Advanced Explorations WKN A0D8ZT

The MOU is conditional upon the completion of a final agreement by January 30th, 2008, approval of the Company's Board of Directors and is subject to regulatory approvals. The agreement contemplates a multi-stage financing which includes; (1) on or before January 30th, 2008 a private placement of up to 3,000,000 common shares at $4.00 per common share for gross proceeds of $12,000,000 (2) by April 6th, 2008 a convertible debenture in the amount of up to $53,000,000 with a term of 5 years from the date of closing at an interest rate of prime plus 1% per annum, and (3) the right to convert any of the indebtedness under the convertible debentures to common shares at t $5.25 per common share. The MOU contemplates in connection with the foregoing, finder's fees of up to 10% of the gross proceeds raised in cash, payable in common shares, cash or a combination of both. Without the approval of AEI neither MCC nor the debenture provider can hold over 19.8% interests in the capital stock of AEI.

John Gingerich, President and CEO of AEI, commented;

"The MOU with MCC is expected to provide all the funding necessary to take the project past the definitive feasibility study. In addition MCC will collaborate with AEI in developing a broad range of associated businesses opportunities that have the potential to create additional shareholder value. The net effect is to help compress the timeframe to a potential production decision. MCC also brings significant Aboriginal and Government links that will help the Company develop a unique stakeholder development opportunity.

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 www.Advanced-Exploration.com.

ABOUT Melville Capital Corporation

Melville Capital Corporation is a private equity firm with international relationships to private and institutional funds, strategic industry partners and aboriginal leadership. The Chairman and CEO of Melville Capital, Mr. Roman Bittman is a prominent Aboriginal Canadian financier and entrepreneur in the resource, environmental remediation and media industries in Canada, the United States and China. He also manages and advises a team that includes senior executives in infrastructure development. Mr. Timothy German, President of Melville Capital has acted as a consultant and held management positions over the years both private and public sector resource based companies. Mr. William Thomson is a strategic advisor who has been a senior executive with several national and international public logistics, primary manufacturing and infrastructure companies. Mr. Ernie Belyea is a lawyer with broad management experience and is currently senior corporate counsel for Ontario Power Authority. Jim Antoine, a former Premier of the NWT and Chief of Liidlii Kue First Nation, has strong relationships with senior levels of territorial and federal governments and leaders in First Nations, Inuit and Aboriginal communities and businesses across Northern Canada.

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.

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

Contacts: Advanced Explorations Inc. John Gingerich President & CEO (416) 203-0057 Website: www.Advanced-Exploration.com

SOURCE: Advanced Explorations Inc.

www.Advanced-Exploration.com

Copyright 2008 Market Wire, All rights reserved. "

LG!

Daytrader12

Auch bei Cuervo Resources sieht der Börsenbrief klare Vorteile gegenüber den von JSW Steel erworbenen Liegenschaften in Chile. Vierzig Borlöcher, die allesamt hochgradiges Erz zwischen fünfzig und sechzig Prozent enthalten sowie eine um das Zehnfache größere Liegenschaft als die chilenischen Projekte, machen Cuervo für die Explorations-Experten so interessant. Die Ressourcenschätzung nach NI 43-101-Standard soll bei Cuervo zunächst 250 Millionen Tonnen Eisenerz ausweisen und innerhalb der nächsten zwölf bis achtzehn Monate auf eine Milliarde Tonnen Eisenerz ausgeweitet werden.

Die Experten des Börsenbriefs Rohstoffraketen wundern sich, warum ein Stahlkonzern wie JSW Steel sein Geld nicht in Explorer investiert, die schon etwas gefunden haben, anstatt ein “Frühphasenprojekt” überteuert zu kaufen. Würde man bei beiden genannten Gesellschaften nur einen USD pro Tonne Eisenerz (Spotmarktpreis 170 USD / Tonne) ansetzen, müsste die Aktie von Advanced Exploration bei 14,30 Euro notieren und ein Cuervo-Anteil bei 5,15 Euro. Aktuell sind die Aktien beider Eisenerz-Explorer nur wenig mehr als einen Euro wert.

