Advanced Explorations Files Updated Resource Report on
Roche Bay Iron Project
TORONTO, ONTARIO--(Marketwire - May 25, 2011) - Advanced Explorations
Inc. (the "Company" or "AEI") is pleased to announce the
SEDAR filing of an updated National Instrument (NI) 43-101 compliant mineral
resource estimate for the C-Zone of its flagship Roche Bay iron project located
on the east coast of the Melville Peninsula in Nunavut, Canada (www.sedar.com).
As press released on April 6, 2011
the resource estimate now includes 323 million tonnes
in the Indicated category averaging 26.7% total iron (25.8%
magnetic iron) at a 20% iron cut-off grade and an additional 226
million tonnes averaging 25.8% total iron
(23.8% magnetic iron) at a 20% iron cut-off grade in the Inferred category.
In comparison to the previous resource estimate (as press released March 12,
2009), approximately 60% of the original Inferred resource
volume has been re-classified as Indicated. The Resource
Report is also available on the Company's website at www.advanced-exploration.com.
The updated mineral resource was
completed by Mr. Greg Greenough, P.Geo., a qualified person
for Golder Associates who has read and approved the
contents of this release.
C-Zone Roche Bay
Iron Project
April 6, 2011 Mineral Resource Estimate ? Indicated and Inferred Resource
|
Cut-off grade Fe (%)
|
Tonnes (Mt)
|
Total Fe %
|
Magnetics (FE3O4 %)*
|
SIO2 %
|
AL2O3
%
|
MnO %
|
P2O5
%
|
S %
|
LOI %
|
INDICATED
|
20
|
323.1
|
26.73
|
25.77
|
50.85
|
2.86
|
0.07
|
0.20
|
0.70
|
0.81
|
25
|
211.7
|
28.74
|
29.71
|
49.75
|
2.27
|
0.06
|
0.20
|
0.62
|
0.67
|
30
|
66.2
|
31.74
|
36.09
|
47.59
|
1.61
|
0.04
|
0.20
|
0.49
|
0.32
|
INFERRED
|
20
|
226.3
|
25.85
|
23.85
|
51.83
|
3.09
|
0.07
|
0.20
|
0.81
|
1.04
|
25
|
135.2
|
27.84
|
27.63
|
50.84
|
2.48
|
0.06
|
0.21
|
0.72
|
0.93
|
30
|
20.6
|
31.56
|
35.07
|
48.08
|
1.66
|
0.04
|
0.19
|
0.56
|
0.63
|
*Magnetics (Fe3O4 %) are
the Satmagan results corrected to reflect Davis Tube
test work.
ON BEHALF OF THE BOARD
John Gingerich, President & CEO
ABOUT Advanced Explorations Inc.
Advanced Explorations Inc., based in Toronto,
Ontario, is a resource development company focused on its Roche Bay Iron Ore
Project in Nunavut, one of the world's largest developing iron ore districts.
The Roche Bay Project is located proximal to a natural deep water harbour on the east coast of the Melville Peninsula in
Nunavut, Canada giving it many logistical advantages..
The project has an indicated resource of 323 million tonnes,
outlined within a small portion of the potential 140 km of banded iron
formation. This iron formation incorporates the Roche Bay deposits, the
Company's Tuktu deposits and other targeted deposits
in areas to the north, south and west of the Company's Roche Bay
Project. The preliminary economic assessment from the Roche Bay
deposit alone indicates a potential net present value of US $1.1 billion, and
the potential for rapid advancement into development of either iron concentrate
or high value iron nugget products. 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.
NEITHER
THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS
DEFINED WITHIN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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: (416) 203-0057 x226