Advanced Explorations Signs MOU with Logistec Stevedoring Inc.

Marketwire

Advanced Explorations Inc.

February 18, 2013 - 09:50:24 PM

Advanced Explorations Signs MOU with Logistec Stevedoring Inc.

TORONTO, ONTARIO--(Marketwire - Feb. 18, 2013) - Advanced Explorations Inc.
(TSX VENTURE:AXI)(FRANKFURT:AE6) (the "Company" or "AEI") today announced that
it has signed a Memorandum of Understanding (MOU) with Logistec Stevedoring
Inc. ("Logistec") for the further development of AEI's shipping concept,
terminal, and marine services. Logistec and AEI will work jointly on the
development and operation of the terminal facility with its related
infrastructure servicing the Roche Bay Project.

Logistec provides over 6 decades of stevedoring and terminal operations at its
facilities located in 24 ports in North America. In addition to several other
successful projects, Logistec provided marine and shipping support to
Baffinland Iron Mines Corporation during the bulk sampling program in 2008.
The direct Arctic experience and proven operational expertise in the region
make Logistec the partner of choice for AEI as it relates to formulating a
proper solution for the Roche Bay port facility and putting in place cost
efficient operations.

The MOU also provides that AEI and Logistec will join efforts to explore
financial models and structures with respect to the Roche Bay port facility as
well as the shipping and terminal assets with a view that such financial
models and structures could be self financing, thereby lowering the capital
expenditures necessary to get the Roche Bay Project into production. This
agreement with Logistec strengthens the Roche Bay development team with
respect to a key component and will materially de-risk the Project, leveraging
Logistec's expertise in Nunavut, combined with a current and relevant
operational understanding of shipping in the region.

The Roche Bay port and shipping concept is an essential key parameter for the
success of the Roche Bay Project. Accordingly, Logistec provides the
experience and efficiency needed to create a sustainable and scalable port
facility to service future potential development at Roche Bay, Tuktu, and
other developments on the Melville Peninsula. Going forward, this port is
going to be an important strategic asset for AEI, Logistec, and the Government
of Nunavut.

The unique coastal location of the Roche Bay project eliminates the need for
transportation infrastructure such as railroads. This substantial location
advantage at Roche Bay has recently been further highlighted by the railroad
uncertainty that has affected the potential iron ore developments located in
the Labrador Trough. Rail is a key infrastructure bottleneck and places
considerable risk and uncertainty as to when and if these rail-dependant
projects can move forward. AEI's advancement of its port infrastructure and
lack of onerous rail requirements puts AEI in a positive light relative to
these other projects.

John Gingerich, President & CEO, commented:

"As we have seen recently, there is a renewed sensitivity in the market to
project CAPEX and execution. In response to this, AEI has engaged Logistec to
determine the most efficient way to reduce CAPEX and project risk as it
relates to the Roche Bay port facilities. By utilizing a joint venture
structure, AEI is able to bring Logistec on as a partner that has both the
expertise and experience as a cargo handling solution provider in the Far
North, and AEI can focus on its mining and exploration activities. Both AEI
and Logistec feel that this is an immensely beneficial relationship going
forward."

ON BEHALF OF THE BOARD

John Gingerich, President & Chief Executive Officer

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.

FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Explorations Inc.
(416) 203-0057 x320

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.