Advanced Explorations Inc announced the closing of the USD 5,308,349 private placement in accordance with the Framework Agreement as press released on September 27th 2010. AEI has issued 21,233,396 common shares at the price of USD 0.25 per share in the Company's capital stock to Xinxing Huaxin Co Limited a holding company jointly owned by XinXing Ductile Iron Pipes Co Ltd and China Huaxin International Trade Co Ltd.

As a result of the financing, Xinxing-Huaxin will have control over 15.31% of the issued and outstanding shares of the Company. Xinxin-Huaxin will file an Early Warning Report with Canadian Securities Commissions in respect of the acquisition.

The shares issued in connection with this private placement are subject to a hold period expiring April 10th 2011. In addition, the Company has paid USD 212,333.96 in respect to finder's fees.

Mr John Gingerich president and CEO said that "We are extremely pleased with this closing and we can now move aggressively forward with our plans at Roche Bay as well as leveraging our relationship into new growth opportunities. At the request of our partner, the Company is working on a fast track program aimed at moving towards production as soon as possible. While our primary focus is the completion of the feasibility study and permitting process, we are continuing to evaluate the potential of Tuktu and other local prospects. With the financial and technical strength of our Partner, AEI is well positioned for future growth.”