Advanced Explorations Inc.
TSX VENTURE : AXI.H
NEX BOARD : AXI.H
TSX VENTURE : AXI

Advanced Explorations Inc.

August 13, 2008 10:26 ET

Advanced Explorations Engages Miller Mathis & Co.

TORONTO, ONTARIO--(Marketwire – Aug. 13, 2008) - Advanced Explorations Inc. (TSX VENTURE:AXI.H)(NEX BOARD:AXI.H)(TSX VENTURE:AXI) (the "Company" or "AEI") is pleased to announce it has engaged Miller Mathis & Co. LLC ("Miller Mathis" or "the Advisor") for the purpose of assisting the Company in finding strategic and/or financial partners to further its Roche Bay Project in Nunavut, Canada. As the Company expects to release its preliminary economic assessment in the near future, it is looking for a partner with the capability, depth and experience that will enhance the development of the Company's Roche Bay Project.

John Gingerich, President and CEO of AEI, commented;



"Introducing a financial or strategic partner to our project is the
next important step supporting our efforts to advance the Roche Bay
Project to a development stage. We are pleased to be able to engage a
reputable organization such as Miller Mathis in assisting us with
this process."


Robert M. Miller, Senior Managing Director of Miller Mathis, said:



"We are delighted to assist the company in finding a
strategic/financial partner to develop the Roche Bay project. We
believe that the company and the project have a number of compelling
attributes that will make it desirable to the investment and mining
community."


The Company also wishes to announce that in furtherance to the press releases dated June 13, 2008 and July 17, 2008, the Company will not proceed with the Melville Capital Corporation debenture and equity financing. AEI is looking forward to the new opportunities that the Miller Mathis team can bring forward.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project, which was acquired in June 2007, as well as, to develop new opportunities in the area and globally. The Roche Bay magnetite project is located proximal to a natural harbour which makes it potentially one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI. For more information please visit www.Advanced-Exploration.com.

ABOUT Miller Mathis & Co. LLC

Miller Mathis is an affiliate of Rodman & Renshaw, a U.S.-based broker dealer (NASDAQ: RODM). Miller Mathis is widely recognized as the No. 1 independent investment bank to the global steel, metals and mining sector. The company specializes in strategic advice and mergers and acquisitions, with particular experience in finding strategic or financial partners and buyers for development stage projects and companies. Robert M. Miller, the Senior Managing Director of Miller Mathis, is an internationally renowned expert in steel, metals and mining.

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 of 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.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.

Contact Information

  • (416) 203-0057 x226