Advanced Explorations Inc. Announces Board Changes and Debenture

TORONTO, ONTARIO--(Marketwired - Nov. 5, 2014) - Advanced Explorations Inc. (the "Company" or "AEI") (TSX VENTURE:AXI)(FRANKFURT:AE6) is pleased to announce changes to the composition of its Board of Directors. Dr. Bingguo Jia and Mr. Yanjun Zhang will be joining the Board and Mr. Robert Telewiak and Mr. Jim Excel will be stepping down. The restructuring of AEI's Board is in part a response to the anticipated increased Chinese participation in AEI's iron ore projects through the proposed Parkson Star Ltd. (HK) ("Parkson") transaction. The proposed 80:20 Joint Venture ("JV") structure, which was approved by AEI's shareholders at its July 4^th, 2014 annual general meeting of shareholders, reduces AEI's participation to a 20% carried interest. Having a stronger shareholder presence on the Board is also expected to improve the liaison between AEI, its strategic stakeholders and its proposed joint venture partner.

The Company wishes to thank Jim Excell and Robert Telewiak for their service to AEI. Both brought significant expertise and experience to AEI. Their contributions allowed the Company to move the Roche Bay project from the exploration stage to feasibility. We wish them well in their future endeavours.

The Company continues to experience delays in the closing of the Joint Venture transaction as it has yet to obtain the required consensus from its major debt holders. The delays in concluding the restructuring process necessitate the Company to seek bridge financing. Accordingly, the Company wishes to announce a $108,000 Convertible Debenture which it plans to secure from some of its strategic shareholders. The interest free debenture will have a 2 year term with an option to convert into units at $0.05 per unit with each unit consisting of one common share and a warrant exercisable to acquire one common share at $0.10 for a period of 24 months from the date of conversion. This financing is subject to TSX approval.

Mr. Eric Guo, Chief Executive Officer, stated;

"We are very pleased to have our strategic shareholders step up and support AEI both through enhanced participation at the Board level and in providing financial support to bridge the Company while it attempts to conclude the proposed JV. These are very difficult financial markets for junior mining companies and we are fortunate to have this support. The Company hopes to be able to strengthen its team and secure its future through the conclusion of the new joint venture partnership."