Advanced Explorations Inc.

Advanced Explorations Inc.

November 19, 2007 09:47 ET

Advanced Explorations Inc. Program and Financing Update

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2007) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI) is pleased to announce that the Company has completed 37 diamond drill holes comprising 9277 metres on the Roche Bay project located on the east coast of the Melville Peninsula, Nunavut. The drill program has tested "zone 1" over a strike of 4000 metres. Zone 1 is one of two parallel banded iron formations that form the "C Zone" which has been mapped over a strike of 5700 metres. Previous studies (drilling, metallurgy, economic) were focused on the A, B, and D zones located on the most northern lease. The potential of these zones had been clearly established by the previous work. This drill program which focused on the C Zone provides a perspective to the significant size potential of the iron deposits.

Drilling on the project has ceased for this year, and is expected to commence again early in the new year. The objective is to ramp up from two drills to four drills and potentially a fifth in next year's campaign. Over the next few months we will be focusing on providing a resource statement on zone 1. This work has been contracted to Golder Associates. Another metallurgical sample from zone 1 has been shipped to SGS Lakefield.

John Gingerich, AEI President and CEO, commented:

"We continue to make good progress on the technical programs. This year's drilling has clearly established the size potential of the Roche Bay iron deposits. We have yet to test 50% of the C Zone and in the area where most of the historical work was focused, the Company has yet to drill a hole. Within the 4 leases the Company has over 20 kilometres of iron formation to test and in some instances, such as the C Zone, there are multiple zones to test."

The backlog of assay information from the laboratory is being addressed and the Company expects additional information to be released shortly.

The Company also announces that it has received commitments to the previously announced flow through financings of October 30, 2007 and November 5, 2007 and is in the process of closing these financings. Each unit consists of a common share and a 1/2 share purchase warrant, wherein a whole purchase warrant may be exercised at the price of $3.88 per common share and subject to a 4 month hold period from the date of closing.

AEI will be attending the Mines and Money Show in London, UK. The show runs from November 21 and 22 2007 and the Company will be presenting a talk on the Roche Bay project on the 22nd.


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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