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

Advanced Explorations Inc.

April 13, 2009 10:14 ET

Advanced Explorations Inc. Corporate Update

TORONTO, ONTARIO--(Marketwire - April 13, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to provide an update of corporate activities. The Company has received conditional approval from the TSX Venture Exchange in respect to its recently announced definitive agreement on April 1st, 2009 that provides an option to acquire a 100% interest in its Roche Bay iron ore project. The Company is currently focused on securing a strategic partner to assist in the potential development of this project. While the Company is in advanced discussions in respect of a possible strategic financing, there can be no assurance that the transaction will be consummated.

John Gingerich, President & CEO of AEI, commented;

"We are encouraged by recent strategic financing announcements by
companies in the iron ore sector demonstrating back integration and
security of supply is still a priority of many global steel
producers. AEI's recent simplification of its agreement with Roche
Bay plc was an important step to advance its negotiations with
potential Strategic Partners with the objective to ultimately move
the project forward towards development. The economic study, expected
to be completed shortly, is also a factor in these negotiations. "

The Company has recently announced results (March 12, 2009) from the Golder 43-101 compliant resource determination and is currently working with engineers to complete a preliminary economic assessment of the project based on the defined resource. The economic study is assessing a plan to produce a minimum 1 million tonnes per year of high quality (greater than 95% Fe) granulated pig iron. The recommendations of this report will be used to guide the Company's summer field program currently scheduled to start in June.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a mining exploration company 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.

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