to Exhibit at PDAC 2012 in Toronto Canada
to Exhibit at PDAC 2012 in Toronto Canada
Toronto, Feb 29, 2012 AEST (ABN Newswire) - Advanced Explorations Inc. (CVE:AXI) is pleased to provide an update on the development of its iron ore assets in Nunavut. As per AEI's Framework Agreement with XinXing Pipes Group ("XXP") the Company is in the process of restructuring its holdings to facilitate the assignment of its interests in the East Melville iron ore assets into a new enterprise controlled by AEI. The details of the enterprise structure will be announced once a preferred structure is approved by the Board of Directors of the AEI.

The Company's new business structure will also address the potential for shared facilities at Roche Bay, that integrates both the recent developments at the Tuktu Iron Project (located 60 km to the north) and its Copper-Nickel properties (located 80-100 km to the west of Roche Bay).

John Gingerich, President & CEO, commented:
"We are very pleased with the progress on all our Nunavut properties. Not only do we have our flagship Roche Bay Project moving towards production, both Tuktu and our Ni-Cu projects have potential to be standalone company makers. The Company's restructuring plans will lay the foundation for maximizing shareholder value in anticipation of this year's developments."

The Company would also like to report that its strategic partner, XinXing Ductile Iron Pipes Co. Ltd. ("XDIP") a subsidiary of XXP, has advised that it has received all the necessary government and regulatory approvals to complete the previously announced $5,000,000 convertible debenture financing.

Advanced Explorations will be exhibiting at the PDAC 2012 International Convention, Trade Show & Investors Exchange - Mining Investment Show from March 4-7 at booth 3342, Metro Toronto Convention Centre and also present at the Canada-China Investment Forum on March 8th at the Intercontinental Hotel Toronto.

About Advanced Explorations Inc.

Advanced Explorations Inc. is in the development stage, and is engaged in the acquisition, exploration and development of properties within the resource sector.

 



About PDAC

PDACThe Prospectors & Developers Association of Canada (PDAC)  is the leading voice of the mineral exploration and development community. With over 7,500 members around the world in all sectors of the mining industry PDAC's mission is to promote a globally-responsible, vibrant and sustainable minerals industry. As the trusted representative of the sector, PDAC encourages best practices in technical, operational, environmental, safety and social performance.

     


Contact

For further information:
Advanced Explorations Inc.
TEL: +1-416-203-0057 x226


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