Advanced Explorations Inc.

Advanced Explorations Inc.

April 27, 2009 08:00 ET

Advanced Explorations Inc. Announces Filing of NI 43-101 Technical Report

TORONTO, ONTARIO--(Marketwire - April 27, 2009) - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce that the NI 43-101 compliant resource estimate (the "Resource Estimate") for its Roche Bay Magnetite Project has been completed by Golder Associates and filed on SEDAR. As previously reported on March 12th, 2009, the global resource estimate for the project's C-Zone amounts to 357.0 million tonnes at an average grade of 28% iron to a depth of 250 metres below surface.

John Gingerich, President & CEO of AEI, commented:

"With the completion of the NI 43-101 Technical Report we have achieved a significant milestone for the Company. It will enable us to finalize the project's economic study which represents a key element to demonstrating the strength of our project to potential strategic partners and investors. As the C-Zone is only one of the five deposits comprising the entire property, we are confident that we have a large resource with an excellent life-of-mine prospect".

The National Instrument NI 43-101 compliant Resource Estimate was completed by Golder Associates Ltd. ("Golder") in conformance with the CIM Standards of Disclosure for Mineral Projects. It is the Roche Bay Magnetite Project's first NI 43-101 mineral resource estimate that AEI has published for the deposit and is based on 92 NQ holes from the 2007 and 2008 exploration programs on C-Zone completed under the direction of AEI. Please see resource details below.

C-Zone - Roche Bay Magnetite Project
Inferred Resource Estimate
Cut-off Magne-
grade Tonnes Total tics Si0(2) Al(2)0(3) Mn0 P(2)0(5) S LOI
Fe (%) (Mt)(*) Fe (%) (%)(xx) (%) (%) (%) (%) (%) (%)
20 500.3 26.76 25.62 51.17 2.87 0.07 0.20 0.77 0.82
22 481.9 26.97 26.04 51.07 2.79 0.07 0.20 0.76 0.79
24 414.5 27.59 27.39 50.71 2.59 0.07 0.20 0.73 0.69
25 357.0 28.07 28.57 50.37 2.44 0.07 0.20 0.71 0.62
26 287.7 28.70 30.09 49.88 2.27 0.06 0.20 0.67 0.54
28 157.2 30.17 33.66 48.67 1.92 0.05 0.20 0.59 0.33
30 72.3 31.63 37.10 47.52 1.64 0.05 0.20 0.50 0.07


(*) All values rounded to the nearest 100,000 Tonnes (xx) Magnetics is reported directly by SGS Lakefield Research Limited (SGS) laboratory as % Fe(3)0(4) and is the percentage of contained magnetics based on Satmagan test work. It assumes that all recovered material is magnetite. Golder accepts this as reasonable considering the pyrrhotite content is low as demonstrated by the sulphur assays.

Golder considers that for the purpose of public reporting it is appropriate to use the 25% iron cut-off grade which defines an Inferred Mineral Resource of 357.0 million tonnes at an average grade of 28.07% iron to a depth of 250 metres below surface. AEI has advised Golder that they have preliminary metallurgical test work and studies to suggest an economically viable product can be produced from material of this grade.

The mineral resource estimate for the Roche Bay Magnetite Project was completed under the supervision of qualified persons (Mr. Paul Palmer, PGeo., P.Eng of Golder and Dr. Bill Shaw, FAIG, RPGeo FAusIMM, CPGeo of Golder Associates Pty Ltd in Australia) who have provided written permission for the release of this resource estimate in the form and context in which it is provided here.

The Company also wishes to announce that Jim Doak has resigned from the board of directors as he is obligated to fulfill other commitments. AEI thanks Jim Doak for his service and wishes him every success in his future endeavors. The Company's AGM will be called shortly and additional Board members will be added then.


John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a mining exploration company focused on developing high quality iron ore opportunities. As part of this strategy, AEI acquired the option to earn a 100% ownership 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. In 2008, AEI updated its business plan for the Roche Bay project and is examining moving forward from the traditional iron pellet operation to a granulated pig iron (nugget) business. Shares of the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). For more information please visit




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.

Contact Information

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