ADVANCED EXPLORATIONS INC.

Advanced Explorations announced positive economics from a Preliminary Economic Assessment of its Roche Bay Magnetite project located on the east coast of the Melville Peninsula in Nunavut, Canada. Highlights include: Annual production of 1 million tonnes of high value 96% - 98% Fe direct reduced iron ("DRI") nuggets; Net Present Value ("NPV") before taxes at a 10% discount rate:US $1.16 billion at US $500 / tonne nugget with a Pre-tax Internal Rate of Return ("IRR") of 24.4 % at US $500 / tonne nugget; Project payback of approximately three to five years on base case assumptions.