Advanced Explorations Inc. Announces $5,000,000 Debenture

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2011) - Advanced Explorations Inc. (the "Company" or "AEI") announced today that it has entered into an agreement with XinXing Ductile Iron Pipes Co. Ltd. ("XinXing") involving a $5,000,000 convertible debenture (the "Debenture") to be provided as a non-brokered private placement financing (the "Financing").

John Gingerich, President & CEO, commented:

"This commitment by XDIP to AEI's Roche Bay Project demonstrates our partner's confidence in our Company and assets. Our 2010 Agreement, which was approved by our shareholders, allows XDIP to acquire a 19% interest in AEI, and this debenture represents the potential to increase XDIP's ownership in AEI from approximately 14% to 19%. The Company believes this no-interest Debenture and the commitment to a higher conversion price reflects the ongoing positive relationship between the two Companies."  

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