Vancouver, British Columbia – April 28, 2010: Aldridge Minerals today announced strategic board & management changes following the Company’s Annual General Meeting of Shareholders held April 27th in Vancouver.
Effective immediately, Dr. Martin Oczlon, formerly Vice President of Exploration, has been appointed CEO and Mr. Jacob Willoughby, formerly Vice President of Corporate Development, has been appointed President, These appointments replace Dr. Hikmet Akin who has stepped down as President and CEO of the Company to assume the role of Chairman of the Board. Dr. Oczlon and Mr. Willoughby will also remain as Directors.
In addition to these management changes, Mr. Mark Monaghan and Mr. Barry Hildred have been elected to the Board of Directors of the Company bringing the total number of Directors to seven. The Company would also like to thank Mr. Charles Raymond, departing Director, for his past service and contributions to the Board.
“I am pleased to welcome the new members of the board, as well as congratulate Dr. Oczlon and Mr. Willoughby on their appointments,” said Dr. Akin, Chairman. “These management and board changes reflect the results of an extensive strategic review of our existing composition, and I am confident that we have achieved our objective of adding significant corporate capability, further supporting our immediate goal of advancing the development of our primary project, Yenipazar, in Turkey. I look forward to future collaboration with our new team as we take Aldridge through its next stage of development.”
Mr. Barry 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. Under his leadership, Equicom grew to the leading agency of its kind in Canada employing 65 professionals in three offices. In 2007, Equicom was acquired by the TSX 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. Monaghan is a business consultant with 17 years of institutional equities and public company experience. His career has spanned across corporate finance, corporate development, merchant banking, executive management and board appointments. He has worked in various capacities at TD Securities, Deacon Capital, CT Securities and Quest Capital. He has also been a strategic adviser to several publicly listed companies. Mr. Monaghan has extensive experience in international resource finance, corporate development and management strategy. He holds board seats on Lara Exploration Ltd. and Universal Power Corp.
In connection with the appointments mentioned above, the company has awarded 400,000 options to the new directors, subject to TSX Venture Exchange approval.
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 and Papua New Guinea, and has amassed a large property position where a systematic exploration program is underway.
On behalf of the Board of Directors
DR. HIKMET AKIN
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 the 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.
Jacob Willoughby, President and Director
Aldridge Minerals Inc., 1 604 688 8932