TORONTO, June 5 /CNW/ - Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce that its independent consultants have submitted
a draft of their findings from the preliminary economic assessment (the "PEA")
of its Roche Bay Magnetite Project located on the east coast of the Melville
Peninsula in Nunavut. The Company is pleased by the findings and is eager to
release the results of the PEA as soon as the internal review has been
completed and a final version tabled; this release is expected shortly.
John Gingerich, President & CEO of AEI, commented:
"This report has been a long time in the making and now soon to be
released. Based on an initial review of the PEA we are impressed with
the exceptional quality of the work received from a team of independent
qualified persons. The Company believes this report will provide a
valuable basis from which to move the project forward".
AEI is in the process of completing the necessary steps as per the TSX
Venture Exchange and the Regulatory requirements.
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
ABOUT Advanced Explorations Inc.
Advanced Explorations Inc., based in Toronto, Ontario, is a mining
exploration company focused on developing high quality iron ore opportunities.
As part of this strategy, AEI acquired the option to earn a 100% ownership
interest in the Roche Bay Magnetite Project located on the Melville Peninsula
in Nunavut, Canada. 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. Located proximal to a natural deep water harbour the Roche Bay
deposit benefits from transportation efficiencies possibly making it one of
the world's premium iron ore prospects. In 2008, AEI updated its business plan
for the Roche Bay project and is examining moving forward from the traditional
iron pellet operation to a granulated pig iron (nugget) business. Shares of
the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock
Exchange (AE6). For more information please visit
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