OK why we rallying today?
Advanced Explorations' Corporate Update
2:00 AM ET 4/23/10 | Marketwire
Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE: AXI)(FRANKFURT: AE6) is pleased to announce that it plans to commence its summer field program in late May. The primary focus of the program will be to advance the Roche Bay project. Work is also planned for the Tuktu Deposit but the scope and scale will be finalized once the final metallurgical report is received.
The recent rebound in iron prices has resulted in substantial increase in activity within the iron ore market. This activity has positively impacted ongoing strategic partner negotiations. AEI is in discussion with a number of groups, but the Company wishes to clarify that no decision has been made.
John Gingerich, President & CEO of AEI, commented:
"The Company has seen significant increase in interest in its Roche Bay and Tuktu projects. With the baseline environmental study completed, we expect by next year to have completed the Feasibility study and be well into the permitting process. Thus AEI is well positioned to move into development within the current metal cycle."
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 developing high quality iron ore opportunities. With the option to earn a 100% interest in the Roche Bay Magnetite Project located on the Melville Peninsula in Nunavut, Canada, AEI plans to produce high quality granulated pig iron (nuggets) from the 357 million tonnes inferred resource of the project's C-Zone. Led by an experienced management team with technical, exploration and mining expertise the company has the capabilities to rapidly advance the Roche Bay Project and explore other local and global opportunities. Shares of the company trade at the TSX Venture Exchange (AXI) and at the Frankfurt Stock Exchange (AE6). For more information please visit www.advanced-exploration.com.
