Advanced Explorations Inc.

Advanced Explorations Inc.

November 22, 2007 11:20 ET

Advanced Explorations Inc. Closes $6,792,000 in Flow Through Financing

TORONTO, ONTARIO--(Marketwire - Nov. 22, 2007) - Advanced Explorations Inc. (the "Company") (TSX VENTURE:AXI) is pleased to announce the completion of the non-brokered private placement previously announced on October 30th. A total of 2,400,000 Flow-through units (the "Units") were sold at a price of $2.83 per Unit, for gross proceeds of $6,792,000. Each unit comprises one common share of the Company and one half non-flow through share purchase warrant, wherein each whole share purchase warrant shall be exercisable at the price of $3.88 per common share. All issued Shares and issuable Shares pursuant to the exercise of share purchase warrants will be subject to a 4 month hold period from the date of issuance of the units. All warrants are exercisable for a term of 2 years from the date of distribution of the units. In connection with the private placement, the company has paid total commissions of $679,200 in cash and 120,000 compensation warrants priced at $2.83 with a 2 year term.

John Gingerich, AEI President and CEO, commented:

"With this financing the company has a strong balance sheet from which to aggressively accelerate our technical program. Over the next few months we will continue to pursue new business opportunities and working relationships such as with the First China Capital Group which helped establish our China off-take agreement. The key objective of our current business development strategy is to enhance the project economics while reducing project risk."

Ensign Capital assisted the Company in concluding this financing.


John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, has been developing a strategy to leverage its expertise and experience in identifying business opportunities within the Resource sector. The company has recently expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project, as well as develop new opportunities in the area and globally. The Roche Bay magnetite project located proximal to a natural port makes it potentially one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI. 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 of 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.


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