Advanced Explorations Inc announced that it has concluded a memorandum of understanding with China based Xinxing Pipes Group Co Ltd. The Parties have agreed to general terms and conditions of a proposed strategic partnership and investment that will allow XXP to acquire a significant interest in AEI and/or the Roche Bay and Tuktu projects.

Subject to TSX Venture approval, the MOU sets out an option for XXP to initially acquire 19% of the Company's issued and outstanding common shares by way of private placement at a price equal to or greater than USD 0.25 per share. The initial acquisition would also include a seat on the AEI Board of Directors. XXP is expected to complete its due diligence by August 30th 2010 and work together with AEI to conclude the terms for its strategic investment.

In addition to the strategic investment, XXP and AEI will jointly determine project development plans that are to be financed through the XXP partnership.

Mr John Gingerich President & CEO of Advanced Explorations Inc said "The Xinxing Pipes Group is one of the world's largest producers of steel pipes with expertise across the full spectrum of the iron ore and steel industries. AEI is very pleased that a company with both the financial strength and technical expertise such as XXP has expressed its strong interest in cooperating with AEI. The Companies are jointly assessing the various startup and development scenarios as part of the due diligence process. The Definitive Feasibility Study will be the responsibility of XXP with a likely primary focus being a startup concentrate operation which will substantially reduce initial capital requirements for the project. The deal is also expected to include an off-take agreement with XXP."

XXP is a State Owned Enterprise located in China, and as a partner in the Roche Bay project would remain focused on taking the project to development. AEI will also begin to assess other growth opportunities to enhance shareholder value and accelerate assessment on non core precious metal and other mineral assets.

AEI further announces that, pursuant to the Company Stock Option Plan approved at the June 16th 2010 Annual General Meeting and subject to TSX Venture Exchange approval, it intends to issue a total of 775,000 options to directors and consultants at a price of USD 0.17 per common share exercisable in whole or in part on or before five years from the date hereof.