Eisennuggets starten durch.

   4. With the satisfactory completion of the initial phase, the Parties  have agreed to a target date of October 15, 2010 to complete the formal  agreement in respect to a strategic investment and cooperation.

The basis of the Agreement is a process by which XXP can acquire a  substantial direct or indirect interest in the project in exchange for  technical and financial support to ensure AEI's development of the  project. The contemplated agreement is subject to TSX Venture Exchange,  and other regulatory approvals which may also include shareholder  approval.

John Gingerich, President & CEO, commented:

"We are extremely pleased to have XXP involved in the project as we  believe them to be a partner with the financial strength and technical  expertise required to move the Roche Bay iron ore project towards  production. With the changes to the Agreement we have introduced the  possibility for more dynamic development scenarios allowing other  interested companies to work with XXP and AEI on the region's  development opportunities. There is now a mechanism that provides  additional investment opportunities without affecting XXP's desires to  be AEI's exclusive primary partner in the Roche Bay development and  becoming its largest shareholder".

The Roche Bay project represents a significant capital project, and  XXP's positive assessment and the decision to move forward confirm the  fundamental strengths of this project and the other opportunities in the  Melville area. In addition, it is believed that working together with  XXP will help AEI realize cost savings such as modular construction  (off-site construction, on-site assembly) of the mine's operational  facilities. XXP has requested AEI initiate the necessary permitting  approvals and negotiations that would allow the project to fully  leverage the modular design strategy.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

 

 

Meine Einschätzung:

 

XXP wird am 15/10 mitteilen, dass sie definitiv einsteigen zum Preis von 0.25CAD

Zu diesem Zeitpunkt wird aber der wahre Kurs deutlich höher stehen.

Noch 6 Wochen abwarten und zuschauen

 

 

"The F-Zone results verified our assessment that the strong regional magnetic trends are associated with the magnetite rich banded iron formations. The government airborne magnetic data indicate the banded iron formations extend for 150 km north and south of the Roche Bay property. The Tuktu and F-Zone discoveries suggest potential for higher iron grades than the C-Zone and also lower associated deleterious elements. This bodes well for additional future exploration success in the area.

The western iron ore discovery ("Siksik", from the Inuit word for "Squirrel") was made while following up on historical precious and base metal showings. The Company expects to release additional information on these other properties in the near future."

Gary Williams, P. Geo and VP of Advanced Explorations Inc. is the QP within the meaning of 43-101 and has reviewed and approved the content of this release. All samples were analyzed at Actlabs Ancaster facility.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

Just south of AEI's Tuktu iron deposit the company also staked a single claim, coined "JP", atop the historical "BIL" showing that was worked by Aquitaine Company of Canada Limited in the early 1970's for nickel and copper. In 1973, approximately 2000 feet of core was drilled but no results were released. In 2009, the Geological Survey of Canada (GSC) reported 0.58% Ni, 0.15% Cu confirming significant nickel and copper mineralization.

The company also located the 2009 GSC native silver-copper showing, which reported (1956 ppm Ag, 0.37% Cu). Prospecting permit 7811 acquired in December 2009 adequately covers this high priority silver target area and thus no additional staking was required.

These and other identified targets have excellent grades in the context of today's metal prices. In all cases the mineralization is well exposed on surface providing the potential to discover open pit resources. Each of these targets has clearly identified economic potential that could significantly add shareholder value.

John Gingerich, President & CEO, commented:

"Clearly, we have staked new ground that has potential for high grade results. The unique challenge AEI now faces is to effectively manage all the exploration opportunities without losing focus on our flagship iron ore project at Roche Bay. Therefore, we are discussing different restructuring scenarios with the core assets being managed through the strategic partnership with XinXing Pipes Group. Appropriate structures (joint venture, spin out via plan of arrangement, etc) from which to advance and pursue the other mineral opportunities without further dilution are currently being evaluated."

Gary Williams, P. Geo and VP of Advanced Explorations Inc. is the QP within the meaning of NI 43-101 and has reviewed and approved the content of this release.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO