AXI

Advanced Explorations Inc. (TSX VENTURE:AXI)(FRANKFURT:AE6) (the "Company" or
"AEI") today announced that it has signed a Memorandum of Understanding (MOU)
with Logistec Stevedoring Inc. ("Logistec") for the further development of AEI's
shipping concept, terminal, and marine services. Logistec and AEI will work
jointly on the development and operation of the terminal facility with its
related infrastructure servicing the Roche Bay Project. 


Logistec provides over 6 decades of stevedoring and terminal operations at its
facilities located in 24 ports in North America. In addition to several other
successful projects, Logistec provided marine and shipping support to Baffinland
Iron Mines Corporation during the bulk sampling program in 2008. The direct
Arctic experience and proven operational expertise in the region make Logistec
the partner of choice for AEI as it relates to formulating a proper solution for
the Roche Bay port facility and putting in place cost efficient operations.


The MOU also provides that AEI and Logistec will join efforts to explore
financial models and structures with respect to the Roche Bay port facility as
well as the shipping and terminal assets with a view that such financial models
and structures could be self financing, thereby lowering the capital
expenditures necessary to get the Roche Bay Project into production. This
agreement with Logistec strengthens the Roche Bay development team with respect
to a key component and will materially de-risk the Project, leveraging
Logistec's expertise in Nunavut, combined with a current and relevant
operational understanding of shipping in the region. 


The Roche Bay port and shipping concept is an essential key parameter for the
success of the Roche Bay Project. Accordingly, Logistec provides the experience
and efficiency needed to create a sustainable and scalable port facility to
service future potential development at Roche Bay, Tuktu, and other developments
on the Melville Peninsula. Going forward, this port is going to be an important
strategic asset for AEI, Logistec, and the Government of Nunavut.


The unique coastal location of the Roche Bay project eliminates the need for
transportation infrastructure such as railroads. This substantial location
advantage at Roche Bay has recently been further highlighted by the railroad
uncertainty that has affected the potential iron ore developments located in the
Labrador Trough. Rail is a key infrastructure bottleneck and places considerable
risk and uncertainty as to when and if these rail-dependant projects can move
forward. AEI's advancement of its port infrastructure and lack of onerous rail
requirements puts AEI in a positive light relative to these other projects.


John Gingerich, President & CEO, commented:

"As we have seen recently, there is a renewed sensitivity in the market to
project CAPEX and execution. In response to this, AEI has engaged Logistec to
determine the most efficient way to reduce CAPEX and project risk as it relates
to the Roche Bay port facilities. By utilizing a joint venture structure, AEI is
able to bring Logistec on as a partner that has both the expertise and
experience as a cargo handling solution provider in the Far North, and AEI can
focus on its mining and exploration activities. Both AEI and Logistec feel that
this is an immensely beneficial relationship going forward."


ON BEHALF OF THE BOARD 

John Gingerich, President & Chief Executive Officer

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a resource development
company focused on developing its Roche Bay and Tuktu Iron Ore Projects in one
of the world's largest developing iron ore districts, the Melville Peninsula in
Nunavut. The Ocean-based Roche Bay Project boasts an NI 43-101 compliant
resource estimate of over 500 million tonnes outlined within a small portion of
the potential 140 km of banded iron formation. A positive feasibility study for
the project's C Zone revealed a net present value of $642M on a base case 5.5
Mtpa start-up concentrate operation and substantial upside potential including
becoming a low quartile cost producer. To date, the Company has delineated over
1 billion tonnes of iron under NI 43-101 among its Roche Bay and Tuktu deposits
and continues to explore other targeted deposits in areas to the north, south
and west of Roche Bay. The management team has extensive technical, exploration
and Canadian Arctic mining expertise to effectively develop the high quality
iron ore opportunities on the Melville Peninsula. 


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 PLEASE CONTACT: 
Advanced Explorations Inc.
(416) 203-0057 x320

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