TORONTO, Sept. 9 /CNW/ - Advanced Explorations Inc. (the "Company or
AEI") is pleased to announce that it has paid Roche Bay Plc $200,000 on
September 8th, 2008 as required and has extended the deadline to exercise the
Company's option to earn up to a 70% interest in the Roche Bay, Nunavut
John Gingerich, President and CEO of AEI, commented;
"The Company remains on track to secure a majority interest in the
Roche Bay iron ore project. We expect our resource statement and
preliminary economic assessment to be completed in the near future.
In addition to the study evaluating a traditional iron ore mine plan,
AEI is also examining the potential impact of developing additional
business opportunities that can be tied to the iron ore project. The
Company remains focused on developing the Roche Bay project and
creating value for its shareholders."
As previously announced on September 4th, 2008 the Company's option has
been extended to no later than November 15th, 2008, and the transaction
remains subject to the approval of the TSX Venture Exchange and, if required
pursuant to applicable securities laws, to the approval of the shareholders of
ON BEHALF OF THE BOARD
John Gingerich, President & C.E.O.
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 is
located proximal to a natural harbour which 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
THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE
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