The present invention includes a projectile assembly for underwater hunting and specimen collection comprising at least a cylindrical launcher, a projectile spear initially kept within the cylindrical launcher, and an elastic tension band attached to the cylindrical launcher. The invention also includes a method of capturing underwater prey or specimens using the projectile assembly. The cylindrical launcher can include a launch cap with a hole, through which the launch end of the spear is slotted prior to launching the spear. The projectile spear is launched by pulling the launch end of the spear through the cylindrical barrel and through the hole of the launch cap, placing against the middle section of the elastic tension band and pulling the tension band tight and away from cylindrical barrel along its longitudinal axis, then releasing the elastic tension band.
