TORONTO, May 2, 2012 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM)
("Aldridge") is pleased to announce the appointment of
Vice President, Project Development, effective immediately.
"Mr. Borst brings a wealth of knowledge and experience to the team at
Aldridge including the necessary expertise to advance our Yenipazar
Project in Turkey and assist us through our next stages of growth and
, President & CEO of Aldridge.
, C. Eng. is a mining engineer with 30 years experience in
operating underground and open pit mines, project management and
consulting services in Canada and abroad. He has worked in senior
capacities at gold, base metal, and mineral sands operations and
Prior to joining Aldridge, Mr. Borst was an independent consultant and
Associate Principal Mining Engineer with Roscoe Postle Associates Inc.,
providing services to Canadian and international exploration and mining
companies. Prior to his work as a consultant, he was Vice President -
Project Development with Tiomin Resources Inc., a Canadian mine
exploration and development company, where his responsibilities
included directing the feasibility study and detailed design of a
titanium project in Kenya. Mr. Borst was also responsible for
coordinating the exploration and development plans of a 2 billion pound
copper/gold joint venture project in Peru and evaluating mining
projects for potential mergers and acquisitions.
Aldridge is pleased to announce that it has retained the services of The
Equicom Group Inc. ("Equicom") to support its investor relations
activities. In consideration of the services to be provided, Aldridge
has agreed to a 12-month agreement commencing May 1, 2012 to pay a
monthly retainer of $7,000 per month to Equicom. Equicom does not have
any interest, directly or indirectly, in Aldridge or its securities, or
any right or intent to acquire such an interest.
Aldridge also announces that its agreement with Ascend Communications
Inc. has been terminated effective April 30, 2012.
About Aldridge Minerals Inc.
Aldridge is a publicly-traded junior exploration company focussed on
advancing its flagship Yenipazar polymetallic VMS deposit (Au, Ag, Cu,
Pb, Zn) in Turkey with a feasibility study, which is building on its
December 2010 Technical Report and Preliminary Economic Assessment. The
feasibility study is expected to be completed by the end of 2012. The
Yenipazar deposit is subject to an earn-in agreement with Alacer Gold
Corp., wherein Aldridge can earn a 100% working interest subject to
certain conditions, subject to a 6% net profit interest ("NPI",
revenues less operational costs) until revenues of US$165 million are
generated, and a 10% NPI from there on.
Aldridge also holds a 338 square kilometre exploration license in Papua
New Guinea known as
. The license area is prospective for
gold, silver and copper.
Additional information and corporate documents may be found on www.sedar.com and the Aldridge website, www.aldridgeminerals.ca.
Caution Regarding Forward-Looking Information
This news release includes certain forward-looking statements within the
meaning of Canadian securities laws. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results,
performance, prospects and opportunities to differ materially from
those expressed in such forward-looking statements. Forward-looking
statements in this news release, include, but are not limited to,
economic performance and future plans and objectives of Aldridge. Any
number of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although Aldridge believes that the assumptions and factors
used in making the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply as
of the date of this new release, and no assurance can be given that
such events will occur in the disclosed timeframes or at all. Aldridge
disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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.