Vancouver, British Columbia – Aldridge Minerals Inc. (the “Company”) (TSX-V: AGM, Frankfurt: A0CAPB) Aldridge Minerals Inc. ("Aldridge" or the "Company") announced today that it has engaged Evergreen Capital Partners Inc. (“Evergreen”) to complete a brokered private placement of units ("Units") at a price of CAD $3.10 per Unit to raise gross proceeds of up to CAD $7,000,000. The closing date of the private placement is April 30, 2008.
Each Unit will consist of one common share and one-half of one share purchase warrant, with each full warrant entitling the holder to acquire one additional common share at a price of CAD $4.00 per share for a period of 24 months from closing.
The proceeds of the private placement will be used for continuing exploration and drill programs on the Company's mineral properties in Turkey and for general working capital purposes. 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 TSX Venture Exchange acceptance.
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 are scheduled for mid-2008; subject to the determined size of the deposit and the progress of the resource definition drilling.
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
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THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
For further information:
Dr. Hikmet Akin,
Präsident & CEO
Aldridge Minerals Inc.
The Equicom Group
+1-416-815-0700 x 247