How to release outdrive latch? Mid-70's Merc 500

[badllama]

Just picked up an old '65 Starcraft runabout with what I've decided is a mid-70's Mercury 500 (S/N 38XXXXX, marked Mercury 500 and Thunderbolt Ignition).

Problem is I can't figure out how to release the latch on the mount to lift the motor. When I bought the boat the motor was tilted. Got it home, released it and lowered it into place. It latched in place like butter. Now I can't figure out how to release the latch to tilt it up again??? Surely there's a lever or something but I'll be darned if I can find it.

Oh, and this is my first time owning a 2-stroke motor. I'm guessing a 50:1 fuel oil mixture is appropriate?

Any help is very appreciated!

 

[Faztbullet]

Re: How to release outdrive latch? Mid-70's Merc 500

Shift it into foward and it will release and it is a 50:1 ratio engine.

 

[badllama]

Re: How to release outdrive latch? Mid-70's Merc 500

I'll try it in the morning!

Thank you so much for your time and expertise.

 

[badllama]

Re: How to release outdrive latch? Mid-70's Merc 500

As anticipated, shifting into forward released the latch and I easily tilted the motor. Awesome! Thank you.