This paper describes the ongoing developments in Photogrammetry and Mixed Reality for the Venus European project (Virtual ExploratioN of Underwater Sites, http://www.venus-project.eu). The main goal of the project is to provide archaeologists and the general public with virtual and augmented reality tools for exploring and studying deep underwater archaeological sites out of reach of divers. These sites have to be reconstructed in terms of environment (seabed) and content (artifacts) by performing bathymetric and photogrammetric surveys on the real site and matching points between geolocalized pictures. The base idea behind using Mixed Reality techniques is to offer archaeologists and general public new insights on the reconstructed archaeological sites allowing archaeologists to study directly from within the virtual site and allowing the general public to immersively explore a realistic reconstruction of the sites. Both activities are based on the same VR engine but drastically differ in the way they present information. General public activities emphasize the visually and auditory realistic aspect of the reconstruction while archaeologists activities emphasize functional aspects focused on the cargo study rather than realism which leads to the development of two parallel VR demonstrators. This paper will focus on several key points developed for the reconstruction process as well as both VR demonstrators (archaeological and general public) issues. The ?rst developed key point concerns the densi?cation of seabed points obtained through photogrammetry in order to obtain high quality terrain reproduction. The second point concerns the development of the Virtual and Augmented Reality (VR/AR) demonstrators for archaeologists designed to exploit the results of the photogrammetric reconstruction. And the third point concerns the development of the VR demonstrator for general public aimed at creating awareness of both the artifacts that were found and of the process with which they were discovered by recreating the dive process from ship to seabed.