Advanced Explorations Inc.
TSX VENTURE : AXI
FRANKFURT : AE6

Advanced Explorations Inc.

November 12, 2009 08:09 ET

Advanced Explorations' New Tuktu Iron Ore Discovery Averages 34% Iron

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)(FRANKFURT:AE6) is pleased to report assay results from the recently discovered Tuktu magnetite deposit on the Melville Peninsula, Nunavut. The project is located only 45 km from the ocean and approximately 60 kilometres northwest of the Company's flagship Roche Bay project.

Results from the representative sampling of the Tuktu banded iron formation were exceptionally consistent and averaged 34.0% iron with low contaminant levels. Moving spatially away from the geologic contacts and fault zone (gossan area) sulfur content notably decreases with a very large portion of the banded iron formation (BIF) grading 0.04% sulfur and less. The low contaminant levels are important as iron ore can be processed easier making it highly sought after by the steel making industry.

Tuktu TotalSiO2TiO2PMnOCr2O3V2O5SFe
41 BIF Samples%%%%%%%%
Average49.25 less than 0.010.0260.030.02 less than 0.01 less than 0.0734.0

The Tuktu deposit is approximately 2,700 metres in length, up to 700 metres in width and stands 60 metres high with massive magnetite mineralization exposed extensively at surface. The down-dip extent of the mineralization is unknown but field mapping has shown that the BIF beds are dipping at approximately 70 degrees to the southwest.

Summary

A total of 75 rock samples from various lithologies were collected from the discovery area. BIF samples were analyzed for iron and other elements using whole rock analysis and Satmagan testing procedures. The results above are an average of the 41 representative samples that were taken during the recent field exploration program that included sampling, mapping and staking. Samples near geologic contacts or the gossan are not included. Having recognized the potential of the discovery, the Company invited Golder Associates Limited Golder Associates Limited, authors to the Roche Bay NI 43-101 report, to participate in the Tuktu field program.

The results clearly demonstrate that the Tuktu deposit has low contaminate levels and a very consistent iron grade of 34%. The samples have been sent for metallurgical testing to determine if a high grade +63% Fe product can be produced through a simple on site process (dry magnetic separation). There is potential for higher grade zones at Tuktu, similar to intersections of 53% Fe and 63% Fe in C-Zone, which will also be a factor in assessing the metallurgical results.

John Gingerich, President and CEO, commented:

 "We are confident that the Tuktu discovery will add flexibility to the development scenarios of the Roche Bay project. With consistent 20% higher iron grades when compared to the C-Zone and no contaminant issues, it is certainly also worth following up on the prospect of developing subzones amenable to producing sinter feed. The results from the metallurgical testing will guide the next phase of exploration (drilling) as to whether the deposit will be evaluated from a large scale standalone operation or a smaller high grade operation as a satellite operation to the Roche Bay project."

A project location map and images of the Tuktu mineralization can be viewed on the web site (www.advanced-exploration.com).

Company activities

The Company will be attending the NWT Geoscience Forum in Yellowknife, NT from Nov 17 - 19, 2009 and will also have a booth (#1006) at the Hard Assets Conference in San Francisco, Nov 21 - 22, 2009.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

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.

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