Advanced Explorations Inc. Closes Private Placement Financings for Gross Proceeds Exceeding $2,600,000



    TORONTO, Aug. 21 /CNW/ - Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce the close of its financings as press released
August 13 & 17, 2009 for gross proceeds of $2,611,990. The first tranche of
the financing for gross proceeds of $1,400,000 was closed on August 13th (see
press release), and the second tranche (the "Second Tranche") of 6,902,222
flow-through units (the "FT Units") and non-flow-through units (the "NFT
Units") for gross proceeds of $1,211,990 closed Aug 20, 2009. The Second
Tranche was comprised of 5,888,555 FT Units at $0.18 and 1,013,667 NFT Units
at $0.15.
    Each FT Unit consists of one common flow-through share and one
non-transferable, non-flow-through common share purchase warrant with a term
of 12 months from the closing date of the Offering. The holder of warrants
forming part of the FT Units 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.
    Each NFT Unit consists of one non flow-through common share and one
non-transferable common share purchase warrant with a term of twenty-four
months from the closing date of the Offering. The holder of warrants forming
part of the NFT Units shall be entitled to convert each whole warrant to one
common share of the Company at an exercise price of $0.20 in the first twelve
months after the date issuance of the warrants and $0.30 thereafter until the
expiry date.
    In connection with this second tranche of the financing, the Company paid
finder's fees amounting to a total of $90,007.20 in cash commission and
325,027 in broker's options. As part of the finder's fee payable by the
Company, Sandfire Securities Inc. received a cash commission of $84,007.20 and
297,250 in broker's options. Finder's fees of $6,000 in cash and 27,777
broker's options were also paid to Limited Market Dealer Inc. Each broker's
option will entitle the holder to purchase one unit for a period of one year
from the date of issuance of the broker's option at an exercise price of $0.18
per unit. Each unit shall consist of one non-flow-through common share in the
capital stock of the Company and one common share purchase warrant, each full
share purchase warrant entitling the holder to purchase one non-flow-through
common share for a period of one year from the date of issuance of the
broker's option, exercisable at a price of $0.25 per common share.
    All shares as part of the FT Units and NFT Units and pursuant to the
exercise of the warrants and broker's options are subject to a hold period
expiring December 21, 2009.
    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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