Form 51-102F3 Material Change Report

1. Name and Address of Company

Advanced Explorations Inc. 50 Richmond Street East, Suite 300 Toronto, Ontario M5C 1N7

Telephone: (416) 203-0057

2. Date of Material Change

February 25, 2008

3. News Release

February 25, 2008

4. Summary of Material Change

Provide a brief but accurate summary of the nature and substance of the material change.

Please see the attached news release.

5.1 Full Description of Material Change

Please see the attached news release.

5.2 Disclosure for Restructuring Transactions

Not Applicable

6. Reliance on subsection 7.1(2) or (3) of National Instrument 51-102

Not applicable.

7. Omitted Information

Not applicable.

8. Executive Officer

Gary Williams, Director, who may be contacted at the address and phone number listed in Item 1 above.

9. Date of Report

February 25, 2008

NEWS RELEASE

FOR IMMEDIATE RELEASE: February 25, 2008

Advanced Explorations Inc. Announces New Board Member

Toronto, ON. – Advanced Explorations Inc. (the “Company” or “AEI”) is pleased to announce the appointment of Mr. Bernie Swarbrick to the Board of Directors. Mr. Swarbrick brings to the Company’s Board substantial expertise and experience in the areas of Environment, mine permitting and Aboriginal consultation which are all critical elements to helping the Company move forward on its Roche Bay, Nunavut iron ore project.

John Gingerich, President and CEO of AEI, commented;

“We are very pleased that AEI has been able to attract a person of Mr. Swarbrick’s calibre to our Board. His expertise and experience will certainly provide valuable guidance to our management team as we move forward on the Roche Bay project. The building of the corporate team (management/Board) is a continuing process and the Company expects to be able to make additional such announcements in the near future.”

Mr. Bernie Swarbrick has over 18 years of mining sector experience relating to the field of environmental / health and safety management, both within Canada and internationally. The breadth of experience in this field extends to both open pit and underground mines, mills, smelter / refineries, industrial sites, and exploration projects. Positions held include senior management roles in both operating and project environments. Mr. Swarbrick’s responsibilities have included the implementation of environmental assessments / baselines, facility permitting, environmental / health and safety management systems (including ISO 14001), environmental compliance plans, health and safety compliance plans, EHS auditing, environmental design, risk management, design and the setting of health, safety and environmental targets / key performance indicators. He has been directly involved with public, government, and Aboriginal stakeholders to provide consultation, facilitated communications, and the development of EHS solutions to complex technical issues. He has fulfilled a variety of roles in a number of jurisdictions including Ontario, the Nunavik region of Quebec, Australia, the French Overseas Territory of New Caledonia, Madagascar, and South America (Chile).

The Company is also preparing to issue a total of 1,145,000 options to directors, consultants and management, at a price of $1.65. Options are granted as of February 24, 2008 vesting immediately, and are good for a period of 5 years.

ON BEHALF OF THE BOARD

John Gingerich, President & CEO Tel: 1-416-570-3250

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 the Roche Bay iron ore project and 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 develop new opportunities in the area and globally. The Roche Bay magnetite project located proximal to a natural harbour 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.

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.