely in Newfoundland. Upon returning to Bristol on August 6, he brought not gold or silver, but news of a territory claimed for England, and of a treasure that would prove to be more valuable than precious metal. He had discovered in the seas off Newfoundland the richest fishing grounds on the planet.