Advanced Explorations Inc. has completed an exploration program to further evaluate the direct ship ore ("DSO") potential within the area of the Tuktu 2 magnetic anomaly, approximately 5km east of AEI's Tuktu 1 Magnetite Iron Deposit (Inferred Resource - 465MT @ 31.1% Total Iron). The exploration program, which commenced late August and was completed this week, was comprised of detailed surface geological mapping and prospecting, closely spaced infill ground magnetometer and gravity geophysical surveying and completion of 1,536m of diamond drilling in 11 drill holes. Utilizing a field-portable XRF analyzer, geologists were successful early in the current program to locate a second DSO target area, Tuktu 2-H, of apparent high grade hematite mineralization within a discontinuously outcropping 3km long zone of both magnetite and hematite iron mineralization.

This is located approximately 1,800m southeast of the Tuktu 2-A Anomaly in a north-south trending linear magnetic feature, parallel to and about 400m east of the Tuktu 2-A magnetic anomaly. Based on visual geological and field-portable XRF analyzer results, field geologists concluded that the Tuktu 2-H Anomaly had the potential for multiple lenses of high grade iron mineralization of the style referred to as "Direct Ship Ore" ("DSO"). The drill program was focused on the two identified anomalous areas, with 4 drill holes completed at the Tuktu 2-A anomaly and 7 drill holes completed at the Tuktu 2-H; assay results are also pending.