Vancouver, British Columbia, Canada. Aldridge Minerals Inc. ("Aldridge") (Frankfurt WKN: A0CAPB, TSX.V: AGM) is pleased to announce that it has completed its private placement announced on June 27, 2006.
The placement consisted of 1,512,000 units at a price of $1.80 per unit for gross proceeds of $2,721,600. Each unit consists of one common share in the capital of Aldridge and one common share purchase warrant. Each warrant will be exercisable into an additional common share of Aldridge at a price of $2.00 for a period of two years. Aldridge paid a finder's fee of 100,800 units. The securities issued under the private placement are subject to a four month hold period expiring on January 1, 2007.
The proceeds of the private placement will be used to continue funding exploration, acquisition and drill programs on Aldridge's mineral properties in Turkey and for general working capital purposes.
Aldridge is active in the exploration and development of gold and base metal projects in Turkey.
On behalf of the Board of Directors
Hikmet Akin, President and a director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information please contact:
Aldridge Minerals Inc.
Tel. +1 (306) 955-4741
Suite 204, 3540 West 41st Avenue
Vancouver, BC, V6N 3E6, Canada
Advice Portfolio Management GmbH
Hartmut Thome, Investor Relations
Tel. +49 (6227) 8395-0
Fax +49 (6227) 8395-70