In separate statements, Reyes and Coron Mayor Mario Reyes Jr. denounced what they dismissed as "unverified" and "speculative" statements issued by M-4 Construction Co., which became the source of the media reports.
The pumpboat, M/B Fatima, was carrying eight workers of M-4 Construction and three crewmen when it went missing while en route to Coron last March 31.
"There is no confirmation that the boat reached the waters of Palawan after it left Occidental Mindoro on March 31," Reyes said in a statement.
The construction firm itself has denied having been contacted by the kidnappers.
"We are back to square one. But our search is still ongoing," said LCdr. Joseph Coyme, Coast Guard spokesman.
Coyme said a female secretary of M-4 Construction, who was reportedly the source of the kidnapping reports, "now refuses to talk."