AXI

Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)
(FRANKFURT:AE6) announced today that the private placement previously announced
on September 27, 2013 has been over-subscribed. The Company now proposes to
issue up to 5,000,000 units ("Units") at a price of $0.05 per Unit for gross
proceeds up to $250,000 (the "Offering"). Each Unit is comprised of one common
share of the Company and one common share purchase warrant ("Warrant"), with
each Warrant being exercisable to acquire one common share of the Company at a
price of $0.10 for a period of 24 months following the closing date of the
Offering. 


The securities issued under the private placement will be subject to a
four-month hold period from the date of closing. The closing of the private
placement is subject to, among other things, acceptance from the TSX Venture
Exchange.


As AEI anticipates that insiders of the Company will subscribe for greater than
25% of the private placement, the issuance of shares to insiders pursuant to the
private placement is considered to be a related party transaction subject to TSX
Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101").
The Company intends to rely on exemptions from the valuation and minority
shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and
5.7(a) of MI 61-101 in respect to insider participation. No commission or
finder's fee will be paid in connection with the private placement. 


ON BEHALF OF THE BOARD

Bernie Swarbrick, Acting President 

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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Advanced Explorations Inc.
Brendan Purdy
416-203-0057 (ext 320)

(TSXV:AXI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

(TSXV:AXI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024