Advanced Explorations Inc.
TSX VENTURE : AXI

Advanced Explorations Inc.

January 18, 2008 11:04 ET

Advanced Explorations Inc. Moving Forward on Resource Determination and Economic Studies

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2008) - Advanced Explorations Inc. (the "Company or AEI") (TSX VENTURE:AXI) is pleased to announce the Company continues to move forward on its plan to achieve a development decision on the Roche Bay project located on the east coast of the Melville Peninsula, Nunavut, Canada. Golder Associates has been engaged to complete the resource calculation to NI 43-101 standards. In addition Florin Gheorghiu, a recognized expert in the iron ore sector, is managing the economic review which is expected to be completed midyear. The Company has also resolved the backlog in drill analysis from the laboratory, which has promised to deliver all outstanding analyses as soon as possible. Drill section results that have recently been received will be released as soon as internal QA/QC procedures have been completed.

John Gingerich, President and CEO of AEI, commented;

"The fundamentals of iron ore have not changed. The industry is still expecting a substantial increase in the long term iron ore contract price. We believe the Roche Bay project location at the coast, and favourable metallurgical attributes makes this one of the more attractive undeveloped iron ore opportunities in the world. The Company has only been working this project for 7 months and has achieved a great deal in a short period of time although there remains a great deal to be done. We remain confident that we will meet our key milestones in moving this project forward."

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, has been developing a strategy to leverage its expertise and experience in identifying business opportunities within the Resource sector. The company has recently 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, as well as develop new opportunities in the area and globally. The Roche Bay magnetite project located proximal to a natural port 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 of 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.

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