Vancouver, British Columbia, Canada. Aldridge Minerals Inc. (“Aldridge” or the “Company”) is pleased to announce that the Company has finalized discussions with Advice Portfolio Management GmbH in Germany to raise up to CAD $3,000,000 through a non-brokered private placement, mainly in the European market. The private placement will consist of units ("Units") at a price of CAD $2.75 per Unit. Each Unit will consist of one common share and one share purchase warrant entitling the holder to acquire one additional common share at a price of CAD $3.40 for a period of 24 months from closing. The Company may pay a finder's fee incidental to the financing in accordance with Exchange policies. The private placement and payment of a finder's fee are subject to the approval of the TSX Venture Exchange.
About Aldridge Minerals
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. The updated resource calculation (see news release dated September 15, 2008) is to be followed by a Preliminary Economic Assessment (“PEA”). The PEA is subject to the progress in data compilation for open pit and plant construction, and in metallurgical testing.
Aldridge has also identified several prospective nickel and uranium opportunities in Turkey and has amassed a large nickel property position where a systematic development program has commenced.
On behalf of the Board of Directors
DR. HIKMET AKIN
President and Director
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 Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.