Advanced Explorations Included in TSX Venture 50
TORONTO, ONTARIO -- (Marketwire) -- 02/16/11 -- Advanced Explorations Inc. (the 'Company' or 'AEI') (TSX VENTURE: AXI)(FRANKFURT: AE6) is pleased to announce it has been included within the TSX Venture 50, a ranking of strong performing companies listed on TSX Venture Exchange. The TSX Venture Exchange considered 2,154 listed companies and selected AEI within the top ten of its Mining Sector.
John Gingerich, President and CEO, commented:
'We are very excited about our top-ten ranking and celebrate this achievement with our shareholders. I believe this achievement reflects the hard work of our Team, which I am very proud to be a part of. We will continue to strive for and deliver to our shareholders the successes we have enjoyed over the last several months.'
The TSX Venture 50® are the top 10 companies listed on the TSX Venture Exchange, in each of five major industry sectors -mining, oil & gas, technology & life sciences, diversified industries and clean technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2010.
John McCoach, President, TSX Venture Exchange, commented,
'Our market provides a unique growth opportunity for early stage companies, and we are very pleased to celebrate the success of these issuers.'
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 its Roche Bay Iron Ore Project in Nunavut, one of the world's largest developing iron ore districts. The Roche Bay Project is located proximal to a natural deep water harbour on the coast of the Melville Peninsula in Nunavut, Canada giving it many logistical advantages. The project has an inferred resource of 357 million tones, outlined within a small portion of the potential 140 km of banded iron formation. This iron formation incorporates the Roche Bay deposits, the Company's Tuktu deposits and other targeted deposits in areas to the north, south and west of the Company's Roche Bay Project. The preliminary economic assessment from the Roche Bay deposit alone indicates a potential net present value of US $1.1 billion, and the potential for rapid advancement into development of either iron concentrate or high value iron nugget products. 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.
Contacts:
Advanced Explorations Inc.
(416) 203-0057 x226