Advanced Explorations Inc.
TSX VENTURE : AXI

Advanced Explorations Inc.

August 13, 2007 10:05 ET

Advanced Explorations Inc.: Positive Metallurgical Results Consistent with Previous Studies

TORONTO, ONTARIO--(Marketwire - Aug. 13, 2007) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) is pleased to announce that preliminary results from testing undertaken by SGS Lakefield this year are consistent with analysis undertaken in the 1970s and 1980s. Results indicate that fine grinding and magnetic separation can produce a high grade concentrate averaging greater than 67% Fe. The most significant difference from past results is that the recent Lakefield flotation studies suggest that residual sulphides can be floated and reduced to acceptable concentrate levels of less than 0.05%. Accordingly it appears that a high Fe grade concentrate should be possible with deleterious (penalty) elements preferentially reporting to tails.

"The current program continues to provide very positive results". John Gingerich, President and CEO of Advanced Explorations Inc. went on to say, "Currently our primary focus is to generate an updated resource by early fall which is NI43-101 compliant. Obviously defining a large tonnage will play well to investor expectations but we cannot understate the significance of these metallurgical findings. The ability to produce a high quality saleable product will be essential in establishing the potential value of those tonnes."

Producing pellets as a means to reduce sulphur in the concentrate was part of the Company's initial business plan. The flotation results open up additional possibilities in the potential marketing of concentrates that will need to be considered in future economic studies. Pelletization testing undertaken by the Ontario Research Foundation in 1982 indicated the potential to possibly produce a high quality Direct Reduction (DR) pellet which currently command about a 30% premium over blast furnace pellets. The Company has not yet completed the updated pellet studies and cannot confirm the previous findings at this time. Results from the Company's pelletization testing are not expected until early 2008.

The other significant finding of SGS Lakefield is confirmation of the relatively soft nature of the iron formation. The Bond Work Index (BWI) provides an indication of the amount of energy required for grinding ore. Grinding is typically the most energy intensive process of the entire mining operation. A bond index of greater than 20 kWh/t is not uncommon in highly silicified iron deposits such as the Taconite mines of Wisconsin. The SGS Lakefield bond index results for the Roche Bay samples ranged from 9 to 11 kWh/t which compares with the 8.1 to 9.1 kWh/t results obtained by the Ontario Research Foundation in the 1980s. The Roche Bay mineralization is considered to be a medium-soft rock and more studies are underway to better define the rock attributes. The findings to date will have a significant impact on grinding requirement considerations in future economic studies.

Gary Williams P. Geo and VP of Advanced Explorations Inc is the QP within the meaning of 43-101, and has reviewed and approves the content of this release.

ON BEHALF OF THE BOARD

John Gingerich P. Geo, 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 with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay iron ore 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 one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI.

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.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.

Contact Information

  • Advanced Explorations Inc.
    John Gingerich P. Geo
    President & CEO
    (416) 203-0057