Advanced Explorations Inc.
TSX VENTURE : AXI
FRANKFURT : AE6

Advanced Explorations Inc.

October 15, 2009 11:58 ET

Advanced Explorations Inc. Welcomes Jim Excell to Board of Directors

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2009) - Advanced Explorations Inc. (the "Company" or "AEI")(TSX VENTURE:AXI)(FRANKFURT:AE6) is pleased to announce the appointment of Mr. Jim Excell as a new board director after having worked with AEI as a Special Advisor since February. Jim Excell brings more than three decades of operating and major project management experience in the mining industry to the AEI board. He managed and developed some of the world's premier mining projects in Canada, the United States and Australia, including the EKATI Diamond Mine in the Northwest Territories.

AEI will also benefit from Jim's extensive knowledge in establishing good relations with aboriginal groups having negotiated four Impacts and Benefits Agreements (IBA) for mining permits in the Arctic. In addition, he has an intimate understanding of the iron ore mining and processing business based on over 15 years of experience in the industry having started his mining career at BHP.

John Gingerich, President and CEO, commented:

"We are extremely proud that Jim is joining the board of directors as he brings a wealth of talent and experience the Company will benefit from. His knowledge in IBA permitting, the iron ore industry and mining in the North are key assets AEI requires to move forward with the development of the Roche Bay iron ore project. We welcome Jim to our board, and we are looking forward to working with him".

Advanced Explorations also wishes to announce that it will be present with a booth (#506) at the 10th Annual Global Chinese Financial Forum on Saturday, October 17, 2009 at the Hilton Suites Toronto/ Markham Conference Centre. While the current business plan has a significant North American/European focus, the Company will continue to maintain its established connections to China, as well. The recently announced amended off-take agreement with China Mining Finance Partners Co. Ltd. allows them to facilitate the sale of up to 190,000 tpa of high quality iron nugget product (greater than 95% Fe) which corresponds to 19% of the total annual production currently estimated to be 1 million tonnes. The agreement provides for an increase to 350,000 tonnes under certain financing conditions and if expansions in production are being met. This agreement highlights just one of AEI's achievements with the Chinese community.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a resource development company focused on developing high quality iron ore opportunities. With the option to earn a 100% interest in the Roche Bay Magnetite Project located on the Melville Peninsula in Nunavut, Canada, AEI plans to produce high quality granulated pig iron (nuggets) from the 357 million tonnes inferred resource of the project's C-Zone. 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. 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED WITHIN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Advanced Explorations Inc.
    (416) 203-0057 x226