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

Advanced Explorations Inc.

September 02, 2008 03:18 ET

Advanced Explorations Inc. Extends Option to Earn 70% Interest

TORONTO, ONTARIO—(Marketwire – Sept. 2, 2008) - Advanced Explorations Inc. (TSX VENTURE:AXI.H)(NEX BOARD:AXI.H)(TSX VENTURE:AXI) (the "Company or AEI") is pleased to announce that it has agreed to extend the deadline to exercise the Company's option to earn up to a 70% interest in the Roche Bay, Nunavut project with Roche Bay Plc ("Roche Bay") (the "Extension Agreement").

Under the Extension Agreement the Company will pay Roche Bay $200,000 by September 8th, 2008 and maintain its rights to exercise its option to earn the additional 19.9% interest on the same terms and conditions as previously announced July 14, 2008. The Company's option has been extended to no later than November 15th, 2008, and the transaction remains subject to the approval of the TSX Venture Exchange and, if required pursuant to applicable securities laws, to the approval of the shareholders of AEI.

ON BEHALF OF THE BOARD

John Gingerich, President & C.E.O.

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 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.

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.

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

Contact Information

  • (416) 203-0057 x226