TORONTO, June 17, 2013 /CNW/ - Aldridge Minerals Inc. (TSX Venture: AGM)
("Aldridge" or the "Company") is pleased to announce the exercise of
its option to earn a 100% working interest in the Company's flagship
Yenipazar Property in central Turkey. Aldridge completed the earn-in by
delivering the Yenipazar Feasibility Study to Alacer Gold Corp.
("Alacer"). Alacer retains a 6% net profit interest ("NPI") in the
Yenipazar Property until such time as operational revenues reach the
amount of US$165,000,000. When revenues exceed this threshold amount,
the NPI will increase to 10%.
Aldridge is a development stage mining company focused on advancing its
Yenipazar polymetallic VMS deposit (Au, Ag, Cu, Pb, Zn) in Turkey - a
country that is committed to developing its natural resources and is
rapidly emerging as an economic powerhouse. Following completion of the
Feasibility Study, one of Company's key objectives of 2013 is to obtain
the project financing needed to build the Yenipazar project and
thereafter commence production. The project financing may include some
combination of equity, senior debt, metal streaming and off-take
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
SOURCE: Aldridge Minerals Inc.
For further information:
President & CEO, Director
Director of Corporate Development & IR