Advanced Explorations Inc. Reports Additional High Grade Iron



    TORONTO, Oct. 30 /CNW/ - Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce new assay results from the 2008 drilling
campaign at its Roche Bay magnetite project in Nunavut, Canada. Drill-hole
RBC-08-72, drilled on section 12600 N, intersected a 163 metre interval of
Banded Iron Formation ("BIF") averaging 29.0% iron including an 86 metre
interval averaging 32.7% iron. Results continue to confirm the project
potential with the latest assays ranging from 23.36% to 34.95% iron consistent
with previous releases.
    Additionally, drill-hole RBC-08-70, drilled on section 9400 N and
collared 3.2 kilometres south of drill-hole RBC-08-72, has intersected a 195.4
metre interval of BIF averaging 27.9 % iron including a 44 metre interval
grading 34.95% iron. Drilled from 960 E, drill-hole RBC-08-72 undercuts
several holes drilled in 2007 and confirms the presence of iron at
considerable widths and depths near the centre of the main C-Zone. These
results indicate broad widths of BIF, as well as subintervals of higher grade
iron mineralization, occurring over the entire length of the C-Zone.
    Please see the attached table for additional current drilling details.
    John Gingerich, President & CEO of AEI, commented;

    
    "These results continue to meet our expectations regarding the potential
    of the Roche Bay magnetite deposit. We remain encouraged by the C-Zone
    grade consistency along its strike. We are also very pleased that the
    results further support our business model and the development of a
    nugget plant operation."

    Note: All drill-holes are NQ sized drill core (47.6 mm in diameter).
Partial results from RBC-08-68 were released on September 26, 2008; current
results are for the entire drill-hole.

    -------------------------------------------------------------------------
    Hole          Line Coordinate             From     To    Interval % Iron
    Number        (N)     (E)    Dip  Azimuth  (m)     (m)     (m)      (Fe)
    -------------------------------------------------------------------------
    RBC-08-68    10400    800    -55    305   10.1    134.5   124.4    23.36
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  248.0    272.0    24.0    32.43
    -------------------------------------------------------------------------
    RBC-08-69    10000    775    -45    305    5.9    116.2   110.3    25.03
    -------------------------------------------------------------------------
       (*)        (*)  including (*)    (*)   33.5     64.0    30.5    31.35
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  144.0    174.4    30.4    25.60
    -------------------------------------------------------------------------
    RBC-08-70     9400    775    -70    305   48.5    105.8    57.3    25.47
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  114.3    309.7   195.4    27.90
    -------------------------------------------------------------------------
       (*)        (*)  including (*)    (*)  213.0    257.0    44.0    34.95
    -------------------------------------------------------------------------
    RBC-08-71    10200    800    -45    305    6.0    164.5   158.5    24.78
    -------------------------------------------------------------------------
       (*)        (*)  including (*)    (*)   20.0    120.6   100.6    26.96
    -------------------------------------------------------------------------
    RBC-08-72    12600    960    -50    305   69.0    103.2    34.2    30.08
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  126.0    289.1   163.1    29.00
    -------------------------------------------------------------------------
       (*)        (*)  including (*)    (*)  160.0    246.0    86.0    32.70
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  310.1    336.7    26.6    26.04
    -------------------------------------------------------------------------
    RBC-08-73    10000    850    -65    305    3.7    172.3   168.6    24.73
    -------------------------------------------------------------------------
       (*)        (*)  including (*)    (*)   52.0    104.0    52.0    31.58
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  198.3    231.8    33.5    23.99
    -------------------------------------------------------------------------
    RBC-08-74           RESULTS
                      INCOMPLETE
    -------------------------------------------------------------------------
    RBC-08-75    12400    800    -55    305   27.1    156.0   128.9    27.11
    -------------------------------------------------------------------------
       (*)        (*)  including (*)    (*)   50.0    108.8    58.8    30.93
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  177.6    210.9    33.3    26.63
    -------------------------------------------------------------------------
       (*)        (*)     (*)    (*)    (*)  236.5    279.7    43.1    27.02
    -------------------------------------------------------------------------
    RBC-08-76    10800    800    -45    305    3.2     66.5    63.3    25.68
    -------------------------------------------------------------------------
    RBC-08-77    10600    800    -65    305    5.6     35.2    29.6    29.74
    -------------------------------------------------------------------------
    

    Gary Williams, P. Geo and VP of Advanced Explorations Inc. is the QP
within the meaning of NI 43-101 and has reviewed and approved the content of
this release.

    ON BEHALF OF THE BOARD

    John Gingerich, President and CEO

    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 for
2007 were 1 metre and increased to 2 metres except where intervals cross
geologic boundaries in which case the sample length is adjusted accordingly.

    ABOUT Advanced Explorations Inc.

    Advanced Explorations Inc., based in Toronto, Ontario, is a mining
exploration company exclusively focused on developing high quality iron ore
opportunities. In early 2007, AEI acquired the option to earn an 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. 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.

    
    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 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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