It’s not a warship. When she was sold to the East India Company, it ceased to be a commissioned warship and became a merchant ship. This is a critical point in respect to the salvage rights and sovereignty ownership.
The rum would have certainly been in barrels, not bottles, and therefore is likely long gone. The ship has great historical value and may have some value if it has coinage or bullion on their manifest.
I found the article confusing and did some checking. During the Seven Years War Spain seized Colonia del Sacramento, which is on the River Plate. Apparently, this ship was attacking Colonia but got too close to the land guns. After the end of the War, it went back to Portugal, hence the Spanish mayhem when they left. Obviously, eventually the region became independent and Spanish speaking.