NEWS RELEASE

Date 08/13/2008 Time 06:30:19 AM

Advanced Explorations Engages Miller Mathis & Co.

TORONTO, Aug. 13 /CNW/ - Advanced Explorations Inc. (the "Company" or "AEI") is pleased to announce it has engaged Miller Mathis & Co. LLC ("Miller Mathis" or "the Advisor") for the purpose of assisting the Company in finding strategic and/or financial partners to further its Roche Bay Project in Nunavut, Canada. As the Company expects to release its preliminary economic assessment in the near future, it is looking for a partner with the capability, depth and experience that will enhance the development of the Company's Roche Bay Project.

John Gingerich, President and CEO of AEI, commented;

"Introducing a financial or strategic partner to our project is the next important step supporting our efforts to advance the Roche Bay Project to a development stage. We are pleased to be able to engage a reputable organization such as Miller Mathis in assisting us with this process."

Robert M. Miller, Senior Managing Director of Miller Mathis, said:

"We are delighted to assist the company in finding a strategic/financial partner to develop the Roche Bay project. We believe that the company and the project have a number of compelling attributes that will make it desirable to the investment and mining community."

The Company also wishes to announce that in furtherance to the press releases dated June 13, 2008 and July 17, 2008, the Company will not proceed with the Melville Capital Corporation debenture and equity financing. AEI is looking forward to the new opportunities that the Miller Mathis team can bring forward.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO

ABOUT Advanced Explorations Inc.

AEI, based in Toronto, Canada, is exclusively focused on developing high quality iron ore opportunities. In early 2007 the Company expanded its capabilities in iron ore exploration and development with the acquisition of strategic management personnel. AEI has the management, technical and exploration expertise and experience to rapidly advance the Roche Bay magnetite project, which was acquired in June 2007, as well as, to develop new opportunities in the area and globally. The Roche Bay magnetite project is located proximal to a natural harbour which makes it potentially one of the world's premier iron ore opportunities. Shares of the company trade on the TSX Venture Exchange under the symbol AXI. For more information please visit www.Advanced-Exploration.com.

ABOUT Miller Mathis & Co. LLC

Miller Mathis is an affiliate of Rodman & Renshaw, a U.S.-based broker dealer (NASDAQ: RODM). Miller Mathis is widely recognized as the No. 1 independent investment bank to the global steel, metals and mining sector. The company specializes in strategic advice and mergers and acquisitions, with particular experience in finding strategic or financial partners and buyers for development stage projects and companies. Robert M. Miller, the Senior Managing Director of Miller Mathis, is an internationally renowned expert in steel, metals and mining.

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED OR DISAPPROVED OF THE CONTENTS HEREIN.

This news release also includes forward-looking statements that involve a number of risks and uncertainties. The information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted here will be realized. Actual results may vary from those represented, and those variations may be material.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information: (416) 203-0057 x226/ (AXI.)

Work is proceeding on M0, the first Chorus® motor sized for the 737NG wheel. Several major funding negotiations are in advanced stages of negotiation.

We are acquiring the wafers for the next round of builds. With these wafers we anticipate building working prototype Power Chips™ that initially will be at least double the efficiency of the best thermoelectric device now available.

Our funding sources seem satisfied with the negotiated terms. We are working on getting one of these transactions closed.

For 7 August 2008 through 13 August 2008

Company
= Symbol = High === Low == Last = Change == Volume === Bid === Ask

Borealis Exploration Limited
. BOREF . $4.75 . $4.50 . $4.50 . - 0.25 . ..2,399 . $4.50 . $4.75

Chorus Motors plc
. CHOMF . $2.50 . $2.00 . $2.05 . - 0.85 . ..6,170 . $2.00 . $4.00

Cool Chips plc
. COLCF . $0.50 . $0.26 . $0.26 . - 0.24 . .18,791 . $0.11 . $0.49

Power Chips plc
. PWCHF . did not trade . $0.8553 . .... . ......0 . .-u-. . $2.00

Roche Bay plc
. RCHBF . $3.75 . $3.75 . $3.75 . . .n/c . ....150 . $3.75 .$10.00

Advanced Explorations Inc. (Joint Venture with Roche Bay)
TSX:AXI .C$0.85 .C$0.59 .C$0.660 - 0.230 ..154,150 .C$0.86 .C$0.89
FWB:AE6 .EU0.54 .EU0.36 .EU0.370 - 0.170 ..455,910
Xtr:AE6 . did not trade .EU0.970 . ..... ........0

Please note our shares are always very thinly traded which leads to large price swings on low volume. We will buy any Borealis Exploration Limited shares at the current last sale price. E-mail exec@borealis.com if you are interested. This is a net transaction with no commissions.

There is some trading in Frankfurt AE6 and in Toronto on AXI.

Approximate market value of BOREF,CHOMF,PWCHF,COLCF and RCHBF at last sale prices or bid whichever is higher on 13 August 2008:

US$67 million

The approximate value of all our companies, both public and private at last sale prices is approximately US$350 million.

The auction rate notes settlement is a shocker. To have the major houses buy back positions from customers at cost is awesome. There is US$300 billion of these instruments floating around. Over US$50 billion is being bought back so far. The big players are being left out in the cold, the little guys are being taken care of. I guess the regulators figured that the big boys knew what they were doing.

Again, world wide liquidity is getting killed. These auction rate notes settlements continue to damage the banks liquidity. That M1 effective has declined over 50%, and probably over 90% in the past 18 months is simply just devastating for the world. Remember trillions of dollars of instruments that were considered cash equivalent can now, on a good day, maybe muster 20 cents on the dollar and on a bad day 1 cent on the dollar.

The Fed has to keep up liquidity. The kinds of levels of M1 equivalents that were generated with the securitization of securities seem to be needed to support the huge current level of world wide trade and development.

The National Banks around the world are just going to have to buy trillions of dollars in these instruments, unless there is some other way to provide the liquidity needed for the level of development world wide.

I can see no other way to provide this liquidity to the markets. Have the Feds buy for 20 year 2% paper all the offered securities that are currently not in default. That will make all these instruments cash equivalents again. It is easy to figure out the present discounted values. There have to be some checks and balances on the Feds being scammed, but that should not be too difficult. The Feds will do quite well with these investments and the world can get back to building cities and countries where the populations all have a great chance at a reasonable life style given the fact that everybody works hard and pays attention.

We are in shock that the Russians have hired Cossack Mercenaries to rape and loot Gori. It looks like they have promised Tbilisi to these dregs of humanity. Putin is showing his colours. Let us hope the US stops this outrage.

The etrog tree has now apparently settled on 2 etrogs. Let us see if these can really get going. The tree continues to bloom. The tree has lost about 10 etrogs that were set but never developed.

Good Shabbos

rtc
iwc

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The discussion of the Company’s business and operations in this report includes in several instances forward-looking statements, which are based upon management’s good faith assumptions relating to the financial, market, operating and other relevant environments that will exist and affect the Company’s business and operations in the future.  No assurance can be made that the assumptions upon which management based its forward-looking statements will prove to be correct, or that the Company’s business and operations will not be affected in any substantial manner by other factors not currently foreseeable by management or beyond the Company’s control.

All forward-looking statements involve risks and uncertainty, including those described in this report, and such statements shall be deemed in the future to be modified in their entirety by the Company’s public pronouncements, including those contained in all future reports and other documents filed by the Company with the relevant Securities Commissions.

Wheeltug and Chorus are Registered Trade Marks of Borealis Technical Limited