Vancouver, British Columbia, Canada. Aldridge Minerals Inc. (Frankfurt WKN: A0CAPB, TSX.V: AGM) ("Aldridge") is pleased to announce that a 6,710 m reverse circulation hammer (RC) drill program was successfully completed at its Yenipazar base and precious metals project in Central Turkey. RC has the advantage of drilling 2-3 times faster than diamond (core) drilling, at about half to one third of the drill-related cost.
A total of 60 holes were drilled during 2006 and January 2007. Fifty four (54) vertical drill holes were completed on a 40m x 40m grid in the VMS (volcanogenic massive sulphide) deposit at Yenipazar to upgrade the resource category within an open pit shell and to increase the total resource with step-out drill holes where the mineralization is open to the north and south. Three new targets, geophysically identified (IP) within 0.5-15 km from the Yenipazar deposit, were drill-tested with 2 holes on each target.
A site visit was carried out by P & E Mining Consultants Inc. of Brampton, Ontario during January 28-30, 2007, which will be followed up by an updated technical report on the resource at Yenipazar in February or March 2007. The earlier P & E resource technical report can be downloaded from http://www.aldridgeminerals.com/. Data regarding access, infrastructure, local operating costs, gravitational pre-enrichment, and flotation are currently collected for a Preliminary Economic Assessment by P & E, scheduled for fall 2007 completion.
Assay results are partly pending, but results received to date from ALS Chemex (Vancouver) indicate that the deposit extends beyond the step-out holes drilled in the south. The two southern most holes drilled so far yielded the following results:
YP-81: 116-150 m – 2.01 g/t Au, 58.7 g/t Ag, 0.47 % Cu, 2.62 % Pb, 2.67 % Zn
YP-80: 56-60 m – 0.83 g/t Au, 38.9 g/t Ag, 0.49 % Cu, 1.29 % Pb, 1.15 % Zn
102-108 m – 1.02 g/t Au, 50.3 g/t Ag, 0.21 % Cu, 2.59 % Pb, 4.28 % Zn
112-122 m – 0.73 g/t Au, 55.6 g/t Ag, 0.18 % Cu, 1.49 % Pb, 2.13 % Zn
These reported intervals contain a maximum of 2 meters of internal waste. Hole YP-80 had to be abandoned in mineralization at 122 m for technical reasons and was re-drilled to below the visual end of mineralization at 135 m. Results are pending.
Visual inspection of RC-material suggests that also the northern most holes did not close the orebody in that direction. Aldridge has already commissioned a new RC-drill round, to be started in mid-February, aimed at closing the deposit to the north and south. In the same campaign, diamond drill holes shall be drilled on selected sites to duplicate the results of previously drilled RC-holes.
To the south, the Yenipzar deposit becomes richer but also deeper. To avoid future problems with RC-drilling at more than 100m depth in this area, holes are scheduled to be initiated with RC and finalized in the mineralized zone with diamond drilling.
Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as such term is defined in NI 43-101, has reviewed and verified the technical content of this release.
Aldridge is active in the exploration and development of gold and base metal projects in Turkey.
For further information, please contact:
Aldridge Minerals Inc.
Tel. +1 (604) 737 2743
15th Floor - 1040 West Georgia Street
Vancouver, BC V6E 4H8, Canada
Advice Portfolio Management GmbH
Hartmut Thome, Investor Relations
Tel. +49 (6227) 8395-0
Fax +49 (6227) 8395-70