TORONTO, November 30, 2010 - Aldridge Minerals Inc. (TSX-V: AGM) ("Aldridge" or the "Company") today announces that Jean-Pierre Colin has been appointed as Chairman of its board of directors effective immediately. Mr. Colin joined the Board of Aldridge as a Director on October 28, 2010. Mr. Colin has spent most of his career since 1980 as an investment banker providing M&A and financing services to Canadian mining corporations. He is currently a corporate strategy consultant to senior management for a number of public companies, a Member of the Bar of the Province of Quebec and holds a Master of Business Administration from the University of Western Ontario. Mr. Colin is also a director of Premier Gold Mines Inc. and Ursa Major Minerals Ltd.
"Mr. Colin’s appointment to the role of Non-Executive Chairman represents another step in the evolution of the Company's board capability and leadership," said Jacob Willoughby, President and Director of Aldridge. "In the Chairman's role, Mr. Colin’s wealth of experience and contacts in the capital markets and mining industry will prove invaluable at this critical stage of our development. We are very pleased he has accepted this pivotal role on our board."
The Company also announces the appointment of Edward J. Badida as its new Chief Financial Officer with immediate effect. ”Mr. Badida brings a wealth of public Company experience and will provide financial and strategic leadership to Aldridge," said Jacob Willoughby, President and Director of Aldridge. "Mr. Badida not only has a proven track record, but he also has a depth of financial and operational experience that will be invaluable in helping Aldridge achieve its business objectives."
Edward J. Badida is a Chartered Accountant with over 35 years of financial management experience with resource and high technology companies and PricewaterhouseCoopers, an international public accounting firm. Mr. Badida's responsibilities as an Officer and Director with a number of Canadian public companies listed on TSX and TSX Venture Exchange included corporate finance, tax planning, treasury and shareholders’ relations, and financial management of mineral exploration programs in Canada, Europe, Mexico, South America, Central Asia and West Africa.
The Company also announces the resignation of Ms. Kim Evans as Chief Financial Officer effective immediately. Ms. Evans will continue to work for the company as a consultant to assist with the transition of moving the Company’s accounts to Toronto. The Company would like to sincerely thank Ms. Evans for her years of service and dedication. Moving the banking and accounting of Aldridge Minerals to Toronto is another step towards relocating the Company to Toronto from Vancouver. ...
The Company also announces the appointment of Barry Hildred as Executive Director and Officer of the Company. Mr. Hildred is a seasoned business executive supported by years of experience providing strategic counsel to public and private enterprises. Mr. Hildred founded The Equicom Group, a premier financial communications firm in 1995 and remained its President until October of 2009. In 2007, Equicom was acquired by the TMX Group, owner and operator of the Toronto Stock Exchange and the TSX Venture Exchange. Mr. Hildred also serves on the Board of the Children's Aid Foundation and is a past member of the Ontario Securities Commissions' Continuous Disclosure Advisory Committee.
“Mr. Hildred’s appointment as Executive Director and Officer reflects his invaluable contribution and ongoing commitment to the Company’s corporate development,” said Jean-Pierre Colin, Chairman of Aldridge. “I look forward to working closely with Mr. Hildred in his executive role within Aldridge, Mr. Willoughby, President and with our highly experienced and respected team of Directors, Officers, Management and Consultants who serve together to guide the Company toward our noteworthy targeted milestones of success.”
In connection with these appointments, the Company further announces that it has granted an aggregate of 1.15 million options to directors, management and IR consultants. Each option is exercisable at $1.40 per share and valid until November 30, 2015. This grant of options is subject to acceptance by the TSX Venture Exchange.
About Aldridge Minerals
Aldridge Minerals Inc. is mainly focused on mineral opportunities in Turkey where the Company is conducting an ambitious exploration and development program at its flagship Yenipazar polymetallic VMS project. Aldridge has also identified several other prospective opportunities in Turkey as well as Papua New Guinea, where the company has amassed a large property position with a systematic exploration program currently being conducted.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: Aldridge Minerals Inc., Jacob Willoughby, President and Director, (416) 558-4717, www.aldridgeminerals.com; The Equicom Group Inc., Patrick Piette, (416) 815 0700 x 267 or Dave Feick, (403) 218-2839, www.equicomgroup.com