Advanced Explorations Inc. announced positive results of its feasibility study conducted on the C Zone of its Roche Bay Iron Project. The feasibility study has been completed by TetraTech Wardrop and confirms that the project has a Net Present Value of $642 million (pre-tax). Highlights of the Roche Bay Iron Project feasibility study: 5.5 million tonnes per year start-up production based upon 501 million tonnes at the rate of 26.35% Fe (indicated); High quality, low impurity, 66% Fe concentrate production with demonstrated potential to produce 68% + concentrate; Mine life of 15 years (C Zone); Low mine stripping ratio of 0.92:1 over life of mine (LOM) reducing overall mine costs and mine footprint per tonne of ore; Pre-Tax Net Present Value (NPV) of $642 million at a discount rate of 8% and a concentrate selling price of $104/tonne of iron concentrate (FOB Roche Bay); Start-up mine cash flow (net) of $2.9 billion; Pre-tax internal rate of return (IRR) of 16%; Capital cost (CAPEX) of $1.2 billion (excluding contingency); Operating cost of $49.13/tonne of iron concentrate (averaged over the life of mine); Reduced infrastructure costs due to the proximity (6 kms) of ore body to natural, deep water harbour (no rail, extended power lines, or slurry pipelines and no dependency on third parties to provide these services).