Advanced Explorations Inc. that the company's independent geological consultants, APEX Geoscience Ltd. has completed a comprehensive review of the company's iron projects located on the Melville Peninsula, Nunavut. The key conclusion of the work completed by APEX is that there exists a significant potential for the identification of a Direct Ship Ore-type (DSO-type) iron deposit at the Tuktu Project area, along with a similar potential at the Roche Bay Project area based on geological (structural) similarities. APEX has concluded that the high grade (>63% Fe) structurally controlled massive iron mineralization located in the Tuktu 2 area has similar characteristics to the large high grade DSO deposits at the Mary River Project located on Baffin Island (Baffinland Iron Mines).

High grade hematite occurs within an intensely altered structural deformation zone that intersects magnetite-bearing banded iron formations (BIFs) in the area. A presentation by Baffinland Iron Mines at an Iron Ore short course hosted by the University of Western Ontario in March of this year described how metamorphism (deformation and hydrothermal alteration) has been identified as the key to the upgrading of normal banded iron formation to high grade DSO-type material at the Mary River Project.