According to the director of the Bulgaria's History Museum, a team of archaeologists discovered the treasure late on Saturday.

The team was working on excavations near the village of Zlatinitsa, approximately 290 kilometers or 180 miles east of the capital, Sofia.

Prof. Bozhidar Dimitrov has told the Associated Press that the team found many golden and silver pieces of armor, and horse trappings, golden ring and wreath, finely crafted silver rhytons or horn-shaped drinking vessels etc.

"This was an extremely rich funeral, suggesting that the buried man could have been a Thracian king," The Associated Press quoted Dimitrov as saying, "Although he was not buried according to Thracian traditions, all objects of art bear Thracian imagery."

The archaeologists have also found that the king's body is placed in a huge wood-paneled pit together with two horses and a dog. Thracian kings were usually buried in vast stone tombs under gigantic earth mounds.

According to historians, the Thracians lived in Bulgaria and parts of modern Greece, Romania, Macedonia and Turkey from 4,000 B.C. to the 8th century A.D.