Advanced Explorations Inc.
TSX VENTURE : AXI
FRANKFURT : AE6

Advanced Explorations Inc.

June 01, 2011 10:30 ET

Advanced Explorations Announces Appointment of New Vice President of Business Development

TORONTO, ONTARIO--(Marketwire - June 1, 2011) -Advanced Explorations Inc. (TSX VENTURE:AXI)(FRANKFURT:AE6)(the"Company" or "AEI") is very pleased to announce that Douglas Currie has joined the AEI team as the new Vice President of Business Development. Mr. Currie's extensive achievements, senior management experience and proven track record in the international mining industry will prove invaluable in assisting AEI deliver its Roche Bay development agenda and ultimately advance the Company's growth strategy in Canada and abroad

John Gingerich, President and CEO, commented:

"We were extremely pleased to have been able to attract yet another experienced and knowledgeable member of the mining industry to our senior management team. In this newly created position, Doug will utilize his managerial background and vast international exploration and joint venture management experience to ensure efficient program implementation and manage the Company's pipeline of projects. Doug will also take charge of new exploration and development opportunities for the Company within the broader iron ore market. With Doug on board to strengthen the team in this strategic area and with a solid cash position, we are looking forward to further focusing our efforts in growing the company".

Prior to joining AEI, Doug Currie held senior and executive management positions with exploration and mining companies in both Canada and Australia. He has a broad depth of experience in numerous commodities, has led grassroots and brownfields gold exploration programs and participated in mineral resource delineation, Feasibility Studies and mine development projects on five continents, exploring for gold, copper-gold, silver-lead-zinc, nickel, uranium, and industrial minerals. Doug has been involved in the discovery of over 25 million ounces of gold in four significant new gold deposits and several satellite deposits near existing mine sites in Western Australia, and in Guinea, West Africa.

He has negotiated and successfully managed international exploration agreements and has participated in several large corporate transactions (mergers-acquisitions) and corporate start-ups. Doug has also participated in the evaluation, due diligence reviews and strategic assessments of exploration properties, mining opportunities and corporate acquisitions.

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 its Roche Bay Iron Ore Project in Nunavut, one of the world's largest developing iron ore districts. The Roche Bay Project is located proximal to a natural deep water harbour on the east coast of the Melville Peninsula in Nunavut, Canada giving it many logistical advantages. The project has an indicated resource of 323 million tonnes, outlined within a small portion of the potential 140 km of banded iron formation. This iron formation incorporates the Roche Bay deposits, the Company's Tuktu deposits and other targeted deposits in areas to the north, south and west of the Company's Roche Bay Project. The preliminary economic assessment from the Roche Bay deposit alone indicates a potential net present value of US $1.1 billion, and the potential for rapid advancement into development of either iron concentrate or high value iron nugget products. The management team has extensive technical, exploration and Canadian Arctic mining expertise to effectively develop the high quality iron ore opportunities on the Melville Peninsula.

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