TORONTO, July 17 /CNW/ - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce that subject to TSX Venture Exchange approval it intends to raise up to:

(i)    $5,250,000 through a non-brokered offering of 3,500,000 flow-
       through common shares (each a "FT Share") at $1.50 per FT Share;
       and

(ii)   $6,750,000 through a non-brokered offering of 5,000,000 non flow-
       through units (each an "NFT Unit") at $1.35 per NFT Unit. Each
       Unit shall consist of 1 common share and one-half (1/2) of 1 non-
       transferable common share purchase warrant to purchase a common
       share. Each whole warrant shall entitle the holder to purchase one
       common share at a price of $2.00 per Warrant Share at any time
       prior to the date two years from the closing date.

The Company will adjust the flow-through and non flow-through portions of the financing to meet the target financing objective of a total $7,500,000 financing.

AEI will use the proceeds of the offering for the further development of the Nunavut Roche Bay Magnetite Project and unallocated working capital. The Company may pay up to the maximum allowable finder's fee on the transaction in cash, shares, warrants or a combination of both.

The foregoing private placements replace all previously announced offerings.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project, which was acquired in June 2007, as well as, to develop new opportunities in the area and globally. The Roche Bay magnetite project is located proximal to a natural harbour which makes it potentially one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI. For more information please visit www.Advanced-Exploration.com.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE

CONTENTS HEREIN.

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 of 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.