Aldridge Announces Appointment of New President and CEO
TORONTO, March 25, 2014 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM) ("Aldridge" or the "Company") is pleased to announce the appointment of Han Ilhan as President and Chief Executive Officer, effective as of April 7, 2014.
Mr. Ilhan is a highly regarded mining executive with capabilities spanning the entire mine life cycle from scoping, exploration, feasibility, licensing & permitting, design, construction, supply chain, commissioning, financial management, management of operations, maintenance, and reclamation. Mr. Ilhan joins Aldridge from an international mining company with operations in Turkey where he served as Vice President of Projects and Country Manager of Turkey Operations.
Mr. Ilhan is a professional engineer and earned his Bachelor of Civil Engineering from Boğaziçi University in Istanbul, Turkey and Master of Geotechnical Engineering at Oregon State University. Prior to his most recent position, Han spent 26 years in progressive engineering, management, and leadership roles at URS Corporation ("URS"), a leading provider of engineering, construction, and technical services for public agencies and private sector companies around the world. Mr. Ilhan was most recently the Vice President and Director of Global Mining Business at URS, where he provided engineering and environmental services to the mining industry in over 20 countries. His experience includes project identification, evaluation, planning, and development, with a strong emphasis on environmental risk minimization and sustainable development. His specific technical expertise in the mining industry includes engineering, environmental, social risk management, and technical planning in the design and construction of heap leach facilities, water supply and diversion systems, pollution prevention measures, waste storage facilities, and mine closure and reclamation projects.
"The Board was committed to finding an executive that not only brought extensive industry experience with a history of building and operating mines, but also had particular expertise with mine development in Turkey. After conducting an exhaustive search process, the Special Committee of the Board concluded that Han brings a unique skill set to the Company and is ideally suited to lead Aldridge through its critical next phases of development," said Barry Hildred, Chairman of Aldridge.
"I am honoured to have the opportunity to lead Aldridge, a company I have known and admired for many years," said Mr. Ilhan. "This is an exciting time for the Company and I look foreword to working with the management team and Board to unlock the significant value of the Yenipazar Project."
Mr. Ilhan, who is fluent in both Turkish and English, will be based in Ankara, Turkey.
Grant of Options
Upon his appointment, the Company will grant a total of 1,000,000 stock options to Mr. Ilhan. The exercise price of the options will be determined following the announcement of the Company's Yenipazar Optimization Study, which is expected by mid-April. One quarter of the options will vest on the grant date, one quarter on the first anniversary, one quarter on the second anniversary and the balance on the third anniversary. They expire in 5 years. This grant of options is subject to acceptance by the TSX Venture Exchange.
Aldridge is a development stage mining company focused on its wholly owned Yenipazar polymetallic VMS Project (Au, Ag, Cu, Pb, Zn) in Turkey, a country that is committed to developing its natural resources. Aldridge completed the Yenipazar feasibility study and filed the related NI 43-101 compliant technical report in May 2013 and is currently advancing the Project on key aspects including optimizing the feasibility study and project financing.
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 news release, and no assurance can be given that such events will occur in the disclosed time frames 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 news release.
SOURCE Aldridge Minerals Inc.For further information:
Chairman of the Board
Director of Corporate Development & Corporate Secretary