Drilling on the northern extent of C1 has identified a vertical to steeply east dipping zone of high grade banded iron formation that averages 200 metres in thickness, which is characterized by significant sections that grade in excess of 30% Fe in which iron mineralization occurs almost exclusively as magnetite. Only about 2km of the over 5 km of strike has been drilled in detail. This zone remains open to the north and to the south where it appears to be offset by a fault to the east. Drilling has locally tested C1 mineralization in excess of 300 metres vertical depth from surface (analytical results outstanding). Holes RB-07-27 and RB-07-28 drilled on line 1800S are indicative of the higher grade section of C1. Hole RB-07-27 intersected 106 metres averaging 30.41% Fe and Hole RB-07-28 drilled from the same collar location but opposite direction intersected 128 metres averaging 32.32% Fe. (Hole lost at 229 metres ended in BIF grading 33.85% Fe)

A resource calculation and economic study are underway and the Company is currently planning the 2008 drill program which will focus on both in-fill drilling and extending the strike of the high grade zone of C1. Drilling will also commence on the eastern flank of the C Zone (C2) and on the A and B Zones which were the focus of drilling and economic studies in the mid 1980s. At that time the A-B Zones reported a historic resource of 467 million tons ranging from 24% to 34% Fe. The Company has not verified the classification of the historic resource reference and is not treating it as a NI 43-101 defined resource verified by a QP. Although this historical reference of resource potential is relevant to recognizing the potential of the Roche Bay Property, it should not be relied upon. The Company plans to start with 2 drills and expand to 4/5 drills as weather improves.

John Gingerich, President and CEO of AEI, commented;

"We are very encouraged by the results which extend the strike of high grade banded iron formation (C1) with widths at surface up to 270 meters. What has pleasantly surprised us is the presence of parallel iron formations in the footwall that also appear to have economic potential. On the C Zone we have only begun drilling the west flank (C1) and the east flank (C2) as well as the targets on all other leases remains untested. Roche Bay is a very exciting project which continues to reveal additional potential."

Project Summary:

A complete project review is underway in support of the resource calculation, economic studies and the launch of the 2008 drill program. One outcome of the review is that the geologic section represents a simple east facing inclined (not a synform) sedimentary sequence which contain several units of banded iron formation that in general terms appear to increase in grade to the east. The C Zone comprises two major magnetic trends, C1 and C2. Last year's exploration drilling focused on assessing the strike extent of C1 with detailed drilling focused on the higher grade and magnetite rich banded iron formation. Exploration drilling was also carried out to assess banded iron formations within the footwall sequence. Initial drilling was carried out using single setups and multiple directions to better define mineralization geometry. Holes in many instances drill iron formation in both directions.

The geologic interpretation of C1 is that it consists of three distinct styles of mineralization. The high grade magnetite mineralization is characterized by massive banded iron formation having a width at surface ranging from 170 metres to 270 metres. The eastern contact and location of this high grade BIF is defined by a late gabbro intrusive that strikes subparallel to the formation. The high grade BIF can be locally displaced to the east and/or digested within the intrusive. In addition there appears to be a left-handed fault (orientation and offset not precisely defined) that appears to dislocate the higher grade BIF sequence in the vicinity of 2600S. There is a transition zone along the western flank of the high grade BIF that ranges from 50 metres to 100 metres on surface with grades ranging from 26% to 29% Fe. The gradational decrease in grade is also characterized by a slight corresponding decrease in magnetite content. The western contact of the transition zone is defined by a 20-40 metre thick sedimentary unit with low iron content. The remaining sequence (lower footwall) is characterized by multiple, generally narrow sequences of banded iron formation within a broad sequence of calc silicates. The BIF sequences range from 20 to 120 metres in thickness with grades ranging from 24% to 28% Fe. The BIF sequences are not only of lower grade but in general the percentage of total Fe that is magnetite decreases (early analysis suggests 65% to 80% of total iron is magnetite and metallurgical review is underway). The western limits of the sedimentary sequences terminate at a faulted contact with a volcanic unit.

The stratigraphic sequence that defines the eastern magnetic anomaly (C2) is not well defined at this time. Mapping has locally defined well mineralized outcrops of BIF but strike and thickness have yet to be verified with drilling. There is more gabbroic intrusive to the east which typically form local ridges with adjacent areas of shallow talus/overburden covering most of the targets and the reason for limited work to date. With a noted gradational improvement if BIF grades to the east in C1 and local outcrop mapping of massive BIF, drill testing of C2 early in this year's campaign is a priority.

