I would check nearby
geocaches.. Maybe they hid something in one? Anyway, I do think that the third number is key to understanding this hint. What geographical features are exactly 342 miles/feet/inches/cm/km/lightyears away from that square? Where does the 342 degree bearing intersect said circle?
Also, let's think outside the box. The first two numbers are convincing coordinates, but what else could they mean? Also note, if you flip the coordinates you get to a point in antarctica. The last could be a temperature in kelvin? (around 156 f) Unlikely..