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UPDATE: Advanced Explorations At Day Lows Even with Discovery of Mineralization at West Melville Peninsula

Advanced Explorations Inc. (AXI.V) opened at 31 cents but is trading nearly 2% lower at day low $0.305, despite announcing earlier today that the results of its 2011 exploration program on the western portion of the Melville Peninsula, Nunavut, include the important discovery of new nickel-copper-cobalt and copper-silver-gold mineralization.

John Gingerich, President and CEO, said "The prospect of discovering high grade Ni-Cu and Cu-Ag-Au systems provides the opportunity to create additional shareholder value through possible partnerships and/or spin-offs while AEI remains focused on the development of its core iron ore assets."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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