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

Advanced Explorations Inc.

August 10, 2009 09:29 ET

Advanced Explorations Inc. Announces $1,800,000 Flow-Through Financing

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce a private placement offering to accredited investors. Subject to TSX Venture Exchange approval the Company intends to raise up to $1,800,000 worth of flow through funds for a total of up to 10,000,000 flow-through units ("Units") at $0.18 per Unit (the "Offering"). Each Unit consists of one common Flow-through share and one non-transferable, non-flow-through common share purchase warrant (the "Warrants"). The holder of Warrants shall be entitled to convert each whole Warrant to a common share of the Company at an exercise price of $0.25 for 12 months following the closing of the Offering ("Closing"). All warrants shall expire one (1) year after Closing.

A finder's fee in cash, warrants or a combination of both may be payable in connection with this placement which will not exceed the maximum allowable under the policies of the TSX Venture Exchange. The offering and finder's fee are subject to completion and execution of appropriate documentation and acceptance for filing by the TSX Venture Exchange.

The gross proceeds raised from the flow-through funds will be used for exploration expenditures in the Company's Nunavut Roche Bay Magnetite Project, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2009 taxation year.

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. In the spring of 2009, AEI announced a preliminary economic assessment for the project indicating a potential US $2.76 billion net present value, a minimum of 50 years mine life and a return on investment between three and five years. 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.

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.

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.

Contact Information

  • Advanced Explorations Inc.
    (416) 203-0057 x226