Advanced Exploration Intersects Higher Grades Than Expected: 185 Metres of 31.7% Fe

Advanced Explorations Inc. (TSX VENTURE: AXI) (the "Company" or "AEI") is pleased to announce assay results from the first fence of holes drilled on Section 1400S. Hole RB-07-02E intersected 185 metres of banded iron formation averaging 31.7% Fe which included an interval of 82 metres averaging 34.0% Fe. Hole RB-07-03W drilled from the same collar location but opposite direction intersected 145 metres of banded iron formation averaging 28.8% Fe which includes an interval of 46.8 metres that averaged 34.1% Fe. The Company is very encouraged by these results that are significantly higher than reported in DDH-82-C1 drilled on the same section in 1982.

"We are pleased with the assay results from the first holes." Mr Gingerich, President and CEO of Advanced Explorations Inc went on to say; "Additional work is required to fully explain the higher grades than reported in 1982 drilling. These preliminary findings are certainly encouraging and may justify twinning some of the drill holes on the other Zones (A, B, D and E) that were the focus of the 1982 drilling to see if similar results can be obtained."

The drilling on 1400S indicates the main body (zone 1) of the C Zone has significant iron mineralization over a true width of about 240 metres. The potential for significant widths at higher grade is also indicated. Reports from the SGS lab also indicate most of the iron mineralization is magnetite. In the higher grade sections there is a strong relationship between total Fe content and Satmagan determined magnetite content (pure magnetite, Fe2O3, contains approximately 72% Fe).

The Roche Bay, iron formation deposits are interpreted to be steeply dipping isoclinally folded iron formation flanked by calc-silicate metasediments. Geologic analysis suggested the eastern flank of the "C" Zone which has a mapped strike of over 5000 metres has been intruded by late stage gabbroic dykes. The current program is focused on the western flank of the C Zone which was one of 5 zones (A, B, C, D and E) identified in previous exploration programs undertaken in the early 1980s. Based on the field work in 1982, 1.14 billion tonnes was estimated in the 5 zones with an iron grade between 24% and 34%. The potential quantity and grade is conceptual in nature, as there has been insufficient exploration to define a mineral resource. Although these historical references of resource potential are relevant to recognizing the potential of the Roche Bay property, they should not be relied upon and accordingly no claim to resources under NI 43-101 is made. The Company has not verified the classification of the historic resource references and is not treating them as NI 43-101 defined resources as defined in Sections 1.2 and 1.3 of NI 43-101.

DDH Summary 1400S

                         From        To     Interval     Total Fe     Fe2O3
Section           Hole     (m)       (m)          (m)          (%)       (%)

1400S        RB-07-02E      6     191.0        185.0         31.7      36.2
             Including     10      92.0         82.0         34.0      44.5
1400S        RB-07-03W      5     150.0        145.0         28.8      31.6
             Including      7      53.8         46.8         34.1      45.1
1982
Data
1400S      DDH-82-C1(1)  19.2     249.3        230.1         25.7        NA
             including   19.2     178.2        159.0         29.1        NA

(1) Hole was drilled in1982 using BQ core. There are QA/QC issues and
    insufficient core to re-assay this hole. Thus information provided as a
    reference only. Drill hole DDH-82-C1 is located 100 metres to the east
    of RB-07-02E and drilled a crossing pattern (scissored). The first 150m
    of mineralization is expected to be comparable to the RB-07-02E results.
    Lower values are noted in the 1982 program.

The Company continues to drill on site and provisions are being made to extend the current drill campaign. Results on two additional drill fences on zone 1 are expected to be released shortly once internal review and QA/QC are completed. However, with the mining industry going "flat out" the Company is experiencing the same backlogs of analysis as reported by other companies.

The geologic information within this release is in part extracted from a qualifying report filed on Sedar (Paul Palmer, et al of Golder Associates Ltd.). Gary Williams P. Geo and VP of Advanced Explorations Inc is the QP within the meaning of 43-101, and has reviewed and approve the content of this release.

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 (Fe2O3). The company augments the laboratory QA/QC procedures by selectively adding additional control samples. Core sample intervals are 1 metre except where intervals cross geologic boundaries in which case the sample length is adjusted accordingly.