Advanced Explorations Inc. Announces Increase in Private Placement Financings



    TORONTO, Aug. 17 /CNW/ - Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce that it intends to increase its previously
announced flow-through financing of up to $1,800,000 (press released August
10th, 2009) by $700,000 for total gross proceeds of up to $2,500,000
(13,888,887 units) due to a strong interest from accredited investors. The
Company closed the first tranche of $1,400,000 (7,777,775 Units) on August
13th. For this second tranche of the financing, AEI may issue a total of up to
6,111,112 flow-through units ("Units") at $0.18 per Unit (the "Offering") Each
Unit consists of one common Flow-through share and one non-transferable,
non-flow-through common share purchase warrant (the "Warrants"). The holder of
Warrants shall be entitled to convert each whole Warrant to a common share of
the Company at an exercise price of $0.25 for 12 months following the closing
of the Offering ("Closing"). All warrants shall expire one (1) year after
Closing.
    The Company is also pleased to announce the addition of up to $225,000 of
non flow-through financing as per the terms announced July 17, 2009. AEI
intends to issue up to 1,500,000 units (the "Units") at a price of $0.15 per
Unit. Each Unit consists of one (1) common share and one (1) non-transferable
common share purchase warrant (the "Warrants") with a term of twenty-four (24)
months from the closing date of the Offering. The holder of Warrants shall be
entitled to convert each whole Warrant to one (1) common share of the Company
at an exercise price of $0.20 in the first twelve (12) months and $0.30
thereafter until the expire date.
    A finder's fee in cash, warrants or a combination of both may be payable
in connection with this placement which will not exceed the maximum allowable
under the policies of the TSX Venture Exchange. The offering and finder's fee
are subject to completion and execution of appropriate documentation and
acceptance for filing by the TSX Venture Exchange.
    The gross proceeds raised from the flow-through funds will be used for
exploration expenditures in the Company's Nunavut Roche Bay Magnetite Project,
which will constitute Canadian exploration expenses (as defined in the Income
Tax Act) and will be renounced for the 2009 taxation year.

    
    ON BEHALF OF THE BOARD

    John Gingerich, President & CEO

    About Advanced Explorations Inc.
    --------------------------------
    

    Advanced Explorations Inc., based in Toronto, Ontario, is a resource
development company focused on developing high quality iron ore opportunities.
With the option to earn a 100% interest in the Roche Bay Magnetite Project
located on the Melville Peninsula in Nunavut, Canada, AEI plans to produce
high quality granulated pig iron (nuggets) from the 357 million tonnes
inferred resource of the project's C-Zone. In the spring of 2009, AEI
announced a preliminary economic assessment for the project indicating a
potential US $2.76 billion net present value, a minimum of 50 years mine life
and a return on investment between three and five years. Led by an experienced
management team with technical, exploration and mining expertise the company
has the capabilities to rapidly advance the Roche Bay Project and explore
other local and global opportunities. Shares of the company trade at the TSX
Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). For more
information please visit www.advanced-exploration.com.

    
    NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
    THAT TERM IS DEFINED WITHIN THE POLICIES OF THE TSX VENTURE EXCHANGE)
    ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
    

    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 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.





For further information:

For further information: (416) 203-0057 x226

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ADVANCED EXPLORATIONS INC.

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