The Company is still awaiting complete results and/or QA/QC review (partial to all) on 12 drill holes 10 of which are on the northern main zone of C1. The delays in receiving analyses from the lab are impacting the timelines for the independent resource calculation to be completed. However these delays have not affected the timeframe for the economic studies which are currently moving forward. Work is being done in parallel in the preparation of an economic study so any delays in getting the information required for the resource calculation will not affect the Company's initial objective to complete the preliminary economic study by this summer.

In preparation for the resource determination the Company undertook a technical audit review of its geotechnical results and QA/QC procedures. The review has not identified any errors in its analytical process but did identify a need to improve database management and information flow.

As a result additional QA/QC management procedures and reporting structure are being implemented. Improving the flow of information and laboratory analysis is a Company priority to avoid the delays experienced in last year's program. Further to this review, all mineralized intervals have been updated using an 18% Fe cutoff and internal dilution zones in excess of 9 meters identified. The significant and updated intervals are summarized in Tables 1 and 2.

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.

Table 1: Main Zone C1 Drilling Summary

--------------------------------------------------
Hole     Section  Surface     Dip  Iron Fm   Iron  Interval   % Fe  Comment
                   Width           (from)     Fm       (m)
                    Zone                m   (to)    
                  C1 (m)                       m
--------------------------------------------------
RB-07-      1400      240     -45        6   23.4      17.4  31.25  Zone C1
02(i)                    degrees
                               E
--------------------------------------------------
                                     33.4    139     105.6  33.25  Zone C1
--------------------------------------------------
RB-07-      1400      240     -45        0   82.3      82.3  31.11  Zone C1
03(i)                    degrees    
                               W
--------------------------------------------------
                                     82.3  149.9      67.6  25.38     C1 -
                                                                   transi-
                                                                      tion
--------------------------------------------------
                                        0  149.9     149.9   28.5
--------------------------------------------------
RB-07-      1800      270     -45        4   52.6      48.6   25.11    C1 -
04(i)                    degrees                                   transi-
                               W                                      tion
--------------------------------------------------
                                     97.2  119.8      22.6  25.31     C1 -
                                                                  footwall
--------------------------------------------------
                                     97.2  171.7      74.5  20.39     C1 -
                                                                  footwall
--------------------------------------------------
RB-07-7(i)  1800      270     -45      5.8 248.96    243.16  30.26     Zone
                         degrees                                        C1
                               E                                        
--------------------------------------------------
RB-07-9     1800      270     -90        0     56        56  23.55     C1 -
                         degrees                                  footwall
--------------------------------------------------
                                    67.52  111.4     43.88   26.8     C1 -
                                                                  footwall
--------------------------------------------------
RB-07-11    2200      170     -45       53  109.5      56.5  32.52  Zone C1
                         degrees
                               E
--------------------------------------------------
RB-07-14    2600      170     -45    66.56    130     63.44  28.45     C1 -
                         degrees                                   transi-
                               W                                      tion
--------------------------------------------------
                                    66.56    229    162.44  25.19
--------------------------------------------------
RB-07-17    2600      170     -45        8   37.8     29. 8  25.95      C1-
                         degrees                                   transi-
                               W                                      tion
--------------------------------------------------
RB-07-18    2600      170     -45       48   90.3      42.3   21.1     C1 -
                         degrees                                  footwall
                               E
--------------------------------------------------
                                     95.3  186.2      90.9  28.18     C1 -
                                                                   transi-
                                                                      tion
--------------------------------------------------
RB-07-24    3000      100     -45       37    163       126  28.24     C1 -
                         degrees                                   transi-
                               W                                      tion
--------------------------------------------------
RB-07-26    2200      170     -45     9.47  22.53     13.06   27.1     C1 -
                         degrees                                  footwall
                               W
--------------------------------------------------
                                       54   93.1      39.1  24.83     C1 -
                                                                  footwall
--------------------------------------------------
RB-07-27    1800      270     -45        6    112       106  30.41  Zone C1
                         degrees
                               W
--------------------------------------------------
                                        6    163       157   28.5  Zone C1
--------------------------------------------------
RB-07-28    1800      270     -65        2    229       227     28  Zone C1
                         degrees    
                               E
--------------------------------------------------
                                      101    229       128  32.32  Zone C1
--------------------------------------------------
RB-07-30    3000      100     -45       97    231       134  26.73     C1 -
                         degrees                                   transi-
                               E                                      tion
                                                                    Cut by
                                                                     dyke/
                                                                     fault
--------------------------------------------------
RB-07-32    1400     2400     -60    26.64    155    128.36     31  Zone C1
                         degrees
                               W
--------------------------------------------------
                                      155    252        97  24.95     C1 -
                                                                   transi-
                                                                      tion
--------------------------------------------------

