Advanced Explorations Engages Miller Mathis & Co.

    TORONTO, Aug. 13 /CNW/ - Advanced Explorations Inc. (the "Company" or
"AEI") is pleased to announce it has engaged Miller Mathis & Co. LLC ("Miller
Mathis" or "the Advisor") for the purpose of assisting the Company in finding
strategic and/or financial partners to further its Roche Bay Project in
Nunavut, Canada. As the Company expects to release its preliminary economic
assessment in the near future, it is looking for a partner with the
capability, depth and experience that will enhance the development of the
Company's Roche Bay Project.

    John Gingerich, President and CEO of AEI, commented;

        "Introducing a financial or strategic partner to our project is the
        next important step supporting our efforts to advance the Roche Bay
        Project to a development stage. We are pleased to be able to engage a
        reputable organization such as Miller Mathis in assisting us with
        this process."

    Robert M. Miller, Senior Managing Director of Miller Mathis, said:

        "We are delighted to assist the company in finding a
        strategic/financial partner to develop the Roche Bay project. We
        believe that the company and the project have a number of compelling
        attributes that will make it desirable to the investment and mining

    The Company also wishes to announce that in furtherance to the press
releases dated June 13, 2008 and July 17, 2008, the Company will not proceed
with the Melville Capital Corporation debenture and equity financing. AEI is
looking forward to the new opportunities that the Miller Mathis team can bring


    John Gingerich, President & CEO

    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, to 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

    ABOUT Miller Mathis & Co. LLC

    Miller Mathis is an affiliate of Rodman & Renshaw, a U.S.-based broker
dealer (NASDAQ:   RODM). Miller Mathis is widely recognized as the No. 1
independent investment bank to the global steel, metals and mining sector. The
company specializes in strategic advice and mergers and acquisitions, with
particular experience in finding strategic or financial partners and buyers
for development stage projects and companies. Robert M. Miller, the Senior
Managing Director of Miller Mathis, is an internationally renowned expert in
steel, metals and mining.


    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 of 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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