Aldridge
Minerals Inc.
Aldridge
Minerals Inc. announces proceeds of CAD 1.3 million from exercise of
warrants
VANCOUVER, Feb. 11- Aldridge Minerals
Inc. (TSX-V: AGM, Frankfurt: A0CAPB) (the "Company") is pleased
to announce the exercise of 1,024,456 warrants for proceeds of
approximately $1.3 million. The exercise of these warrants resulted n the
issuance of 1,024,456 common shares of the Company.
The Company also
announced (February 6th 2008) a grant of stock options to its directors,
officers, employees and consultants to purchase an aggregate total of
408,000 common shares in the capital of the Company at a price of $2.24 per
share for a period of five years after the date of grant. Any common shares
issued upon exercise of the options are subject to a four month hold period
pursuant to the policies of the TSX Venture Exchange. The options are also
subject to the terms of the Company's Stock Option Plan, which has been
approved by shareholders of the Company and the TSX Venture Exchange.
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 opportunities in Turkey and has
amassed a large property position where a systematic development program
has commenced.
On behalf of
the Board of Directors
"Signed"
-------------------------------------
DR. HIKMET AKIN
President and a director
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, President
& CEO, Aldridge Minerals Inc., (604) 737-2743
Martti Kangas, The
Equicom Group, (416) 815-0700 x 243
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