Mr. Eric Guo reports

ADVANCED EXPLORATIONS INC. ANNOUNCES BOARD CHANGES AND DEBENTURE

Advanced Explorations Inc. has made changes to the composition of its board of directors. Dr. Bingguo Jia and Yanjun Zhang will be joining the board, and Robert Telewiak and Jim Excell 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. transaction. The proposed 80/20 joint venture structure, which was approved by AEI's shareholders at its July 4, 2014, annual general meeting of shareholders, reduces AEI's participation to a 20-per-cent 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 Mr. Excell and Mr. 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. The company wishes 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 debtholders. 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 two-year term with an option to convert into units at five cents per unit, with each unit consisting of one common share and a warrant exercisable to acquire one common share at 10 cents for a period of 24 months from the date of conversion. This financing is subject to TSX Venture Exchange approval.

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 joint venture. 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."

About Dr. Jia

Dr. Jia is a graduate from the mining department of Beijing Steel College (which changed its name to University of Science & Technology Beijing), the highest-ranked metallurgy university in China. Dr. Jia has 33 years of experience in early mine development, construction, operation and management. He is currently the president and CEO of Hebei Han-Xing Institute of Mining & Metallurgy Design Co. Ltd., a position he has held for the last 11 years. Both Dr. Jia and Han-Xing are shareholders of AEI. Among his other accomplishments, Dr. Jia has served as: mine manager with more than 3,000 employees, engineering budget commissioner and development planning secretary of a state-owned enterprise with more than 20,000 employees, chief engineer for design and construction of a seven-million-tonne-per-year iron sands mine located in the Philippines, project manager on a two-million-tonne-per-year EPC blast furnace, converter, sinter and steel rolling facility located in Xinjiang province, and provided a prefeasibility study on the Roche Bay iron ore project for XinXing Ductile Iron Pipe Co. Ltd.

About Mr. Zhang

Mr. Zhang is a Chinese certified financial analyst and registered securities practitioner. A graduate of Central University of Finance, he is currently vice-president of Tianjin Northern Petroleum Co. Ltd. He has in the past worked in the finance departments of a major state-owned steel company, and China Science & Technology International Trust Co. Ltd. He also worked for eight years in the Chinese and Hong Kong equities markets, including a period with Guangdong Securities in Beijing. While involved in the securities business, Mr. Zhang provided investment services for some of AEI's Chinese shareholders.

The board appointments are subject to regulatory review and approval.

We seek Safe Harbor.