Aldridge Minerals Inc. amends terms of non-brokered private placement



    TSX-V: AGM
    Frankfurt: A0CAPB

    VANCOUVER, Nov. 16 /CNW/ - Aldridge Minerals Inc. (the "Company")
announces that it has amended the terms of its non-brokered private placement
units ("Units") originally announced on September 6, 2007. The Company will
now issue up to 1,200,000 Units at a price of $2.50 per Unit to raise gross
proceeds of $3,000,000.
    Each Unit will consist of one common share and one share purchase
warrant, with each warrant entitling the holder to acquire one additional
common share at a price of $3.50 per share for a period of 12 months from
closing. The Company expects to close the private placement immediately upon
receiving regulatory approval.
    The proceeds of the private placement will be used for continuing
exploration and drill programs on the Company's mineral properties in Turkey
and for general working capital purposes. The Company may pay a finder's fee
incidental to the financing in accordance with Exchange policies. The private
placement and payment of a finder's fee are subject to TSX Venture Exchange
acceptance.

    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 is
scheduled for Q2 2008, subject to the eventually determined size of the
deposit and progress of respective 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

    ----------------------
    DR. HIKMET AKIN

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE





For further information:

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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Aldridge Minerals Inc.

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