Advanced Explorations Inc.
TSX VENTURE : AXI
FRANKFURT : AE6

Advanced Explorations Inc.

October 08, 2009 08:00 ET

Advanced Explorations Announces Expansion of Chinese Off-Take Agreement

TORONTO, ONTARIO--(Marketwire - Oct. 8, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX:AXI)(FRANKFURT:AE6) is pleased to announce that it has revised its off-take agreement with a Chinese mine finance company (see press release October 30th, 2007) to encompass elements of AEI's high grade iron nugget development plans.

John Gingerich, President & CEO of AEI, commented:

"We are very encouraged by the request to expand the off-take agreement to include the potential high grade iron production ( greater than 96% Fe). Having this support to our business plan is mutually beneficial to both parties. While our proposed development plan has a North American and European focus, there is certainly demand for a high value product in China. It also makes more sense to encourage long distance shipping of a high value product as the transportation cost is then only a small portion of the buyers cost".

In addition, the Company is pleased to report that it has initiated a number of additional metallurgical studies in support of a planned Definitive Feasibility Study. AEI also had a number of engineering firms visit the site to review and verify development requirements. Furthermore, a prospecting and mapping program has been initiated to identify and acquire additional development opportunities. The Company expects to report on the results of these activities in the near future.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

About Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a resource development company focused on developing high quality iron ore opportunities. With the option to earn a 100% interest in the Roche Bay Magnetite Project located on the Melville Peninsula in Nunavut, Canada, AEI plans to produce high quality granulated pig iron (nuggets) from the 357 million tonnes inferred resource of the project's C-Zone. Led by an experienced management team with technical, exploration and mining expertise the company has the capabilities to rapidly advance the Roche Bay Project and explore other local and global opportunities. Shares of the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). For more information please visit www.advanced-exploration.com.

This news release also includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED WITHIN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Advanced Explorations Inc.
    John Gingerich
    President & CEO
    (416) 203-0057