Advanced Explorations Inc.

Advanced Explorations Inc.

November 24, 2008 10:54 ET

Advanced Explorations Inc. Intercepts 33.3% Iron

TORONTO, ONTARIO--(Marketwire - Nov. 24, 2008) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce new assay results from drilling on its Roche Bay project in Nunavut, Canada. Drill-hole RBC-08-80 intersected 68.5 metres averaging 30.31% iron containing a subinterval of 28 metres averaging 33.27% Fe and a lower interval of 56.3 metres averaging 30.73% Iron. SGS Lakefield also reported high grade intervals of more than 30% iron from two other holes (RBC-08-78 and RBC-08-82).

Results continue to confirm the project's potential of high grade (over 30% Fe) magnetite intervals within a broad zone of banded iron formation ("BIF"). Drilling in 2008 reports from holes drilled along 4.8 kilometres of the 6 kilometre long C-Zone. Future programs will assess the potential of the A, B, D and E zones identified in earlier programs in the 1980's.

John Gingerich, President & CEO of AEI, commented;

"These results continue to meet our expectations regarding the potential of the Roche Bay magnetite deposit. The C-Zone grade consistency along its strike is encouraging, and we expect to obtain similar results when we drill the last kilometre of strike".

Once all the outstanding analysis from SGS Lakefield has been received, the Company will be in a position to finalize its resource model and will then release the NI 43-101 compliant resource statement as soon after as possible.


John Gingerich, President and CEO

Hole Line Coordinate Dip Azimuth From To Interval % Fe
Number (N) (E) (m) (m) (m)
RBC-08-78 10800 925 -45 305 70.0 129.8 59.8 25.88
(*) (*) including (*) (*) 90.0 112.0 22.0 31.58
RBC-08-80 12400 800 -55 125 111.5 180.0 68.5 30.31
(*) (*) including (*) (*) 140.0 168.0 28.0 33.27
(*) (*) plus (*) (*) 235.0 291.3 56.3 30.73
RBC-08-82 10600 900 -65 305 87.0 218.8 131.8 26.00
(*) (*) including (*) (*) 87.0 109.0 22.0 33.11

NOTES: Analysis from RBC-80-78 is from the main zone, while some of the

Footwall zones have assays pending. Only partial results for the BIF

intervals intersected in holes RBC-80-80 and 80-82 have been reported.

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. In early 2007, AEI acquired the option to earn an 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. Shares of the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). For more information please visit


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