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

Advanced Explorations Inc.

February 10, 2009 08:00 ET

Advanced Explorations Inc. Intersects 218.5 Metres of 32.21% Iron

TORONTO, ONTARIO--(Marketwire - Feb. 10, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce the final Iron assay results from the 2008 drilling campaign on its Roche Bay iron ore project in Nunavut, Canada. Follow-up precious metal sampling and metallurgical testing results to be reported in the future.

Drill-hole RBC-08-87, collared on section 12762N, intersected 218.5 metres of 32.21% iron including an interval of 116.0 metres of 34.23% iron. The results from this hole are one of the best results to date from the C-Zone. In addition, drill-hole RBC-88, collared over 3500 metres south on section 9200N, intersected 135.4 metres of 24.66% iron, including an interval of 16.0 metres of 33.99% iron. Both holes within the C-Zone demonstrate higher grade iron mineralization within a broader zone of banded iron formation.

Please see the table below for the final iron assay results from the 2008 drilling program.

The Company has now forwarded the last of the required technical data to complete the NI 43-101 compliant resource and associated Scoping Study to the contractors. Both reports are expected in the near future.

John Gingerich, President and CEO, commented:

"This is a great way to finish up reporting the 2008 iron assay results.

The Company drilled over 16,000 metres of core and took over 6000 samples for assaying. The results, such as those reported here, we think demonstrate potential for a very solid project. Our next step, which is our top priority, is to get our resource estimate and economic study to the market. We believe these reports will clearly show the economic potential of this project."

ON BEHALF OF THE BOARD

John Gingerich, President and CEO

Drill Hole Summary Table:




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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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RBC-08-87 12762 966 -50 305 119.6 338.2 218.5 32.21
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(*) (*) including (*) (*) 119.6 147.0 27.4 35.37
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(*) (*) including (*) (*) 167.0 283.0 116.0 34.23
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RBC-08-88 9200 725 -45 305 3.6 139.0 135.4 24.66
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(*) (*) including (*) (*) 65.0 75.0 10.0 33.20
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(*) (*) including (*) (*) 106.0 122.0 16.0 33.99
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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, is thicker to the north and is 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.

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