30 December 2013
TORONTO, ONTARIO--(Marketwire - Dec. 17, 2012) - Advanced Explorations Inc. (the "Company" or "AEI") today announced that it has completed a summary report on its Tuktu 2 Iron Project (the "Report") located 60 km north of its flagship Roche Bay Iron Project. The Report, which was compiled in consultation with APEX Geoscience Ltd., has now been submitted to XinXing Pipes Group Co. Ltd. ("XDIP") for comment and review pursuant to the recently signed Tuktu Framework Agreement between AEI and XDIP (the "Framework Agreement") (see press release August 21, 2012). In line with AEI's obligations under the Framework Agreement, the Report summarizes this year's exploration, mapping and drilling program completed for the purpose of evaluating the direct-ship ore ("DSO") potential of the high grade banded iron formation in this area. This Report is a necessary step in the future funding of the Tuktu 2 Project by XDIP under the Framework Agreement.