Aldridge announces private placement

    TSX-V: AGM
    Frankfurt: A0CAPB

    VANCOUVER, July 29 /CNW/ - Aldridge Minerals Inc. ("Aldridge" or the
"Company") announced that the Company has finalized discussions with Advice
Portfolio Management GMBH in Germany to raise up to CAD $5,000,000 through a
non-brokered private placement, mainly in the European market. The private
placement will consist of units ("Units") at a price of CAD $2.75 per Unit.
Each Unit will consist of one common share and one share purchase warrant
entitling the holder to acquire one additional common share at a price of CAD
$3.40 for a period of 24 months from closing. 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 approval.
    This private placement will replace the financing previously announced on
June 4, 2008.

    About Aldridge Minerals

    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. An
updated resource calculation is scheduled for Summer 2008, to be followed by a
Preliminary Economic Assessment ("PEA"). The PEA is subject to the progress in
data compilation for open pit and plant construction, and in metallurgical
    Aldridge has also identified several prospective nickel and uranium
opportunities in Turkey and has amassed a large nickel property position where
a systematic development program has commenced.

    On behalf of the Board of Directors


    President and Director

    Forward-Looking Statements:

    The statements made in this Press Release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events
or results could differ materially from the Company's expectations and

    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

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