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

Advanced Explorations Inc.

July 20, 2009 08:30 ET

Advanced Explorations Inc. Announces TSX-V Approval of Option and Royalty Agreement with Roche Bay plc

TORONTO, ONTARIO--(Marketwire - July 20, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce that the TSX Venture Exchange has approved the Option and Royalty Agreement (the "Agreement") between AEI and Roche Bay Plc and Roche Bay East Limited (collectively "Roche Bay"). The Agreement provides for earn-in events to allow the Company to acquire 100% interest in the mineral leases comprising the Roche Bay Project located on the Melville Peninsula in Nunavut, Canada (previously press released April 1, 2009). It is intended that the Agreement dated March 23rd, 2009 shall supersede the previous Amended and Restated Option and Farm-Out Agreement dated May 30th, 2007.

John Gingerich, President & CEO of AEI, commented:

"The approval of the definitive Agreement with our partner Roche Bay provides a clear ownership structure for the company and its key asset, the Roche Bay Project. With the successful completion of this process, Advanced Explorations is well positioned to attract investors and add value to the ongoing negotiations with potential strategic partners."

I am pleased with our team's accomplishments. The Company's recent financing commitment, approval of the Roche Bay option agreement and positive Preliminary Economic Assessment are important achievements in what are difficult economic times. We continue to move forward and remain confident we will ultimately take our project forward to development."

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