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

Advanced Explorations Inc.

October 30, 2008 07:57 ET

Advanced Explorations Inc. Reports Additional High Grade Iron

TORONTO, ONTARIO--(Marketwire – Oct. 30, 2008) - Advanced Explorations Inc. (TSX VENTURE:AXI.H)(NEX BOARD:AXI.H)(TSX VENTURE:AXI) (the "Company" or "AEI") is pleased to announce new assay results from the 2008 drilling campaign at its Roche Bay magnetite project in Nunavut, Canada. Drill-hole RBC-08-72, drilled on section 12600 N, intersected a 163 metre interval of Banded Iron Formation ("BIF") averaging 29.0% iron including an 86 metre interval averaging 32.7% iron. Results continue to confirm the project potential with the latest assays ranging from 23.36% to 34.95% iron consistent with previous releases.

Additionally, drill-hole RBC-08-70, drilled on section 9400 N and collared 3.2 kilometres south of drill-hole RBC-08-72, has intersected a 195.4 metre interval of BIF averaging 27.9 % iron including a 44 metre interval grading 34.95% iron. Drilled from 960 E, drill-hole RBC-08-72 undercuts several holes drilled in 2007 and confirms the presence of iron at considerable widths and depths near the centre of the main C-Zone. These results indicate broad widths of BIF, as well as subintervals of higher grade iron mineralization, occurring over the entire length of the C-Zone.

Please see the attached table for additional current drilling details.

John Gingerich, President & CEO of AEI, commented;



"These results continue to meet our expectations regarding the potential
of the Roche Bay magnetite deposit. We remain encouraged by the C-Zone
grade consistency along its strike. We are also very pleased that the
results further support our business model and the development of a
nugget plant operation."


Note: All drill-holes are NQ sized drill core (47.6 mm in diameter). Partial results from RBC-08-68 were released on September 26, 2008; current results are for the entire drill-hole.



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Hole Line Coordinate From To Interval % Iron
Number (N) (E) Dip Azimuth (m) (m) (m) (Fe)
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RBC-08-68 10400 800 -55 305 10.1 134.5 124.4 23.36
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(i) (i) (i) (i) (i) 248.0 272.0 24.0 32.43
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RBC-08-69 10000 775 -45 305 5.9 116.2 110.3 25.03
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(i) (i) including (i) (i) 33.5 64.0 30.5 31.35
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(i) (i) (i) (i) (i) 144.0 174.4 30.4 25.60
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RBC-08-70 9400 775 -70 305 48.5 105.8 57.3 25.47
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(i) (i) (i) (i) (i) 114.3 309.7 195.4 27.90
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(i) (i) including (i) (i) 213.0 257.0 44.0 34.95
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RBC-08-71 10200 800 -45 305 6.0 164.5 158.5 24.78
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(i) (i) including (i) (i) 20.0 120.6 100.6 26.96
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RBC-08-72 12600 960 -50 305 69.0 103.2 34.2 30.08
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(i) (i) (i) (i) (i) 126.0 289.1 163.1 29.00
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(i) (i) including (i) (i) 160.0 246.0 86.0 32.70
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(i) (i) (i) (i) (i) 310.1 336.7 26.6 26.04
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RBC-08-73 10000 850 -65 305 3.7 172.3 168.6 24.73
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(i) (i) including (i) (i) 52.0 104.0 52.0 31.58
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(i) (i) (i) (i) (i) 198.3 231.8 33.5 23.99
-------------------------------------------------------------------------
RBC-08-74 RESULTS
INCOMPLETE
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RBC-08-75 12400 800 -55 305 27.1 156.0 128.9 27.11
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(i) (i) including (i) (i) 50.0 108.8 58.8 30.93
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(i) (i) (i) (i) (i) 177.6 210.9 33.3 26.63
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(i) (i) (i) (i) (i) 236.5 279.7 43.1 27.02
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RBC-08-76 10800 800 -45 305 3.2 66.5 63.3 25.68
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RBC-08-77 10600 800 -65 305 5.6 35.2 29.6 29.74
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Gary Williams, P. Geo and VP of Advanced Explorations Inc. is the QP within the meaning of NI 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD

John Gingerich, President and CEO

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 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