(i)Previously reported
Results and/or QA/QC outstanding on 10 holes


Table 2: Exploration Drilling Footwall :

--------------------------------------------------
Hole      Section     Dip   Iron Fm   Iron Fm    Interval   % Fe    Comment
                          (from) m    (to) m         (m)
--------------------------------------------------
RB-07-6     50000     -45      6.54       154     147.46    25.1       C1 -
                 degrees                                          footwall
                       W
--------------------------------------------------
                               163       166          3   63.48  Secondary
                                                                        Fe
--------------------------------------------------
                            194.86    197.47       2.61   53.79   Mixed Fe
--------------------------------------------------
RB-07-15     4200     -63     37.39     138.4     101.01   25.86       C1 -
                 degrees                                          footwall
                       W
--------------------------------------------------
RB-07-20     4600     -70         6        60         54   27.44       C1 -
                 degrees                                          footwall
                       E
--------------------------------------------------
RB-07-21     4600     -45         4     66.88      62.88   26.18       C1 -
                 degrees                                          footwall
                       W
--------------------------------------------------
                             97.43    124.85      27.42   26.20       C1 -
                                                                  footwall
--------------------------------------------------
RB 07-23     3800     -45      8.59     80.98      72.39   31.27       C1 -
                 degrees                                           transi-
                       E                                              tion
--------------------------------------------------

No significant results in holes RB-07-05, RB-07-08, RB-07-19
Results and/or QA/QC outstanding on two holes


Analysis: All the recent drill core analysis reported in this release was performed by SGS Lakefield Research. At SGS samples are analyzed for total Fe using XRF techniques. SGS also undertakes Satmagan analysis to estimate the portion of magnetic iron. The company augments the laboratory QA/QC procedures by selectively adding additional control samples. Core sample intervals are 1 metre except where intervals cross geologic boundaries in which case the sample length is adjusted accordingly.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company 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 which was acquired in June, 2007, as well as develop new opportunities in the area and globally. The Roche Bay magnetite project located proximal to a natural harbour 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 www.Advanced-Exploration.com.

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.

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

Contacts

John Gingerich
Advanced Explorations Inc.
President & CEO
(416) 203-0057
Website: www.Advanced-Exploration.com

This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

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

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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Advanced Explorations, Inc.
John Gingerich, 416-203-0057
john@advanced-exploration.com
or
Standard & Poor's
Customer:
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richard_albanese@standardandpoors.com
or
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michael_privitera@standardandpoors.com  

Mr. Bernie Swarbrick has over 18 years of mining sector experience relating to the field of environmental / health and safety management, both within Canada and internationally. The breadth of experience in this field extends to both open pit and underground mines, mills, smelter / refineries, industrial sites, and exploration projects. Positions held include senior management roles in both operating and project environments. Mr. Swarbrick's responsibilities have included the implementation of environmental assessments / baselines, facility permitting, environmental / health and safety management systems (including ISO 14001), environmental compliance plans, health and safety compliance plans, EHS auditing, environmental design, risk management, design and the setting of health, safety and environmental targets / key performance indicators. He has been directly involved with public, government, and Aboriginal stakeholders to provide consultation, facilitated communications, and the development of EHS solutions to complex technical issues. He has fulfilled a variety of roles in a number of jurisdictions including Ontario, the Nunavik region of Quebec, Australia, the French Overseas Territory of New Caledonia, Madagascar, and South America (Chile).

The Company is also preparing to issue a total of 1,145,000 options to directors, consultants and management, at a price of $1.65. Options are granted as of February 24, 2008 vesting immediately, and are good for a period of 5 years.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of the Roche Bay iron ore project and strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project which was acquired in June, 2007, as well as develop new opportunities in the area and globally. The Roche Bay magnetite project located proximal to a natural harbour 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 www.Advanced-Exploration.com.

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.