Advanced Explorations Inc.

Advanced Explorations Inc.

March 02, 2005 14:24 ET

Advanced Exploration Inc. Announces Assembly of Expert Hyperspectral Team; Appointment of New Board Members


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ADVANCED EXPLORATIONS INC.

TSX VENTURE SYMBOL: AXI.H

MARCH 2, 2005 - 14:24 ET

Advanced Exploration Inc. Announces Assembly of Expert
Hyperspectral Team; Appointment of New Board Members

TORONTO, ONTARIO--(CCNMatthews - March 2, 2005) - The Board of Directors
of Advanced Explorations Inc. (TSX VENTURE:AXI.H) announced today the
resignations of Mirella Howell and George Dinadis as directors of the
company. The Board of Directors acknowledged the service and commitment
of these individuals and their positive contributions in the Company's
reorganization.

The Board of Directors also announced the appointment of Mr. Gary
Williams, Dr. Benoit Rivard, and Mr. Paul Matysek as new members of the
Board, to advise and direct the company in the development of its
hyperspectral program. These appointments are subject to the approval of
the TSX Venture Exchange.

Dr. Benoit Rivard is a recognized leading expert in mineral applications
of hyperspectral technology. As one of Canada's leading researchers, Dr.
Rivard, a professor at the University of Alberta, is actively involved
in research programs with Canada's technology providers and developers.
Ongoing initiatives include: instrument manufacture Telops and producers
of the oil sand sector, as well as, resource mapping in the Canadian
north in support of government programs. He is a member of the science
team for the HERO hyperspectral satellite, under consideration by the
Canadian Space Agency. Dr. Rivard's experience and expertise further
enhance the technical strength of the Advanced Explorations Inc. team.

Mr. Gary Williams has been involved in the mining industry since 1977
and has conducted a wide range of exploration programs throughout Canada
since that time. His experience has centered on exploration for uranium,
precious metals and base metals, focusing on: the Athabasca Basin in
Saskatchewan and the Thelon Basin in Nunavut: the Hemlo, Abitibi and
Mishibishu greenstone belts as well as a number of smaller belts in
northern Ontario, the Izok Lake area in Nunavut. Principal strengths
gained through this experience include management of large multi-phase
projects, project planning, and liaison with government organizations,
roles that are a focus of his current duties as the Association of
Professional Geoscientists of Ontario, an is currently a member of their
Discipline Committee. Mr. Williams will continue as the president of the
company.

Mr. Paul Matysek is a professional geologist with over 25 years of
international exploration and development experience. He holds a
Bachelor of Science degree in Geology from the University of Toronto and
Masters of Science degree in Geology from the University of British
Columbia. Mr. Matysek has held senior management or director positions
with several natural resource exploration and development companies,
notably Energy Metals Corporation (currently President and CEO) First
Majestic Resource Corporation (currently Director) and First Quantum
Minerals Ltd. Mr. Matysek has been instrumental in the acquisition and
development of a number of significant precious metal, uranium, and
base-metal properties which include the 2.4 million ounce Crucitas Gold
Project in Costa Rica and the Altintepe and Tavsan Gold Projects in
Turkey. Mr. Matysek also brings financing capabilities to the Company
having been involved in raising over $25 million for various
explorations and development projects since 1999. Mr. Matysek is also a
member of the Association of Professional Engineers and Geoscientists of
British Columbia.

Advanced Explorations Inc. ("AEI") has recognized a unique business
opportunity and has assembled industry experts, capabilities and
technology not previously undertaken by a junior company. The company
has assembled leaders in hyperspectral mineral applications and will
utilize ESSI's Probe-1 scanner and existing hyperspectral database to
generate exploration opportunities around the world. AEI will be working
closely with Mr. Dave Stevens, President of Geo-Probe Inc. a wholly
owned subsidiary of Earth Search Science Inc. Mr. Stevens, a former
Vice-President, Exploration for Noranda Inc. has extensive experience
managing the mineral exploration data received from ESSI's Probe-1
hyperspectral instrument. He will re-associate with John Gingerich, GBSI
President and former Director of Research and Technical Innovation for
Noranda/ Falconbridge Exploration, who led the development of Noranda's
hyperspectral program. Both men are highly respected in the mineral
exploration industry world wide. They will also be joined by Mike
Peshko, GBSI Vice- President, who is a former Noranda Inc. remote
sensing exploration specialist who has been extensively involved in the
geological applications of hyperspectoral imaging technology for the
last eight years directly managing the acquisition of over 200,000 sq km
of airborne hyperspectoral data in 7 countries.

On February 14th, the Company signed a Memorandum of Understanding
("MOU") with Earth Search Science Inc. ("ESSI") located in Montana,
U.S.A. and Geologic Business Solutions Inc., ("GBSI") of Toronto,
Ontario. This MOU establishes a joint venture between the parties, with
AEI obtaining the rights to access and acquire hyperspectral technology
from ESSI and GBSI (subject to regulatory approvals in Canada and the
USA), to create a leading-edge technology company focused on generating
mineral target and projection opportunities. The company will utilize
this combination of hyperspectoral imaging technology and unique
technical expertise related to the application of hyperspectoral
technology to mineral exploration in order to generate revenues and
secure equity positions in emerging exploration regions worldwide.

This news release 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.

Issued and Outstanding: 8,174,394


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Advanced Explorations Inc.
    Gary Williams
    President/CEO
    (416) 570-0629
    or
    Geo-Probe Inc.
    Dave Stevens
    President
    (253) 307-5611
    or
    Geologic Business Solutions Inc.
    John Gingerich
    President/CEO
    (416) 570-3250
    The TSX Venture Exchange has neither approved nor disapproved the
    information contained herein and does not accept responsibility for the
    adequacy or accuracy of this release.