A 10% chance to craft an additional rune for each essence used when visiting an elemental altar. For each extra rune crafted, the base experience per essence for that rune type is awarded again. (ex: an inventory of 28 rune essence on average yields 2.8 extra rune essences worth of runes and experience). This makes it an excellent tool for runecrafting.
Three charges of run energy recharges (50 percent each) per day
The ability to teleport to the cabbage patch south of Falador
A 50% chance of not using runes when casting the Bones to Bananas spell, up to a maximum of 10 times per day (This can be attempted without runes or the ring in your inventory) ( 250 magic XP)
Doing all 30 low alchemy, 15 high alchemy and 27 super heat gives 3,336 Magic exp per day. ( 3586 XP if also attempting Bones to Bananas 10 times without runes in your inventory. With a full inventory of 28 bones, a there is a profit of 1148 coins per spell. If doing it only for Magic exp, add only one bone to inventory at a time as it turns ALL bones in inventory into bananas for only 25 exp per spell regardless of number of bones.)
Since it is possible to perform alchemy on noted items, withdrawing sufficient noted items means you can fully high and low alchemise without restocking from your bank. A good candidate for low-alching is the maple shieldbow (u), which gives 128 coins and costs 94 coins. For high alchemy the usual candidates can be considered, the ring will perform 276 coins better than the standard staff-and-nats set up.
Equally, superheating Iron ore into Iron bars can be fully completed without restocking your inventory for a profit of 2727 coins and 337.5 Smithing XP per day; with gold ore into gold bars there is a loss of -8235 coins, but 1517.4 Smithing XP if wearing Goldsmith gauntlets.
On the day of release a bug prevented the alchemy options to be cast twice at a fast pace. If a player were to use either of the ring's alchemy, they would have to wait until the casting animation was completely over before casting it again, otherwise they would be able to reactivate the spell but unable to actually choose an item to cast it on. This has been fixed.
Effective as of the 2 November2010update, the low alchemy, high alchemy and superheat interfaces have been reworked to make them much more user friendly.
The Explorer's ring 3 and 4 are used very often due to an unlimited teleport fairly close to a bank, deposit box, water source, milk seller, yew trees, Chickens and fireplace, as well as going directly into a cabbage patch which can be used for lots of free food.
When crafting any elemental runes, while not wearing the ring, the game will display the message: "If you were wearing your explorer's ring you may have earned more runes."
There is no extra Run Replenish from the Explorer's Ring 4, three charges same as explorer's ring 3.
The Explorer's ring is not allowed on Entrana because the monks say its magic is too powerful.
The Explorer's Ring 4 can be used in the Alchemists Playground. It is unknown whether or not this is a bug.