Vancouver, Canada – Aldridge Minerals Inc. (“Aldridge”) (TSX-V: AGM, Frankfurt: A0CAPB) announced today that its resource definition drill program at Yenipazar is proceeding on schedule after its suspension during severe winter conditions in Turkey. The latest results from drilling during late February and March are reported below. The holes were RC-drilled on an 80 x 40 m grid to define the resources within the known 1,700 m strike length of the deposit, in the framework of a Preliminary Economic Assessment. Assaying was performed at ALSChemex (Vancouver).
To date, Aldridge has completed 36,856 m RC in 270 holes. In April, 4398 m was completed in 35 holes for which assays are still pending.
Hole Interval (m) Thick Type Au ppm Ag ppm Cu % Pb % Zn %
No. from to (m)
YP-227 14 26 12 Oxide 0.94 152.67 0.33 1.82 0.16
YP-228 32 42 10 Ox/sulph 5.80 12.38 0.32 1.41 0.42
YP-228 46 50 4 Sulphide 0.42 9.95 0.10 0.44 0.82
YP-232 24 32 8 Oxide 0.42 8.78 0.41 0.72 0.10
YP-232 50 56 6 Sulphide 0.01 1.57 0.66 0.13 0.10
YP-235 102 104 2 Sulphide 0.23 20.35 0.07 0.65 1.01
YP-235 110 116 6 Sulphide 1.15 41.93 0.47 0.17 0.34
Complete results are available on www.aldridgeminerals.com
Aldridge President & Director, Hikmet Akin, said, “We are currently using two RC-rigs at Yenipazar to bring the entire resource within the known 1,700 m deposit strike length to the indicated and inferred levels by the end of the Spring season. This will form the basis for an updated independent resource statement to be followed by a Preliminary Economic Assessment”.
The Yenipazar project is subject to an earn-in agreement with Anatolia Minerals, wherein Aldridge can earn a 100% working interest, subject to a net proceeds interest held by Anatolia Minerals. At the current rate of project expenditures, Aldridge’s work commitment of US$ 6 million should be reached by early 2009.
Martin S. Oczlon, PhD Geo, a director of Aldridge and Qualified Person as defined in NI 43-101, has reviewed and verified the technical content of this press release.
Aldridge Minerals Inc. is wholly focused on mineral opportunities in Turkey where the Company is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project. A Preliminary Economic Assessment as well as an updated resource calculation is scheduled for mid-2008, subject to the progress of the resource definition drilling and the resultant size of the deposit. Aldridge has also identified several prospective nickel opportunities in Turkey and has amassed a large property position where a systematic development program has commenced.
On behalf of the Board of Directors
President and a Director
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The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For further information:
Dr. Hikmet Akin,
Präsident & CEO
Aldridge Minerals Inc.
The Equicom Group
+1-416-815-0700 x 247