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

Advanced Explorations Inc.

February 05, 2009 08:00 ET

Advanced Explorations Inc. Announces First Iron Results from A-Zone

TORONTO, ONTARIO--(Marketwire - Feb. 5, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce the first assay results from the A-Zone 2008 drilling campaign on its Roche Bay iron ore project in Nunavut, Canada.

Drill results from the A-Zone demonstrate a similar style and grade of mineralization to that of the C-Zone. Drill-hole RBA-08-16, collared on section 17550N, intersected 108.10 metres of 27.56% iron including an interval of 44.0 metres of 32.81% iron. In addition, drill-hole RBA-08-17, collared 100 metres to the east on the same section intersected 98.7 metres of 27.31% iron, including an interval of 34.0 metres of 32.37% iron. Drill-hole RBA-08-16 froze-in at 220 metres while still in banded iron formation and did not reach its targeted depth.

The two recent drill holes on the A-Zone are in the vicinity of the drilling done in 1982 which reported similar results. There were a total of 15 holes previously drilled along the A and B Zones and was the primary focus of the previous resource and economic studies. A review of the historic resource data was done but could not verify the results to the current NI 43-101 standards. While only two holes were drilled in 2008, the Company is encouraged by the results and believes the potential exists to corroborate the findings of the 1980's drill program.

John Gingerich, President and CEO, commented:

"Previous resource and economic studies focused on the A and B Zones. By starting with the C-Zone we have demonstrated the blue sky potential of the property. As future drill programs re-drill the strike extent of the A and B Zones, the Company believes it will be able to substantially add to the resource base of the Project."

A and B Zones

Previous exploration on the property had indicated the A and B Zones to be potentially as large as the C-Zone. The A-Zone has a strike of approximately 1.34 kilometres and an average width of 133 metres, The B-Zone extended 1.83 kilometres with an average width of 159 metres. These zones, along with the C, D and E Zones are subsets of a much larger regional iron formation that pinches and swells along strike that extends from the shore of Roche Bay to more than 30 kilometres the Southwest. The defined zones are simply locations along strike where the iron formation swells. Mineralization of the various zones is thus expected to be similar. Most of the historic drilling is along the A and B Zones that are slightly closer to the Ocean than the C-Zone. Although only two holes were drilled in 2008, the style of mineralization and results from the historic work suggest mineralization similar to the C-Zone.

C-Zone

Results to date indicate the C-Zone magnetite bearing banded iron formation has a strike length of approximately 5.7 kilometres of which slightly more than 4.8 kilometres has been drill tested. The C-Zone at surface varies in width from approximately 100 metres to locally in excess of 300 metres. The C-Zone dips steeply to the east and is thicker to the north characterized by a higher grade core. The mineralization comes to surface but is locally covered by shallow overburden generally ranging from only one to three metres in thickness. Drill-hole RBC-08-84 released previously is typical of the style of mineralization illustrating the higher grade core within a broader zone of banded iron formation. RBC-08-84 intersected a broader interval of 216 metres averaging 28.55% iron with a core interval of 33.80% iron over 90.0 metres.

ON BEHALF OF THE BOARD

John Gingerich, President and CEO

Please see the table below for current drilling details.



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Hole Line Coordinate Dip Azimuth From To Interval % Fe
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Number (N) (E) (m) (m) (m)
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RBA-08-16 17550 100 -45 305 26.2 84.0 57.8 26.27
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(*) (*) including (*) (*) 26.2 56.6 30.4 32.00
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111.9 220.0 108.1 27.56
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(*) (*) including (*) (*) 130.0 174.0 44.0 32.81
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RBA-08-17 17550 200 -45 305 4.3 103.0 98.7 27.31
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(*) (*) including (*) (*) 24.0 58.0 34.0 32.37
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Gary Williams, P. Geo and VP of Advanced Explorations Inc. is the QP within the meaning of 43-101 and has reviewed and approved the content of this release.

Analysis: All the recent drill core analysis reported in this release was performed by SGS Lakefield Research. At SGS, samples are analyzed for total Fe using XRF techniques. SGS also undertakes Satmagan analysis to estimate the portion of magnetic iron. The company augments the laboratory QA/QC procedures by selectively adding additional control samples. Core sample intervals for 2007 were 1 metre and increased to 2 metres except where intervals cross geologic boundaries in which case the sample length is adjusted accordingly.

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a mining exploration company exclusively focused on developing high quality iron ore opportunities. As part of this strategy, AEI acquired the option to earn a 100% ownership interest in the Roche Bay Magnetite Project located on the Melville Peninsula in Nunavut, Canada. 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. Located proximal to a natural deep water harbour the Roche Bay deposit benefits from transportation efficiencies possibly making it one of the world's premium iron ore prospects. In 2008, AEI updated its business plan for the Roche Bay project and is examining moving forward from the traditional iron pellet operation to a granulated pig iron (nugget) business. 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.

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

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