AXI

Advanced Explorations Inc. (the "Company" or "AEI") (TSX
VENTURE:AXI)(FRANKFURT:AE6) announced today that it has entered into an
amendment agreement (the "Amendment Agreement") with Roche Bay plc and Roche Bay
East Limited (collectively "Roche Bay") pursuant to which the Parties have
agreed to amend the terms of the royalty agreement dated for reference March
23rd, 2009 and entered into on March 31st, 2009 (the "Royalty Agreement"). This
Amendment Agreement is intended by the Parties to extend the payment terms for
the Mandatory Minimum Payment (as defined in the Royalty Agreement), and to
grant AEI an additional option to buy out a portion of the royalty, as further
set out below.


Amendment to Mandatory Minimum Payment

The Parties agree to amend the payment terms of the 2013 Mandatory Minimum
Payment currently due and owing to Roche Bay, as follows:




--  An initial installment of $50,000 payable on or before December 31st,
    2013; 
--  The amount of $100,000 payable on or before January 31st, 2014; and 
--  The amounts of $50,000 on each of March 15, 2014, June 15, 2014, and
    September 15, 2014 



In addition to the cash consideration, AEI shall issue 5,500,000 common shares
within 5 business days of execution of the Amendment Agreement, and shall
further issue common shares to Roche Bay on September 15th, 2014, such shares
are to be deemed to have a total monetary value of $300,000 at a price per share
equal to the volume weighted average price on the 30-day period prior to
issuance.


All securities issuances contemplated herein shall be subject to any statutory
or regulatory requirements with respect to hold period, including compliance
with all rules and policies of the TSX Venture Exchange (the "Exchange") and
subject to ultimate approval by the Exchange. For the avoidance doubt, the
Mandatory Minimum Payments due to Roche Bay on December 15 of each year
subsequent shall remain unchanged by the Amendment Agreement. 


Royalty Reduction

Pursuant to the Amendment Agreement, Roche Bay has granted AEI the option until
December 15th, 2020 to exercise a royalty purchase to reduce the royalty rates
set out in the Royalty Agreement to as low as 2%, other than relating to the
Precious Metals Royalty Interest.


ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

Advanced Explorations Inc., based in Toronto, Ontario, is a resource development
company focused on developing its Roche Bay and Tuktu Iron Ore Projects in one
of the world's largest developing iron ore districts, the Melville Peninsula in
Nunavut. The Ocean-based Roche Bay Project boasts an NI 43-101 compliant
resource estimate of over 500 million tonnes outlined within a small portion of
the potential 140 km of banded iron formation. A positive feasibility study for
the project's C Zone revealed a net present value of $642M on a base case 5.5
Mtpa start-up concentrate operation and substantial upside potential including
becoming a low quartile cost producer. To date, the Company has delineated over
1 billion tonnes of iron under NI 43-101 among its Roche Bay and Tuktu deposits
and continues to explore other targeted deposits in areas to the north, south
and west of Roche Bay. The management team has extensive technical, exploration
and Canadian Arctic mining expertise to effectively develop the high quality
iron ore opportunities on the Melville Peninsula. 


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 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.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED WITHIN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Advanced Explorations Inc.
Brendan Purdy
416-203-0057 (ext 320)

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