December 01, 2009 15:13 ET

eResearch Issues Initiating Report on Advanced Explorations Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - Advanced Explorations Inc. is an iron ore exploration company, focused on developing high-quality iron ore opportunities. The Company's focus changed with its acquisition of a 50.1% interest in certain leases, known as the Roche Bay Magnetite Project, pursuant to an option agreement between Advanced Explorations and Roche Bay plc and dated January 7, 2007. As a result of this option agreement, Advanced Explorations is currently focused on one iron ore exploration and development project, located on the Melville Peninsula in Nunavut in the Canadian Arctic.

The Company's key strategy is to seek a strategic partner to support the project through the definitive feasibility study phase and beyond. Although sufficient funding is currently in place to execute the Company's basic objectives, substantial capital expenditures of an estimated US$20 million will be required over the next few years to assess the feasibility of the Project.

The Company's experienced management team and Board of Directors have decades of extensive experience in mining and in the technical aspects of mine development and operations, including in the harsh environment of the Arctic.

Selling at $0.17 per share, we have a 12-month Target Price of $0.60. We recommend Advanced Explorations Inc. as a Speculative Buy for risk-tolerant investors.

This Press Release was prepared by eResearch and was not vetted by Advanced Explorations Inc. Further, the Recommendation and Target Prices contained in this Press Release and in the Initiating Report are strictly those of eResearch and, due to securities laws, are not endorsed by Advanced Explorations Inc.

eResearch is a primary source for professional investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network.

Advanced Explorations Inc. paid eResearch a fee to conduct research on the Company, on an Annual Continuous Coverage basis.

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